<<  >> (p.2)
    Author Topic: Meze Grill Bitcoin Commercial  (Read 2800 times)
    error
    Hero Member
    *****
    Offline Offline

    Activity: 588
    Merit: 500



    View Profile
    July 29, 2011, 08:48:34 PM
     #21

    It's a nice video. Congratulations Smiley

    There's one thing I never understood about these stores; when you pay for bitcoins do you have to wait until the transaction is confirmed or can you take your food and go while it is unconfirmed?

    Bitcoin payments are instant. It's settlement (in Bitcoin called confirmation) that takes a few minutes. (With credit/debit cards, the equivalent process takes several days.) In order to protect against fraud, ONLINE merchants must wait for a few confirmations before shipping an item or providing a service; since the same attacks are even less feasible in face to face transactions than they are in online transactions, it's perfectly fine in a restaurant, grocery store or similar face to face transaction to accept 0 confirmations.

    If you have more interest in Bitcoin fraud and how the protocol prevents it, you can look up the numerous forum threads where these are discussed. Smiley

    3KzNGwzRZ6SimWuFAgh4TnXzHpruHMZmV8
Page 1
Viewing Page: 2