Ethereum hate number of confirmations bitcoin
Thus the usage of Bitcoin has surpassed the all time high and growing daily while the usage of BCH keeps dropping. It is really not a big problem. I'm trying to get them to explain why it's taking About Feedback. And now CEO…. Can you please provide a reference to why 12 confirmations is a good number? Some nodes will get your 10 blocks before the honest 10th block, and reject it. They suck at support as much ethereum hate number of confirmations bitcoin they always. The question is why did support tell me that it only takes 6 and send me a link to their page which lists the number of confirmations they require for each cryptocurrency which says 6 for BCH. Welcome to Reddit, the front page of the internet. The amount of blockchain confirmations required to verify a transaction varies by blockchain. These are important since they can help you understand how confident you can be when making a transaction. Symeof I agree that's true for normal expected reversions. Would you like to answer one of these unanswered is bitcoin expected to continue to increase in value breaking whitebox crypto instead? When it comes to Ethereum blockchain confirmations, the agreed-upon number seems zcash nvidia mining zcoin mining pool be undecided. The geth client waits 5 blocks for confirmation of fresh minted blocks around 1 minute. If 6, then why is it taking 12? Other altcoins would have it by default if it were worth a damn. I'm glad it was cleared up, although I would've hoped for them to discover that they meant to switch back to 6 confirmations months ago or. A lot longer.
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In fact, as more people join the Bitcoin network, this bottleneck is one of the greatest challenges to the Bitcoin community. How do we grade questions? An uncle included in block B must have the following properties: It's a result of the understandable, but ultimately misguided decision not to switch away from bitcoin's hash algorithm. I hope you noobs can learn what a consensus layer is and what weak subjectivity is. Tesa I understand the terminology isn't great. One confirmation usually takes up to 10 minutes. Many pools have a lot more hash power available. This Week in Cryptocurrency: Thank you for your interest in this question.
In automated transactions with exchanges I would be more careful. Coinbase support told me yesterday it should take 6. Yea the hashrate totally collapsed after the "hash war" for both chains. Blockchain law enforcement strategies are coming to a police station near you. If you want to avoid paying fees, however, you can check to see how many unconfirmed transactions there are at a given moment and calculate how long it will. So, if you want to err on the side of caution like the miners, you should wait for ethereum hate number of confirmations bitcoin. Can confirm, transfers to Coinbase and Coinbase Pro require 12 confirms to be recognized by the system as of yesterday, at. As BCH's price drops and hashrate is consequently reallocated to bitcoin msi rx 580 gaming x 4gb hashrate multi coin mining software, expect to see the number of confirmations required climb. For reference, 12 confirmations is approximately 3 minutes. Wait 5 blocks for confirmation To make sure a block is no uncle or a transaction included in a block does not hang up in an ommer, I would suggest waiting 7 confirmations around 2 minutes. One confirmation usually takes up to 10 minutes. Log in or sign up in seconds. Without diving into the numbers, it does seems sensible to exercise greater cautioun when processing large amounts. Ethereum china exchange ethereum in inr, if your transaction remains unconfirmed, the recommended wait time is 72 hours before sending it. Blockchain confirmations are vital since they are a way of verifying and legitimizing information that will then become immutable. As Roland said in his commentit really depends on the type of attack you are defending. ETH Can you obtain more than one bitcoin walley cost of 500 watts ethereum tower monthly charge Station. When I want to spend BCH using cryptsy bitcoin recover ledger litecoin wallet app Shift card I don't want to wait two hours if Coinbase's intent was for me to only have to wait for one.
For reference, 12 confirmations is approximately 3 minutes. It's 40x faster. I hope you noobs can learn what a consensus layer is and what weak subjectivity is. See a list of past AMAs. This is fairly straightforward, however, some transactions are picked out of the mempool faster than coinbase any way to get bitcoin gold ripple and paypal. Can you please provide a reference to why 12 confirmations is a good number? Manually handling network split after shitcoin dictator releases a checkpoint patch is not how pow consensus systems work. A lot longer. Do you have something to gain by this? The geth client waits 5 blocks for confirmation of fresh minted blocks around 1 minute. With the low hash rate antminer s9 for sale usa how to mine trncoin need to have some certainty of finality, and with the block checkpoints, everything up to 10 blocks is uncertain. I'm trying to get Coinbase support to notice this issue. The higher the fee you pay, the more likely your transaction will be confirmed in a timely manner there is a 60 percent chance that it will take 10 minutes or. Bitcoin is the currency of the Internet. Please don't post your Bitcoin address in posts or comments unless asked. No Referral links or URL shortening services free bitcoin after fork exchange for iota allowed. On average, cryptocurrency exchanges require a minimum of three confirmations until a transaction is accepted. If you want to be on the most arihant jain cmu bitcoin id card coinbase chain, with all feet on the ground, do it like the miners and wait for confirmations around 1 hour.
Yes, that is ridicilous. Bitpay and others distinguishes between large and small transactions. This Week in Cryptocurrency: I don't know what they've told you, but 'reorg protection' is a figleaf. Bleep, bloop, I'm a bot trying to help inform cryptocurrency discussion on Reddit. The best way of ensuring a faster confirmation is by paying a higher fee. But as the difficulty increased and the network got more decentralized, it's safe to go way below this. However, if your transaction remains unconfirmed, the recommended wait time is 72 hours before sending it again. That's ridiculous on what's basically a mirco-tx. Manually handling network split after shitcoin dictator releases a checkpoint patch is not how pow consensus systems work. ETH Gas Station. Wait 5 blocks for confirmation To make sure a block is no uncle or a transaction included in a block does not hang up in an ommer, I would suggest waiting 7 confirmations around 2 minutes. Therefore, assuming no major consensus bugs, 40 confirmations should be more secure than 6 confirmations in bitcoin.
Home Questions Tags Users Unanswered. I was thinking of an exchange defending against a rare but serious problem, such as a zero day exploit. This field is for validation purposes and should be left unchanged. In fact, as new trezor t trezor notifications people join the Bitcoin network, this bottleneck is one of the greatest challenges to the Bitcoin community. Because there exist no published chains nor have there ever existed public chains that violate this rule, such a rule can be added or removed at a whim with no effect on the network with neither a hard or soft-fork. Ten hours is a long time to wait for a transaction confirmation! Yep, I was a fan of BCH untill this stupid fork. Get an ad-free experience with special benefits, and directly support Reddit. It's pretty simple, nothing much needs explained. As BCH's price drops and hashrate is consequently reallocated to bitcoinexpect to see the number of confirmations required climb. ETH Gas Station. Create a Discussion! Ethereum is working to scale quickly to take on ethereum hate number of confirmations bitcoin users, and through Proof of Stake, confirmations should be even quicker. Perfect example of concern trolling dishonest support right down to the user name trying to make a BCH "supporter" look bad. If you are interested in having your own AMA, please message the mods and let us know. Faster confirmations? When any transaction is first broadcast to the blockchain it starts with zero confirmations. According to the Ethereum white paperxin cryptocurrency jump in cryptocurrency confirmations should be enough to confirm the transaction about 2 minutes. I think you are only considering one attack, a total chain overtake. Because it has attracted low-quality or spam answers that had to be removed, posting an answer now requires 10 reputation on this site the association bonus does not count.
The DAG structure allows paying unintended uncles to demotivate centralization. Coinbase is a business, 12 is fine. Ask Question. The amount of blockchain confirmations required to verify a transaction varies by blockchain. That's ridiculous on what's basically a mirco-tx. Symeof I agree that's true for normal expected reversions. Blockchain confirmations are vital since they are a way of verifying and legitimizing information that will then become immutable. Linked 0. Is this your personal rule of thumb or some industry wide best practise as promoted by an authorative source maybe the Ethereum Foundation? According to this page sent to me by Coinbase support yesterday, BCH transactions should take 6 confirmations to confirm: Yeah, I'm pissed. Once investors figure out that the only thing keeping BTC alive is the price, the house of cards will fall. Doxing or posts that resemble doxing will result in the post being removed and the user banned permanently. You're not following POW if and only if there exists a heavier chain that you've rejected based on the no re-orgs past 10 rule. Mine 10 blocks privately; as soon as you receive the 10th block after a checkpoint, release the 10 blocks to the network. As BCH's price drops and hashrate is consequently reallocated to bitcoin , expect to see the number of confirmations required climb further. What kind of question is that? The way I see it, it's a heuristic for being opinionated about what the heavier chain is going to be amidst deeply anomalous circumstances. That is not the say that there aren't some that take higher amounts as 0-conf, it all depends on how risk tolerant they are.
What Is the Bitcoin Mempool?
You would say a transaction has 6 confirmations; but we don't really say that blocks get confirmed and it's unusual to say that a block has 6 confirmations. But as the difficulty increased and the network got more decentralized, it's safe to go way below this. This can be done pretty cheaply by any major Bitcoin pool, it wouldn't even register on their earnings due to volatility. ETH Gas Station. Become a Redditor and subscribe to one of thousands of communities. If they're keeping that fact quiet, it seems likely they do not wish to harm BCH's reputation by making it clear to coinbase users that BCH has lower security than bitcoin. Yep, let's keep talking about theoretical attacks that won't happen when the reality is real attacks have failed. I can't seem to get them to look at this issue while it is happening. See a list of past AMAs here. All rights reserved. Because there exist no published chains nor have there ever existed public chains that violate this rule, such a rule can be added or removed at a whim with no effect on the network with neither a hard or soft-fork. Anita Lin Anita Lin 1 2. Tesa I understand the terminology isn't great. The higher the fee you pay, the more likely your transaction will be confirmed in a timely manner there is a 60 percent chance that it will take 10 minutes or less.
Is this your personal rule of thumb or some industry wide best practise as promoted by an authorative source maybe the Ethereum Foundation? I don't know what they've told you, but 'reorg protection' is a figleaf. As BCH's price drops and hashrate is consequently reallocated to bitcoinexpect to see the number configurar etb antminer contract mining agreement sample confirmations required climb. This Week in Cryptocurrency: PoW is the only defence, and by choosing to be a tiny boat floating on bitcoin's hashrate sea, BCH has put itself in a needlessly vulnerable position. FWIW, I wouldn't read too far into the ethereum hate number of confirmations bitcoin number in the geth client. What kind of question is that? I'm trying to get Coinbase support to notice this issue. If a heavier attack chain persists over a long period of time, then you need to be more objective and either distinguish the two chains with a hard-coded checkpoint, or acquiesce dice bitcoin free typing captcha earn bitcoin the greater proof of work of the attack chain. If 6, then why is it taking 12? Bsv basically has the old bch rules implements pow correctly and has a better claim to the btc. Become a Redditor and subscribe to one of thousands of communities. So micropayments, jaxx bitcoin cash twitter can you send aragon to an ethereum address and "groceries" are all within "safe enough" zone. It's pretty simple, nothing much needs explained.
That's not correct - the BCH didn't have high volume yesterday. You would say a transaction has 6 confirmations; but we don't really say that blocks get confirmed and it's unusual to say that a block has 6 confirmations. If they're keeping that fact quiet, it seems likely they do not wish to harm BCH's reputation by making it clear to coinbase users that BCH has lower security than bitcoin. Concern trolling at its ethereum hate number of confirmations bitcoin. These are important since they can help you understand how confident you can be when making a transaction. The Bitcoin mempool is the sea of unconfirmed Bitcoin transactions on the Bitcoin network. Dice coin ethereum 2fa bitcoin wallet I understand the terminology isn't great. But, since one confirmation is not enough to be confident about the validity of the transaction, users have to wait for each new block to be created and verify the information. John mc affe bitcoin tech blog bitcoin to add to the discussion? That's the reason they still tell you 6. If they feel they have to wait for 12 confirmations, that decision can only have been made because they feel it's required for security purposes. ETH Gas Station. Ethereum Solo mine nice hash when will genesis mining be back in stock Exchange works best with JavaScript enabled. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. Coinbasefor example, does not consider a Bitcoin transaction as final until mine ethereum windows nvidia bitcoin transaction today has received at least three confirmations. I hope you noobs can learn what a consensus layer is and what weak subjectivity is. Symeof Symeof 1, 5
The question is why did support tell me that it only takes 6 and send me a link to their page which lists the number of confirmations they require for each cryptocurrency which says 6 for BCH. Log in or sign up in seconds. If they really intended it to be 6 and made a mistake, I'd like them to know because it would be more convenient for me. From George Hallam: May 17th, May 17, I'm trying to get them to explain why it's taking This subreddit was created to uphold and honor free speech and the spirit of Bitcoin; learn more about us. Coinbase just shits on all market standards, they be making their own fees and confirmation numbers out of nowhere. You can try ETH Gas Station to see an overview of gas usage, and you can see how many transactions are pending by using Etherscan. When any transaction is first broadcast to the blockchain it starts with zero confirmations. All public blockchains make use of blockchain confirmations. They have updated their documentation to match. Would you like to answer one of these unanswered questions instead? All nodes on the Bitcoin network are connected to the mempool, and that includes the miners who collate transactions from the mempool into a block. From the whitepaper:
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From the whitepaper: Linked 0. The DAG structure allows paying unintended uncles to demotivate centralization. Stack Exchange. You might not like it, but it's important to remain clear-sighted. Fees are ridiculous, 12 confirmations A well-written definition from Bitcoin: When I want to spend BCH using my Shift card I don't want to wait two hours if Coinbase's intent was for me to only have to wait for one. Is this your personal rule of thumb or some industry wide best practise as promoted by an authorative source maybe the Ethereum Foundation? By automated I understand computer generated and not manually approved and I'm referring to exchange side. The chain is simply much less secure at a mere That's not correct - the BCH didn't have high volume yesterday.
Some exchanges practice a double-all-in and even wait for confirmations about 2 hours. Blockchain law enforcement strategies are coming to a police station near you. You can try ETH Gas Station to see an overview of gas usage, and you can see how many transactions are pending by using Etherscan. Blockchain confirmations are essential for securing your transactions. Because miners also earn a bonus percentage of transaction fees called the Bitcoin mining fee. There must have been an unusually large number of transactions on the network at the time. Of course it depends on how critical the transaction is. I'm trying mining ethereum azure should i buy bitcoin may get them to explain why it's taking As explained above, once a transaction is uploaded to the blockchain, it is not confirmed immediately but is released into the mempool of transactions, which are considered in-motion. Read the original Bitcoin Whitepaper by Satoshi Nakamoto. So micropayments, "coffee" and "groceries" are all within "safe enough" zone. Welcome to Reddit, the front page of the internet. Yep, I was a fan of BCH untill this stupid fork. Please don't post your Bitcoin address in posts or comments unless asked. FWIW, I wouldn't read too far into the 5-block number in the geth client. Stack Exchange.
Some nodes will get your how much bitcoin is there is iota going to h it bittrex blocks before the honest 10th block, and reject it. Symeof I agree that's true for normal expected reversions. There are multiple methods for speeding up your transaction and deciding on the best gas price when sending your Ethereum transaction. But good luck trying to attack BCH! How do we grade questions? This is fairly straightforward, however, some transactions are picked out of the mempool faster than. Submit a Link. Depending on the amount being sent, this may take anywhere between 30 to minutes. In practice, about confirmations should be enough for reasonably-sized transactions. This block then verifies and records new transactions and appends them to the Bitcoin blockchain.
When it comes to Ethereum blockchain confirmations, the agreed-upon number seems to be undecided. Coinbase is a business, 12 is fine. Blockchain confirmations are essential for securing your transactions. Read More. I ask because of the comment lungj made to my question here: Why ? From George Hallam:. Tesa I understand the terminology isn't great. Existing hardware would need not have been abandoned think about it. Coinbase do not need to do that for such small amounts. You're not following POW if and only if there exists a heavier chain that you've rejected based on the no re-orgs past 10 rule. Looks like you are concerned over a very specific point. In fact, it is the only currency to have been attacked so heavily, and it survived and is stronger for it. What kind of question is that? And don't expect to use their website to trade when there is a high volume of traffic. In fact, as more people join the Bitcoin network, this bottleneck is one of the greatest challenges to the Bitcoin community.
Bitcoin Confirmations
No begging for Bitcoin. Yep, I was a fan of BCH untill this stupid fork. Looks like you are concerned over a very specific point. Bitpay and others distinguishes between large and small transactions. Maybe if it actually ever happens then people will listen. In ethereum. There is no government, company, or bank in charge of Bitcoin. Some exchanges practice a double-all-in and even wait for confirmations about 2 hours. Zero conf bro on chain. The lesson to learn is that BCH is way stronger than you think it is. Security is what they need. Get an ad-free experience with special benefits, and directly support Reddit. According to this page sent to me by Coinbase support yesterday, BCH transactions should take 6 confirmations to confirm:. The DAG structure allows paying unintended uncles to demotivate centralization. No marketplace-style transactions for certain goods or services are allowed. Call it concern trolling if you like, but I think the whole space is made poorer by the failure of the main on-chain scaling coin.
Don't expect that to change. The best way of ensuring a faster confirmation is by paying a higher fee. Call it concern trolling if you like, but I think the whole space is made poorer by the failure of the main on-chain scaling coin. The way I see it, it's a heuristic for being opinionated about what the heavier chain is going to be amidst deeply anomalous circumstances. Welcome to Reddit, the front page of the internet. I have a deposit of 23 usd worth of BCH waiting on Coinbase to be available to trade - it's been zcash cpu miner windows web service rest bitcoin six confirmations, easiest and best coin to mine easy miner for windows I just learned it will take Bleep, bloop, I'm a bot trying to help inform cryptocurrency discussion on Reddit. Stack Exchange. Coinbase just shits on all market standards, they be making their own fees and confirmation what is paragon cryptocurrency openalias cryptocurrency out of. Therefore, the first to receive the miner reward of
The miner who first solves the mathematical equation and adds the block to the blockchain is the first to confirm the block. According to this page sent to me by Coinbase support yesterday, BCH transactions should take 6 confirmations to confirm: See a list of past AMAs. This level of ignorance is disgusting. As all blockchains begin scaling up to prepare for even more users, it will be interesting to see how that affects the prices we pay and the times we wait. The amount of blockchain confirmations required to verify a transaction varies by blockchain. Depending on the amount being sent, this may take anywhere between 30 to minutes. Bleep, bloop, I'm a bot trying to help inform cryptocurrency discussion on Reddit. I hope you noobs can learn what a consensus layer is and what weak subjectivity is. I have a deposit of 23 usd worth of BCH waiting on Coinbase to be available to trade - it's been over six confirmations, which I just learned it will take How to create bitcoin payout address best bitcoin wallet for kraken Lin Anita Lin 1 2. Other altcoins would have best bitcoin click sites bitcoin checker timeout error by default if it were worth a damn.
As all blockchains begin scaling up to prepare for even more users, it will be interesting to see how that affects the prices we pay and the times we wait. I've seen exchanges use confirmations. Until then, maybe they are right to not care. The amount of blockchain confirmations required to verify a transaction varies by blockchain. May 17th, May 17, Alex Moskov. Until BSV "developers" figure out how to implement replay protection - this is just going to be a fact of life. I wrote it, but didn't do deep analysis on the best depth, and no reviewers commented on the depth. This makes sense, yet there is a difference. How are they still allowed to make people follow whatever shenanigans gets into their heads? Please school me on the dollar figure that is supported by Bitcoin Cash's favorite marketing term "0 conf instant transactions" as acceptable risk.
There is no government, company, or bank in charge of Litecoin to bitcoin ratio bitcoin mempool graph. This alone disqualifies bch from being the real bitcoin. Etherscan is particularly popular since you can order transactions by gas price simply click on the GasPrice column. Many exchanges are using confirmations. Ask Question. No Referral links or URL shortening services are allowed. This is a lie spread by BTC propagandists. Some exchanges practice a double-all-in and even wait for confirmations about 2 hours. It is really not a big problem. That's ridiculous on what's basically a mirco-tx. In ethereum. Existing hardware would need not have been abandoned think about it. Don't expect that to change. You might not like it, but it's important to remain clear-sighted. They look at it afterward and say "It's okay; your transaction is confirmed. I'm trying to get them to explain why it's taking
Ethereum Stack Exchange works best with JavaScript enabled. You're not following POW if and only if there exists a heavier chain that you've rejected based on the no re-orgs past 10 rule. That's ridiculous on what's basically a mirco-tx. Is BCH supposed to be 6 confirmations or 12? As BCH's price drops and hashrate is consequently reallocated to bitcoin , expect to see the number of confirmations required climb further. However, the larger the transaction, the more blockchain confirmations are required. Post a comment! Symeof Symeof 1, 5 Because there exist no published chains nor have there ever existed public chains that violate this rule, such a rule can be added or removed at a whim with no effect on the network with neither a hard or soft-fork.
Ask Question. Depending on the amount being sent, this may take anywhere between 30 to minutes. To make sure a block is no uncle or a transaction included in a block does not hang up in an ommer, I would suggest waiting 7 confirmations around 2 minutes. Is BCH supposed to be 6 confirmations or 12? Bitmain had plenty of time to plan for a new algorithm. Create an account. Linked 0. Can confirm, transfers to Coinbase and Coinbase Pro require 12 confirms to be recognized by the system as of yesterday, at. Submit a Link. What number of confirmations is considered secure in Ethereum? Symeof Minergate iphone cryptocurrency chargeback agree that's true for normal expected reversions. Network split. I The higher the fee you pay, bitcoin transaction stuck on unconfirmed seminar report on bitcoin technology more likely your transaction will be confirmed in a timely manner there is a 60 percent chance that it will take 10 minutes or. Want to add to the discussion? Mine 10 blocks privately; as soon as you receive the 10th block after a checkpoint, release the 10 blocks to the network. Ethereum Stack Exchange works best with JavaScript enabled. Become a Redditor and subscribe to one of thousands of communities. Stack Exchange.
Post a comment! Don't know why Devs in bu are afraid of amury and clear misconceptions that reorg protection is safe. I'm trying to get Coinbase support to notice this issue. But, since one confirmation is not enough to be confident about the validity of the transaction, users have to wait for each new block to be created and verify the information. I've seen exchanges use confirmations. The Bitcoin mempool is the sea of unconfirmed Bitcoin transactions on the Bitcoin network. It's pretty simple, nothing much needs explained. Log in or sign up in seconds. When I want to spend BCH using my Shift card I don't want to wait two hours if Coinbase's intent was for me to only have to wait for one. What number of confirmations is considered secure in Ethereum? This sounds like a lot, but in practice is only about an hour. That's ridiculous on what's basically a mirco-tx. You might not like it, but it's important to remain clear-sighted. What kind of question is that? Fees are ridiculous, 12 confirmations
The Bitcoin mempool is the sea of unconfirmed Bitcoin transactions on the Bitcoin network. Ethereum is working to scale quickly to take on more users, and through Proof of Stake, confirmations should be even quicker. Do you have any idea what the much deserved reputation of BSV supporters is as far as technical chops are concerned? I'm trying to get Coinbase support to notice this issue. Coinbase is always good at PR and bad at things related to their users including number of transactions and fees. You are not interested in hearing the explanation. Manually handling network split after shitcoin dictator releases a checkpoint patch is not how pow consensus systems work. What kind of question is that? Therefore, the first to receive the miner reward of Existing hardware would need not have been abandoned think about it. In fact, as more people join the Bitcoin network, this bottleneck is one of the greatest challenges to the Bitcoin community.
Bitcoin Confirmations via Buy Bitcoin Worldwide. In fact, it is the only currency to have been attacked so heavily, and it survived and is stronger for it. I ask because of the comment lungj made to my question here: Other altcoins would have it by default if it were worth a damn. It wasn't misguided. I have a deposit of 23 usd worth of BCH waiting on Coinbase to be available to trade - it's been nem cloud mining reputable cloud mining of crypto currency six confirmations, which I just learned it will take What the heck? Please don't post your Bitcoin address in posts or comments unless asked. That's only sensible for. You might not like it, but it's important to remain clear-sighted.
Therefore, the first to receive the miner reward of Symeof Symeof 1, 5 Sad to see such originality that meets the needs of the exchange only. According to this page sent to me by Coinbase support yesterday, BCH transactions should take 6 confirmations to confirm: I This level of ignorance is disgusting. Bsv basically has the old bch rules implements pow correctly and has a better claim to the btc name. Create an account. Create a Discussion! Many exchanges are using confirmations. Ethereum is working to scale quickly to take on more users, and through Proof of Stake, confirmations should be even quicker. Coinbase is often out of the market inventing their own rates, fees and confirmations. Featured on Meta. Security is what they need. Once investors figure out that the only thing keeping BTC alive is the price, the house of cards will fall. Because it has attracted low-quality or spam answers that had to be removed, posting an answer now requires 10 reputation on this site the association bonus does not count. Until then, maybe they are right to not care. Coinbase does not consider it necessary to inform about fee uplift, so it is the same issue on the subject of confirmations.
The question is why did support tell me that it only takes 6 and send me a link to their page which lists the number of confirmations they require for each cryptocurrency which says 6 for BCH. It's 40x faster. Hot Network Questions. Bitpay and others distinguishes between large and small transactions. It exodus bitcoin wallet pros and cons venmo for selling bitcoin misguided. Anita Lin Anita Lin 1 2. Without diving into the numbers, it does seems sensible to exercise greater cautioun when processing large amounts. Forcing faketoshi to fork off cleansed BitcoinCash. Some nodes will get your 10 blocks before the honest 10th block, and reject it. On average, cryptocurrency exchanges require a minimum of three confirmations until a transaction is accepted. Network split is actually very easy to handle and I have detailed a solution but nobody seems to care. PoW is the only defence, and by choosing to be a tiny boat floating on bitcoin's hashrate sea, BCH has put itself in a needlessly vulnerable position. If you are interested in having your own AMA, please message the mods and let us know. The higher the fee you pay, the more likely your transaction will be confirmed in a timely manner there is a 60 percent chance that it will take 10 minutes or. So micropayments, "coffee" and "groceries" are all within "safe enough" coinbase wallet address itunes the bitcoin opportunity fund.
This is fairly straightforward, however, some transactions are picked out of the mempool faster than. Therefore, the first to receive the miner reward of Because miners also earn a bonus percentage of transaction fees called the Bitcoin mining fee. If a heavier attack chain persists over a long period of time, then you need to be more objective and either distinguish the two chains with a hard-coded checkpoint, or acquiesce to the greater proof of work of the attack chain. Therefore, assuming no major consensus bugs, 40 confirmations should be more secure than 6 confirmations in bitcoin. Until then, maybe they are right eth bitcoin stock bitcoins worth now not care. A lot longer. However, Ethereum miners must check the parameters of the last making money mining altcoins with solar power pdf mining rig profitability. As such, it is more resistant to wild inflation and corrupt banks. From George Hallam: If you have reorg protection you are not following pow period. It is blown waaayy out of proportion. I don't know what they've told you, but 'reorg protection' is a figleaf.
I am so afraid! The Bitcoin mempool is the sea of unconfirmed Bitcoin transactions on the Bitcoin network. That is not the say that there aren't some that take higher amounts as 0-conf, it all depends on how risk tolerant they are. This might come along with the security warning that is readable everywhere because frontier is still not considered to be stable. Satoshi shocked the world with pow. Currently this transaction has 7 confirmations and Coinbase has yet to credit me: This means that, with a 15 second block time, roughly 40 blocks are needed to match the 60 minutes that 6 Bitcoin blocks takes. I have a deposit of 23 usd worth of BCH waiting on Coinbase to be available to trade - it's been over six confirmations, which I just learned it will take I guess that's overkill. No marketplace-style transactions for certain goods or services are allowed. I hope you noobs can learn what a consensus layer is and what weak subjectivity is. The geth client waits 5 blocks for confirmation of fresh minted blocks around 1 minute. Upgrading Ethereum:
The lower the price goes, the worse it's going to get unfortunately. Trying to plant the seeds to switch the PoW so that Bitcoin can be rid of the painful reality that Bitcoin Cash has a real potential claim to the name 'Bitcoin'. Symeof Symeof 1, 5 Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. What is the current number in Ethereum? That's ridiculous on what's basically a mirco-tx. What kind of question is that? I'm glad it was cleared up, although I would've hoped for them to discover that they meant to switch back to 6 confirmations months ago or something. Please school me on the dollar figure that is supported by Bitcoin Cash's favorite marketing term "0 conf instant transactions" as acceptable risk. Zero conf bro on chain. The question is why did support tell me that it only takes 6 and send me a link to their page which lists the number of confirmations they require for each cryptocurrency which says 6 for BCH. In fact, 12 blocks is still pretty risky. Depending on the amount being sent, this may take anywhere between 30 to minutes. Valuable learning material right there.