I edited the post to reflect that with the new protocol it does not require a 2-step process and thus the transfer is not reversible.One more question: From my understanding we have instant confirmation (or maybe 30 sec) here .. is this true .. No real need to wait for 6 confirmations .. a single one must be sufficient?!?
It shouldnt be sufficient because forks are still real possibility. But lets someone with more knowledge elaborate.
Confirmation time is dynamic based upon the number of missed blocks. If no blocks have been missed recently then 1 confirmation is enough. For every block that is missed you add 2 confirmations to the requirement. Generally speaking 2 confirmations should be plenty (30 sec to 1 minute).
The real issue is that you don't want to require someone to be online to receive funds.