Title: How many confirmations does it take to verify the deposit? Post by: jonson234 on February 24, 2015, 08:17:32 AM I was taked payment on btc . i want konw How many confirmations does it take to verify the deposit / not refund client ?
thanks Title: Re: How many confirmations does it take to verify the deposit? Post by: findftp on February 24, 2015, 08:39:19 AM I was taked payment on btc . i want konw How many confirmations does it take to verify the deposit / not refund client ? thanks With 1 confirmation, there is 50/50 chance of a double spend is possible. Every confirmation reduces that chance significantly Title: Re: How many confirmations does it take to verify the deposit? Post by: medUSA on February 24, 2015, 08:44:51 AM I was taked payment on btc . i want konw How many confirmations does it take to verify the deposit / not refund client ? thanks I would take 1 confirmation as received payment if amount is small, and may be 2 or 3 for 1 btc and above. I would say 6 confirmations is extremely safe against double spending attempts. Title: Re: How many confirmations does it take to verify the deposit? Post by: maurya78 on February 24, 2015, 08:47:07 AM 1 confirmation should more than suffice for small amounts
Title: Re: How many confirmations does it take to verify the deposit? Post by: JessicaSe on February 24, 2015, 08:52:23 AM i have seen most peoples and exchanges want atleast 3 confirmation
Title: Re: How many confirmations does it take to verify the deposit? Post by: koelen3 on February 24, 2015, 12:02:34 PM After 3-4 confirmation
So go for 4 Title: Re: How many confirmations does it take to verify the deposit? Post by: Bitdonator on February 24, 2015, 01:26:16 PM Minimum number of 3 confirmations is enough to verify deposit.
Some services / exchanges use 6 confirms. Title: Re: How many confirmations does it take to verify the deposit? Post by: ColderThanIce on February 24, 2015, 01:29:42 PM i think it also depends on the amount of the transaction. for example, with a transaction under 5 btc, then 3 confirmations is good. if the transaction is over 1000 btc then 6 confirmations would be safe to verify the deposit. if the transaction is < 1 btc then i'd say 1 confirmation would be enough.
Title: Re: How many confirmations does it take to verify the deposit? Post by: Big0Bang on February 24, 2015, 01:31:33 PM In China, most gambling/exchanges demands 1 confirmation, one is enough.
Title: Re: How many confirmations does it take to verify the deposit? Post by: wadili89 on February 24, 2015, 01:34:58 PM 1 confirmation in enough and non doubled able anyways if you want to be more safe and secure wait for 3 or 4 confirmations
Title: Re: How many confirmations does it take to verify the deposit? Post by: ranochigo on February 24, 2015, 04:03:35 PM Sometimes, transactions with no confirmations that are relayed well over the network can be effective enough to prevent doublespending. For safety reasons, 3-6 confirmations are usually required by exchanges dealing with high volumes. You may want to implement bitpay to simplify things.
Title: Re: How many confirmations does it take to verify the deposit? Post by: jjacob on February 24, 2015, 05:44:09 PM It depends on the transaction amount.
For low value transactions, 1 confirmation is enough. Double spend is considered next to impossible if there are 6 confirmations. Title: Re: How many confirmations does it take to verify the deposit? Post by: leblanc on February 24, 2015, 06:43:31 PM Like most mentioned, it only takes 1 confirmation to update the balance to show.
But waiting for the confirmation can take awhile or little as like 5 mins. Title: Re: How many confirmations does it take to verify the deposit? Post by: HarmonLi on February 24, 2015, 07:01:42 PM Depends on the amount, as well. When selling someone a coffee I may not even require a single confirmation, just seeing the network accepted the transaction and maybe listening for attempted double-spends is enough. For $10-$100 I'd wait 1-2 confirmations, for $100-$1000 3-4 confirmations, and $1000-$5000 5 confirmations. Above than I think 7 or so.
Title: Re: How many confirmations does it take to verify the deposit? Post by: PonZ on February 24, 2015, 07:55:18 PM 1 to 6 based upon the amount
Title: Re: How many confirmations does it take to verify the deposit? Post by: Amph on February 24, 2015, 08:16:29 PM until 3 there is still chance of double spending, there are other attacks besides 51%, i would say 5, to be safe
to just verify you need 1 Title: Re: How many confirmations does it take to verify the deposit? Post by: dothebeats on February 24, 2015, 09:26:05 PM Most services and clients prefer 3 confirmations before flagging a transaction complete. It is safe to say that 3 confirmations are enough to avoid double spending.
Title: Re: How many confirmations does it take to verify the deposit? Post by: locopao on February 24, 2015, 09:39:47 PM One confirmation is good, 2-3 confirmations is even better
I just watch my multibit wallet when it shows "spendable" for the amount i just received, so i am sure that this amount is ok received. Title: Re: How many confirmations does it take to verify the deposit? Post by: ChuckBuck on February 24, 2015, 10:45:22 PM When I transact with Coinbase, payment or withdrawal or deposit, they recommend 3 or more confirmations.
If you're talking about something smaller like $5 or less, I would wait for the 1 confirmation and be on my way. Title: Re: How many confirmations does it take to verify the deposit? Post by: Marcy on February 25, 2015, 01:41:39 AM usually 1 confirmation but there is also necessitated 6 confirmation
but 1 confirmation its good enough :) Title: Re: How many confirmations does it take to verify the deposit? Post by: TrianglePythagoras on February 25, 2015, 04:07:47 AM Always wait for 5 confirms. That's my restriction.
Title: Re: How many confirmations does it take to verify the deposit? Post by: daviswilla on February 26, 2015, 02:59:20 PM if you want to be more secure and safty, you have to wait for 3 or 4 confirmations.
Title: Re: How many confirmations does it take to verify the deposit? Post by: Gisado on February 26, 2015, 03:05:03 PM I tend to wait for 6 confirmation, just to feel safe.
Title: Re: How many confirmations does it take to verify the deposit? Post by: uki on February 26, 2015, 03:39:30 PM as it was already written it mainly depends on the amount you want to send/receive. Time is another factor.
Exchanges most typically use 3 confirmations to avoid double spending. I would recommend anything between 3 and 6 as a reasonable value. Title: Re: How many confirmations does it take to verify the deposit? Post by: carlosiness on February 26, 2015, 06:27:33 PM 6 confirmations for full assurance
Title: Re: How many confirmations does it take to verify the deposit? Post by: [Newbie] on February 27, 2015, 03:57:28 AM Just wait after 4-5 confirmations 8)
Title: Re: How many confirmations does it take to verify the deposit? Post by: ranochigo on February 27, 2015, 11:53:02 AM 6 confirmations for full assurance Transactions can be reversed even after 6 confirmations. Dont take it as a insurance. If one entity controls 51% of the hashrate, he could execute and attack which would allow him to reverse transactions with 6 confirmations and above. However, the more confirmations it has, the lesser chance it can be reversed. The problem is most people can't afford to wait for 6 confirmations. Which can take up to one hour or maybe 2.Title: Re: How many confirmations does it take to verify the deposit? Post by: sakira on February 27, 2015, 02:59:50 PM I tend to wait for 6 confirmation, just to feel safe. what if I waited under 6 confirmation? what it does not feel safe? Title: Re: How many confirmations does it take to verify the deposit? Post by: Q7 on February 27, 2015, 03:10:26 PM That depends largely on the amount that you are receiving. For anything worth a mere few buck, I would say 2 confirmation is likely more than enough. For an attacker it's not worth trying to force a double spend and cheat with that such small amount. For large transactions, the safest is 6 confirmations.
Title: Re: How many confirmations does it take to verify the deposit? Post by: Gisado on February 27, 2015, 03:14:28 PM I tend to wait for 6 confirmation, just to feel safe. what if I waited under 6 confirmation? what it does not feel safe? Title: Re: How many confirmations does it take to verify the deposit? Post by: uki on February 27, 2015, 03:16:44 PM I tend to wait for 6 confirmation, just to feel safe. what if I waited under 6 confirmation? what it does not feel safe?Title: Re: How many confirmations does it take to verify the deposit? Post by: ranochigo on February 27, 2015, 03:40:51 PM I tend to wait for 6 confirmation, just to feel safe. what if I waited under 6 confirmation? what it does not feel safe?Title: Re: How many confirmations does it take to verify the deposit? Post by: NadineWilliams on March 04, 2015, 08:59:43 AM At least 3 confirmations to avoid double spending
many exchange will be credited after 3 confirmations on the Bitcoin network. Title: Re: How many confirmations does it take to verify the deposit? Post by: ranochigo on March 04, 2015, 11:12:46 AM At least 3 confirmations to avoid double spending One confirmation would typically stop any double spending. However, doublespending cannot be avoided unless it has a lot of confirmations. More blocks just reduces the risk of double spending.many exchange will be credited after 3 confirmations on the Bitcoin network. Title: Re: How many confirmations does it take to verify the deposit? Post by: okthen on March 04, 2015, 11:13:15 AM At least 5 confirmations, to be on the safe side.
Title: Re: How many confirmations does it take to verify the deposit? Post by: Herbert2020 on March 04, 2015, 12:52:06 PM I was taked payment on btc . i want konw How many confirmations does it take to verify the deposit / not refund client ? only one conformation is enough. but depending on the amount and the service you might use, they sometimes require more confirmation upto 5 timesthanks Title: Re: How many confirmations does it take to verify the deposit? Post by: najzenmajsen on March 04, 2015, 01:48:31 PM aslong as you dont do very big trades , 1 confirmation is above enough :) to be extremly safe go for 10-15 + ( 100 btc + ) or maybe you're just very safe about your coins.
Title: Re: How many confirmations does it take to verify the deposit? Post by: najzenmajsen on March 04, 2015, 01:49:31 PM At least 5 confirmations, to be on the safe side. saying that you're on the safe side with 5 confirmations , is like saying 20% is considered safe. '-'Title: Re: How many confirmations does it take to verify the deposit? Post by: Kipsy89 on March 04, 2015, 01:56:40 PM I'm fine with transactions being registered by blockchain.info, blockr.io, etc. and don't wait for confirmations, usually. I don't believe a double-spend is that easy. But you should set your limit according to your own risk-assessment.
Title: Re: How many confirmations does it take to verify the deposit? Post by: ThEmporium on March 05, 2015, 08:31:25 AM 3 confirmations are fine but there's hardly a chance of double spend
Title: Re: How many confirmations does it take to verify the deposit? Post by: TheGrapist on March 05, 2015, 12:36:49 PM 1 confirmation should more than suffice for small amounts Why do exchange go for 3-4 confirmation even on small amt? Title: Re: How many confirmations does it take to verify the deposit? Post by: ranochigo on March 05, 2015, 02:08:55 PM 1 confirmation should more than suffice for small amounts Why do exchange go for 3-4 confirmation even on small amt? Title: Re: How many confirmations does it take to verify the deposit? Post by: Gaugh on April 05, 2016, 09:12:25 AM i think it also depends on the amount of the transaction. for example, with a transaction under 5 btc, then 3 confirmations is good. if the transaction is over 1000 btc then 6 confirmations would be safe to verify the deposit. if the transaction is < 1 btc then i'd say 1 confirmation would be enough. I think it would be best to wait for 3 confirmations even for transactions <1 btc. For transactions > 4 btc then 6 confirmations will be enough. That's just what I'd do. Title: Re: How many confirmations does it take to verify the deposit? Post by: sallymeeh27 on April 07, 2016, 02:24:49 PM I was taked payment on btc . i want konw How many confirmations does it take to verify the deposit / not refund client ? thanks With 1 confirmation, there is 50/50 chance of a double spend is possible. Every confirmation reduces that chance significantly |