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Fun fact from #hcpp24:

I asked one of the crew how many payments during the conference she would estimate have been done via #LightningNetwork vs #Monero. She said about 30% XMR, but that she wished everyone used Lightning, because of how slow the Monero payments are.

Point of Sale is just bad UX for anything taking longer than a few seconds. Only really committed merchants will tolerate that, and even then it's rough for them.

ede3d957... 1y ago

Monero payments are zero confirmation if the merchant is into UX. Which means 5 to 10 seconds.

Now if the merchant doesn't understand zero confirmation or uses a payment service provider this can go up to 5 or even 10 minutes.

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Discussion

Râu Cao ⚡ 1y ago

Someone at HCPP (in 2019 IIRC) shared an app to try to double-spend UTXOs at the bar, with an almost 50/50 chance of succeeding. They did it only to demonstrate how bad of an idea it is to accept unconfirmed transactions as payment.

Hanshan 1y ago

Not sure thats applicable to Monero but is interesting.

for small payments its probably still fine....?

Râu Cao ⚡ 1y ago

Unconfirmed means unconfirmed. It is what it is.

ede3d957... 1y ago

I would be interested in an answer from a Monero dev.

BCH has DSP (double spending proofs) which make zero confirmation payments safe for merchants.

Stavros 1y ago

Any explanations of this?

Râu Cao ⚡ 1y ago

The explanation is that "if the merchant is into UX", they're supposed to accept unconfirmed transactions as if they are confirmed. I.e. pretend they're confirmed for the sake of not having to wait until they are.