why bitcoin transactions require some confirmation?

deisik

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Quote from: DompetBTC on March 04, 2017, 09:35:33 PM

please confirm bitcoin explanation for the problem?

In layman terms, because no one trusts anyone by default

But it is assumed that if you are using Bitcoin, you are trusting the Bitcoin network. Namely, the consensus or overall opinion of the network regarding particular transaction. If it gets confirmed by the network, it is considered as legitimate and binding to everyone. For example, when you send 1 bitcoin to someone from your wallet, the confirmation of this transaction means that now you have 1 bitcoin less in your wallet, while the receiving end (the wallet where you send this bitcoin), consequently, has 1 bitcoin more. Without confirmation, your transaction is essentially neither here nor there

Kakmakr

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Remember, we do not have a bank or some financial institution to validate that you have the money that you want to spend. So the Bitcoin nodes does that for you. These nodes compare the data and when that data correspond to what they have, they confirm the transaction and it goes onto the Blockchain.

The Blockchain is public for all to see. ^smile^

hisuka

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Actually bitcoin transaction requires some confirmation to be able to recognize the sending and receiving by the system. It will pass on the network step by step processing, sometimes too long to confirm possible by congestion in the network. So its really requires some confirmation.

bamboylee

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A simple google search will lead you to what you are trying to know OP. or better yet, read the bitcoin whitepaper. It has what you need to understand about bitcoin as a currency. Also, there are tons to read at the beginners section if you want to learn more

betlord90

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It's for security purposes. It should be confirmed to be able to know if its valid or not.

shinratensei_

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Quote from: DompetBTC on March 04, 2017, 09:47:17 PM

automatic confirmation by the system?

All of the systems on the blockchain is already included on the automation.

shinratensei_

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Quote from: blackhawkeye1912 on March 05, 2017, 05:18:55 PM

Quote from: shinratensei_ on March 04, 2017, 09:40:35 PM

You will get a lot through the search engine or toolbar search
http://bitcoinsimplified.org/learn-more/confirmations/

or here.

https://bitcointalksearch.org/topic/can-someone-explain-me-about-bitcoin-blockchain-confirmation-in-a-easy-way-112041

I'm a bit still confused about this things its very deep in my part. In my understanding if I send bitcoin to my friend of it is unconfirmed because it need to wait a new created block then once the blocke is been created and verified that's the time it will give the confirmation is that righ? why does it need a confirmation several times before it arrive to its real destination, so very deep. Huh

It's waiting for your transaction to get caught by the block and the block will be validating your transaction. To give a legalism on your transaction, to prevent the double spend.

Yakamoto

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Quote from: DompetBTC on March 04, 2017, 09:35:33 PM

please confirm bitcoin explanation for the problem?

All Bitcoin transactions are confirmed by the network to make sure that they really happened, meaning the Bitcoin has been moved to another address. Every single transaction, from 1 satoshi all the way to 21 million Bitcoin, will have to be confirmed by the blockchain to verify it all really did happen.

Confirmations can take a long time, as 1 confirmation is equal to one block being discovered, mostly. It also depends on whether or not your transaction was included with said block.

blackhawkeye1912

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Quote from: shinratensei_ on March 04, 2017, 09:40:35 PM

You will get a lot through the search engine or toolbar search
http://bitcoinsimplified.org/learn-more/confirmations/

or here.

https://bitcointalksearch.org/topic/can-someone-explain-me-about-bitcoin-blockchain-confirmation-in-a-easy-way-112041

I'm a bit still confused about this things its very deep in my part. In my understanding if I send bitcoin to my friend of it is unconfirmed because it need to wait a new created block then once the blocke is been created and verified that's the time it will give the confirmation is that righ? why does it need a confirmation several times before it arrive to its real destination, so very deep. Huh

1Referee

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Quote from: Xester on March 05, 2017, 04:41:31 AM

Many have been a victim of double spending before and many merchants have already sent their items without knowing that what they received is a double spent bitcoin rendering it valueless.

Most merchants make use of a payment processor that takes care of everything related to the Bitcoin payment option. If the payment processor in question doesn't fully trust an incoming payment due to a low included fee, then they won't "credit" the merchant until that transaction gets its first confirmation. In that regard, as long as the merchant isn't being credited, the merchant won't send out what you bought. If you look at how soft local merchants were back in 2013/2014, where you could buy yourself something to drink and a hamburger, where after that you could just walk out and perform a double spend. It's not like that anymore. They will force you to wait till that first confirmation comes through now, which renders Bitcoin as local currency worthless in that regard. No one is going to wait possibly 30-50 minutes in a store to buy something.

DoublerHunter

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I think bitcoin needs or requires some confirmation to be able to make the network smooth and well organized because of the confirmation are network are not in chaos and it serves pretty smooth. Also, confirmations provides profit for miners to continue sustaining our needs in our network. So i think those are the reason why there is confirmation.

Xester

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Quote from: DompetBTC on March 04, 2017, 09:35:33 PM

please confirm bitcoin explanation for the problem?

Bitcoin transactions require some confirmation so as to avoid double spending. Double spending means that the same amount is sent twice. Many have been a victim of double spending before and many merchants have already sent their items without knowing that what they received is a double spent bitcoin rendering it valueless. Thus confirmation is needed as a protection for the buyers and receivers of bitcoin.

MyIdeas

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It is important to have confirmation for the transaction of bitcoin because it maintain the blockchain system and make the system secure. If there would be no any confirmation system then people would scam others with instant transactions.

doomistake

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Quote from: DompetBTC on March 04, 2017, 09:35:33 PM

please confirm bitcoin explanation for the problem?

What do you mean by this please confirm bitcoin explanation for the problem? I am confused. Huh

If you are asking why it is needed to confirm the transactions in bitcoin, then read this:
https://en.bitcoin.it/wiki/Confirmation

It will help you with your question if this is what you are trying to ask here, I am just confused about this question, really, " please confirm bitcoin explanation for the problem? "

Nekutasa

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I don't think I understand your question...

Are you asking how many confirmations you need? Well ideally it's 1 for each transaction. Why? Because the transaction needs to be confirmed otherwise things such as double spend could happened (as we've seen in the past)

DompetBTC

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automatic confirmation by the system?

shinratensei_

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You will get a lot through the search engine or toolbar search
http://bitcoinsimplified.org/learn-more/confirmations/

or here.

https://bitcointalksearch.org/topic/can-someone-explain-me-about-bitcoin-blockchain-confirmation-in-a-easy-way-112041

DompetBTC

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please confirm bitcoin explanation for the problem?

Topic: why bitcoin transactions require some confirmation? (Read 741 times)