Topic: How many confirmations to be sure about a transaction? - page 3. (Read 3620 times)
It will be 6 confirmations to be 100% sure.
i believe that 2 confirmations might be enough for counting the deposit as it would be really hard to fake something with 2 confirms
Hello,
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
1 confirmation is usually enough,however if you are dealing with very large numbers id be on the safe side and wait for atleast 3 confirmations. how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
Hello,
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
Many exchanges use 6 confirmations to be sure that it is not a duplicate transaction. However there are other services that only use 3 and other only use 1 confirmation. But to be sure I guess you'll need 6
Even 1 conformation also accepted in some services. It's solely dependent on how much risk you're ready to take. I believe waiting for 3 confirmation are moderate policy for both the parties.
When i buy games or stuff online, it typically go through instantly, but if you end up scamming them, you're the one in trouble since they have your personal information. I understand for anonymous services, waiting for confirmation is an absolute must, however.
Hello,
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
Many exchanges use 6 confirmations to be sure that it is not a duplicate transaction. However there are other services that only use 3 and other only use 1 confirmation. But to be sure I guess you'll need 6
Even 1 conformation also accepted in some services. It's solely dependent on how much risk you're ready to take. I believe waiting for 3 confirmation are moderate policy for both the parties.
Hello,
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
Many exchanges use 6 confirmations to be sure that it is not a duplicate transaction. However there are other services that only use 3 and other only use 1 confirmation. But to be sure I guess you'll need 6
I use localbitcoins.com and they require at least 3 confirmations.
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved (reversed)?
Most have been said above. I want to add that 1-2 confirmations is enough under normal network conditions. A few weeks ago, didn't we have a SPV mining issue where a few pools kept mining down the invalid fork? I remember users were advised to raise the bar to 12 confirmations. I would suggest "6" to a newbie just in case.
i think it is enough to get only one transaction as most gambling websites accept deposits with only one confirmation
Actually, most don't. Most gambling sites allow you to start betting with your deposit with 1 confirmation, you can't withdraw your winnings until your deposit has 6 or more confirmations.
As far as I know you don't need even this one confirmation! I bet on sports using NitrogenSports and Directbet and they allow you to place bets with unconfirmed transactions.
It's not like you will run away until your bet (games) don't finish.
i think it is enough to get only one transaction as most gambling websites accept deposits with only one confirmation
Actually, most don't. Most gambling sites allow you to start betting with your deposit with 1 confirmation, you can't withdraw your winnings until your deposit has 6 or more confirmations.
i think it is enough to get only one transaction as most gambling websites accept deposits with only one confirmation
Usually you can trust it with just 1 confirmation. However if you are dealing with people who are acquaintance, counter-partner or dealers, I suggest 8-10 confirmations
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved (reversed)?
Most have been said above. I want to add that 1-2 confirmations is enough under normal network conditions. A few weeks ago, didn't we have a SPV mining issue where a few pools kept mining down the invalid fork? I remember users were advised to raise the bar to 12 confirmations. I would suggest "6" to a newbie just in case.
Hello,
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
3 confirmations is the most common figure that all the escrows of the forum tends to choose.how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
double spending is not possible after that...
there are other forms of attack that can succeed after 3 confirmations and up to evne 5 confirmations, check the weakness of bitcoin
i would wait few conf for small transactions and all the confirmation needed for big transaction
Hello,
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
I think one transaction should be enough. Mostly bitcoin payment use one transaction to confirm it.how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
But to make sure, six transaction is much better.
Hello,
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
3 confirmations is the most common figure that all the escrows of the forum tends to choose.how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
double spending is not possible after that...
Hello,
how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
3 confirmations is the most common figure that all the escrows of the forum tends to choose.how many confirmations should a Bitcoin transaction have in order to be sure that the transaction could not be resolved?
double spending is not possible after that...
Hi i would say...
1 confirmation for low risk or low btc amount eg coffee
6 confirmation for high risk high btc amount eg trading on btc exchanges
Stay safe!
cheers :-)
LondonTrader
1 confirmation for low risk or low btc amount eg coffee
6 confirmation for high risk high btc amount eg trading on btc exchanges
Stay safe!
cheers :-)
LondonTrader
One confirmation is enough for daily transaction and the risk is very low. After six confirmations, the only viable method to reverse a transaction is to execute a 51% attack. You don't need 51% of the network to execute it successfully but with it, you are almost certainly going to succeed. The more the confirmation, the harder it is to reverse. It is not possible to reverse blocks before the last checkpoint.
6 confirmations is super safe, and is also a completely arbitrary number that the core devs came up with several years ago. In reality, you only need 1 confirmation to be relatively safe and 3 for large transactions just to be sure. In most cases, you can accept unconfirmed transactions, although with those, you should check the fee and for any dust outputs just to make sure that it will get confirmed.
Might be good to point out that the wallet itself typically do not let you spend coins before 3 transactions. At least the one i used so far. So it would be a good ballpark as to what is safe.
But in truth, i never had any problem with 1 confirmation, which make it too late to submit another transaction afterwards with a higher fee to create a double spending attack.
I have to agree 6 is the go to if you're talking about a critical amount of money.
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