Validated - (seen on network) Settled/Cleared - 1 conf
Finalised - 6 confs On Sat, 2015-07-25 at 00:37 +1000, Vincent Truong via bitcoin-dev wrote: > > "Fast transactions" > Fast transactions implies it is slower than Visa, and Visa is > 'instant' by comparison from the spender's POV. Bitcoin is still very > instant because wallets still send notifications/pings when > transactions are first seen, not when it goes into a block. We > shouldn't mislead people into thinking a transaction literally takes > 10 minutes to travel the globe. > > Maybe this feels like PR speak. But being too humble about Bitcoin's > attributes isn't a good idea either. > > If we're going to look at perception, image and expectations, perhaps > we can start to look at redefining some terminology too. Like > confirmations, which is an arbitrary concept. Where possible we should > describe it with finance terminology. > > "0 conf transaction" > 0 conf is the 'transaction' - just the act of making an exchange. It > doesn't imply safe and I believe using the word 'settle' in place of > confirmations will automatically click with merchants. > > "1st conf" > A 'confirmation' is a 'settlement'. If it is 'settled', it implies > final (except by court order), whereas confirmation usually means 'ah, > I've seen it come through'. I rarely hear any sales clerk call credit > card transactions confirmed. More often you will hear 'approved' > instead. Although 1st conf can be overtaken, so... > > "n confirmations" > This term can probably stay since I can't come up with a better word. > Settlements only happen once, putting a number next to it breaks the > meaning of the word. "Settled with 4 confirmations" seems pretty > clear. Alternatively I think instead of displaying a meaningless > number we ought to go by a percentage (the double spend improbability) > and go by 'confidence'. "Settled with 92% confidence." Or we can pick > an arbitrary number like 6 and use 'settling...' and 'settled' when > reached. > > _______________________________________________ > bitcoin-dev mailing list > bitcoin-dev@lists.linuxfoundation.org > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev _______________________________________________ bitcoin-dev mailing list bitcoin-dev@lists.linuxfoundation.org https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
