Author: Sergio Demian Lerner 2015-08-07 23:08:02
Published on: 2015-08-07T23:08:02+00:00
The author of the email argues that in some rare occasions, seconds matter more than minutes, such as when paying for parking with other cars behind you. Although it may take him tens of minutes to shop, he does not mind waiting a few minutes for payment confirmation, as long as the payment system allows multiple pending payments and does not block the next person from paying. The author believes that time is mostly measured in minutes, as it takes minutes to complete various everyday tasks, and a payment taking one minute would be much better than a payment taking ten. If he could change one thing about Bitcoin, he would reduce the payment time within the minute scale. In response, the email suggests using a variant of multisignature notaries, like Greenaddress.it or the Lightning Network, which provide assurance of doublespend protection from the time of publication of the transaction to the first block confirmation through a combination of economic incentives and legal liability.
Updated on: 2023-06-10T18:51:03.493334+00:00