Ninjastic
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Board Bitcoin Discussion
Re: No matter how much we love BTC, confirmations take way too long!
by
btccashacc
on 05/06/2017, 22:28:02 UTC
Quote from: richardsNY on June 05, 2017, 09:39:03 PM
Quote from: Heyo:P on June 05, 2017, 09:30:45 PM
Quote from: RodeoX on April 26, 2017, 05:53:15 PM
Compared to what? Bitcoin is the fastest payment network there is.  Roll Eyes
I'm sorry, but just no.
There are a lot of next-to-instant payment methods like Paypal and Credit Cards, and even most altcoins are faster than BTC now.

In terms of transactions moving from point A to B, PayPal and others might be the fastest as long as payments occur within the ecosystem of these services, but the main point of importance is the time they need to settle. In most cases Bitcoin transactions settle (i.e. confirm) usually within 20-30 minutes. PayPal and others have a settle time of more than 60 days in which people can charge back if they so wish -- that's quite a difference, isn't it?
Yup exactly that's why people still using bitcoin even though the fee is too high if we compare it to the paypal for small transaction of course, you might be right that bitcoin is not faster anymore but at least it's decentralized, no one can dispute your money, lock it or even freeze. Yeah maybe there some altcoins which better than bitcoin but compare bitcoin to paypal or another centralized payment i think it's just not suited.