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Title: Bitcoin for Merchants Post by: kiba on July 14, 2011, 11:52:31 PM http://bitcoinweekly.com/articles/bitcoin-for-merchants-part-i
http://bitcoinweekly.com/articles/bitcoin-for-merchants-part-ii My staff writer, Vitalik Buterin concluded that a really strong payment system is key to Bitcoin's success. Discuss. Title: Re: Bitcoin for Merchants Post by: Alex Beckenham on July 15, 2011, 12:47:20 AM Quote 0/unconfirmed - the transaction has spread through the network to the destination. This happens almost instantly. 1/unconfirmed - a block passed while the transaction was unconfirmed. Reversing a transaction at this stage is extremely difficult. This takes 10 minutes. X confirmations - a miner put the transaction into a signed block, and the transaction is official and irreversible. This takes 10 minutes to over an hour, although if a transaction fee is used the transaction will almost certainly be included in the first block. I'm pretty sure 1/unconfirmed means a miner 'put the transaction into a signed block'. |