Quote from: Emoclaw on August 31, 2017, 01:49:48 AM

Quote from: BallZy on August 31, 2017, 12:24:32 AM

I don't know much about how BTC or ETH works, but why all cryptocurrencies takes so long to confirm a transaction. I think even 30s is too long, why cant it be instant like PayPal?

BTC transactions are actually INSTANTANEOUS. It's confirmations that take a longer time (10 minutes) because that's how Bitcoin works.
Bitcoin has a block time of 10 minutes and that amount of time was chosen presumably because it is a good compromise of speed, security and bandwidth.
The Lightning Network will allow for instantaneous, off-chain transactions that will not need to be confirmed.

Credit card transactions take 180 days to confirm, yet I see no one complaining about it. BTC transactions take only 10 minutes to confirm that your money is sent and will never be stolen. Most newbies are clueless and don't value what BTC does enough because they don't understand the concept of decentralization.

Once we get Lightning Network wallets and user friendly out, people will no longer complain because they will be able to make instant transactions for cheap which apparently it's all newbies care about.