Hi, my name is Jaap and im currently writing my thesis about the legal aspects of bitcoins. I have the following question. I really hope anyone can help me with this problem.
On the internet it says that the average time a block is found is around 10 minutes.
It also says that the average confirmation time for a transaction is around 16 minutes.
However, the confirmation time is calculated upon six confimations (5 new blocks). In my calculation the average confirmation than should be (5*10) 50 minutes in stead of 16 minutes.
How is this possible?
Many thank!