Good morning Beehaw it is currently 5:30 am in the morning here in Australia Nov 9 2024.
It may not be morning where you are but it is always morning somewhere on Earth. Plus this chat is more of a vibe. Have you been doing any hobbies lately or discovered a new tv show? Maybe you worked on something and want to share it or you recently found something you are passionate about?

  • iii@mander.xyzEnglish
    1·
    9 days ago

    How fast are transfers in monero? That’s a thing I don’t like about BTC, the fee if you want fast transactions.

    • shortwavesurfer@lemmy.zipEnglish
      1·
      9 days ago

      Monero does not have replaced by feet like Bitcoin does, so you can accept a zero confirmation transaction, which takes seconds up to whatever level you are comfortable with. For example, you might buy a coffee with a zero confirmation transaction in seconds, but buying a car would take 10 blocks or about 20 minutes. Fees are also stupid low. So no issue there.

      • iii@mander.xyzEnglish
        1·
        9 days ago

        Monero does not have replaced by feet

        Don’t quite understand that, sorry

        but buying a car would take 10 blocks or about 20 minutes

        So about the same confirmation speed as BTC?

        • shortwavesurfer@lemmy.zipEnglish
          2·
          9 days ago

          Replace by fee is a mechanism where as long as a transaction has not been confirmed yet you can replace it with a new transaction as long as it pays a higher fee but that could cause double spending which is a problem.

          Also, in Bitcoin, they say, in order to make sure a transaction has really gone through, you should wait 7 blocks. And therefore, that would be 70 minutes instead of 20 minutes.