god the spectacular thing about bitcoin is that if it weren’t a wildly unstable speculative asset, it would be literally nothing. the speed of the network just isn’t sufficient to support its use as actual currency. this guy is calling transaction times of up to 15 minutes “instant transfer.”
lol 15 minutes is a fast transaction time on the bitcoin network, you have to pay a fairly hefty fee to get it to clear that fast (last time I had to deal with the network it was like over 20 dollars I think, and that was over a year ago).
(This is for a single-block confirmation; many places require 3 to 6 confirmations, which adds another 20 to 50 minutes, on average, and possibly a lot more than that if the network is unlucky.)
god the spectacular thing about bitcoin is that if it weren’t a wildly unstable speculative asset, it would be literally nothing. the speed of the network just isn’t sufficient to support its use as actual currency. this guy is calling transaction times of up to 15 minutes “instant transfer.”
lol 15 minutes is a fast transaction time on the bitcoin network, you have to pay a fairly hefty fee to get it to clear that fast (last time I had to deal with the network it was like over 20 dollars I think, and that was over a year ago).
(This is for a single-block confirmation; many places require 3 to 6 confirmations, which adds another 20 to 50 minutes, on average, and possibly a lot more than that if the network is unlucky.)
Making awkward chitchat with the barista for 15 mins while the transaction for your coffee completes.