Post
Topic
Board Bitcoin Discussion
Re: BTC payments in PHILIPPINES
by
bL4nkcode
on 22/06/2018, 10:29:14 UTC
Philippines truly is the haven for Bitcoin but creating a cloud of doubt, including stating that you need coins.ph for faster processing is fake news.If you know how to use Bech 32/Segwit it will be faster and the mining fees are less by almost 90%.
First before you argue with my statement try to research first what's the capability of the wallet/exchange I mentioned. I'm not opposed of the idea of segwit since I'm using it. But using different wallets for the client and the merchant in the local store which will goes to the network and wait for the confirmation at least 6.

And waiting for 3-10 minutes or more only for paying and confirming the transaction from the network is too long especially if you're in the local store. But using coinsph after you click the send button it will not takes 10 seconds the btc is received already by the receiver and it will never required of any transaction fee.


Learn more about Bitcoin before saying that the processing is slow. Remember that you only need six confirmations for your transaction to be accepted. If you don't know that it might be because you are using online wallets.
Let say you know what you're talking about, as for your knowledge bitcoin confirmation have an average of 10 minutes to find each block and obviously before it got at least 1 confirmation, but since you mentioned segwit, let say it will take only 3-6 minutes and since you mentioned that it will only need 6 confirmation, then 3 (minimum minutes of confirmation in segwit) x 6 = 18. Or let say it will confirm at least 2 minutes so 2x6 =12, so you will wait 12-18 minutes or more of waiting in the line of the local store. Are you kidding me?