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Author Topic: Time needed for a confirmation  (Read 1187 times)
gabbello (OP)
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June 12, 2013, 02:45:20 PM
 #1

Hello,

I'm checking my transactions (some of them with 0.00 fee) on blockchain.info and the Estimated Confirmation Time jumps from a couple of hours to a few minutes and then back to 4-5 hours. Even the queue position jumps back and forth. What guarantees that in the end a transaction will get a confirmation and why the high volatility of the estimation times from blockchain.info

tom1
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June 12, 2013, 02:53:05 PM
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Do you have a txid?

gabbello (OP)
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June 12, 2013, 02:54:33 PM
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https://blockchain.info/tx/dcf906b2b63a29a3eeec36deccba99392165685acbf6f3e9e2ff20829891c23e

tom1
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June 12, 2013, 03:29:53 PM
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Confirmations: 6 Confirmations Wink

Axiom
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June 12, 2013, 04:02:38 PM
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Blockchain is under maintenance! No!
gabbello (OP)
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June 12, 2013, 04:42:21 PM
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Yes, I know that now I have 6 confirmations, but throughout a couple of hours after the transaction was done, the estimated time was jumping around as I explained.

 Since I do not have enough experience with transactions I wonder if this is normal (time to ump from several minutes to several hours and back). Anyway, maybe this was caused by the maintenance from blockchain.


 

kodo
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June 12, 2013, 04:43:22 PM
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6 confirmations is plenty, in reality 1 is fine enough for any small transaction
orymh
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June 12, 2013, 04:57:52 PM
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Yes, I know that now I have 6 confirmations, but throughout a couple of hours after the transaction was done, the estimated time was jumping around as I explained.

 Since I do not have enough experience with transactions I wonder if this is normal (time to ump from several minutes to several hours and back). Anyway, maybe this was caused by the maintenance from blockchain.
 

It's normal. The time estimates aren't a linear thing; it's not like downloading a file, where you start downloading, it takes a certain amount of time, and then you've got the whole file. The confirmation time estimates are more like a dialog saying "check back in this many minutes to see if anything has happened yet."

kodo
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June 12, 2013, 05:25:42 PM
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5 confirmations is usually how much I ask for.
rme
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June 12, 2013, 06:02:50 PM
 #10

10 minutes in average for 1 confirmation
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June 13, 2013, 06:03:10 AM
 #11

What guarantees that in the end a transaction will get a confirmation
The transaction fee. Strictly speaking, the fee doesn't guarantee that your transaction will be confirmed, but it gives miners a direct financial incentive to do so. If you fail to include a sufficient transaction fee, your transaction is likely to take a very long time to be confirmed, and there's no guarantee it ever will.

and why the high volatility of the estimation times from blockchain.info
The estimate is just that: an estimate. It takes into account the transaction fee you included versus the transaction fee that was expected and the priority of your transaction versus other unconfirmed transactions, but at the end of the day, it all comes down to whether a miner is willing to include your transaction in a block, and there's just no way to predict when (if ever) that'll happen.

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