“Some users experience a terrible situation. They do a transaction with a 0.1 millibit fee like they’ve always done, and it takes three days to confirm. During that time, they’re freaking out, especially if they’re new users. Because new users assume that the money has left their account (there are no accounts in bitcoin) and is en route to the destination account (again, there are no accounts in bitcoin), and therefore is somewhere in limbo in between. The money is really still in their account; it’s just that their wallet says it hasn’t been confirmed yet. It’s either at the source or at the destination, atomically with one transaction. There is no intermediate state. It can’t be in limbo because bitcoin doesn’t transmit, it settles.”

― Andreas M. Antonopoulos, The Internet of Money #testingtwonote1events #postanote