Bitcoin Stack Exchange
Bitcoin Stack Exchange

Questions tagged [confirmations]

Confirmations correspond to the number of blocks that are dependent on a given transaction. This includes the block containing that transaction and all blocks after it in the blockchain. The more confirmations a transaction has, the more likely is it that it will remain in the blockchain permanently.

254 questions
11
votes
1 answer

How has the problem of waiting for confirmations been eradicated?

On the bitcointalk forum, evoorhees wrote: For a long time people said the "waiting for six confirmations" was a significant drawback, but most people understand that problem has been almost entirely eradicated. and Revalin replied: as you…
Chris Moore
  • 14,825
  • 6
  • 66
  • 87
9
votes
1 answer

How does confirmation exactly work?

When user A sends Bitcoins to user B, user A signs the transaction with his private key. This signed transaction is being sent to the Bitcoin network and all the nodes collect, confirm and pack these transactions to blocks by mining. Is that right…
Bevor
  • 205
  • 1
  • 2
  • 6
5
votes
2 answers

Is there any discrepency on Confirmations?

Is there ever a situation where some bitcoin client thinks a transaction has 3 confirmations and another bitcoin client (or website) thinks a transaction has 4 confirmations, for example?
themirror
  • 309
  • 1
  • 5
4
votes
3 answers

If you confirm others' transactions, what do you do to earn 25 bitcoins per block?

I was a bit surprised to learn that you can earn 25 bitcoins, just by confirming a block worth of transactions. If I've done the math right, at $493 per bitcoin, that's $12,325. Does one do a lot of work (beyond a few mouse clicks) to earn those 25…
Tom Au
  • 462
  • 3
  • 15
4
votes
2 answers

how long do i have to keep Bitcoin-Qt open after sending coins

Can I close Bitcoin-QT client and power off my computer just after sending coins to someone or do I need to wait until 1, 2...6 confirmations?
Francisco R
  • 283
  • 1
  • 3
  • 10
3
votes
2 answers

how long does it take to get 6 confirmations with confidence of 99%

I had this question in an exam but I was not very sure how to solve it: Suppose Bob the merchant wants to have a policy that orders will ship within x minutes after receipt of payment. What value of x should Bob choose so that with 99% confidence 6…
Digi
  • 31
  • 1
  • 2
3
votes
1 answer

Why are there so many confirmations?

A friend sent me Bitcoin to my blockchain wallet. It shows the amount as part of my balance. However, it says there are 108 confirmations and the number of confirmations keeps going up. Why is this happening? Can I spend this Bitcoin while…
Red Fergus
  • 33
  • 4
3
votes
2 answers

Can long time taken for confirmations become blocker for bitcoin adopotion?

As of today, it is observed that up to 6 confirmations are needed in most of the places to verify that the transaction is complete. Assuming that it takes 10 mins for one confirmation, it takes up to 1 hour for 6 confirmation. This is really long…
ghalways
  • 1,033
  • 4
  • 11
  • 18
1
vote
1 answer

Meaning of confirmation within n blocks?

I have a hard time understanding the meaning of below sentence: "To confirm within 48 blocks, a transaction fee of 1 satoshi/byte is required." I have 2 questions here: 1) Does this mean that the first confirmation of the transaction will probably…
Meysam Feghhi
  • 137
  • 4
1
vote
3 answers

Do I need N confirmations if I'm only worried about the transfer getting invalidated by a different block?

Say I ask Bob a lot of bitcoins in exchange for an expensive product. Bob sends it to me and I wait 1 confirmation to send him the product, because I trust Bob. I am only worried about the transaction being invalidated by a block that doesn't…
Alex
  • 123
  • 3
1
vote
1 answer

How to get confirmations for incoming transactions?

I'm currently working on accepting Bitcoins on my website. To do this I create a new address for every sale. I know I can get the amount of bitcoins that were paid into this address by using ./btcoind getreceivedbyaddress 0 or…
kramer65
  • 315
  • 2
  • 10
1
vote
1 answer

How to measure TX confirmation latency

Blockchaininfo has datahere on the confirmation times for transactions. Unfortunately it is unclear how they collect the data, nor if one could get similar data from say Namecoin. I'd like to include that data in a research paper or collect similar…
imichaelmiers
  • 266
  • 1
  • 4
0
votes
1 answer

why is the number of confirmations rising yet i haven't been credited with the bitcoins?

I have been waiting to receive bitcoins for close to 7 hours now. The number of confirmations is currently 111, so why is it so? here is the transaction batch 95d5dcb612446d67e38ef9246fdcd20a5f500766431321ba9ff7280567d01e59
orwasa
  • 1
  • 1
0
votes
1 answer

Definition of confirmation time in blockchain.info, Part 2

In my previous question (Determinant of confirmation time), I asked "What will be the definition of confirmation time and data used for https://blockchain.info/charts ?" Now I read "The classic bitcoin client will show a transaction as…
171124
  • 25
  • 4
0
votes
2 answers

Determinant of confirmation time

There seems to be a lots of variations in confirmation time. https://blockchain.info/charts/avg-confirmation-time I would like to understand factors that affects the confirmation time.
171124
  • 25
  • 4
1
2