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Author Topic: How many confirmations to be sure about a transaction?  (Read 3605 times)
NETFix
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November 06, 2015, 08:46:56 PM
 #61

i'm not sure about it technically but most sites require at least 1 confirmation to use the site and withdraw, some require 3-6 confirmations.
23dzmaz
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November 07, 2015, 12:12:44 AM
 #62

maybe 5/6
ranochigo
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November 07, 2015, 01:43:51 AM
 #63

This is a great list Grin I bookmarked your post. One question remains. Why 0 confirmations? Wouldn't it be completely risky not waiting until it achieved at least one confirmation?

I think of it like this...

0 confirmations = fast food purchase
3 confirmations = expensive dinner
6 confirmations = cool dirt bike
10 confirmations = 40 acre farm
Nope. In fact, I feel that 0 confirmation is safe for less than $500 as long as it fits a few criteria.
1. Inputs must not be unconfirmed
2. Transaction has a reasonable fee/kb
3. There isn't any competing transactions
4. The mining pools and nodes at geographically distributed areas have seen it.

Most mining pools do not accept transactions with spent inputs and would include whichever transaction appeared first. Also, majority of network has Bitcoin Core as their client. They relay which ever transaction came first and would ignore any other transactions with spent input in their mempool. Of course, you can ask a miner to mine the double spend for you but it isn't worth it for less than $500.

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Christyfrazier
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November 21, 2015, 08:46:20 AM
 #64

Hi,

1 confirmation for low risk or low btc amount

6 confirmation for high risk high btc amount

Thanks
coinyoo
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November 21, 2015, 09:55:09 AM
 #65

OP, please close this topic. The question has been answered and all new answer are just copies of the others.

Hi,

1 confirmation for low risk or low btc amount

6 confirmation for high risk high btc amount

Thanks


jaberwock
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November 21, 2015, 12:08:59 PM
 #66

you are only sure when blockchain.info site doesn't show the number of confirmations(I think after 100 confirmations)

But every confirmation makes more and more unlikely some kind of doublespend. At the point of being in practice impossible. After 3 I think the risk is 0 no matter the value.

I'm still to know about some doublespend of a transactions that got 2 or more confirmations.

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