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Title: Confirming Payment ... 1 block, 2 blocks, 6 blocks? Post by: Stephen Gornick on November 28, 2010, 03:14:14 AM I sent a 1 BTC payment to MyBitcoin. At about 10 minutes later I got the Payment Notification email acknowledging the transfer. But my own client still showed unconfirmed.
When I logged into MyBitcoin ..., my Balance showed the 1.0 BTC. Is the number of blocks needed before "confirming" a transaction something that is subjective? I.e., why does the Bitcoin client wait until a different number .. (6 confirmations, I think ... ) to change to Confirmed, than what MyBitcoin uses? Title: Re: Confirming Payment ... 1 block, 2 blocks, 6 blocks? Post by: theymos on November 28, 2010, 03:34:11 AM MyBitcoin probably considers a transaction confirmed after 1 block. The more confirmations, the more difficult it is for the sender to reverse a transaction. 6 is almost impossible (and never profitable), but 1 is still extremely difficult. Even 0 is quite difficult. The last few pages of the Bitcoin paper have probability calculations for this.
Maybe MyBitcoin requires more confirmations when you deposit larger amounts of BTC. Title: Re: Confirming Payment ... 1 block, 2 blocks, 6 blocks? Post by: Stephen Gornick on November 29, 2010, 07:07:25 AM A nice thread on Confirmations from today as well:
http://bitcointalk.org/index.php?topic=1994.0 |