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Author Topic: How many confirmations is enough?  (Read 6050 times)
mtgox
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July 18, 2010, 01:28:19 AM
 #1

If I'm taking bitcoins as payment on my website how many confirmations should I wait for before accepting the payment?

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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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ArtemZ
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July 18, 2010, 01:32:23 AM
 #2

At least couple of confirmations. I think its more depends on how long are you gonna wait before you will completely accept payment. Because more confirmations takes more time
mtp
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July 18, 2010, 03:29:33 AM
 #3

I believe as a service provider currently considering accepting BTC, 10 confirmations is a valid waiting period for payment acceptance for at least mid-level transactions of less than $50 however if accepting for larger transactions, I would recommend a 20 confirmation minimum.

For transactions less than $10 perhaps a 5 confirmation requirement would be more sane of course.
coinspoolco
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February 25, 2014, 04:44:22 PM
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And this is how MtGox started.
JustAnotherSheep
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February 25, 2014, 06:37:27 PM
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And this is how MtGox started.
lol Cheesy

Posting for posterity!

Is it a bull? Is it a bear? No, it's just another sheep.
IIOII
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February 25, 2014, 07:24:21 PM
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Posting in epic thread.

BetWithCoins
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February 26, 2014, 12:49:53 AM
 #7

Haha, great find!

Horse Race Punting with Bitcoins!
Andrew717
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February 26, 2014, 01:15:32 AM
 #8

If I'm taking bitcoins as payment on my website how many confirmations should I wait for before accepting the payment?

Apparently you should've waited a few more.
cr1776
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February 26, 2014, 01:42:20 AM
 #9

If I'm taking bitcoins as payment on my website how many confirmations should I wait for before accepting the payment?

Apparently you should've waited a few more.

If MtGox is going to rely on the tx id alone, it seems the number of confirmations that is enough to accept the payment is infinite.

:-)
soullyG
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February 26, 2014, 10:45:46 AM
 #10

I'll just leave this here Grin

http://i.imgur.com/xMeW43a.jpg
thenoblebot
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February 26, 2014, 11:13:02 AM
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I'll just leave this here Grin

http://i.imgur.com/xMeW43a.jpg

+1
TrailingComet
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February 26, 2014, 12:00:57 PM
 #12

1 is enough in my view

6 is a banker

whatsthestory
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February 27, 2014, 07:40:30 AM
 #13

If I'm taking bitcoins as payment on my website how many confirmations should I wait for before accepting the payment?

A few confirmation is needed. If it will need more than a few well you shouldn't worry just wait a little.
DannyHamilton
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February 27, 2014, 10:29:01 PM
 #14

So many trolls in this thread.  I think I'm going to use this thread as a way to decide who to mark "ignore".  If they are giving advice here, they are either a troll or clueless.  Either way I don't value anything else they have to say.

Note:  You all realize that you are commenting in a thread from 2010 and giving advice to the now defunct MtGox, right?  Huh

cr1776
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February 27, 2014, 10:37:55 PM
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So many trolls in this thread.  I think I'm going to use this thread as a way to decide who to mark "ignore".  If they are giving advice here, they are either a troll or clueless.  Either way I don't value anything else they have to say.

Note:  You all realize that you are commenting in a thread from 2010 and giving advice to the now defunct MtGox, right?  Huh

There were a lot of people missing the point. Hence my comment above. :-)
bitjoint
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February 28, 2014, 12:52:12 AM
 #16

If I'm taking bitcoins as payment on my website how many confirmations should I wait for before accepting the payment?

Hi, I come from the future to tell you that 0 weren't enough. You screwed up...
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