Unconfirmed Transaction Are not Secure

[BitcryptoHan 2557]

On 7/15/2020 at 2:51 PM, Ridam said:

Nice information about the confirmation and 6 confirmation should be considered as the factor before dealing with anyone with the Crypto. As there is no chance of  transaction for being reversed if the transaction goes more than 4 confirmation. So we should also go for medium fee available for the best to get transaction verified faster by the miners.

It also depends, if I have $1 btc transaction, I will prefer the whole (full) confirmation, if I have 0.1 btc of transaction, I can accept 6 information, if I have 0.001 btc transaction, I can accept 1 confirmation. But I can not accept 0 confirmation, so easy to divert. 

[Yomose 3704]

On 7/21/2020 at 11:29 AM, BitcryptoHan said:

It also depends, if I have $1 btc transaction, I will prefer the whole (full) confirmation

You meant 1 bitcoin right not $1. 

You are very right but as for me, irrespective of the transaction amount, I will prefer full confirmation. Full confirmation means your coin is already mined and nothing can reverse it. 

[BTC Future 3946]

On 7/24/2020 at 2:56 PM, Yomose said:

You meant 1 bitcoin right not $1. 

You are very right but as for me, irrespective of the transaction amount, I will prefer full confirmation. Full confirmation means your coin is already mined and nothing can reverse it. 

Yeah probably he meant 1 BTC. I get his point too. 1 confirmation might be rare for a double spent but possible. Zero confirmations is like asking for trouble. Bitcoin is not instant transfer of money. At least not yet but with the Lightning Network this will change.

[BitcryptoHan 2557]

On 7/24/2020 at 12:56 PM, Yomose said:

You meant 1 bitcoin right not $1. 

You are very right but as for me, irrespective of the transaction amount, I will prefer full confirmation. Full confirmation means your coin is already mined and nothing can reverse it. 

I took like such full confirmations, there are some wallets that will immediately increase the the balance even with no confirmation yet, this can get someone confused and think the transactions is successful which can be replaced by fee. 

[gourav789 2834]

yeah , I also see some YouTube videos there creater show how we can complete our pending transcation . 

this is true that bitcoin transcation is irreversible , but how this type of problems is happen , hopefully in future this maybe fixed .

[Leandrel 3]

Yes unconfirmed transaction is not secure

[DiamondBit 720]

Like said, the transaction is not secure,  I can be reversed back to the person that sent it, I have even true it be for us in two wallets to test it, it works well and it is trued. I only accept mined transactions which is the best and the safest. 

[Humberto Alvarez 11]

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[mithhumia 33]

Sure to be able to protected the particular purchase we need atleast 1 proof just before we all have the equilibrium put into the account inside exchanges, casino web sites, and so forth.

Which is i do believe simply perform inside blockchain in lightning community i do believe purchase not necessarily according to miner once more.

Furthermore for a few internet site specifically casino web sites they will acknowledge 0 proof downpayment. As an example 999dice, they've got quick downpayment together with 0 proof, it is possible to enjoy the particular casino at the earliest opportunity. Yet once you distance themself they want 1 proof initial within your downpayment. I do believe which is just like identical notion, yet convenient and so the consumer will not hold out number of years any time downpayment.

[Afran_025 26]

It is well known that unconfirmed transaction are not safe because of the risk of double spend.Imagine if the owner of the coin weren't able to use his private key more than once,then he would not be able to create another conflicting spend .We cannot take this ability away from him ,however we can try to create a strong incentive not to sign a conflicting transaction..

[Yomose 3704]

Let us take the latest version of electrum, version 4.0.4 as an example, transactions that have not been confirmed yet can be reversed on the electrum wallet using the rbf function inorder not to pump for faster transaction alone but to also reversed the transaction is wanted to.  

[GanBin 705]

Why would unconfirmed transaction be secure, when it is not yet introduced into the blockchain, only bitcoin in the blockchain are secure, in which it will have at least 1 confirmation.

[SuperCrypto 7193]

Bitcoin transfers are instantaneous, but in order to ensure that there is no fraud, you need to confirm the transaction in the Bitcoin network. To help confirm the transaction faster, you have to rely on the higher transaction fees that you set for this transaction.

[teebasas 3018]

I have heard that unconfirmed transactions can be reversed back after transaction, but I have not try it even once, so definitely it won't be okay for you not waiting for your transaction to confirm.

[Moudr 513]

Greetings to you and your topic requires people with great experience to respond to it, but I think that this year the payments system in the Bitcoin network was updated and the operations are proceeding quickly and quickly than they were two years ago.

[kryptonick 2659]

Unconfirmed means there is not a single confirmation, which in turn means the transaction isn't selected in any valid block of the blockchain. There is the rule of six confirmation but some services accept even zero confirmations for the transaction. This is dangerous as there could be a double spending which is also not certain so there is very limited chance of double spending on purpose.

[Tubaa 23]

It seems Bitcoin network will be overloaded with such transactions with lower fees. Miners always give priority for transactions with the higher fees which is not included in a block to grant that as the confirmed one.  This way miners will be able to steal any funds, they might either reject transactions or keep unconfirmed for sometimes. Also they can cancel their transactions at any time and they make a scam with us

[RoyalHouse01 9]

I have noticed two things firstly there is possibility of reversing the transaction some of the times and in some of the coins like the trust wallet and the eth coin, so in the same way the btc maybe be possible and the second is the miner can reject your transaction if the fee is too low.

[Abrar1122 10]

I have heard that there are some scammers or hackers or the technology experts who can cancel the unconfirmed transactions and steal your money