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How can you protect yourself from double spending?
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Topic: How can you protect yourself from double spending? (Read 1033 times)
IamAGentleman
(OP)
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How can you protect yourself from double spending?
January 01, 2015, 01:21:35 AM
#1
The title?
cloverme
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SpacePirate.io
Re: How can you protect yourself from double spending?
January 01, 2015, 01:36:59 AM
#2
What's the context of your concern? Are you worried about selling something to someone or running a bitcoin exchange? The system itself sorts out most of the double-spend risks, you can add some extra protection for yourself by waiting for a number of confirmations in the blockchain. You can read more about double spending on the wiki:
https://en.bitcoin.it/wiki/Double-spending
scientific
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Re: How can you protect yourself from double spending?
January 01, 2015, 06:52:25 PM
#3
Quote from: IamAGentleman on January 01, 2015, 01:21:35 AM
The title?
You can always wait for 1 confirmation. If you don't want to do that, the most practical way would be to to check the transaction from 2 other sources like blockchain.info and some other explorer site.
Check out this thread for more info
https://bitcointalk.org/index.php?topic=586791.0
Reynaldo
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Re: How can you protect yourself from double spending?
January 02, 2015, 07:00:42 AM
#4
Wait for 6 confirmations if you are really worried.
LOBSTER
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Re: How can you protect yourself from double spending?
January 02, 2015, 09:53:31 AM
#5
Quote from: Reynaldo on January 02, 2015, 07:00:42 AM
Wait for 6 confirmations if you are really worried.
One confirmation is enough at all by the way. After one confirmation, the other transaction can't be spent anymore (depends on the client).
Muhammed Zakir
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I prefer Zakir over Muhammed when mentioning me!
Re: How can you protect yourself from double spending?
January 02, 2015, 10:32:45 AM
#6
Quote from: scientific on January 01, 2015, 06:52:25 PM
Quote from: IamAGentleman on January 01, 2015, 01:21:35 AM
The title?
check the transaction from 2 other sources like blockchain.info and some other explorer site.
Blockchain.info is really buggy , sometimes the TX doesn't show any confirmation, sometimes unmined blocks get added, I suggest any other, Blocktrail.com or Blockr.io.
~~MZ~~
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LOBSTER
Hero Member
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Activity: 560
Merit: 500
Re: How can you protect yourself from double spending?
January 02, 2015, 10:47:47 AM
#7
Quote from: Muhammed Zakir on January 02, 2015, 10:32:45 AM
Quote from: scientific on January 01, 2015, 06:52:25 PM
Quote from: IamAGentleman on January 01, 2015, 01:21:35 AM
The title?
check the transaction from 2 other sources like blockchain.info and some other explorer site.
Blockchain.info is really buggy , sometimes the TX doesn't show any confirmation, sometimes unmined blocks get added, I suggest any other, Blocktrail.com or Blockr.io.
~~MZ~~
Actually Blockchain always work in my opinion and it's instantly. Maybe you have to reload the Blockexplorer to get the updated data. Blockchain works for me always fine
dmugetsu
Member
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Activity: 105
Merit: 10
Re: How can you protect yourself from double spending?
January 02, 2015, 04:42:18 PM
#8
Quote from: LOBSTER on January 02, 2015, 10:47:47 AM
Quote from: Muhammed Zakir on January 02, 2015, 10:32:45 AM
Quote from: scientific on January 01, 2015, 06:52:25 PM
Quote from: IamAGentleman on January 01, 2015, 01:21:35 AM
The title?
check the transaction from 2 other sources like blockchain.info and some other explorer site.
Blockchain.info is really buggy , sometimes the TX doesn't show any confirmation, sometimes unmined blocks get added, I suggest any other, Blocktrail.com or Blockr.io.
~~MZ~~
Actually Blockchain always work in my opinion and it's instantly. Maybe you have to reload the Blockexplorer to get the updated data. Blockchain works for me always fine
yes,i think blockchain works fine,maybe the cause of double spend is the internet connection,so the website seems buggy
RGBKey
Hero Member
Offline
Activity: 854
Merit: 658
rgbkey.github.io/pgp.txt
Re: How can you protect yourself from double spending?
January 03, 2015, 06:12:22 AM
#9
Wait on a number of confirmations based on how much you trust the person to not double spend. 1 confirmation is really enough though, any more and you run the risk of annoying people with long waiting times of an hour on average to wait on their funds.
thompete
Full Member
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Activity: 224
Merit: 100
Re: How can you protect yourself from double spending?
January 03, 2015, 04:48:08 PM
#10
Quote from: IamAGentleman on January 01, 2015, 01:21:35 AM
The title?
For trading/selling . Just wait for atleast 2 confirmations before sending the things . It is very hard and almost impossible for a double spend to reach even 2 confirmations.
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