"Plenty according to who? Like I said before, don't keep telling me about oddballs like Namecheap. It really doesn't matter when the vast majority of bitcoin vendors force you to wait 1-2 hours."
I consider payment made on one confirmation for both of my businesses that accept Bitcoin payments. It takes a few minutes.
If by "majority of Bitcoin vendors" you mean exchanges, then sure...they make you wait roughly an hour for 6 blocks to confirm, I guess. But, that's not a normal thing; it takes me a lot longer than that to get USD into or out of my stock account at TD Ameritrade. You seem to have a serious beef with exchanges, and I understand that. That was a point of frustration for me, too. But, it's not Bitcoin that's a problem there. It's that the Bitcoin industry is brand new. It's such a tiny thing right now, and there's so much room for growth and improvement.
"I have included fees of many multiples of a penny and every confirmation takes on average 20 minutes as it is supposed to. I have no idea how you are getting 10 confirmations in a few minutes."
You're right, actually...I looked back at my transactions...only LTC was confirmed that quickly (which makes sense as it has a 2.5 minute cycle instead of a 10 minute cycle like Bitcoin). Bitcoins take about an hour to get 6 confirmations, but that's far more confirmation than one needs for any small transaction. I don't call my customer's bank when they hand me a check, and I don't have to wait around forever to find out if their Bitcoin transaction is good. I've never thought about the time for confirmations as I've never been in a situation where it was an issue.
"I tell people bitcoin transactions take 1-2 hours because for 99% of the vendors taking bitcoin that is how long it takes."
I believe you should re-think the necessity of waiting for 6 (or more) confirmations for the average PoS use case. As a business owner, myself, I'm fine trusting that my customer isn't going to go to great lengths to cheat me. If I were a restaurant owner, I'd take payment, go make the food, and check for confirmation before handing the customer the food. No big deal.
There's a number of business opportunities for solving the need for more speed and more security with rapid PoS transaction (and if Visa and Mastercard were smart, they'd already be working on it). Bitcoin is still a low-level protocol. Better/faster than ACH, but still needs some buffer layers for some use cases.
Not a big deal, just some software to be written and some infrastructure to be built. Huge opportunities for those who want to build it.
I consider payment made on one confirmation for both of my businesses that accept Bitcoin payments. It takes a few minutes.
If by "majority of Bitcoin vendors" you mean exchanges, then sure...they make you wait roughly an hour for 6 blocks to confirm, I guess. But, that's not a normal thing; it takes me a lot longer than that to get USD into or out of my stock account at TD Ameritrade. You seem to have a serious beef with exchanges, and I understand that. That was a point of frustration for me, too. But, it's not Bitcoin that's a problem there. It's that the Bitcoin industry is brand new. It's such a tiny thing right now, and there's so much room for growth and improvement.
"I have included fees of many multiples of a penny and every confirmation takes on average 20 minutes as it is supposed to. I have no idea how you are getting 10 confirmations in a few minutes."
You're right, actually...I looked back at my transactions...only LTC was confirmed that quickly (which makes sense as it has a 2.5 minute cycle instead of a 10 minute cycle like Bitcoin). Bitcoins take about an hour to get 6 confirmations, but that's far more confirmation than one needs for any small transaction. I don't call my customer's bank when they hand me a check, and I don't have to wait around forever to find out if their Bitcoin transaction is good. I've never thought about the time for confirmations as I've never been in a situation where it was an issue.
"I tell people bitcoin transactions take 1-2 hours because for 99% of the vendors taking bitcoin that is how long it takes."
I believe you should re-think the necessity of waiting for 6 (or more) confirmations for the average PoS use case. As a business owner, myself, I'm fine trusting that my customer isn't going to go to great lengths to cheat me. If I were a restaurant owner, I'd take payment, go make the food, and check for confirmation before handing the customer the food. No big deal.
There's a number of business opportunities for solving the need for more speed and more security with rapid PoS transaction (and if Visa and Mastercard were smart, they'd already be working on it). Bitcoin is still a low-level protocol. Better/faster than ACH, but still needs some buffer layers for some use cases.
Not a big deal, just some software to be written and some infrastructure to be built. Huge opportunities for those who want to build it.