bitcoin confirmation times

[dimasinteger]

Hi All,

If I send BTC from coinbase to my blockchain.info wallet - I receive my BTC instantly, and I'm able to spend them right away without the need to wait for 10-20 mins for confirmations...

How is that possible? is blockchain.info set to accept 0-confirmations for BTC? if yes, how am I able to send BTC from Coinbase --> blockchain.info instantly and from blockchain.info to another address? where is the 10 mins block for each transaction?

Another thing, one time I purchased BTC from localbitcoins.com and the seller sent me BTC to my trezor, however, the transaction was not recorded on the blockchain? and the seller told me that there is a system in localbitcoins.com which allows sending to BTC addresses independently.

I'm cofused here and would appreciate some info..

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[OmegaStarScream]

Are you sure about that and have that happened multiple times because It's possible that you were lucky and your transaction was included into a block right away? Blockchain.info doesn't let you spend funds that have 0 confirmation as far as I know.

As for localbitcoins then unless the transaction is sent to another localbitcoins wallet, It should proceed like any other bitcoin transaction (correct me if I'm wrong).

[BrewMaster]

technically you can create an infinite chain of transactions none of which confirmed. so it IS possible. but that doesn't mean the transactions are final. think of it as writing checks. you write a check but you don't have money in your account, then you give the check to another person and that person writes a check of his own spending your check and so on. but until you fill your account with money and until the bank clears the check transaction none of the others would get any money.

Another thing, one time I purchased BTC from localbitcoins.com and the seller sent me BTC to my trezor, however, the transaction was not recorded on the blockchain? and the seller told me that there is a system in localbitcoins.com which allows sending to BTC addresses independently.

this is a confusing statement!
i am not familiar with localbitcoins' internal work but maybe he is talking about funding your "account" although i don't think there is such thing there. in any case unless you see funds in your wallet you shouldn't be making any payments.

[SistaFista]

Hi All,

If I send BTC from coinbase to my blockchain.info wallet - I receive my BTC instantly, and I'm able to spend them right away without the need to wait for 10-20 mins for confirmations...

How is that possible? is blockchain.info set to accept 0-confirmations for BTC? if yes, how am I able to send BTC from Coinbase --> blockchain.info instantly and from blockchain.info to another address? where is the 10 mins block for each transaction?

Another thing, one time I purchased BTC from localbitcoins.com and the seller sent me BTC to my trezor, however, the transaction was not recorded on the blockchain? and the seller told me that there is a system in localbitcoins.com which allows sending to BTC addresses independently.

I'm cofused here and would appreciate some info..

Well, bitcoin confirmation time is around 10 minute. In 10 minute time range, bitcoin network collect many transactions and processing in 1 block.
Maybe your transaction was after 9 minute of the last bitcoin block, so you need only 1 minute to be processed. But maybe im wrong because this is only my thought.

[mmo4me.2016]

Time defined the Bitcoin transaction or first altcoin is the time Blocking the next occurrence. But it will be depend on the transaction number of waiting to wait, fee of transaction!

[o_e_l_e_o]

Well, bitcoin confirmation time is around 10 minute. In 10 minute time range, bitcoin network collect many transactions and processing in 1 block.
Maybe your transaction was after 9 minute of the last bitcoin block, so you need only 1 minute to be processed. But maybe im wrong because this is only my thought.

It's worth noting that the time between blocks is currently around 10-15 minutes on average, but this is highly variable.

You can look at the most recent blocks mined here: https://www.blockchain.com/btc/blocks. If you look at yesterday (08 Oct 2018), you can see that between blocks 544839, 544840, and 544841, there was only 48 seconds - 17 seconds between the first two blocks, and 31 seconds between the next two. However, you can also see that between blocks 544893 and 544894, there was a gap of almost an hour.

So while you are correct that OP's transactions were probably just luckily timed and were included in a block quickly after being broadcast, the 9 minute/1 minute example you gave isn't necessarily true.

[Oliedric]

Transation confirmation times are variable at times. The average confirmation time is 10-15 mins. Instatnt confirmations raises no issue of concern.

[Astaling]

Transaction times varies time to time. Although the average time is 10-15 mins instant transactions sometimes can happen. There are nothing to concern about.

[Ethigokath]

Without 0 confirmation I don't think this transaction is possible. Just like BrewMaster said, it is similar to a bank cheque. This is an interesting development though. I can't disregard the possibility of a glitch to be honest.

[Wigowien]

It usually takes about 10 minutes to confirm the transaction. But there always can be exceptions. It should not be anything to be concerned about.

[Cajor]

The confirmation times from time to time depend on luck, if the services are busy obviously it'll take longer and won't happen immediately and also depending on what service you're using will also count into if the transaction times will be long or short.

[batang_bitcoin]

Few years ago that was possible that you can receive immediately the bitcoin's sent to you but today its not like that anymore. Maybe you are just lucky enough as explained above but most of the time it really takes a couple of minutes before receiving it.

With the second situation of sending BTC from LBC > Trezor without being recorded its TXID to the network that's unusual. Are you really sure that you used a trezor wallet address?

Btw, blockchain.info > blockchain.com now.

[maxilopez]

maybe there they simply put the highest price for a commission and because of this it comes the fastest. Have you thought about it?

[Aidenpeters]

That is new. I am sure there is a explanation behind this. It normally takes a considerable amount of time for the transaction to be confirmed.

[BTalarmus]

You are just lucky that your recently created transaction immediately got into the newly created block. If all transactions could fit in one block, it would mean that time of their passage could not be more than 20 minutes - the time during which the next block of the Bitcoin network is created.