42 Confirmations | Bitcointalksearch.org

Clairvoyance

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Perceiving events in the future and beyond

Quote from: pooya87 on November 13, 2021, 11:24:47 PM

Quote from: Clairvoyance on November 13, 2021, 08:50:29 AM

What I'm trying to say is the block is updated every 10 minutes

You mean blockchain, it is also extended rather than being updated. It is also not every 10 minutes, it is 10 minutes on average.

Quote

which in most cases 6 confirmation is needed for the transaction to be considered valid.

Validity of a transaction is checked when it is received in the mempool (before it is even confirmed) of it is is the first time and it is received in a new block the validity is checked then.
6 confirmation is a variable number that is used to determine how difficult it would be to reverse the said transaction. 1 confirmation for bitcoin is more than enough for most cases under almost every circumstances.

P.S. 1 confirmation is inclusion in a block and reversibility, more than 1 is showing the depth of the block containing that transaction and the cost of 51% attack to reverse it. This number will never stop to grow.

Thank you for clarification.

pooya87

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Quote from: Clairvoyance on November 13, 2021, 08:50:29 AM

What I'm trying to say is the block is updated every 10 minutes

You mean blockchain, it is also extended rather than being updated. It is also not every 10 minutes, it is 10 minutes on average.

Quote

which in most cases 6 confirmation is needed for the transaction to be considered valid.

Validity of a transaction is checked when it is received in the mempool (before it is even confirmed) of it is is the first time and it is received in a new block the validity is checked then.
6 confirmation is a variable number that is used to determine how difficult it would be to reverse the said transaction. 1 confirmation for bitcoin is more than enough for most cases under almost every circumstances.

P.S. 1 confirmation is inclusion in a block and reversibility, more than 1 is showing the depth of the block containing that transaction and the cost of 51% attack to reverse it. This number will never stop to grow.

Clairvoyance

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Perceiving events in the future and beyond

Quote from: Lucius on November 13, 2021, 08:37:06 AM

Quote from: Clairvoyance on November 12, 2021, 09:32:33 AM

1. Confirmation will continue to rise until it has sufficient block (3-6 times until it is finalized) and it also indicates when the transaction is broadcasted.

I don't understand exactly what you mean by this statement, but the number of confirmations is constantly increasing, what does the number of blocks have to do with it? In order for a transaction to be considered valid, only one confirmation is sufficient in most cases, although there are various payment processors and services that require up to 6 confirmations. The transaction in question here has over 400 confirmations

Everything else in your post is just a repetition of what other members have already written.

Pardon my phrasing (regarding the block confirmation). What I'm trying to say is the block is updated every 10 minutes which in most cases 6 confirmation is needed for the transaction to be considered valid. If my further emphasis on verifying electrum by using ThomasV signature e.g. and double checking the sending address is just a repetition of what others have said then reminding it again isn't gonna hurt. Since these are the steps which are usually neglected which causes error in transactions.

Lucius

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Quote from: Clairvoyance on November 12, 2021, 09:32:33 AM

1. Confirmation will continue to rise until it has sufficient block (3-6 times until it is finalized) and it also indicates when the transaction is broadcasted.

I don't understand exactly what you mean by this statement, but the number of confirmations is constantly increasing, what does the number of blocks have to do with it? In order for a transaction to be considered valid, only one confirmation is sufficient in most cases, although there are various payment processors and services that require up to 6 confirmations. The transaction in question here has over 400 confirmations

Everything else in your post is just a repetition of what other members have already written.

Clairvoyance

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Perceiving events in the future and beyond

Quote from: NicksNotNaked on November 10, 2021, 08:56:53 PM

First time using Electrum and the payment is at 42 confirmations. I did not lower the fee, I left it where it was suggested. Is the payment lost? I had previously only sent from Coinbase and never had this issue. I would imagine I made a mistake somewhere. Just not sure what to do. I assume it cannot be cancelled? Freaking noob I am. TIA

I don't get what are you worried about. If you're unsure if the wallet where you've sent your BTC is not the proper address then you really need to be worried. Your topic is about confirmation and yet you are wondering about what mistake before transacting.

1. Confirmation will continue to rise until it has sufficient block (3-6 times until it is finalized) and it also indicates when the transaction is broadcasted.
2. Once the transaction is sent to the blockchain it is irreversible.
3. The wallet where you've sent the BTC still to have the balance of 0.00595101BTC (which is safe to assume that it is not being funneled to another account).
4. Verify and update the version of Electrum wallet before processing any transaction.
5. Always double check the addresses before transacting to avoid problems.
6. Routinely scan for Malwares before sending any transaction is a good practice.

NeuroticFish

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Quote from: NicksNotNaked on November 10, 2021, 09:47:22 PM

As I said before I never had this issue with Coinbase. I probably fucked something up, not gonna lie.

If you have indeed sent to the correct address (and double checked even now), then you've done your part correctly.
If the recipient address is at Coinbase, maybe you can also ask their support what's going on.

Lucius

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Quote from: NicksNotNaked on November 10, 2021, 09:08:52 PM

The payment has still not been received and the number of confirmations continues to rise.

There aren’t a lot of options to consider, the thing is pretty simple.

the recipient has received the transaction and is now trying to convince you otherwise - a classic scam that works if you don't know how the blockchain works.
the transaction was confirmed, but the recipient did not receive the BTC because you or he/she has clipboard malware on the computer that replaced the payment address.
the recipient has trouble syncing their crypto wallet and does not see the transaction.

Either way, one good sign is that the coins are still at the address they were sent to.

Coin_trader

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Quote from: NicksNotNaked on November 10, 2021, 09:47:22 PM

Quote from: Coin_trader on November 10, 2021, 09:41:35 PM

Quote from: NicksNotNaked on November 10, 2021, 09:08:52 PM

Quote from: TryNinja on November 10, 2021, 09:04:33 PM

Why would you want to cancel your transaction? Did you send it to the wrong address?

If it's confirmed, it's done and irreversible.

The payment has still not been received and the number of confirmations continues to rise.

It depends on where you send the payment, If it's on an electrum address too, The payment should be received almost instantly but for some payment service provider, You are force to wait for there dedicated time regardless of the number of confirmation. But 42 confirmation on Bitcoin means the transaction is more than a day old.

Can you atleast provide the TX and the main problem. The transaction should be successful by this time. But there are some error too if the receiver address is from a custodial wallet. Sometimes the balance didn't sync some instances. Maybe your friend experience that.

I sent the payment at around 1pm CST. And I am not sure what type of wallet they are using to be honest. As I said before I never had this issue with Coinbase. I probably fucked something up, not gonna lie.

Hash: c7e249b21dfc89412b21306334f2af396f28053d853245e231ccedd9781d14c5

You are not fucked up if you are sure that the wallet address that you used for the recipient is correct. However if your computer or phone is infected by malware that change automatically change the copy address to the scammer address then your transaction is fucked up as you said.

The only thing you need to do is check the address and inform the recipient. In case your device is infected with virus, Make sure to run deep scan on it using trusted anti virus like malwarebytes and WD. I hope that you use correct address since the amount that you sent is quite big amount. Wish you a good luck.

Charles-Tim

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First check the recipient address, make sure it is correct and match exactly the one sent you. Tell the recipient to make sure his internet connection is active and making sure the wallet synchronized with the blockchain. Also tell him to check the address sent you if correct with the one on his wallet.

nc50lc

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Self-proclaimed Genius

Quote from: NicksNotNaked on November 10, 2021, 09:47:22 PM

-snip-
Hash: c7e249b21dfc89412b21306334f2af396f28053d853245e231ccedd9781d14c5

As far as Electrum and Bitcoin are concerned, that transaction is now confirmed (fully sent),
and any issues regarding the recipient not receiving the fund is out of the anyone's control since the transaction is now deep in the blockchain where it cannot be reversed.
All you can do is to contact the recipient.

You may also need to double-check the receiving address [3MU1CGBjnfg3FTt156ZramF9mnVCmjqAdN] if it matched with the one sent to you by the recipient.
All of the characters, not just the first and last few.

NicksNotNaked

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Quote from: Coin_trader on November 10, 2021, 09:41:35 PM

Quote from: NicksNotNaked on November 10, 2021, 09:08:52 PM

Quote from: TryNinja on November 10, 2021, 09:04:33 PM

Why would you want to cancel your transaction? Did you send it to the wrong address?

If it's confirmed, it's done and irreversible.

The payment has still not been received and the number of confirmations continues to rise.

It depends on where you send the payment, If it's on an electrum address too, The payment should be received almost instantly but for some payment service provider, You are force to wait for there dedicated time regardless of the number of confirmation. But 42 confirmation on Bitcoin means the transaction is more than a day old.

Can you atleast provide the TX and the main problem. The transaction should be successful by this time. But there are some error too if the receiver address is from a custodial wallet. Sometimes the balance didn't sync some instances. Maybe your friend experience that.

I sent the payment at around 1pm CST. And I am not sure what type of wallet they are using to be honest. As I said before I never had this issue with Coinbase. I probably fucked something up, not gonna lie.

Hash: c7e249b21dfc89412b21306334f2af396f28053d853245e231ccedd9781d14c5

Coin_trader

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Leading Crypto Sports Betting & Casino Platform

Quote from: NicksNotNaked on November 10, 2021, 09:08:52 PM

Quote from: TryNinja on November 10, 2021, 09:04:33 PM

Why would you want to cancel your transaction? Did you send it to the wrong address?

If it's confirmed, it's done and irreversible.

The payment has still not been received and the number of confirmations continues to rise.

It depends on where you send the payment, If it's on an electrum address too, The payment should be received almost instantly but for some payment service provider, You are force to wait for there dedicated time regardless of the number of confirmation. But 42 confirmation on Bitcoin means the transaction is more than a day old.

Can you atleast provide the TX and the main problem. The transaction should be successful by this time. But there are some error too if the receiver address is from a custodial wallet. Sometimes the balance didn't sync some instances. Maybe your friend experience that.

TryNinja

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Quote from: NicksNotNaked on November 10, 2021, 09:08:52 PM

The payment has still not been received and the number of confirmations continues to rise.

Please provide more details.

1. You said you used Electrum, but please confirm if that's the case.
2. To whom did you send the transaction? Which address/person/wallet/exchange/website, etc...
3. The transaction hash (Right click the transaction -> View on block explorer).

NicksNotNaked

newbie

Activity: 3

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Quote from: TryNinja on November 10, 2021, 09:04:33 PM

Why would you want to cancel your transaction? Did you send it to the wrong address?

If it's confirmed, it's done and irreversible.

The payment has still not been received and the number of confirmations continues to rise.

TryNinja

legendary

Activity: 2758

Merit: 6830

Why would you want to cancel your transaction? Did you send it to the wrong address?

If it's confirmed, it's done and irreversible.

NicksNotNaked

newbie

Activity: 3

Merit: 0

First time using Electrum and the payment is at 42 confirmations. I did not lower the fee, I left it where it was suggested. Is the payment lost? I had previously only sent from Coinbase and never had this issue. I would imagine I made a mistake somewhere. Just not sure what to do. I assume it cannot be cancelled? Freaking noob I am. TIA

Topic: 42 Confirmations (Read 204 times)