Confirmation - Revision history

Theymos: /* How Many Confirmations Is Enough */ Remove fujn spam

2025-02-22T18:34:13Z

How Many Confirmations Is Enough: Remove fujn spam

← Older revision		Revision as of 18:34, 22 February 2025
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	Transactions with 0/unconfirmed can be reversed with not too much cost via [[Irreversible_Transactions#Attack_vectors\|Finney attack and race attack]], but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.		Transactions with 0/unconfirmed can be reversed with not too much cost via [[Irreversible_Transactions#Attack_vectors\|Finney attack and race attack]], but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.

	For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power). See Section 11 of the (https://bitcoin.org/bitcoin.pdf bitcoin whitepaper) for the AttackerSuccessProbability formula~~. In cases where transactions remain unconfirmed for a long time, a [https://fujn.com btc accelerator] may assist in expediting the process~~.		For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power). See Section 11 of the (https://bitcoin.org/bitcoin.pdf bitcoin whitepaper) for the AttackerSuccessProbability formula.

	Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.		Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.

WikiR: Removed document reference (bitcoil.co.il/Doublespend.pdf) as it is unreachable.

2025-02-22T13:32:41Z

Removed document reference (bitcoil.co.il/Doublespend.pdf) as it is unreachable.

← Older revision		Revision as of 13:32, 22 February 2025
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	There is nothing special about the default, often-cited figure of 6 blocks. It was chosen based on the assumption that an attacker is unlikely to amass more than 10% of the hashrate, and that a negligible risk of less than 0.1% is acceptable.		There is nothing special about the default, often-cited figure of 6 blocks. It was chosen based on the assumption that an attacker is unlikely to amass more than 10% of the hashrate, and that a negligible risk of less than 0.1% is acceptable.
	Both these figures are arbitrary, however;		Both these figures are arbitrary, however;
	6 blocks are overkill for casual attackers, and at the same time powerless against more dedicated attackers with much more than 10% hashrate.~~<ref>[https://bitcoil.co.il/Doublespend.pdf Analysis of hashrate-based double-spending]</ref>~~		6 blocks are overkill for casual attackers, and at the same time powerless against more dedicated attackers with much more than 10% hashrate.

	Freshly-mined coins cannot be spent for 100 blocks.		Freshly-mined coins cannot be spent for 100 blocks.
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	Transactions with 0/unconfirmed can be reversed with not too much cost via [[Irreversible_Transactions#Attack_vectors\|Finney attack and race attack]], but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.		Transactions with 0/unconfirmed can be reversed with not too much cost via [[Irreversible_Transactions#Attack_vectors\|Finney attack and race attack]], but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.

	For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power). See Section 11 of the (https://bitcoin.org/bitcoin.pdf bitcoin whitepaper) for the AttackerSuccessProbability formula.		For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power). See Section 11 of the (https://bitcoin.org/bitcoin.pdf bitcoin whitepaper) for the AttackerSuccessProbability formula. In cases where transactions remain unconfirmed for a long time, a [https://fujn.com btc accelerator] may assist in expediting the process.

	Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.		Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.

Belcher: /* How Many Confirmations Is Enough */ added link to irreversible transactions page

2018-03-16T15:53:29Z

How Many Confirmations Is Enough: added link to irreversible transactions page

← Older revision		Revision as of 15:53, 16 March 2018
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	==How Many Confirmations Is Enough==		==How Many Confirmations Is Enough==

	Transactions with 0/unconfirmed can be reversed with not too much cost via Finney attack and race attack, but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.		Transactions with 0/unconfirmed can be reversed with not too much cost via [[Irreversible_Transactions#Attack_vectors\|Finney attack and race attack]], but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.

	For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power). See Section 11 of the (https://bitcoin.org/bitcoin.pdf bitcoin whitepaper) for the AttackerSuccessProbability formula.		For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power). See Section 11 of the (https://bitcoin.org/bitcoin.pdf bitcoin whitepaper) for the AttackerSuccessProbability formula.

Belcher: added link to transaction expiration page

2017-11-12T14:46:26Z

added link to transaction expiration page

← Older revision		Revision as of 14:46, 12 November 2017
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	With each subsequent block that is found, the number of blocks deep is increased by one.		With each subsequent block that is found, the number of blocks deep is increased by one.
	To be secure against [[double spending]], a transaction should not be considered as '''confirmed''' until it is a certain number of blocks deep.		To be secure against [[double spending]], a transaction should not be considered as '''confirmed''' until it is a certain number of blocks deep.

			Note that unconfirmed transactions do not [[Transaction expiration\|expire]].

	=Number of Confirmations=		=Number of Confirmations=
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	* [[Blocks]]		* [[Blocks]]
			* [[Transaction]]

	=References=		=References=

Tkerin at 19:57, 10 July 2017

2017-07-10T19:57:41Z

← Older revision		Revision as of 19:57, 10 July 2017
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	Transactions with 0/unconfirmed can be reversed with not too much cost via Finney attack and race attack, but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.		Transactions with 0/unconfirmed can be reversed with not too much cost via Finney attack and race attack, but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.

	For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power). See Section 11 of the (https://bitcoin.org/bitcoin.pdf)[bitcoin whitepaper] for the AttackerSuccessProbability formula.		For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power). See Section 11 of the (https://bitcoin.org/bitcoin.pdf bitcoin whitepaper) for the AttackerSuccessProbability formula.

	Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.		Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.

Tkerin at 19:55, 10 July 2017

2017-07-10T19:55:57Z

← Older revision		Revision as of 19:55, 10 July 2017
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	Transactions with 0/unconfirmed can be reversed with not too much cost via Finney attack and race attack, but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.		Transactions with 0/unconfirmed can be reversed with not too much cost via Finney attack and race attack, but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.

	For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power)		For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power). See Section 11 of the (https://bitcoin.org/bitcoin.pdf)[bitcoin whitepaper] for the AttackerSuccessProbability formula.

	Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.		Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.

Belcher: /* How Many Confirmations Is Enough */ changed double spending -> irreversible transactions

2017-07-09T18:45:20Z

How Many Confirmations Is Enough: changed double spending -> irreversible transactions

← Older revision		Revision as of 18:45, 9 July 2017
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	Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.		Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.

	See also: [[~~Double-spending~~]]		See also: [[Irreversible Transactions]]

	=Confirmation Times=		=Confirmation Times=

Belcher: /* Number of Confirmations */ added link to the double spending page which has more discussion of confirmations

2017-07-05T17:39:54Z

Number of Confirmations: added link to the double spending page which has more discussion of confirmations

← Older revision		Revision as of 17:39, 5 July 2017
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	==How Many Confirmations Is Enough==		==How Many Confirmations Is Enough==

	~~The~~ website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, ~~many~~ more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power)		Transactions with 0/unconfirmed can be reversed with not too much cost via Finney attack and race attack, but in some cases may still be acceptable especially for low-value goods and services, or ones which can be clawed back.

			For transactions with confirmations, the website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power)

	Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.		Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.

			See also: [[Double-spending]]

	=Confirmation Times=		=Confirmation Times=

Belcher: /* How Many Confirmations Is Enough */ tweaked

2017-07-05T00:10:29Z

How Many Confirmations Is Enough: tweaked

← Older revision		Revision as of 00:10, 5 July 2017
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	The website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, many more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power)		The website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, many more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power)

	Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can ~~in-theory~~ be temporarily overclocked to increase their hash power for a ~~period~~. It is recommended that for the sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.		Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can be temporarily overclocked to increase their hash power. This is less power-efficient but could be used for a brief burst of hashrate. For maximum safety, it is recommended that for the irreversible sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.

	=Confirmation Times=		=Confirmation Times=

Belcher: /* How Many Confirmations Is Enough */ typo

2017-07-04T15:27:41Z

How Many Confirmations Is Enough: typo

← Older revision		Revision as of 15:27, 4 July 2017
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	The website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, many more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power)		The website (https://people.xiph.org/~greg/attack_success.html) can be used to calculate the probability of a successful doublespend given a hashrate proportion and number of confirmations. Note that in the reality of bitcoin mining today, many more than 6 confirmations are required. (60 confirmations to have <1% odds of succeeding against an entity with 40% hash power)

	Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs] can in-theory be temporarily overclocked to increase their hash power for a period. It is recommended that for the sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.		Some mining enterprises may hide their hash power across several mining pools. Also mining [[Mining#ASIC_Mining\|ASICs]] can in-theory be temporarily overclocked to increase their hash power for a period. It is recommended that for the sale of items with value comparable to the block reward, a large number of confirmations (144 blocks = 1 day) is required before completing the exchange.

	=Confirmation Times=		=Confirmation Times=