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by ceejayoz 3275 days ago
The average confirmation time for a Bitcoin transaction was 400+ minutes recently (and is still around an hour even now). https://blockchain.info/charts/avg-confirmation-time?daysAve...
1 comments
ryanlol 3275 days ago
Yes, but you don't need more than 20-30 seconds to be confident that a transaction isn't a doublespend attempt.

After that it's only about checking if the fee is high enough.

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ceejayoz 3275 days ago
> After that it's only about checking if the fee is high enough.

Which can take up to 72 hours, right?

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ryanlol 3275 days ago
No, you just check if the fee per KB is more than x. Where x is a fee that is likely enough to confirm. This is practically instant.
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ceejayoz 3274 days ago
I'm not sure "likely enough to confirm" is going to go over all that well with many merchants, particularly when that chart shows the price-per-byte jumps all over the place rapidly.
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