Otherwise another currency that can do what BTC can and ALSO supports transacting in half a minute will replace bitcoin in many uses and will devaluate your BTCs.
Like Litecoin? It was released well over a year ago, I think.
Litecoin is 15 mins. Bitcoin is an hour. We need something even lighter... a cryptocurrency with migh lighter-weight block targets in seconds. I'm not certain chain length is the right way to gain consensus either. The algorith ceph uses for consensus could probably e modified. I think it's possible to get much more rapid peer confirmation, and I agree.... the first cryptocurrency that boasts rapid confirm times will be the one to win.