3 Things to Know about Bitcoin Confirmations (2020 Updated)

Always bet on RED

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XMG - Coin of the Magi

Coin of the Magi is a peer-to-peer global currency that enables instant payments to anyone in the world. XMG utilizes proof-of-work and proof-of-stake systems and is CPU and eco focussed - rewards reduce as hash increases.
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BitStar - [BITS]

Bitstar is a fast transaction currency with low transaction fees. We are dedicated to helping the mentelity foundation. Bitstar is a core coin of the superNET network. We are here for the long run. The coin had a six week Proof of Work (PoW) phase, and has transitioned to full Proof of Stake (PoS).
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Introducing MiniPOS - A self-hosted, 0-confirmation Bitcoin Cash point-of-sale server

Introducing MiniPOS - A self-hosted, 0-confirmation Bitcoin Cash point-of-sale server submitted by simon-v to btc [link] [comments]

Minipos: A self-hosted, 0-confirmation Bitcoin Cash point-of-sale server

Minipos: A self-hosted, 0-confirmation Bitcoin Cash point-of-sale server submitted by Egon_1 to btc [link] [comments]

Introducing MiniPOS - A self-hosted, 0-confirmation Bitcoin Cash point-of-sale server

Introducing MiniPOS - A self-hosted, 0-confirmation Bitcoin Cash point-of-sale server submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Minipos: A self-hosted, 0-confirmation Bitcoin Cash point-of-sale server

Minipos: A self-hosted, 0-confirmation Bitcoin Cash point-of-sale server submitted by btcnewsupdates to BitcoinAdoption [link] [comments]

0 confirmations bitcoin transaction from 24 hours ago, with fee, am i completed screwed?

it just got through and fully confirmed a few hours ago no need to panic
submitted by SWIMsfriend to Bitcoin [link] [comments]

Why bitcoin 0 confirmation transactions are safe and how bitcoin theorists distorts this reality.

I have run various successful businesses over the past 30 years. One overwhelming lesson this has taught me is that the vast majority of people are honest. I also believe that a majority could be dishonest if the right incentives are applied.
A few simple illustrations. My present business is a busy bar and restaurant in a developing country. We operate a tab system for every customer. A customer could easily just walk off and not pay the tab. We serve over 2,000 customers a day but this happens less than 0.00001% of the time.
We offer a money back guarantee as have all my previous businesses. If you are not happy for any reason we will refund your money. Obviously in a restaurant we can not also reclaim the goods. People are often shocked that we offer such a guarantee and feel sure we must get ripped off a lot. We do not.
Here is the reality. The vast majority of people need to achieve substantial gains before they will risk dishonest behavior. The bigger the potential gain the larger percentage of people will be dishonest. Some people will be honest no matter how large the potential gains but the risk of dishonesty grows as the potential gains grow.
The risk of being caught also affects this calculation. As the risk of being caught diminishes so does the amount of potential gain required to foster dishonest behaviour.
In the restaurant the risk of being caught skipping out on a tab is small but clearly, from empirical evidence, large enough to discourage this behavior. The risk of being caught making a false claim on the guarantee is virtually 100%. To make the claim you need to advise the staff who will most likely know if your experience was unsatisfactory. You will still get your refund but the staff will know you are dishonest and this in itself seems to be enough to discourage bogus claims.
That is why I have always been relaxed about accepting 0 confirmation bitcoins in the restaurant. The reward for cheating is not high enough to make cheating worthwhile. Also the effort required to double spend on these small amounts does not pass the threshold to overcome peoples basic honesty. In two years of accepting 0 confirmation bitcoins and thousands of transactions we have never had a double spend. Not once!
In other words, for us, 0 confirmation bitcoins are 100% safe.
Now, contrast this with the bitcoin eco-system at large. There are billions of dollars at stake here and clearly the design of bitcoin has to be 100% secure. The threshold for dishonesty is well and truly met and any weakness will be mercilessly exploited. The inventor and developers have rightly made security their number 1 priority.
This is why bitcoin experts will explicitly state that 0 confirmation bitcoins are not safe. "The system was not designed to make 0 conf safe and it isn't so we should not allow or encourage it", they say. They extrapolate their system wide view of bitcoin where 0 conf is absolutely not safe, to my restaurant were 0 conf bitcoins are 100% safe (data not theory).
Then along comes RBF. This removes the difficulty of pulling off a double spend to zero and the chance of being caught to zero on 0 conf transactions. RBF offers limited and dubious advantages that could easily be implemented differently without breaking 0 conf transactions. It breaks my calculations that 0 conf transactions are 100% safe in my business situation. Maybe once RBF is fully implemented it will still not meet the threshold to cheat but it certainly makes it much lower and my gut tells me it lowers it enough to break 0 conf in my use case scenario.
Don't worry though, Lightning Network is coming to save the day with demonstrably safe 0 conf transactions. That's great and I will certainly use it IF it ever actually arrives. For now it is all talk and theory and I can't use it in my restaurant and am unlikely to be able to for the next few years.
Who in their right mind would break a real world use scenario for bitcoin now, for a promised improvement way down the track. I totally bought into Satoshi's vision of a digital peer to peer cash outside the existing corrupt monetary system. Now some people want to take that away from me and I am not happy about that.
Developers and theorist, please carry on developing and theorizing but don't tell me how to use the system and don't tell me 0 conf has always been unsafe and don't mess up a very very valuable attribute bitcoin has right now for some pie in the sky future that may never actually arrive.
submitted by PattayaPete to btc [link] [comments]

Blockchain.com 0 confirmations (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Can anyone help me better understand how the speed of a transaction is determined? I seem to have a couple stuck with 0 confirmations... (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

HELP ! Unconfirmed Bitcoin Transaction ... 0 confirmation, "STUCK" ... how to recover ?

Here's the story I wanted to transfer all my BTC from Ledger to an exchange (CDC) I never touch fees, I let the Ledger put the best for me, even if it's high, I'm sure around 100% the transaction will go well.
EXCEPT TONIGHT.
Althoug fees around 9 dollars, my BTC are stuck in the blockchain ...
"UNCONFIRMED"
"0 CONFIRMATION"
and it's now hours (maybe 5 hours from now)
I have read this https://coincentral.com/cancel-unconfirmed-bitcoin-transaction/
I don't understand, but the question is : is this trick compatible with Ledger BTC Wallet ?
In other words : is BTC Ledger wallet compatible with RBF ? (WTF is that, seriously ...)
I want to cry right now, because it was all my BTC bought during 3 years, and ... there are in same time somewhere and nowhere, my heart is hard pumping.
Thanks for your help :(
submitted by rodmynameisrod to ledgerwallet [link] [comments]

08-01 22:02 - 'Developers: Confirm Bitcoin Fork Easter Egg on BTC Fork Genesis block hash EC and 148 ! This is ViaBTC Joke when they created the Hash Nonce' (reddit.com) by /u/Sonicthoughts removed from /r/Bitcoin within 0-9min

Developers: Confirm Bitcoin Fork Easter Egg on BTC Fork Genesis block hash EC and 148 ! This is ViaBTC Joke when they created the Hash Nonce
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Author: Sonicthoughts
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Sent bitcoin, 45 min with 0 confirmations?

Longest i've had to wait... any advice?
submitted by HutDuster to CoinBase [link] [comments]

0.5 Bitcoin deposit with 11 confirmations marked as "Pending"

I will update when the date when the 0.5 BTC has been credited. The txid is: https://blockstream.info/tx/837d80a60325ed368553abe3469aa124aabb5e805d851949e0ea1db60c90a415 (Thanks for using Blockstream and not those clowns at Blockchain.com)
No problems with other deposits (0.02, 0.11, 0.12).
Thanks!!! Super awesome seeing such a large platform support Bitcoin!!!
I will update this thread with the results.
EDIT: The Bitcoin transaction was rejected on 5/26/2020. No reason specified and her account was not banned. She was required to scan a QR code in order to have the Bitcoin refunded. She was refunded 0.49981864 BTC on txid: bcac73d996ba35b8ea45f07e6439412a0f60c87b1517cc8aec60a1bf8dc5c962
submitted by BayAreaCoins to CashApp [link] [comments]

The marketing director for Bitcoin ABC has apparently never heard of 0-confirmation transactions. 🤦🏻‍♂️🤷🏻‍♂️

The marketing director for Bitcoin ABC has apparently never heard of 0-confirmation transactions. 🤦🏻‍♂️🤷🏻‍♂️ submitted by scotty321 to btc [link] [comments]

A website accepting 0-confirmation transactions for Bitcoin back in 2011. How times have changed...

submitted by 1MightBeAPenguin to btc [link] [comments]

Bitcoin transaction 0/3 confirmations in 12 hours...

Did I fuck up or something
Fee
0.00008814 BTC(39.173 sat/B - 9.793 sat/WU - 225 bytes)
submitted by IamChrisGaming to Bitcoin [link] [comments]

How the US Elections Have and Will Impact the Price of Bitcoin

What Happened to the Price of Bitcoin in 2012 and 2016?

Presidential elections in the United States happen every four years — and it's interesting to note that they follow the same cycle as Bitcoin halving events.
‍Let's begin by taking a look at how Bitcoin fared in the past two U.S. elections. Back in 2012, when the crypto assets space was immature and in a very nascent phase, BTC was fairly muted when Barack Obama secured a second term, and stubbornly hovered around the $10.90 mark. Fast forward to November 2013, one year on from his re-election, and Bitcoin had surged by 2,221% to hit $253. However, it would be foolish to suggest that Obama had anything to do with this.
President Donald Trump's arrival in 2016 was much more interesting. When the result was first confirmed, Bitcoin shot up by 3.8% — from $709 to $736. Back then, the short-term surge was linked to the fact that Trump's victory took the stock market by surprise — and created uncertainty and volatility internationally. This resulted in demand for safe haven assets, and Bitcoin is regarded as one of them.
Shortly before the result was announced, crypto hedge fund manager Jacob Eliosoff had told Coindesk: "[If Trump wins] it would be an epic disaster in a bunch of respects — economic, geopolitical, democratic — and in the fear and chaos Bitcoin would be a defensive asset people could turn to."

How Will the U.S. Election in 2020 Affect Bitcoin?

The million-dollar (ahem, the 100 BTC) question is how digital currencies will react to the result this time. This presidential election is unusual for the markets because of how the coronavirus pandemic is dominating the news cycle. COVID could also end up affecting the speed of the result because of the volume of mail-in ballots.
It's highly possible that Bitcoin could remain fairly muted throughout the election if the result is clear. But here's a disclaimer: the outcome is shaping to be anything but.
Normally, the result is called by U.S. news networks in the early hours of the morning that follows the vote. But some experts are warning that ballots could take days or weeks to process this time around. All of this would create uncertainty for the U.S. dollar and the stock market, and this could contribute to a surge in demand for the likes of Bitcoin and Ethereum.
Donald Trump has also suggested that he may challenge the result of the upcoming U.S. election if he believes it is rigged. This would also spook the stock market, and again would work in the favor of cryptocurrencies and precious metals.
As you can see, the overarching theme here is certainty. Digital assets are unlikely to move much if there's a clear result and a peaceful transition of power — but expect turbulence if things start to get messy in Washington.
It is important to stress that not everyone agrees with this idea. Recent Bitcoin news has cast doubt on whether the cryptocurrency is the safe haven asset that everyone says it is — and some analysts argue that BTC is more closely correlated to the stock market than we think. In this scenario, we could see Bitcoin move in step with equities as they digest the news. Although Wall Street thinks a Trump win is unlikely, a second term for the Republicans is regarded as the preferable option in financial terms because of how Trump favors tax cuts.
‍Irrespective of who wins, there's going to be no shortage of crypto news...and there are so many questions to answer. Will the Fed finally start looking into CBDCs in a meaningful way? Will a stimulus package be approved? Are interest rates going to go negative? Will the USD weaken? Will Bitcoin return to its all-time high of $20,000 and embark on a new bull run? The rollercoaster ride for cryptocurrencies is far from over.
https://coinmarketcap.com/alexandria/article/how-us-election-could-influence-bitcoin-prices
submitted by airseasky to CoinMarketCap [link] [comments]

Manipulation of the audience by "Bitcoin BCH" - 0-conf confirmations

Manipulation of the audience by submitted by lordfervi to Bitcoin [link] [comments]

#Relictum Pro transaction speed takes from 0.5 to 1 second. ⚡️ While the average speed of filing the network (all nodes) with blocks (Bitcoin or Ether) existing for competitors, taking into account the confirmations, takes, on average, from 10 minutes to several weeks. #DLT #blockchain5.0

submitted by cryptoallbot to cryptoall [link] [comments]

#Relictum Pro transaction speed takes from 0.5 to 1 second. ⚡️ While the average speed of filing the network (all nodes) with blocks (Bitcoin or Ether) existing for competitors, taking into account the confirmations, takes, on average, from 10 minutes to several weeks. #DLT #blockchain5.0

submitted by natka5 to Crypto_Currency_News [link] [comments]

Someone Paid 0.13$ as fee when will it confirmed? (x-post from /r/Bitcoin)

Someone Paid 0.13$ as fee when will it confirmed? (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

04-17 10:14 - 'Depends on the context. It's secure when it comes to confirmations, and that's my mistake, but 0-confirmation transactions are not safe anymore because of RBF implementation. / This flaw has been exposed multiple tim...' by /u/1MightBeAPenguin removed from /r/Bitcoin within 239-249min

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Depends on the context. It's secure when it comes to confirmations, and that's my mistake, but 0-confirmation transactions are not safe anymore because of RBF implementation.
This flaw has been exposed multiple times using BTC wallets. Someone can cancel a transaction by setting a fee rate, making a 0-conf transaction, and then changing the fee rate right after.
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Author: 1MightBeAPenguin
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Bitcoin ABC 0.18.5 has been released! This release adds deep reorg protection to ensure that transactions are immutable after 10 confirmations. This safeguard helps users, businesses, and exchanges stay secure and free from disruption.

Bitcoin ABC 0.18.5 has been released! This release adds deep reorg protection to ensure that transactions are immutable after 10 confirmations. This safeguard helps users, businesses, and exchanges stay secure and free from disruption. submitted by money78 to btc [link] [comments]

What Are Bitcoin Blocks and Bitcoin Confirmations ? - YouTube 0 Confirmation Payments and Double Spends How To Check My Number Of Bitcoin Confirmations Using Luno ... confirm unconfirmed bitcoin transaction fast - YouTube What Are Bitcoin Blocks and Bitcoin Confirmations ?

Number of Confirmations. The classic bitcoin client will show a transaction as "n/unconfirmed" until the transaction is 6 blocks deep. Merchants and exchanges who accept bitcoins as payment can and should set their own threshold as to how many blocks are required until funds are considered confirmed. When potential loss due to double spending as nominal, as with very inexpensive or non ... Bitcoin Confirmations and Blocks Summary. Bitcoin transactions are bundled into blocks. These blocks are inserted by Bitcoin miners into the Bitcoin ledger of transactions, known as the blockchain. If your transaction was inside a successfully mined block, you will see it receive 1 confirmation. Each block mined thereafter will award your transaction with an additional confirmation. It’s ... It is still at 0 confirmations. Further Detail: the network propagation is very low at 0-1%; I used the recommended fees setting(the middle setting) I sent a couple cents from the same wallet to the same receiving wallet and it went through to 3 confirms after about an hour or so. my wallet is : and the hash is: So, now I'm stuck and can't find any info online that I understand to help me with ... At this point the chances of your transaction being invalidated are less than 0.1%. New blocks are added to the blockchain through the mining process, which is needed to secure a network and process a Bitcoin transaction. The bigger the value of the transaction, the more confirmations you should wait for as this helps to safely verify a transaction has taken place. For example, commentators ... Each Bitcoin confirmations represents the total number of blocks that are generated since the block that has your transaction details. For better understanding let’s see how Bitcoin block confirmations work. How Bitcoin block confirmations work? Let’s say you send some Bitcoin to your Friend. Now before this transaction gets included in a block it goes into a pool of unconfirmed Bitcoin ...

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What Are Bitcoin Blocks and Bitcoin Confirmations ? - YouTube

Try watching this video on www.youtube.com, or enable JavaScript if it is disabled in your browser. This video demonstrates the speed and ease in which a bitcoin transaction can take place. The security is set to 0 confirmations so that it's near instantaneous. This is useful for low priced ... What exactly is 'confirmed' by Bitcoin? Why do transaction confirmations matter, and how does that relate to block confirmations? In This video shot on West Oakland Park Blvd in Broward County ... A short simplified tutorial about Bitcoin blocks and confirmations for newbies. For the complete text guide visit: http://bit.ly/2qDVVVW Join our 7-day Bitco... https://GeorgeLevy.com/Free presents: In this video I answer a question from one of the students of the Bitcoin Advanced Level Transactions Course and I expl...

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