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Comment by hendzen

Awesome. Now to see how their integration works with regards to confirmation time. The best solution IMO is to use a risk analyzer to determine the number of needed confirmations. 0 conf for small payments for a merchant with a low fraud rate, with increasing confirmations needed as the size of the payment grows. I would look at BitPay's checkout flow to see the state of the art here.

Also hoping they implement the payment protocol (BIP70), which gives a much better user experience and improved security. Instead of copy pasting an address, a signed payment request is sent to the users Bitcoin wallet with a message stating something like "Bob's shop has requested a payment of 10USD (20mBTC) - accept?". Some particularly insidious coin stealing malware has been developed that modifies the payment address in the clipboard to be changed to an attackers address, and the whole UX around copying long Base58 encoded strings is horrible. Furthermore, the signed payment request serves as a receipt. With BIP70, the UX of bitcoin payments surpasses that of CC payments, IMO.

parent hendzen 12 years ago

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