Why wait for several confirmations before shipping?


The general consensus in the Bitcoin network is to wait for 6 confirmations or 1 hour on a transaction before it can be considered completely irreversible. However, when it comes to altcoins that use different block generation rate, some people go with ~6 confirmations, while others use ~1 hour worth of blocks as the standard confirmation model.

I am wondering if there is any consensus on which approach is more proper? Assuming the altcoin network in question is under no threat of a 51% attack, should companies under a risk of theft attempts (say, exchanges) wait for about 6 confirmations regardless of the block generation rate, about 1 hour worth of confirmations also disregarding the generation rate, or for the higher of 6 of 1 hour worth of confirmations if blocks are generated slower than 1 block per 10...

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A package that contains a $200 piece of jewelry looks the same as one that contains a $10 piece. It's no more likely to be stolen. Just ship it.

If you are really uncomfortable about shipping without a signature, then ship with a signature requirement. If the buyer isn't at home when the package arrives, the carrier will leave a notice and they can pick it up at their Post office. That will probably aggravate them less than if you just back out of the transaction.

Canceling this transaction will put a defect point on your account, and just a few of those can get your account suspended. Delaying the shipment while you wait for the buyer's response will affect your "On time" shipping score.

All buyers have 100% feedback, since it's impressible for sellers to leave negative or neutral feedback for...

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Crypto: we require at least 3 confirmations before BTC (100 confirmations for ETH) are credited to your account. This can take anywhere between 1-24 hours, except for cases of unforeseen or unavoidable network issues. Bank transfer: payments can take up to 14 business days to reach our account - the exact time depends on bank processing. your card verification is still incomplete - if the verification has just been submitted - please allow our compliance team 15-20 minutes to process it. In case your application could not be approved right away our compliance team will inform you via email on what needs to be corrected. your card is verified, but the deposit requires clearing from financial officer due to compliance policies - this is an unusual case but if you encounter it - please contact our support team.


Crypto: please allow up to 1 hour (except for cases of unforeseen or unavoidable network issues) for the blockchain to pick up your...
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Every bitcoin transaction that's sent flows into what's called the mempool (short for memory pool) before it can be confirmed by miners. When there's a dramatic spike in transaction activity, the mempool can become congested because so many transactions are waiting to be included in the next block.

Bitcoin users across the network may notice their transactions sit as unconfirmed or pending for a longer period of time, and we understand this can cause users to be concerned about the status of their funds.

In most cases, your transactions will eventually confirm. It may just take longer than usual to do so.

Note: The Blockchain Wallet has an Advanced Send option that allows users to specify a custom fee and this can come in handy to help ensure your transaction confirms quickly during periods of congestion. We recommend this option to experienced users with an understanding of transaction fees...

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If you have sent a bitcoin payment in the last couple of weeks, you may have noticed that your transactions are taking much longer than expected to confirm.

We have received your emails.

Since, like the Bitcoin network, we are currently working through a backlog, we want to thank you for your patience. With the high volume of questions we're getting about delayed payments, we decided it would be best to write a short explanation about what's happening with many bitcoin transactions right now.

Transactions on the Bitcoin network itself aren't controlled or confirmed by BitPay, but by the bitcoin miners which group transactions into "blocks" and add those blocks to the Bitcoin "blockchain" – the shared historical record of all transactions. When a transaction has been added to a block six blocks ago, it's considered a done deal.

Currently, bitcoin network traffic is unusually high due to increasing demand for transactions per block. Block sizes are...

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You are confusing validation with confirmation.

When you spend / credit your card, VISA etc. validate you have the card and then send a signal back to the register saying "its all good, give the guy his coffee"

However, there is a 3 month period where the transaction could be reversed on a whim and the merchant would not actually receive the money for your coffee. This is called a chargeback.

Finally, after 3 months or so, the money is deposited to the coffee shop's account.

With bitcoin, you scan a qr code with Bitpay / Coinbase, and within 1-2 seconds a green check mark pops up saying "it's all good, you can give the guy his coffee"

However, if a person with enough technical ability, and the drive to steal a coffee wanted to put their mind to it, there are some ways that they can attempt to swindle the store with some custom wallet software or an accomplice who has administrator access to a large mining pool. Most of which are easy to detect...

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Это ваша лента, где вы будете проводить большую часть времени, получая мгновенные уведомления о том, что интересует именно вас.

Наведите на изображение профиля и нажмите кнопку чтения, чтобы перестать читать любую учетную запись.

Самый быстрый способ поделиться чьим-либо твитом с вашими читателями — ретвитнуть его. Нажмите значок со стрелочками, чтобы мгновенно сделать это.

Поделитесь своими мыслями о любом твите, просто ответив на него. Найдите тему, которая вам интересна, и вступайте в беседу.

Мгновенно узнавайте о том, что обсуждают люди прямо сейчас.

Читайте больше учетных записей, чтобы получать мгновенные обновления о том, что вас больше всего интересует.

Читайте самые последние беседы на любую тему, мгновенно появляющиеся в вашей ленте.

Следите за тем, как разворачиваются лучшие...

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The answer by Pranshu Agarwal, while very detailed, is not aligned precisely to this question.

The exact answer to the question is that one does not need to wait for 6 confirmations, and that it depends on the kind of transaction.

For practical purposes, one is free to consider a bitcoin transaction as valid as soon as it appears on the ledger. However, the greater number of confirmations grants better surety that the transaction is valid and the buyer is not trying to double spend.

Each subsequent confirmation makes the computational effort required to forge the contents of 51% of the distributed ledger that much higher; 6 confirmations is considered a practical limit after which the feasibility of such forgery becomes infinitesimally small (but never completely gone, mind you).

Bottom line is, the number of confirmations really depends on what one is exchanging against the coins somebody is sending them.

If you are selling cloud services, you...

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Hi @Rayhan_Kabir
This is normal, you need to wait for the transaction to be confirmed before it will be available. This generally takes about 30 minutes. Though the confirmation time can vary depending on what transaction fee was paid as well as how well the network is running.

If it says pending for any kind of extended period, let us know at support@coinbase.com and we can look into this further. Though often times delayed transactions coming from outside Coinbase will need to be looked into by the originating sender. As it's often difficult for us to know the exact status of all transactions outside Coinbase. Sometimes the transaction can change in some way due to being rebroadcast by the other wallet or service. This will cause transactions to remain pending for extended periods.

Delays are common when the network is experiencing excessive load like we saw during the recent spam attacks. Though you should be fine as of...

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Please note that Xapo does not control how quickly transactions are confirmed on the blockchain. Transactions to other Xapo accounts are processed immediately, as they do not need to reach the blockchain.

When transactions are sent from Xapo to a non-Xapo account, the transaction is immediately sent as soon as it is made and Xapo always include miner's fees so that these transactions get picked up quickly. Once this is done, it is up to the blockchain to see how long a transaction takes to get mined!

However, when sending a transaction into Xapo, we can tell you that it is always consistent in the fact that Xapo will always wait for a transaction to have 6 confirmations on the blockchain before it is no longer 'pending' and is marked as 'complete' and ready to...

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If you’re reading this post I assume that like many others, you sent a bitcoin transaction and was kind of confused as to why it’s still listed as “unconfirmed” or “pending” after a few hours or so.

I mean Bitcoin transactions are supposed to be instant right?

In this post I want to try and explain in a very basic way how a Bitcoin transaction works and why the fee that you attach to each transaction has a crucial role in how long it will take the transaction to go through the network.

Here’s what happens when you send Bitcoins to someone

Whenever you send someone Bitcoins, the transaction goes through different computers running the Bitcoin protocol around the world that make sure the transaction is valid. Once the transaction is verified it then “waits” inside the Mempool (i.e. in some sort of a “limbo” state).

It’s basically waiting to be picked up by a Bitcoin miner and entered into a block of transaction on the Blockchain. Until it is picked...

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LCL (Less than Container Load): International shipping of boxed, crated and/or palletized cargo.

1. What is an LCL - Less Than Container Load? What can and cannot be shipped as LCL?

2. What are my options on Self-delivery and Pickup?

3. How does it work? What should I expect on my international LCL shipment step by step?

4. Why should I pay the 75% security deposit?

5. Where can I find an address for the international shipping terminal to deliver my boxes?

6. What does Sea freight Express Release Bill of Lading mean?

7. Can I amend my Sea freight Bill of Lading?

8. What is a Cubic Meter and W/M – weight or measurement?

9. Should I palletize my boxes?

10. Can I get insurance on my goods?

11. Do you guarantee transit time on my international shipment?

12. Are there any hidden costs in your quote?


12B. What is SED?

13. Can I arrange an international...

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Timing, Shipping Method, and Email Confirmations

As soon as your order is placed, you will receive a confirmation email. If your order is for wildflower seeds, seed packets or vegetable seeds only, it will usually be shipped within 5 business days. We use either FedEx Ground or USPS, depending on weight and address. You will receive a second email the day your order ships, telling you how it has been sent. If you would like Express or overnight shipping, please either email Customer Service, or call toll free (877) 309-7333 during business hours (Monday-Friday 9am to 7pm, EST and Saturday 9am-5pm, EST).

If your order requires more than one shipment and all items are shipping to the same address, there is no additional shipping charge.

Shipping Schedule for Wildflower Seeds & Seed Packets

Most orders ship within 48 hours.

Shipping Schedule for Spring-Planted Bulbs and Perennials

Now Shipping All Orders Within 5 Business Days.

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For what seemed like weeks straight, my Facebook news feed was flooded with ads for a women’s fashion website called Rosegal.com. The website promises adorable sweaters for about $20, dresses for as low as $10 and earrings for $0.68.

Placing the Order

I took a leap and placed an order for a $42 hooded coat (below), which I had been meaning to buy for weeks. Although, Rosegal’s website says it is trusted, I used PayPal to complete my payment. If the option is there, and you have an inkling of self-doubt, do what feels right. This portion was straightforward. I paid and waited.

This is what I ordered:

The Order Process

I placed the order on Nov. 2 and got all the typical email confirmations and an order number. The next day on Nov. 3, I was notified that my order had shipped and was given a new reference number. It said the package would take 12-25 days to arrive.

“However, please understand this is an estimate. The shipping speed is...

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