what is mean 1, 2 confirmation in bitcoin transaction.

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Quote from: alcoholboy on December 22, 2019, 12:22:52 PM

quote]
confirmation meaning you just now received your bitcoin.

Number of confirmations is the number of blocks that have been generated after the one including your transaction.
Number of confirmations can be seen as how safe the transaction is. The more confirmations there are, the harder for an attacker to tamper that transaction.
Ideally, 1 confirmation = 10 minutes but in reality it depends on the hashing power and the difficulty at the moment of generating the block.

Naazrul

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Quote from: Devid_warner on December 20, 2019, 01:03:14 PM

how confirmation count in a bitcoin transaction. its autometically done or are there any rules for it. I want to know about this.

it means you send bitcoins to others and after send and after passing some time your transaction will receive 1 confirmation and others received your bitcoin.

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Quote from: Devid_warner on December 20, 2019, 01:03:14 PM

how confirmation count in a bitcoin transaction. its autometically done or are there any rules for it. I want to know about this.

confirmation meaning you just now received your bitcoin.

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Quote from: cavinn09 on December 21, 2019, 09:56:14 AM

1 confirmation mean your transaction is confirmed by miners and your block is set in blockchain and 1 confirmation mean you received the payment.

More correctly... 1 Confirmation is the absolute bare minimum that you should accept as proof that a payment is complete. For higher value transfers (or for the more risk averse), you should consider waiting until a transaction has more confirmations before considering it "safe".

You would do well to read this: https://bitcoin.stackexchange.com/questions/1170/why-is-6-the-number-of-confirms-that-is-considered-secure

Essentially, the more confirmations, the more impractical it becomes to successfully execute a 51% attack.

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1 confirmation mean your transaction is confirmed by miners and your block is set in blockchain and 1 confirmation mean you received the payment.

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Quote from: Devid_warner on December 20, 2019, 01:16:10 PM

Quote from: The-Devil on December 20, 2019, 01:11:11 PM

When you send Bitcoin to someone, your Bitcoin transaction enters the Bitcoin network as an unconfirmed transaction. The transaction pool is created with some more unconfirmed transactions. Miners create a new block with some unconfirmed transactions from the transaction pool and try to place this new block in its intended place on the blockchain.

Suppose, if the new block number is 100, then the miners start looking for the number 99 block. When they were found, they placed the new 100 number block next to the 99 number block. When this new block sits at its intended location on the blockchain, all the transactions on that block receive 1 confirmation. After that, if a new block sits again, the transactions in the previous block will receive 2 confirmations. In this way, the more the blocks sit, the confirmation will increase.

I mean:
1 block means = 1 confirmation
1 block + 1 block = 2 confirmation
1block + 1 block + 1 block = 3 confirmation

6 confirmation is standard. Most wallets want six confirmation.

That means the more blocks and confirmation I received then my transaction will be, the more safer?

Yes. Read this for a better understanding: https://bitcoin.stackexchange.com/questions/8360/how-many-confirmations-do-i-need-to-ensure-a-transaction-is-successful

Devid_warner

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Quote from: The-Devil on December 20, 2019, 01:11:11 PM

When you send Bitcoin to someone, your Bitcoin transaction enters the Bitcoin network as an unconfirmed transaction. The transaction pool is created with some more unconfirmed transactions. Miners create a new block with some unconfirmed transactions from the transaction pool and try to place this new block in its intended place on the blockchain.

Suppose, if the new block number is 100, then the miners start looking for the number 99 block. When they were found, they placed the new 100 number block next to the 99 number block. When this new block sits at its intended location on the blockchain, all the transactions on that block receive 1 confirmation. After that, if a new block sits again, the transactions in the previous block will receive 2 confirmations. In this way, the more the blocks sit, the confirmation will increase.

I mean:
1 block means = 1 confirmation
1 block + 1 block = 2 confirmation
1block + 1 block + 1 block = 3 confirmation

6 confirmation is standard. Most wallets want six confirmation.

That means the more blocks and confirmation I received then my transaction will be, the more safer?

The-Devil

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When you send Bitcoin to someone, your Bitcoin transaction enters the Bitcoin network as an unconfirmed transaction. The transaction pool is created with some more unconfirmed transactions. Miners create a new block with some unconfirmed transactions from the transaction pool and try to place this new block in its intended place on the blockchain.

Suppose, if the new block number is 100, then the miners start looking for the number 99 block. When they were found, they placed the new 100 number block next to the 99 number block. When this new block sits at its intended location on the blockchain, all the transactions on that block receive 1 confirmation. After that, if a new block sits again, the transactions in the previous block will receive 2 confirmations. In this way, the more the blocks sit, the confirmation will increase.

I mean:
1 block means = 1 confirmation
1 block + 1 block = 2 confirmation
1block + 1 block + 1 block = 3 confirmation

6 confirmation is standard. Most wallets want six confirmation.

Devid_warner

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how confirmation count in a bitcoin transaction. its autometically done or are there any rules for it. I want to know about this.

Topic: what is mean 1, 2 confirmation in bitcoin transaction. (Read 377 times)