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My question is, how quickly can Bitcoin transactions clear given that a limited number of transactions are processed in batches, and that authenticating the transactions requires a compute-intensive solution?
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All following IIRC...
Bitcoin has a heartbeat of 10 minutes. Fee-less transactions have to survive six passes through the resolver to be perfected. Transaction fees move you up the queue. It's like Bonneville; "Speed costs money, how fast do you want to go."
A cup of coffee? Who cares. A major appliance? After 10 minutes the odds of the transaction being falsified are low, diminishing to zero. Buying a house, or an island or something? It's worth waiting it out.
All foregoing subject to I & I Recalling Correctly.
https://duckduckgo.com/?t=palemoon&q=bitcoin+side+chains
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For any e-currency to survive, it needs to get to the point that I can pay for groceries almost instantly, and for next to no transaction cost.
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No wiggle room at all? Harsh.