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>Please provide a single example of service that can be provided by CCs but can not be provided by companies that operate on Bitcoin network. more or less inst

by rtpg 12y ago

>Please provide a single example of service that can be provided by CCs but can not be provided by companies that operate on Bitcoin network. more or less instant transactions? Like the guy said, transactions take forever with BTC

exo762 12y ago
Ok, there are two types of transactions. Ones where you want to be able to spend money that you've just received - those are slow with Bitcoin (ETA 5 minutes). This is a price you pay for your independence of banks. You can transfer money to anyone anytime and this type of transaction is impossible with VISA. Other - when you pay with BTC at point of sale (POS) and only thing you care about is your counterparty being able to say "thank you for your money". Those are covered by BIP70, which makes transaction as fast and faster then VISA.