pull down to refresh
The 10 minutes was fast, as compared to bank settlements. Especially cross-border transactions.
reply
In its early days, transactions were fast
So are they not fast now?
reply
It depends on your feerate. 1.00sat/vB is like going gambling, sometimes you get 1-2 confirmations within 20 minutes, othertimes you dont get any in 8 hours. Same speed but wildly inconsistent unless you want to spend a rather significant amount of your stacked satoshis on fees each time.
600 satoshis per TX for "guaranteed" confirmations, while minimum wage in the U.S. is 6,000 satoshis per hour is a bit high right?
reply
They still are fast. But with LN, they're lightning-fast. The fastest
reply
delete this AI slop, some of the more embarrassing slop on the subject I've seen as a slop connoisseur
Confirmation time hasn't changed, it's always targeted 10m and always will.
Lightning will always be needed for instant settlement.
Payment channels also pre-date Lightning as it is known, re-usable transactions are an indelible part of Bitcoin.