A nice thread on Confirmations from today as well:
https://bitcointalksearch.org/topic/what-is-a-confirmation-1994
Topic: Confirming Payment ... 1 block, 2 blocks, 6 blocks? (Read 1648 times)
MyBitcoin probably considers a transaction confirmed after 1 block. The more confirmations, the more difficult it is for the sender to reverse a transaction. 6 is almost impossible (and never profitable), but 1 is still extremely difficult. Even 0 is quite difficult. The last few pages of the Bitcoin paper have probability calculations for this.
Maybe MyBitcoin requires more confirmations when you deposit larger amounts of BTC.
Maybe MyBitcoin requires more confirmations when you deposit larger amounts of BTC.
I sent a 1 BTC payment to MyBitcoin. At about 10 minutes later I got the Payment Notification email acknowledging the transfer. But my own client still showed unconfirmed.
When I logged into MyBitcoin ..., my Balance showed the 1.0 BTC.
Is the number of blocks needed before "confirming" a transaction something that is subjective? I.e., why does the Bitcoin client wait until a different number .. (6 confirmations, I think ... ) to change to Confirmed, than what MyBitcoin uses?
When I logged into MyBitcoin ..., my Balance showed the 1.0 BTC.
Is the number of blocks needed before "confirming" a transaction something that is subjective? I.e., why does the Bitcoin client wait until a different number .. (6 confirmations, I think ... ) to change to Confirmed, than what MyBitcoin uses?
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