Quote from: newIndia on July 04, 2014, 04:02:53 PM

Quote from: DannyElfman on July 03, 2014, 01:44:22 AM

Quote from: BitCoinDream on July 01, 2014, 05:39:40 PM

Quote from: Dogtanian on July 01, 2014, 05:11:29 PM

Quote from: Vintage on June 30, 2014, 05:49:03 PM

Quote from: Velkro on June 25, 2014, 08:40:20 PM

future of bitcoin is paying for everything with bitcoins, everyday grocery etc

I don't see many people paying with it through a drive through. 10 min wait could stall fast food lol

I wish people would stop bringing this up as if it's a problem. You don't have to wait ten minutes. Have you ever actually sent bitcoin?

Why do u think that u dont need to wait 10 min ? Unless u wait, there remains a chance of double spending ...is no it ?

There is always the chance of a double spend attack, even after 6 confirmations (via a 51% attack).

Once a TX has been propagated throughout the network nodes will consider the inputs as spend and will reject any TXs that contain the same inputs even when the TX is 0/unconfirmed. The only way to double spend would be to include a block in the blockchain that spends at least one of the same inputs. With small purchases like fast food this would generally not be economical.

Frankly speaking, most of the APIs do not work without at least 1 confirmation. So, when u r building an application, u'll most likely wait at least 1 confirmation, unless u are spending time to build your own API, which is again very unlikely for startups.

When there is a demand for bitcoin payment processing that accepts 0 confirmations payments then companies like bitpay and coinbase will build systems to support it. Right now there is very little demand for this kind of system as most companies that accept bitcoin sell over the internet or accept bitcoin for money owed on an account (direct tv) and they will not ship until after 10 minutes passes anyway.