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Author Topic: blockchain.info instant receive/send how?  (Read 86 times)
dimasinteger
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December 11, 2018, 05:48:42 PM
 #1

Hi,

Can anyone explain to me why when I  send BTC to my blockchain.info I receive it instantly? and i am able to spend it?

why do not I need to wait 20 mins for confirmations?

is that the 0 confirmation rule?

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Realerre
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December 11, 2018, 05:53:39 PM
 #2

As far as I know, blockchain has not implemented lighting payments for now.

That means that every payment made between blockchain.info wallets can be sent "instantly" to another blockchain wallet because internal rules (or at still I remember so), but to send it to a third part wallet you have to wait the confirmations.
hugeblack
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December 11, 2018, 09:09:17 PM
Merited by pooya87 (1)
 #3

Can anyone explain to me why when I  send BTC to my blockchain.info I receive it instantly?
You must differentiate between receiving and appearing. Some wallets show transactions after confirmation. [Use of Blockchain.info or others will not change the speed of transaction only fees.]
There is an inverse correlation between Bitcoin transaction Irreversible "double spending" and the number of confirmations.[1]

why do not I need to wait 20 mins for confirmations?
You do not need twenty minutes, the time of confirmation varies depending on the fee and mempool [check [2] or [3]*].

[1] https://en.bitcoin.it/wiki/Irreversible_Transactions
[2] https://core.jochen-hoenicke.de/queue/#24h
[3] https://bitcoinfees.earn.com/
* Not accurate

sunsilk
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December 13, 2018, 03:36:03 PM
 #4

It is just showing the upcoming sent bitcoin to you but it needs to be confirmed before you fully receive it. However you can still send that quickly to another wallet but it won't be received by the receiver unless it is confirmed with the first transaction.

I remember those times that I receive and send bitcoin instantly but it won't happen today though the waiting isn't too long when you pay the high priority fee.

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December 13, 2018, 04:13:39 PM
 #5

i didnt know the answer, thank you guys for explain.what happened to lightning network by the way?it may change everything about the slow transfer of bitcoin.

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December 13, 2018, 05:37:58 PM
 #6

Firstly, it's not blockchain.info anymore, it's blockchain.com. secondly, what you are asking can't be done. You can see the transaction almost instantly but won't be able to spend it.

If they implement Lightening Network in future, probably you will be able to get what you are asking because the confirmation time will be reduced to a great extent. But you can't do that now!

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