Well, in that case I disagree with your point ;) From a user's perspective, the transaction is confirmed when the app says "transaction confirmed", i.e. the se

Well, in that case I disagree with your point ;) From a user's perspective, the transaction is confirmed when the app says "transaction confirmed", i.e. the second you press the "send money" button. I think that's what the OP was getting at. As you correctly point out, the transaction could still bounce if the user has insufficient funds, but that's not in the happy path. Most users' experience with Venmo/Paypal is that they get a "confirmation" immediately, and then they move on. The happy path for a BTC transaction involves minutes to hours of time without even getting a _provisional_ ACK from the network, at any point in which your payment could fail and require a retry, or the payor could cancel. (The time taken to finalize the payment is much less with BTC, but since modern payment systems paper over that detail, I argue it is not relevant to the user-facing concern that the OP is commenting on. Perhaps it is something that users _should_ be more concerned about, but consider the use-case of trying to buy a cup of coffee with BTC. Nobody is going to wait 2 hours for a transaction to complete in that use-case.)