Why is Bittrex taking 20 confirmations to deposit BCash?

[manselr]

When trying to dump my BCash for more BTC, I am faced with several problems. One of them, is needing to send a transaction for each public key in order to maintain privacy.

The other is, how slow BCash is. Bittrex is taking 20 confirmations for deposits, which means it will take me forever to dump the entirity of my wallet.

I have seen other exchanges, that don't require 20 confirmations. Why does Bitttrex require 20 confirmations, while others like Bitfinex seem to take less? Is it safe to take less than 20 confirmations when depositing? Please help.

[1714770431]

1714770431

[B470]

It's a safety precaution. For your protection.

Right now, blocks @ 55 min. So a day won't kill you.

[manselr]

It's a safety precaution. For your protection.

Right now, blocks @ 55 min. So a day won't kill you.

Yup, but imagine that you need to send a separate transaction for every single different address you have, as you should, because otherwise your privacy is compromised, since all of your coins would be joined within the same address, a big mistake for your anonymity again.

So that means, if you received BTC 100 times under 100 different addresses, you need to make 100 different transactions into Bittrex. At current rate, that's 100 days!!!


Why is few people talking about this problem?

[bathrobehero]

It's a safety precaution. For your protection.

Right now, blocks @ 55 min. So a day won't kill you.

Yup, but imagine that you need to send a separate transaction for every single different address you have, as you should, because otherwise your privacy is compromised, since all of your coins would be joined within the same address, a big mistake for your anonymity again.

So that means, if you received BTC 100 times under 100 different addresses, you need to make 100 different transactions into Bittrex. At current rate, that's 100 days!!!


Why is few people talking about this problem?

That's not how this works.

Each transaction taking 20 transactions are not additive. You can send however many transaction you want, they'll be confirmed in 20 blocks from the time you have sent them so if you send a lot, all of them will get confirmed at the same time.

[chiznitz]

When trying to dump my BCash for more BTC, I am faced with several problems. One of them, is needing to send a transaction for each public key in order to maintain privacy.

The other is, how slow BCash is. Bittrex is taking 20 confirmations for deposits, which means it will take me forever to dump the entirity of my wallet.

I have seen other exchanges, that don't require 20 confirmations. Why does Bitttrex require 20 confirmations, while others like Bitfinex seem to take less? Is it safe to take less than 20 confirmations when depositing? Please help.

Now that the network is finding blocks more smoothly we have reduced confirmations to 10.

[manselr]

It's a safety precaution. For your protection.

Right now, blocks @ 55 min. So a day won't kill you.

Yup, but imagine that you need to send a separate transaction for every single different address you have, as you should, because otherwise your privacy is compromised, since all of your coins would be joined within the same address, a big mistake for your anonymity again.

So that means, if you received BTC 100 times under 100 different addresses, you need to make 100 different transactions into Bittrex. At current rate, that's 100 days!!!


Why is few people talking about this problem?

That's not how this works.

Each transaction taking 20 transactions are not additive. You can send however many transaction you want, they'll be confirmed in 20 blocks from the time you have sent them so if you send a lot, all of them will get confirmed at the same time.

Ah that is true. I realized it gets added in batches of 20 minute blocks (apparently now every 10 minutes, according to the poster above which seems he works at bittrex)

Im going to try sending some transactions just to test things out and see what happens. Hopefully everything goes okay.

[david123]

No wonder, who wants to mine that crap at the same difficulty as legit BTC.
The strangest thing about this is the diff adjustments downwards, cf. Jimmy Song's medium
article. I have no idea who came up with such strange rules and what is the rationale behind them.