Post
Topic
Board Bitcoin Discussion
Re: Avoiding Waiting Time During POS Transaction
by
amspir
on 14/03/2014, 16:09:14 UTC
How can you avoid having to wait the 10-30 minutes it takes for a transaction to confirm when accepting bitcoin for POS transactions?

Submit the signed transaction to the merchant.  Merchant sends the transaction to the largest mining pools, who acknowledge that it is a valid transaction, which gives the merchant a higher probability that funds won't be double-spent before being confirmed.  The purchase would have to be a limited amount to minimize a potential loss.