20 minutes minimum for bitcoin transactions, which is a long time to hold up the... | Hacker News

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		three_seagrass on Nov 11, 2022 \| parent \| context \| favorite \| on: FTX to file for U.S. bankruptcy, CEO resigns 20 minutes minimum for bitcoin transactions, which is a long time to hold up the line at the grocery store. Occasionally this has been weeks or never. For comparison, credit cards can verify in less than a second.

nunez on Nov 11, 2022 [–]

i thought that physical places that take bitcoin use (centralized, LOL) intermediaries to provide float for points off the top to cover for the extra long txn completion times

three_seagrass on Nov 17, 2022 | [–]

Yep, in those cases, bitcoin is having to rely on traditional payment systems to even marginally compete with traditional payment systems.

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