Accepting Bitcoin without a confirmation - page 2.

Zaguru12

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Quote from: we-btc on January 17, 2024, 12:11:09 PM

Thank you for the response. Can you be more specific? With the double spend protection built in, what is the risk?

What do you mean with the double spending protection built in, there is different node settings and if he gets to broadcast it through a server or node that allows full RBF that will actual defeat your point of non RBF transaction, because the node will replace the transaction and include the new one with higher fee and if the mining node actually mines a block first with that transaction included that renders your own transaction invalid

we-btc

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Quote from: Zaguru12 on January 17, 2024, 12:08:02 PM

Still very much a risk

Thank you for the response. Can you be more specific? With the double spend protection built in, what is the risk?

Zaguru12

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Still very much a risk. Even if the transaction fee is worth much to get it into the next block the problem will be when is the next block going to get mined it could take time that could give the sender the time to double spend the transaction with node that has full RBF settings with a much higher fee. Also the fee rate is unpredictable it could make your transaction not get into the next block and could even get dropped later because it is likely. It’s also risky to actually accept a transaction with just one confirmation talkless of no confirmation at all because of the issue of Chain Reorg

we-btc

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Personal financial freedom and sovereignty

I am not a Bitcoin developer so please excuse my ignorance.

If a merchant accepted Bitcoin without waiting for a confirmation but instead insisted on a transaction without RBF and a fee that was in the current acceptable fee range could this speed up the payment process?

Are there any reasons why this would not work?

Topic: Accepting Bitcoin without a confirmation - page 2. (Read 244 times)