Bitcoin Futures Start with a Bang as Rally Trips Circuit Breaker

Re:Bitcoin Futures Start with a Bang as Rally Trips Circuit ... by Kiro on Monday December 11, 2017 @02:52AM (#15895709)

> It achieves nothing that an increased blocksize would not have done on-chain

Regardless of blocksize the block times are still 10 minutes which means you need one hour for the transaction to settle, per the 6 block standard. You can't compare that with LN.

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Re:Bitcoin Futures Start with a Bang as Rally Trips Circuit ... by homakov on Monday December 11, 2017 @03:04AM (#15895744)

Also good point - no matter how much you scale "onchain" you still end up with settlement periods, a few min at least. Impractical for offline payments.

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Re:Bitcoin Futures Start with a Bang as Rally Trips Circuit ... by uncoder0 on Monday December 11, 2017 @10:31AM (#15897597)

With the current difficulty level isn't the '6 block standard' a bit dated unless we're talking about a transaction that is extremely valuable.

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Re:Bitcoin Futures Start with a Bang as Rally Trips Circuit ... by mercer on Monday December 11, 2017 @05:07AM (#15896120)

Could you elaborate on that? I recall doing transactions that had 6+ confirmations in far less than 1 hour. Do I recall incorrectly?

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Re:Bitcoin Futures Start with a Bang as Rally Trips Circuit ... by spiorf on Monday December 11, 2017 @06:27AM (#15896401)

That's just luck. The 10 minute is an average. There are times where you need three hours for 6 confirmations.

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