It's really the perfect payment method when you think about it.
If they can't prove that you paid for it then they don't have a case. As far as they know you're just hanging out with a lady that likes you a whole lot.
It's completely non-reversible and you can prove it mathematically. Even with cash you can still snag the envelope off the table.
Honestly, if the customers were younger and/or a little more savvy, Bitcoin would be the go-to. The problem is most are like 50, so explaining a digital currency that works via encryption is probably about as easy as explaining Mandarin Chinese to a Chimpanzee. Give it a decade or so and it'll probably be a part of this in a big way.
you sure know how to make an old guy feel REALLY old. I don't have a clue how bitcoin works. I just know how pussy works and they all still take cash. If that changes, I'm up shit-creek! Lol
Since the BTC blockchain is distributed, confirmation of transfer is not immediate like it is with credit/debit cards.
"Usually you'll have the first confirmation within 10-15 minutes, which means the money will be available to the receiver to some extent. After 60-80 minutes, the transaction should be complete."
Yes, it's squarely in pre-pay territory if we're talking absolute transaction reliability. There are some things in the works to transact faster, but for now it's likely somewhere around half an hour before a transaction is confirmed enough to be bulletproof.
That said, it wouldn't be trivial to double spend a transaction (and thus screw the provider out of their bitcoin), and likely far beyond the technical means of most consumers. So, practically speaking, once a transaction posts on blockchain.info with 1 confirmation you're good to go, so like you said, 10-15 minutes.
I'd wager that this isn't a huge deal for most mid-high tier providers, they could get the payment started, have 10-15 minutes of chit-chat like they could normally, check the transaction and continue with the rest of the session.
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