Post
Topic
Board Development & Technical Discussion
Re: 0 confirmation - signed by miner?
by
ByteCoin
on 03/02/2012, 13:21:48 UTC
The question that stays in the air is whether the risk of suffering a double-spend is high enough to motivate people to buy such insurances.

With the current architecture, it's difficult to accept "instant" payments securely. It's unlikely that a merchant will individually have the infrastructure to check the propagation of a transaction so they can't even manage the risk of a double spend attack succeeding.

Someone with good (contractual?) relationships with the major mining pools could offer insurance at a rate probably around a small fraction of a percent of the transaction value. It's much easier for merchants and customers to account for a small constant insurance cost than large double-spend losses.

ByteCoin