Is this still a thing?

[Somegory]

After several years have past is it still the same that 1 confirmation on Bitcoin transaction isn't enough?
Assuming someone paid me in Bitcoin for something and all I get is 1 confirmation is it enough to start moving on and say yes I have received, you can go.

Also is it still possible that. 1 confirmation transaction can still be reversed?
I have read this online that it was a big problem at one time, but I can't tell if this is still a thing today because fewer upgrades have been applied to Bitcoin network in this past years.

[SilverCryptoBullet]

After several years have past is it still the same that 1 confirmation on Bitcoin transaction isn't enough?
Assuming someone paid me in Bitcoin for something and all I get is 1 confirmation is it enough to start moving on and say yes I have received, you can go.

Also is it still possible that. 1 confirmation transaction can still be reversed?
I have read this online that it was a big problem at one time, but I can't tell if this is still a thing today because fewer upgrades have been applied to Bitcoin network in this past years.

It depends on how much is your transaction value but with most of us and most of transactions, 1 confirmation is enough to consider that the deal was done.
How many Bitcoin confirmations is enough?

You can use this calculator for 51% attack probability.
https://jlopp.github.io/bitcoin-confirmation-risk-calculator/

If you've been paying attention to Bitcoin for more than a few minutes, you're probably aware that it's dangerous to accept unconfirmed (AKA 0-conf) transactions. With zero confirmations, you as a receiver of BTC are vulnerable to the race attack, the Finney attack, as well as the 51% attack.

If you are patient enough to wait for at least one confirmation then you are no longer vulnerable to race attacks or Finney attacks. Now your only concern is 51% attacks. What's the rule of thumb for an acceptable number of confirmations?

1 confirmation: sufficient for small payments less than $1,000.

3 confirmations: for payments $1,000 - $10,000. Most exchanges require 3 confirmations for deposits.

6 confirmations: good for large payments between $10,000 - $1,000,000. Six is standard for most transactions to be considered secure.

10 confirmations: suggested for large payments greater than $1,000,000.

[hosemary]

I have read this online that it was a big problem at one time, but I can't tell if this is still a thing today because fewer upgrades have been applied to Bitcoin network in this past years.

No upgrade can make a bitcoin transaction with a single confirmation 100% final.
Bitcoin is decentralized and there is no authority that can say "OK, this transaction has received 1 confirmation and it's final".

The more confirmations a Bitcoin transaction receives, the more difficult it becomes to remove it from the blockchain. It has always been like this and will remain the same forever.
If you are going to receive funds from someone you trust completely, even an unconfirmed transaction may be enough. In the case you don't trust the sender, it's much better to wait for more than one confirmation, especially if it's a large amount of funds.

[Doan9269]

It is ideal that at least more than 1 confirmation occurs on a transaction, just to be hundred percent sure that there's no an chance of losing out, when we have a number of miners there and the transaction needed to be more sure of total compliance to the protocols and having more than one is just a display on the network integrity and accuracy ensuring things are done perfectly and as expected, introducing new protocols against this may not be needed, because there's always a need to very and be sure the only means was not altered.

[MusaMohamed]

I have read this online that it was a big problem at one time, but I can't tell if this is still a thing today because fewer upgrades have been applied to Bitcoin network in this past years.

1 confirmation is the minimum one but if you are more careful and have time for waiting a little bit, you can wait for 2 or 3 confirmations. You must know one interesting thing that the first confirmation can be stressful and take a long waiting time by your lower and less competitive transaction's fee rate compares to other pending transactions in Bitcoin mempools.

After getting a first confirmation, your transaction can get a second or third confirmation in next several seconds or one to two minutes as there is chance for two blocks mined consecutively with each other.

Another way to explain it for you by Antonopoulos in his book.
https://github.com/bitcoinbook/bitcoinbook/blob/develop/ch11_blockchain.adoc

One way to think about the blockchain is like layers in a geological formation, or glacier core sample. The surface layers might change with the seasons, or even be blown away before they have time to settle. But once you go a few inches deep, geological layers become more and more stable. By the time you look a few hundred feet down, you are looking at a snapshot of the past that has remained undisturbed for millions of years. [iIn the blockchain, the most recent few blocks might be revised if there is a chain reorganization due to a fork. The top six blocks are like a few inches of topsoil. But once you go more deeply into the blockchain, beyond six blocks, blocks are less and less likely to change. [/i]After 100 blocks back there is so much stability that the coinbase transaction—​the transaction containing the reward in bitcoin for creating a new block—​can be spent. While the protocol always allows a chain to be undone by a longer chain and while the possibility of any block being reversed always exists, the probability of such an event decreases as time passes until it becomes infinitesimal.

[Cryptomultiplier]

After several years have past is it still the same that 1 confirmation on Bitcoin transaction isn't enough?
Assuming someone paid me in Bitcoin for something and all I get is 1 confirmation is it enough to start moving on and say yes I have received, you can go.

Also is it still possible that. 1 confirmation transaction can still be reversed?
I have read this online that it was a big problem at one time, but I can't tell if this is still a thing today because fewer upgrades have been applied to Bitcoin network in this past years.

Of course it is possible for 1 confirmation to be reversed in the theory of chain reorganization, reorg. It is a mathematical reality of the system.
A 1 confirmation takes nothing more than 10 mins approximately, and this reduces the risk of such a transaction being a scam transaction, so one can rest easy until the 3rd confirmation is correct which shouldn't be more than 30 minutes in total.
You can also check for these confirmations using the mempool.space, so you can look so cool and act like you know your stuff.

[Sim_card]

No matter how small the money is, I prefer more than one confirmation in order to have the guarantee that I'm on the safe side. Bitcoin remains the way it has been designed since the beginning on transaction confirmation and nothing will change that.

[Charles-Tim]

It depends on how much is your transaction value but with most of us and most of transactions, 1 confirmation is enough to consider that the deal was done.

It is not just about the amount, any amount sent have the same probability of being reversed if chain reorg occcur or if their is 51% attack. What they just mean there is about the amount that someone can afford to lose if something like that happened.

I accept 1 confirmation even if the amount is high. That is me, another person can have different opinion.

[GhostRider25]

besides 51 percent attacks,  orphaned blocks that take a few to fully resolve can cause issues too in a fast moving market.  This ensures the trade is locked in, was meant to be and won't switch out because another chain caught up or overtook you with some other ideas.

if you are selling a product to someone and see 1 transaction, you are fully able to say, yep, good enough for me it's yours.  lets say i sold you a 400 oz gold bar worth a million dollars or two.  You might want to wait a few transactions to make sure it's settled hard.  for that kind of money, yah ill wait the 15 minutes to be 'safe'.  people are so impatient, and that i want it now, hurry dammit !!! mentality is what gets them ripped off time and time again

aaron

[Patikno]

After several years have past is it still the same that 1 confirmation on Bitcoin transaction isn't enough?
Assuming someone paid me in Bitcoin for something and all I get is 1 confirmation is it enough to start moving on and say yes I have received, you can go.

Also is it still possible that. 1 confirmation transaction can still be reversed?
I have read this online that it was a big problem at one time, but I can't tell if this is still a thing today because fewer upgrades have been applied to Bitcoin network in this past years.

From several references I have read, one confirmation is actually enough to ensure a transaction is validly entered into the chain and is irreversible. Meanwhile, unconfirmed transactions (or zero confirmations) are still considered unsafe and can still be canceled or replaced with new transactions. This is usually done to speed up slow transactions by adding higher fees (transaction/network fees) than before. Honestly, I don't fully understand how the Bitcoin blockchain system works, so I could be wrong in some of my statements. Cmiiw.

The references : -bitcointalk.org by @Coding Enthusiast - All you need to know about Unconfirmed transactions and what to do about them.
                           -bitcoin.org
                           -bitcoin.it - Confirmation

Besides that, I think if the transaction you are making is with someone you can trust, then there is no problem with it, but if you are making a transaction with someone else, you need to ensure the transaction is confirmed by the network. By the way, you can also use the Lightning Network for transactions, which can make it easier to speed up the transaction process without having to wait for confirmation in the next few minutes (which means instant).

[nakamura12]

Some may want more than one confirmation but some wallet apps only needs one confirmation and it will show on your account balance and can make transactions whenever you want but for other platforms or apps like an exchange is it requires 1-3 confirmations before it shows in your account balance. For me, one confirmation is enough because I have tried it myself where I only waited 1 confirmation before It shows in my wallet.

[Yamane_Keto]

The best explanation is that it depends on the attacker's hashing power. If the attacker has low hashing power, 6 confirmations are enough to reduce the risk of transaction reversal to less than 0.001.

If the attacker has higher hashing power, reducing the risk of transaction reversal to less than 0.001 requires more confirmations. For example, with 20% hashing power, you need ~ 11 confirmations, and with 40% hashing power, you need ~ 89 confirmations.

In short, it's a probability versus the time you need to wait.

Therefore, the longest sufficient time is when the attacker controls approximately 49% of the network (and intends to execute the attack). In that case, you will need to wait for more than 6 confirmations.

[BIT-BENDER]

It is ideal that at least more than 1 confirmation occurs on a transaction, just to be hundred percent sure that there's no an chance of losing out, when we have a number of miners there and the transaction needed to be more sure of total compliance to the protocols and having more than one is just a display on the network integrity and accuracy ensuring things are done perfectly and as expected, introducing new protocols against this may not be needed, because there's always a need to very and be sure the only means was not altered.

Let's say there is a possibility for one confirmation is enough to clear the transaction there is still every chance that you would ask that is it possible for a transaction be made without any confirmation.
Having more than one confirmation has its unique benefits and I don't this it's a big enough issue for you to see it as a problem.
Just wait for that confirmation after the first one .

[hosemary]

besides 51 percent attacks,  orphaned blocks that take a few to fully resolve can cause issues too in a fast moving market.  This ensures the trade is locked in, was meant to be and won't switch out because another chain caught up or overtook you with some other ideas.

What you are talking about is called "stale" block, not orphan block.
Orphan blocks don't have a known parent and that's why they are rejected. If a block is rejected because it no longer belongs to the chain with the most work, it's called stale block.

[Zaguru12]

Some may want more than one confirmation but some wallet apps only needs one confirmation and it will show on your account balance and can make transactions whenever you want but for other platforms or apps like an exchange is it requires 1-3 confirmations before it shows in your account balance. For me, one confirmation is enough because I have tried it myself where I only waited 1 confirmation before It shows in my wallet.

Even on exchanges like binance, one confirmation will actually make your transaction to be visible in your exchange account in fact you could even use it for trading with other pairs but you cannot simply withdraw it out or send to another exchange account until the minimum of two or three confirmation is complete. I have actually experienced this before.

One confirmation is actually good but not enough because of chain org and other things like that.

Let's say there is a possibility for one confirmation is enough to clear the transaction there is still every chance that you would ask that is it possible for a transaction be made without any confirmation.
Having more than one confirmation has its unique benefits and I don't this it's a big enough issue for you to see it as a problem.
Just wait for that confirmation after the first one .

People are naturally impatient about everything that’s why you see even scammers still have their way today. I usually tell people that if you’re such in a haste then use other payment method if you cannot wait for bitcoin number of confirmations required

[GhostRider25]

generally older money is safer money, if it's been in my wallet for a week and i use it to pay you with, it's not going to really be in any sort of flux. one confirmation should be fine, unless im sitting in the weeds with a farm on hot idle waiting to 51 you (pretty impossible with btc)   the only real issue you might see a problem is if the market is going crazy you / someone else is doing a butt ton of trades, and the money they are using to pay you for that current transaction, just came into them from like the previous block or two.  yah then it could potentially be manipulated a bit, but if the money's been in that wallet for a week, one would have to unwind all those blocks to the day it got in there to change it and to manip that 'source'.  very unlikely.

Aaron

[SilverCryptoBullet]

It is not just about the amount, any amount sent have the same probability of being reversed if chain reorg occcur or if their is 51% attack. What they just mean there is about the amount that someone can afford to lose if something like that happened.

I accept 1 confirmation even if the amount is high. That is me, another person can have different opinion.

With very low probability of 51% attacks to happen successfully, with most Bitcoin users and with most transactions, 1 confirmation is enough in practice.

With bigger fund, the number of confirmations needed can be higher a little bit like 2, 3 or 6 confirmations. While centralized exchanges mostly require 2 to 3 confirmations even with big fund deposits from users, as normal Bitcoin user, I don't think there is need of more than 3 confirmations with my practice.

[dansus021]

There is a good article that discussed about bitcoin confirmation - Link

Confirmations: How Bitcoin Measures Finality
When your transaction gets added to a block, it receives 1 confirmation. Each block mined after that adds another confirmation.

While a transaction is technically valid after 1 confirmation, most users and businesses wait for 6 confirmations to consider it truly final. Why? Because then the transaction can be seen as immutable. If you change the transaction all the 6 blocks would become invalid. Since the Bitcoin network always takes the longest chain, you would need to mine the 6 blocks on your own and be faster than the whole rest of the world - impossible.

Reorganisations and Double Spend Risk
A reorganization (reorg) happens when the Bitcoin network temporarily disagrees on the most recent block and resolves it by switching to a longer valid chain. In rare cases, this can cause a block and its transactions to be removed and re-mined.

If someone tries to double spend during this short window, and the longer chain includes the second transaction instead of the first, the first is invalidated.

👉 But here’s the thing: the deeper your transaction is buried under additional blocks (i.e. confirmations), the lower the chance of it ever being reversed.

A 6-block deep transaction is nearly irreversible.


But hey in my opinion 1 confirmation is enouch since bitcoin itself need atleast 10 minutes to found a block and The main Bitcoin (BTC) chain has never suffered a successful 51% attack in its history.

[KiaKia]

There are few centralised exchanges that will make your bitcoin transaction available for trading after one confirmation, you will be able to trade and do other things except withdrawal.

This makes me believe that one confirmation is not enough, if centralised exchanges can say no you can't withdraw unless more confirmations have been successful then it's better to not release anything to anyone after one confirmation.

Especially if you are transacting in a bigger amount, this is danger, you will need to tell the person to have patience, make sure you have 3 or more confirmations before you let them go.

[hosemary]

But hey in my opinion 1 confirmation is enouch since bitcoin itself need atleast 10 minutes to found a block

Incorrect. It's not that it always takes at least 10 minutes to find a block.
A new bitcoin block is found approximately every 10 minutes on average. A new block may be found in a few seconds and it's also possible that it takes more than an hour for miners to find a new block.