BTC confirmation duration

1. When you transfer bitcoin to fire coin, how long it will arrive at the account is decided by the transferor. Generally, it is normal to arrive at the account within one hour and within 24 hours.

2. Bitcoin receives payments almost instantaneously. However, there is an average delay of 10 minutes before the network starts adding your transaction to a block to confirm the transaction and that you can use the received bitcoin. Confirmation means that there is a consensus on the Internet that the bitcoin you receive is not used to pay others, so it is recognized as your property. Once your transaction is included in one block, all subsequent blocks will include it, which will greatly consolidate this consensus and rece the risk of transaction cancellation. Each user can determine the time when the transaction is confirmed, but generally speaking, receiving six confirmations is as safe as waiting six months after a credit card transaction
anyone can become a bitcoin miner by running software on specialized hardware. mining software monitors transaction broadcast through P2P network and performs appropriate tasks to process and confirm these transactions. Bitcoin miners can earn transaction fees paid by users to speed up transaction processing and additional bitcoin issued according to fixed formula

new transactions need to be included in a block with mathematical workload proof before they can be confirmed. This kind of proof is hard to generate because it can only be generated by trying billions of calculations per second. Miners need to run these calculations before their blocks are accepted and rewarded. As more people start mining, the difficulty of finding effective blocks will be automatically increased by the network to ensure that the average time to find a block remains at 10 minutes. Therefore, the competition for mining is very fierce, and no indivial miner can control the content contained in the block chain
workload proof is also designed to rely on previous blocks, which forces the time sequence of block chain. This design makes it extremely difficult to cancel previous transactions, because the workload proof of all subsequent blocks needs to be recalculated. When two blocks are found at the same time, the miner will process the first block received, and once the next block is found, it will be transferred to the longest block chain. This ensures that the mining process maintains a global consistency based on processing capacity
bitcoin miners can neither increase their rewards by cheating, nor deal with the fraulent transactions that destroy the bitcoin network, because all bitcoin nodes will reject the blocks containing invalid data that violate the bitcoin protocol rules. Therefore, even if not all bitcoin miners can be trusted, the bitcoin network is still secure
if you still don't understand, go to bitcoin home to see the deeper understanding of netizens.

3. It seems to take half an hour to an hour. Generally, one confirmation is enough, but some platforms need three to five confirmations.

4. If you want to ensure the irreversibility of the transaction, you have to wait for six data blocks to be fully confirmed, which takes at least one hour to confirm.

5.

Yes, very much

let's take an example:

get up a little hungry in the morning and go out to buy a pancake to eat

the pancake seller said: 0.000001 bitcoin, please pay

You say: OK. 0.000001 bitcoin has been paid, please confirm

After

1 minute: please confirm

After

2 minutes: please confirm

After

3 minutes: please confirm

After

10 minutes: please confirm

As a result, the boss finally confirmed

just now, because your blockchain fork is confirmed to be invalid, the transaction was unsuccessful. Please pay 0.000001 bitcoin again

you said: mlgb, it's too hard. But I have already eaten it. I can't help it. Pay again. Please confirm

After

1 minute: please confirm

After

2 minutes: please confirm

After

3 minutes: please confirm

After

10 minutes: please confirm

As a result, the boss finally confirmed

just now, because your blockchain fork is confirmed to be invalid, the transaction was unsuccessful. Please pay 0.000001 bitcoin again

you say: boss, I'm wrong. Shall I spit out the pancakes for you

So it can't be used

At present, everyone is short selling

Write an article tomorrow and tell us about it. See my blog: Tech help - Xiaocui says blockchain: how does bitcoin's Curse of wealth justify itself

6. Generally, only the payee can return bitcoin after 24 hours. Any bitcoin transaction is irreversible and can only be returned by the payee.

7.

Transaction mode of bitcoin

bitcoin is e-cash similar to e-mail, and both parties need "bitcoin wallet" similar to e-mail and "bitcoin address" similar to e-mail address. Just like sending and receiving e-mail, the remitter pays bitcoin directly to the other party through a computer or smart phone according to the recipient's address. The following table lists some websites that download bitcoin wallets and addresses for free

a bitcoin address is a string of about 33 characters long, consisting of letters and numbers, always starting with 1 or 3, such as & quot& quot; Bitcoin software can generate address automatically, and it doesn't need to exchange information online, so it can be offline. More than 2 bitcoin addresses are available. Figuratively speaking, there are about two grains of sand in the world. If there is an earth in each grain of sand, then the total number of bitcoin addresses far exceeds the number of all the sand on all these "earths"

the bitcoin address and private key appear in pairs, and their relationship is just like the bank card number and password. A bitcoin address is like a bank card number, which records how much bitcoin you have on it. You can generate bitcoin address at will to store bitcoin. When each bitcoin address is generated, a corresponding private key of the address will be generated. This private key proves that you have ownership of the bitcoin at that address. We can simply understand the bitcoin address as the bank card number, and the private key of the address as the password of the corresponding bank card number. Only when you know the bank password can you use the money on the bank card number. Therefore, please keep your address and private key when using bitcoin wallet

after the transaction data of bitcoin is packaged into a "data block" or "block", the transaction is initially confirmed. When a block is linked to a previous block, the transaction is further confirmed. After six block confirmations in a row, the transaction was irreversibly confirmed. Bitcoin P2P stores all transaction history in a "blockchain.". The blockchain continues to extend, and once new blocks are added to the blockchain, they will not be removed. Blockchain is actually a distributed database composed of a group of scattered client nodes and all participants, which is a record of all bitcoin transaction history. Nakamoto predicts that when the amount of data increases, users hope that not all the data will be stored in their own nodes. In order to achieve this goal, he uses the hash function mechanism. In this way, the client will be able to automatically eliminate those parts that it will never use, such as some very early bitcoin transactions

8. Almost instantly to the account, this problem may be delayed, you refresh the page, it may also be not closed, your order is still in the Commission

9. Radar coin will, bitcoin did not encounter this situation!

10. No, the transaction that belongs to you, that is, your utxo will be saved to your bitcoin wallet file, and each payment will be found from your wallet database. If you lose the contents of your wallet, you can use your key information to access the service node to retrieve your utxo. If you lose the key, don't worry.