Why the transaction of Bitcoin to be confirmed two times?

Ringerro
Posts: 4
Joined: Thu Apr 27, 2017 5:23 am

Why the transaction of Bitcoin to be confirmed two times?

Thu Apr 27, 2017 8:22 am

Why the transaction of Bitcoin to be confirmed two times? What is your analysis about this, have you made a transaction without sitting tight for confirmation?
bert
Posts: 78
Joined: Sat Apr 08, 2017 10:46 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Thu Apr 27, 2017 8:32 am

A transaction is not yours until its confirmed and can be easily double spent - causing you lose your money. To be precise:

- an unconfirmed transaction = very high chances of double spending
- one confirmation = low chances of double spending
- double confirmation = impossible to double spend

hope this helps.
alton
Posts: 120
Joined: Sat Apr 08, 2017 10:42 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Tue Aug 29, 2017 4:43 am

this twice confirmation system is to avoid double spending and loss of money, because it confirms that the transaction is done by you!
alton
Posts: 120
Joined: Sat Apr 08, 2017 10:42 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Tue Aug 29, 2017 1:07 pm

this twice confirmation system is to avoid double spending and loss of money, because it confirms that the transaction is done by you!
azimiballer
Posts: 171
Joined: Wed May 03, 2017 7:31 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Tue Aug 29, 2017 1:08 pm

just to make sure the transaction is being done by you so that you don't lose money, as a result of double spending.
bain
Posts: 117
Joined: Tue Apr 25, 2017 5:24 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Tue Aug 29, 2017 1:09 pm

what is meant by double spending here?
axel
Posts: 84
Joined: Sat Apr 08, 2017 10:45 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Tue Aug 29, 2017 1:09 pm

bain! It Is when you make transaction with same bitcoin address u used previously.
itsbriskbaby
Posts: 131
Joined: Wed May 03, 2017 7:34 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Fri Sep 08, 2017 8:41 am

Because It is to be the security purpose
CookiesSuck
Posts: 127
Joined: Wed May 03, 2017 7:36 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Fri Sep 08, 2017 8:41 am

Bitcoin is a huge platform that’s why it need confirmation security that you received or not.
paranoidGlitch
Posts: 256
Joined: Wed May 03, 2017 7:38 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Fri Sep 08, 2017 8:42 am

Not in the case of bitcoin but every technology and even connection that we are using required a confirmation code
wontonNoodle
Posts: 119
Joined: Wed May 03, 2017 7:41 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Fri Sep 08, 2017 8:42 am

An exchange is not yours until the point when its affirmed and can be effortlessly twofold spent that’s why it required double confirmation
mrShakehands
Posts: 123
Joined: Wed May 03, 2017 7:43 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Fri Sep 08, 2017 8:43 am

this twice affirmation framework is to maintain a strategic distance from twofold spending and loss of cash, since it affirms that the exchange is finished by you!
hellGrinder
Posts: 213
Joined: Wed May 03, 2017 7:45 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Fri Sep 08, 2017 8:44 am

just to ensure the exchange is being finished by you with the goal that you don't lose cash, because of twofold spending.
abbot
Posts: 123
Joined: Sat Apr 08, 2017 7:39 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Fri Sep 08, 2017 8:44 am

Ca you explain or clear the meaning of double spending?
ace
Posts: 193
Joined: Mon Apr 10, 2017 10:46 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Fri Sep 08, 2017 8:45 am

Double spending means that the strong security (the transaction you are doing is really you or someone else)
adair
Posts: 92
Joined: Tue Apr 25, 2017 5:20 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Fri Sep 08, 2017 8:45 am

I don’t know about that one.
alfie
Posts: 101
Joined: Sat Apr 08, 2017 10:42 am

Re: Why the transaction of Bitcoin to be confirmed two times?

Fri Sep 08, 2017 8:45 am

Because it saves your money although isn’t a time consuming but be strong feature that bitcoin have

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