long will she have to wait? However, it is possible (although rare) for the last n blocks to be orphaned in a reorganization. However, the block-creation (or mining) process is random and each block may take much longer or shorter. How Bitcoins are Transferred, recall that if Alice owns some quantity of bitcoins, this really means she knows one or more cryptographic keys which have been designated as the controller of those coins in a transaction on the ledger which transferred the coins to Alice. The important takeaway though is that there is no absolute notion of permanently included and the community simply uses a reasonably safe policy of considering transactions confirmed when they are included with very high probability. It is append-only, meaning new data can be added to the end of the ledger, but data can never be removed once included. The miners who maintain the blockchain will only include this transaction if Alice has not yet transferred the coins to anybody else, so once Bob sees the transaction appear in the blockchain he can be confident that he is the new owner. In practice, the community has adopted 6 blocks as a standard confirmation period. You can unsubscribe with one click. (Moderator: hilariousandco ) Author, topic: Bitcoin transaction taking too long ;-; solved (Read 198 times).
When you make a Bitcoin transaction, you need to go through 6 confirmations before you.
How long does it take to confirm a Bitcoin transaction?
Bitcoin transaction times vary and can take anywhere from 10 minutes to over 1 day.
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Bitcoin transaction taking too long ;-; solved.
One email a day for 7 days, short and educational, guaranteed. For the latest on policy and regulation relating to cryptocurrencies like Bitcoin, see what we're doing to protect your right to innovate with cryptocurrencies. Now, suppose Alice signs a statement on her own computer saying she wants to transfer some coins to Bob but never sends the statement to Bob. We hate spam as much as you. How Long Does 6 Blocks Take? frequently in popular descriptions of Bitcoin and in the user interfaces of wallet software, a distinction is made between confirmed and unconfirmed transactions. To track how many confirmations need to confirm your transfer you can check it here: fo/ just provide a transaction hash and you will the whole process there and more useful information. Even with only 1 confirmation (accepting a transaction once it is included in the most recent block in the chain) the risk of losing it to a reorganization is low (1-2) and even then it will probably be re-included after the reorganization occurs. You are at: Home fAQ basic Questions »Why is My Bitcoin Transaction Pending for So Long? Put another way, the blockchain is a series of n blocks (currently almost 400,000 and at any given time the most recent several blocks are not guaranteed to be permanently included.