Payments are not in real time

A Bitcoin payment is not a real-time payment. It can take up to ten minutes for a payment to be verified, and the general rule is that one should wait six verification rounds to be sure that the payment was actually added to the blockchain.11 Obtaining verification for a Bitcoin payment can thus take up to around an hour. Depending on the situation, this can be perceived as a long or short space of time.

 It is also worth noting that, due to the file sharing technology and the verification process, there is no central storage location for the block chain. Each network participant has information about all or parts of the block chain.

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