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Title: My transaction got approved in < 10 minutes Post by: Dice on June 18, 2012, 10:09:35 PM I always assumed that it takes a solid hour for transactions to move from point a to point b with 6 confirmations.
It only took 10 minutes today? And whats even more crazy is that there has been 7 blocks found in the space of 10 minutes? Whats going on? or is blockchain.info lying? Title: Re: My transaction got approved in < 10 minutes Post by: malaimult on June 18, 2012, 10:16:28 PM you got lucky ;D
my fastest move was 20 min Title: Re: My transaction got approved in < 10 minutes Post by: Stephen Gornick on June 18, 2012, 10:41:13 PM Whats going on? or is blockchain.info lying? ASIC testing? Here's a second look. yes, there were seven blocks in about a ten minute span recently. - http://blockexplorer.com/ Title: Re: My transaction got approved in < 10 minutes Post by: InterCoin on June 18, 2012, 10:48:21 PM Whats going on? or is blockchain.info lying? ASIC testing? Here's a second look. yes, there were seven blocks in about a ten minute span recently. - http://blockexplorer.com/ How is that even possible??? Title: Re: My transaction got approved in < 10 minutes Post by: DILLIGAF on June 19, 2012, 12:59:06 AM Whats going on? or is blockchain.info lying? ASIC testing? Here's a second look. yes, there were seven blocks in about a ten minute span recently. - http://blockexplorer.com/ How is that even possible??? Random luck eventually you will see a period coming up where blocks will take half an hour or more to be found to even it out to the 6 per hour again. Title: Re: My transaction got approved in < 10 minutes Post by: ajze on June 19, 2012, 03:27:28 AM Whats going on? or is blockchain.info lying? ASIC testing? Here's a second look. yes, there were seven blocks in about a ten minute span recently. - http://blockexplorer.com/ How is that even possible??? Random luck eventually you will see a period coming up where blocks will take half an hour or more to be found to even it out to the 6 per hour again. It's actually possible that there will never be another block that takes more than 10 minutes. It's just VERY unlikely :) The protocol automatically adjusts the difficulty to keep the average time to 6 min. per block, but thanks to the laws of probability and constantly changing network computing power, it's common to see blocks last from seconds to hours. Title: Re: My transaction got approved in < 10 minutes Post by: Meni Rosenfeld on June 19, 2012, 03:44:18 AM Block finding times are random.
The probability that within an interval of 10 minutes at least 7 block will be found is about 1/12000. Which means that it's very likely this has happened many times before. |