When you buy something using bitcoin, the system puts it in the pending transactions until it gets a minimum one confirmation.
The bitcoin network considers a transaction confirmed as soon as it takes atleast three confirmations.
Topic: How are purchases done so fast? - page 2. (Read 950 times)
It has been my experience that bitcoin transactions take anywhere from ten minutes to a few hours to confirm. How is it that when I buy something using bitcoin the system seems to accept my payment immediately? Is the system just seeing the unconfirmed transaction and calling it good or do these payment systems have some way of instantly confirming the transactions?
Jump to: