How BTC Push service works? 1 confirmation or more?

audaciousbeing

hero member

Activity: 1330

Merit: 569

Quote from: johnnybtct on December 22, 2017, 05:00:06 PM

https://pushtx.btc.com

How exactly this work mean client buy push for one confirmation only?
Mean if exchange require 3, what then?
Once it will be paid and confirmed others start confirm quicker?
Am I thinking good? I mean not need to buy X times.

The moment your transaction has 1 confirmation, you are sure that it cannot be reversed or double spend in the case of receiving payment for some goods you have sold. And subsequent confirmations can just flow in without you even knowing when its happening but the moment you paid the required fee or even higher than the minimum, I don't think there is anything else that you can do again than to just wait and eventually everything will be completed in due time. The only thing there is losing out when you need it urgently just like wanting to buy a coin, bet on a game just like you have said.

timerland

hero member

Activity: 1526

Merit: 596

Quote from: johnnybtct on December 22, 2017, 05:00:06 PM

https://pushtx.btc.com

How exactly this work mean client buy push for one confirmation only?
Mean if exchange require 3, what then?
Once it will be paid and confirmed others start confirm quicker?
Am I thinking good? I mean not need to buy X times.

Transcatino accelerators like that one is only useful if you have paid less fee than the recommended amount for your transaction. If you've already paid a decent amount of fee then waiting a few hours would result in a confirmation anyways.

These services are basically mining pools that will selectively inclued your transaction in the blocks that they mine.

However, keep in mind that they are incredibly expensive to use and your first option is to always send the transaction with a high fee. So it's sort of only supposed to be used in emergency scenarios. There are also free ones like antpool.

johnnybtct

newbie

Activity: 31

Merit: 0

Quote from: achow101 on December 22, 2017, 06:04:25 PM

One confirmation means that your transaction has been included in a block. All subsequent confirmations happen with more blocks are found on top of the block your transaction was included in. Once you have one confirmation, more confirmations will come as blocks are mined; there is nothing that you need to do.

You only need to pay a transaction fee (or fee for that service) once in order to get the first confirmation.

Thank you a lot, all clear now, need to research more technicals as it's a key to understand many things.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

One confirmation means that your transaction has been included in a block. All subsequent confirmations happen with more blocks are found on top of the block your transaction was included in. Once you have one confirmation, more confirmations will come as blocks are mined; there is nothing that you need to do.

You only need to pay a transaction fee (or fee for that service) once in order to get the first confirmation.

johnnybtct

newbie

Activity: 31

Merit: 0

https://pushtx.btc.com

How exactly this work mean client buy push for one confirmation only?
Mean if exchange require 3, what then?
Once it will be paid and confirmed others start confirm quicker?
Am I thinking good? I mean not need to buy X times.

Topic: How BTC Push service works? 1 confirmation or more? (Read 155 times)