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Author Topic: Accepting Bitcoin at a swap meet and confirmations  (Read 1751 times)

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Offline dlmutinyTopic starter

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Accepting Bitcoin at a swap meet and confirmations
« on: April 04, 2014, 03:59:03 PM »
Hello everyone,


I'd like to accept Bitcoin at a swap meet and I think I understand the 10min. confirmation for a transaction. Now, for 90% of the stuff I'll be selling I'm fine with 0 confirmations but I will have a couple high priced items that someone may want to purchase with Bitcoin.

For example, some says they want to purchase this $600 item with Bitcoin. The person uses their (most likely) phone to scan my QR-Code and send me the payment. I will then look at my blockchain.info wallet for the transaction and done the item is paid for with 0 confirmations.

My question, is it a good idea that I make the customer hangout for 10min. while we wait for the first confirmation? What real risk is there if I let the customer walk off with 0 confirmations?

Thank you for your help


Offline miners

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Re: Accepting Bitcoin at a swap meet and confirmations
« Reply #1 on: April 04, 2014, 05:40:17 PM »
For a high ticket item you are better being safe than sorry. I'm sure the buyer won't mind hanging around until the transaction has confirmed. Ask them to increase the transaction fee to speed things up a bit.

Offline dlmutinyTopic starter

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Re: Accepting Bitcoin at a swap meet and confirmations
« Reply #2 on: April 04, 2014, 06:12:35 PM »
Ask them to increase the transaction fee to speed things up a bit.


That's a good idea, thanks miners

Offline mydream2059

Re: Accepting Bitcoin at a swap meet and confirmations
« Reply #3 on: April 14, 2014, 09:39:19 AM »
Same question.
I'd like to know once btc sent, and 0 confirmation. Can I stop the btc sending?
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