Bitcoin Forum

Assuming I send someone bitcoins for something.  At what point do they confirm and send me the other funds.  I know when i sent bitcoins to different sites, it takes a bit because certain sites require 3 confirmations... other sites a few more etc.


But once the bitcoin is sent to someone, and they receive the bitcoin but it has no confirmations yet, are they suppose to send the other funds?  Or they are suppose to wait for 1 confirmation, 2 or 3 etc. 


Once you send another person bitcoins, a person should receive it pretty quickly right?  And once they receive it even though it says unconfirmed, they are suppose to release the bitcoins?  Asking this because a while back i traded with someone not here on this forum where i sent them bitcoin... once they received it, they sent me poker funds right afterwards.  I'm pretty sure after i sent the bitcoin, they confirmed receiving the bitcoins pretty quickly.  But i also want to know if i were to receive bitcoin and give someone else some other funds, at what point do i release the other funds when i receive their bitcoin?  The moment it says bitcoin received to my electrum wallet?  Or i have to wait for confirmations?  So when someone send bitcoin and i haven't received it yet... my electrum won't say bitcoin received right?  And when i have electrum opened and i receive the bitcoin, how many confirmations will it show?  Been a while since i sent someone bitcoins and dont really recall it that well.

Bitcoins are only considered to be received after the transaction has been confirmed (i.e. added to the block chain). The number of confirmations required is negotiable. The time between confirmations is random, but it averages one every 10 minutes.

Generally you should wait at-least for one confirmation when you're trading for smaller amounts say less than 1 bitcoins and for larger trades waiting upto 3 confirmations is recommended imho.

Electrum will show the transaction (unconfirmed) as soon as hit the network.

he can send as long as the "?" unconfirmed transaction appear, there is no real wait for any conf, all the attack to the network will not be done for the tiem being, that is guaranteed

The ideal scenario for you would be to only release the funds once you get at least 1 confirmation since if you ignore this and send them the other fund right away, there are chances that, the transaction never gets confirmed due to either double spend or some other reason like the user sending less fee that it supposed and etc... so always make sure you take necessary measurements unless the person your dealing with, have a long history of transactions with you in which you could trust him and send him before it gets confirmation but still don't risk at all.

You can possibly send other funds too, but you need to take care of the fee in your previous transaction that it should be the minimum, and you are good to go...
Still I would like to advice that you should at least wait for 1 confirmation before going to send other funds, because if that first transaction doesn't get confirmed earlier, you won't be able to make 3rd, 4th and so on transactions...