Japanese Retailers begin accepting Bitcoin

[merkelstan]

So the Japanese begin accepting Bitcoin payments at checkout in retail stores.

https://www.youtube.com/watch?v=qbNG66nQdqA

Now the problem with this is, the network takes many (average of 43 says one site) minutes to confirm the transfer, so you can theoretically double-spend your coins.

Newer cryptocurrencies like DASH https://www.dash.org/ solve this problem with a masternode network, which confirms the transaction in seconds (about 3 sec in my test).

Goes to show what a high-trust, homogeneous society like japan can achieve without secure infrastructure.

[kfarnan]

They could keep an internal ledger. They are also not paying processing fees.

[Keith and stuff]

Now the problem with this is, the network takes many (average of 43 says one site) minutes to confirm the transfer, so you can theoretically double-spend your coins.

Goes to show what a high-trust, homogeneous society like japan can achieve without secure infrastructure.

Selective retail stores in the U.S. have been doing this for years.