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Thread: Japanese Retailers begin accepting Bitcoin

  1. #1

    Default Japanese Retailers begin accepting Bitcoin

    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.
    Last edited by merkelstan; 04-09-2017 at 06:45 PM. Reason: sorry the video tags didn't work



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  3. #2

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

  4. #3

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    Quote Originally Posted by merkelstan View Post
    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.
    Lifetime member of more than 1 national gun organization and the New Hampshire Liberty Alliance. Part of Young Americans for Liberty and Campaign for Liberty. Free State Project participant and multi-year Free Talk Live AMPlifier.






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