I love the innocence of this post.
Confirmations are like how many blocks have been added on top of the block that your transaction was included in. The more confirmations your tx has, the more secure it is from a potential 51% attack that would reorganize the blockchain and potentially "erase" your transaction.
Topic: Bitcoin Confirmations... Why they keep coming? (Read 261 times)
Thank you everyone for the prompt and informative reply.
Now it's very much clear.
Now it's very much clear.
Even with 1 confirmation we can confirm that the transaction is almost irreversible but platforms have their own criteria like 2 or 3 in casinos and exchanges and 6 too on some platforms.
It's simple. Some want more security than others. I'm fine at accepting a < 1 BTC worth transaction with just 1 confirmation. For more than that, I find the other party slightly more incentivized to bribe a miner to reverse it, so I'll request 2 confirmations. I'm basically going to increase that as long as the incentive is. If you're moving a million dollars worth of bitcoin, you don't want to even think your money gets reorged, even by mistake. Talking about moving millions worth of BTC still 6 is enough because that is what exchange's accept cause the cost of reversing will be higher than the amount we are moving correct me if I am wrong.
In theory, the system will check the new transaction's validity and will find that the inputs are not validated.
Wrong choice of words. The inputs will be perfectly valid. If they weren't valid inputs then they couldn't be spent at all, and they might not even have been allowed to be created in the first. Most wallets will reject a transaction if you try to send coins to an invalid address, for example, but it is also entirely possible to send bitcoin to invalid locking scripts which can never be unlocked, meaning they can never be spent.The node will verify the child transaction, and although it finds that the child transaction is spending unconfirmed inputs, those inputs will be perfectly valid. If they are not valid inputs, then the child transaction will be rejected.
Even with 1 confirmation we can confirm that the transaction is almost irreversible but platforms have their own criteria like 2 or 3 in casinos and exchanges and 6 too on some platforms.
It's simple. Some want more security than others. I'm fine at accepting a < 1 BTC worth transaction with just 1 confirmation. For more than that, I find the other party slightly more incentivized to bribe a miner to reverse it, so I'll request 2 confirmations. I'm basically going to increase that as long as the incentive is. If you're moving a million dollars worth of bitcoin, you don't want to even think your money gets reorged, even by mistake. 
Even with 1 confirmation we can confirm that the transaction is almost irreversible but platforms have their own criteria like 2 or 3 in casinos and exchanges and 6 too on some platforms.
~snip~
~snip~
I have come across various "experts" who ask for at least 3 confirmations even for the smallest amounts, but there are also those who have heard that 6 confirmations are necessary for the transaction to be "successful". One thing is for sure, there are a lot of confused people out there, and if you try to explain to them the difference between 1 or 6 confirmations, some will be even more confused.
legendary
Activity: 2156
Merit: 2100
Marketing Campaign Manager |Telegram ID- @LT_Mouse
The concept of CFNP (Child Pays For Parent) is that one can make a new transaction with outputs of the parent transaction as the input even though the parent transaction is yet to be confirmed, right?
I understand that the coins cannot be spent until the parent transaction has been confirmed, with that being the exact reason to use it. But for clarity, wouldn't the transaction have to be validated by nodes to be available for confirmation, or the node who saw the transaction has to be a miner who would confirm the parent transaction to validate the child?
I am just trying to seek a bit of perspicuity on the concept.
- Jay -
In CFNP, when you pay a higher amount of fee in the later transaction, both transactions will be validated and added to the next block. In theory, the system will check the new transaction's validity and will find that the inputs are not validated. If the previous transaction is valid, both will get validated in a single block. It's the normal thinking to make someone undertsnad lol.I understand that the coins cannot be spent until the parent transaction has been confirmed, with that being the exact reason to use it. But for clarity, wouldn't the transaction have to be validated by nodes to be available for confirmation, or the node who saw the transaction has to be a miner who would confirm the parent transaction to validate the child?
I am just trying to seek a bit of perspicuity on the concept.
- Jay -
which are confirmed by nodes if I am not wrong.
A = Current block where your tx is added (your tx got 1 confirmation)B = Next block (your tx got 2 confirmation)
C = Next block (your tx got 3 confirmation)
With each block added, your confirmation will get 1 more confirmation.
Hi
There are 6 bitcoin confirmations required to make a bitcoin transaction 100% confirmed.
But if see Bitcoin transaction on https://www.blockchain.com/explorer there are confirmations that keep coming even after the first 6 one. Can someone tell why they keep coming despite the fact the transaction is already 100% confirmed.
regards
Even with 1 confirmation we can confirm that the transaction is almost irreversible but platforms have their own criteria like 2 or 3 in casinos and exchanges and 6 too on some platforms. But the blocks gets older the confirmation keeps increasing which means older the transaction the number of confirmations are higher which are confirmed by nodes if I am not wrong. There are 6 bitcoin confirmations required to make a bitcoin transaction 100% confirmed.
But if see Bitcoin transaction on https://www.blockchain.com/explorer there are confirmations that keep coming even after the first 6 one. Can someone tell why they keep coming despite the fact the transaction is already 100% confirmed.
regards
I spend some unconfirmed coins in a new transaction with a higher fee, and then (hopefully) a miner will include both the parent and child transaction in the same block in order to cash in on the high fee paid by the child transaction.
Spending is the inclusion of an input in a signed transaction, so you are right, that it can be spent before the parent transaction is confirmed. I was using it in a general term to be the actual transfer of bitcoin from address A to B....
If you try to make a transaction spending more coins than you have, that transaction will simply be rejected. This is a different concept to spending coins which you do have, but are not yet confirmed.
That puts everything into perspective. I took your reply from my understanding of the reply you quoted, but everything is clear now.If you try to make a transaction spending more coins than you have, that transaction will simply be rejected. This is a different concept to spending coins which you do have, but are not yet confirmed.
- Jay -
The concept of CFNP (Child Pays For Parent) is that one can make a new transaction with outputs of the parent transaction as the input even though the parent transaction is yet to be confirmed, right?
That's correct.I understand that the coins cannot be spent until the parent transaction has been confirmed
The coins can be spent before the parent transaction is confirmed. That's the entire basis behind CPFP. I spend some unconfirmed coins in a new transaction with a higher fee, and then (hopefully) a miner will include both the parent and child transaction in the same block in order to cash in on the high fee paid by the child transaction.But for clarity, wouldn't the transaction have to be validated by nodes to be available for confirmation
That's also correct. Spending unconfirmed UTXOs is entirely valid and nodes will verify and broadcast such a transaction without issue.The sentence from me which you quoted was simply referring to people trying to make transactions with less than the "minimum amount required", as asawale put it. If you try to make a transaction spending more coins than you have, that transaction will simply be rejected. This is a different concept to spending coins which you do have, but are not yet confirmed.
If you attempt to make a transaction which spends coins you do not have, it will be rejected as invalid by any node you broadcast it to, if your wallet software lets you sign the transaction at all.
The concept of CFNP (Child Pays For Parent) is that one can make a new transaction with outputs of the parent transaction as the input even though the parent transaction is yet to be confirmed, right? I understand that the coins cannot be spent until the parent transaction has been confirmed, with that being the exact reason to use it. But for clarity, wouldn't the transaction have to be validated by nodes to be available for confirmation, or the node who saw the transaction has to be a miner who would confirm the parent transaction to validate the child?
I am just trying to seek a bit of perspicuity on the concept.
- Jay -
Based on on my experienced when receiving payment from signature campaign service trough Bitcoin only acquire one confirmation and fund success credit to Binance exchange account, but one confirmation enough for trading or convert bitcoin to other altcoin or fiat but not ability withdrawing assets from Bitcoin selling to other wallet because required about two or three confirmation later.
Binance is an exchange and centralized, they can require any number of confirmation that they want. The question asked can not go beyond how bitcoin technically works, not about Binance that has nothing to do with bitcoin network.Low or fast confirmation based on high traffic or fees sending from your wallet sender and busy traffic will delay with your confirmation transaction more than two or three hours later.
This is also off-topic. Read the OP question again and check nc50lc post which answered it. If your transaction is confirmed, it is included into a block mined by a miner, that is one confirmation. If the next block is mined, it becomes two confirmed and so on. That is what this thread is all about. 
There are 6 bitcoin confirmations required to make a bitcoin transaction 100% confirmed.
1 confirmation is already enough these days. Gambling platform as example usually credit balance even if the transaction is still unconfirmed in the blockchain then allow user to withdraw when the balance received 1 confirmation. Exchange do the same by allowing you to trade for only 1 confirmation then 2 confirmation to withdraw or trade via P2P.
3 confirmation above is very safe but it will take some time to occur that’s why it’s rarely use as basis to determine the safety of the transaction.
Based on on my experienced when receiving payment from signature campaign service trough Bitcoin only acquire one confirmation and fund success credit to Binance exchange account, but one confirmation enough for trading or convert bitcoin to other altcoin or fiat but not ability withdrawing assets from Bitcoin selling to other wallet because required about two or three confirmation later.
Low or fast confirmation based on high traffic or fees sending from your wallet sender and busy traffic will delay with your confirmation transaction more than two or three hours later.
Low or fast confirmation based on high traffic or fees sending from your wallet sender and busy traffic will delay with your confirmation transaction more than two or three hours later.
I believe the confirmations keeps coming to complete the standard required even after it seems completed.
No. As has been explained above, the confirmations keep coming because each new block which is mined and added to the blockchain adds one more confirmation to all previously mined transactions.And the funds get released once it has been confirmed that the sender of the fund has the minimum amount required to execute and transfer a certain amount to the receiver.
You are confusing blocks being mined with some centralized exchange or centralized platform allowing users to withdraw coins from their account. If you attempt to make a transaction which spends coins you do not have, it will be rejected as invalid by any node you broadcast it to, if your wallet software lets you sign the transaction at all. The 6 confirmations thingy (on some platforms 2 or 3 is enough) is just an industry standard on where you could say with very high certainty that the transaction has enough confirmations. But the more confirmations, the better.
I believe the confirmations keeps coming to complete the standard required even after it seems completed. And the funds get released once it has been confirmed that the sender of the fund has the minimum amount required to execute and transfer a certain amount to the receiver.
Good question, I don't need to answer anymore because you have gotten the right answer from others already but have you noticed confirmation requirements when trying to send BTC to an exchange?
When you send Bitcoin to some exchanges, the exchange will inform you that you will be credited after 6 confirmations on the block or 2 or even 1, depending on what the exchange requires, to me this adds layers of safety protection for exchanges but it doesn't matter when sending Bitcoin to a friend, 1 confirmation is all you need for the other wallet to receive Bitcoin.
When you send Bitcoin to some exchanges, the exchange will inform you that you will be credited after 6 confirmations on the block or 2 or even 1, depending on what the exchange requires, to me this adds layers of safety protection for exchanges but it doesn't matter when sending Bitcoin to a friend, 1 confirmation is all you need for the other wallet to receive Bitcoin.
A confirmation happens whenever a new block is mined that comes after the block that has your transaction.
So the block that has your tx would be the first confirmation, and the block that is mined after that would be the second confirmation, etc.
Think of "confirmations" as how many blocks are mined since you broadcasted the transaction. Obviously, the Bitcoin network needs to keep mining blocks in order to function properly.
So the block that has your tx would be the first confirmation, and the block that is mined after that would be the second confirmation, etc.
Think of "confirmations" as how many blocks are mined since you broadcasted the transaction. Obviously, the Bitcoin network needs to keep mining blocks in order to function properly.
There are 6 bitcoin confirmations required to make a bitcoin transaction 100% confirmed.
If there is only one confirmation already, it means the transaction has been confirmed, that means 100% confirmation already. But the reason people prefer more confirmation is because the more the confirmation, the more likely the transaction can not be reversed.But if see Bitcoin transaction on https://www.blockchain.com/explorer there are confirmations that keep coming even after the first 6 one. Can someone tell why they keep coming despite the fact the transaction is already 100% confirmed.
Yes, the more secure the transactions. 
It just means that it's that "deep" in the blockchain;
in other words, it's included in the older blocks and there are +N number of blocks on top of where it's included.
For example, if your transaction in confirmed in block height 778,640 and then the next block is mined, it'll be 2 confirmations.
Blocks are getting mined round-the-clock so confirmations wont stop at 6.
in other words, it's included in the older blocks and there are +N number of blocks on top of where it's included.
For example, if your transaction in confirmed in block height 778,640 and then the next block is mined, it'll be 2 confirmations.
Blocks are getting mined round-the-clock so confirmations wont stop at 6.
The 6 confirmations thingy (on some platforms 2 or 3 is enough) is just an industry standard on where you could say with very high certainty that the transaction has enough confirmations. But the more confirmations, the better.
Hi
There are 6 bitcoin confirmations required to make a bitcoin transaction 100% confirmed.
But if see Bitcoin transaction on https://www.blockchain.com/explorer there are confirmations that keep coming even after the first 6 one. Can someone tell why they keep coming despite the fact the transaction is already 100% confirmed.
regards
There are 6 bitcoin confirmations required to make a bitcoin transaction 100% confirmed.
But if see Bitcoin transaction on https://www.blockchain.com/explorer there are confirmations that keep coming even after the first 6 one. Can someone tell why they keep coming despite the fact the transaction is already 100% confirmed.
regards
Jump to: