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Author Topic: My transaction got approved in < 10 minutes  (Read 657 times)
Dice
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June 18, 2012, 10:09:35 PM
 #1

I always assumed that it takes a solid hour for transactions to move from point a to point b with 6 confirmations.

It only took 10 minutes today? And whats even more crazy is that there has been 7 blocks found in the space of 10 minutes?

Whats going on? or is blockchain.info lying?

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malaimult
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June 18, 2012, 10:16:28 PM
 #2

you got lucky  Grin

my fastest move was 20 min

Stephen Gornick
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June 18, 2012, 10:41:13 PM
 #3

Whats going on? or is blockchain.info lying?

ASIC testing?

Here's a second look.  yes, there were seven blocks in about a ten minute span recently.
 - http://blockexplorer.com/
InterCoin
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June 18, 2012, 10:48:21 PM
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Whats going on? or is blockchain.info lying?

ASIC testing?

Here's a second look.  yes, there were seven blocks in about a ten minute span recently.
 - http://blockexplorer.com/

How is that even possible???
DILLIGAF
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June 19, 2012, 12:59:06 AM
 #5

Whats going on? or is blockchain.info lying?

ASIC testing?

Here's a second look.  yes, there were seven blocks in about a ten minute span recently.
 - http://blockexplorer.com/

How is that even possible???

Random luck eventually you will see a period coming up where blocks will take half an hour or more to be found to even it out to the 6 per hour again.
ajze
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June 19, 2012, 03:27:28 AM
 #6

Whats going on? or is blockchain.info lying?

ASIC testing?

Here's a second look.  yes, there were seven blocks in about a ten minute span recently.
 - http://blockexplorer.com/

How is that even possible???

Random luck eventually you will see a period coming up where blocks will take half an hour or more to be found to even it out to the 6 per hour again.

It's actually possible that there will never be another block that takes more than 10 minutes.  It's just VERY unlikely Smiley

The protocol automatically adjusts the difficulty to keep the average time to 6 min. per block, but thanks to the laws of probability and constantly changing network computing power, it's common to see blocks last from seconds to hours.
Meni Rosenfeld
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June 19, 2012, 03:44:18 AM
 #7

Block finding times are random.

The probability that within an interval of 10 minutes at least 7 block will be found is about 1/12000. Which means that it's very likely this has happened many times before.

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