Linked Questions

1
vote
1answer
79 views

Meaning of confirmation within n blocks? [duplicate]

I have a hard time understanding the meaning of below sentence: "To confirm within 48 blocks, a transaction fee of 1 satoshi/byte is required." I have 2 questions here: 1) Does this mean that the ...
0
votes
3answers
94 views

Is every bitcoin transaction (eventualy) validated by every miner? [duplicate]

I can see that my bitcoin transfers becomes real when my exchange detects 2 or more confirmations. I believe each confirmation is a validation. Am I correct? If so, How many confirmations will have ...
0
votes
1answer
55 views

What are “confirmations”when selling Bitcoins? [duplicate]

Bitcoin confirmation. When and how do I make a conformation of a sale. Do I receive a emaIl from you when I sell.
0
votes
1answer
39 views

Should we wait 10 minutes to confirm a transaction [duplicate]

I have read this proof of work calculation takes about 10 minutes. That mean people who are making the transaction should wait 10 minutes ? Let's imagine i want to buy a drink with bitcoin. The ...
0
votes
1answer
19 views

Blockchain transaction unspent [duplicate]

This is a bitcoin transaction as shown in a blockchain explorer. What does ‘2 confirmations’ mean here? Sorry for the picture quality. Which one is the best answer? 2 confirmations by miners are ...
59
votes
2answers
92k views

Can someone explain how the Bitcoin Blockchain works?

I'm trying to figure out how the blockchain works and how to read it via blockchain.info website. Is there a laymen way of explaining how the block chain works and how to read the blockchain to trace ...
12
votes
1answer
1k views

How do Bitcoin clients determine the number of confirmations a transaction has?

The protocol specification doesn't seem to address this.
1
vote
2answers
993 views

Does desktop wallet need to be online for the coins to mature?

Suppose, I've installed a new coin wallet, got synchronized with the network, now I've sent some coins to my wallet. Now, if I close my wallet (and stay offline), would it get maturity after X amount ...
2
votes
3answers
820 views

What happens if a monopoly grows in Bitcoin mining and payment processing?

What happens if a monopoly grows in Bitcoin mining and payment processing? Here is a scenario that I have been thinking about. Some big corporation, like the Bank of Amerika, decides that Bitcoin is ...
1
vote
3answers
2k views

Transaction marked as “Newly generated coins” on Blockchain.info

On blockchain.info I saw a transaction labeled as "No inputs (newly generated coins)". Are these new coins generated from mining? How come that such a transaction can have 30 confirmations, while ...
4
votes
1answer
286 views

Why do first bitcoin transactions receive most confirmations?

My very first Bitcoin transaction has 740 confirmations, the next have 239, 212, 70, 43, 5, and 5, respectively. Is this just because my first transaction has had more time to get more confirmations, ...
1
vote
2answers
738 views

What does it mean to have -1 confirmations?

I have -1 confirmations for an inbound transaction on my Electrum wallet. What does is it mean to have -1 confirmations?
0
votes
2answers
566 views

Pending transactions 0/3 [duplicate]

I sent bitcoin from my blockchain to my paxful and it says pending in my paxful history 0/3 confirm. Please what happened. And the bitcoin has left my blockchain wallet and it only showing unconfirmed ...