Re: permabulls not only lost the control over this section-in fact they are extinct
Hmm...I don't see anything 6 confirmations on Coinbase at Point of Sale:
https://www.coinbase.com/docs/merchant_tools/point_of_sale
https://www.coinbase.com/docs/merchant_tools/point_of_sale
Here:
Regarding paying with Bitcoin, merchant adoption etc., etc, let's look at reality.
Dell is the hobbyhorse that often gets trotted out when merchant adoption is brought up. Let's check what actually happens & how instantaneous it is:
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Transactions verified by Bitcoin network.
Once a Bitcoin transaction is submitted to the Bitcoin network, it may take an hour or longer for the Bitcoin network to fully verify the transaction. A transaction is not complete until it is fully verified. Dell has no control over this timeframe imposed by the Bitcoin network.
Dell is the hobbyhorse that often gets trotted out when merchant adoption is brought up. Let's check what actually happens & how instantaneous it is:
...
Transactions verified by Bitcoin network.
Once a Bitcoin transaction is submitted to the Bitcoin network, it may take an hour or longer for the Bitcoin network to fully verify the transaction. A transaction is not complete until it is fully verified. Dell has no control over this timeframe imposed by the Bitcoin network.
Taken from http://www.dell.com/learn/us/en/uscorp1/campaigns/bitcoin-terms-and-conditions
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Don't see anything about 6 confirmations on Coinkite Point of Sale, neither:
https://coinkite.com/faq/terminal
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How does this work out with confirmations, would the consumer have to wait 10 minutes?
We can immediately confirm amounts from customers that are using Coinkite's accounts, and in other cases, we offer the choice to the retailer as to how many confirmations they require. We feel that if you are transacting small amounts, then accepting zero confirmations (for instant payment) may be a reasonable risk.
...We can immediately confirm amounts from customers that are using Coinkite's accounts, and in other cases, we offer the choice to the retailer as to how many confirmations they require. We feel that if you are transacting small amounts, then accepting zero confirmations (for instant payment) may be a reasonable risk.
Do you understand what you just posted? Transactions with Coinkite's CC are instantaneous, and the retailer is free to take any risk it wants when payments are made directly with BTC.
In other words, when you sell me something, you are free to not wait for any confirms, or even take my word that I'll send the BTC later--no skin off Coinkite's nose
