Post
Topic
Board Bitcoin Discussion
Re: No matter how much we love BTC, confirmations take way too long!
by
Jace
on 29/07/2014, 12:40:25 UTC
I have yet to see or hear of a merchant that doesn't require a minimum of at least 1 confirmation.    In theory,  it might not be needed,  at least if there is a sufficient transaction fee  to prioritize it.

However,  I believe  the merchants/processors are all practicing CYA / "better safe than sorry,"  and  requiring a minimum of   1 confirm,  for even the smallest transaction,  and  larger transactions/operaations generally requiring 4 or more confirms.
Are you kidding? For example here in Arnhem, there are plenty of places that accept Bitcoin, and *none* of them requires waiting for any confirmations.

Doesn't matter whether you pay for a cup of coffee, or hundreds of euros for a family dinner in a restaurant. Instant payment, NO confirmations needed whatsoever. That's the ones accepting Bitcoin directly, as well as the ones using a payment provider.

So far, thousands of euros worth of bitcoins has been spent, and exactly ZERO cents have been at risk / charged back / double spent.