mod_cure 2017-01-14 05:46:10
Anduck, ok miner with transaction 'b' and 'c' is the longest chain now, so it win.. double spend.. correct?
Anduck 2017-01-14 05:48:37
yes, but you don't need transaction C there
Anduck 2017-01-14 05:48:45
it's about blocks
Anduck 2017-01-14 05:49:09
just two different transactions spending the same coins. A or B wins, or neither
mod_cure 2017-01-14 05:50:02
Anduck, oic. so i don't need transaction 'c' because if miner that process B wins and its the longest chain.. it wins..
Anduck 2017-01-14 05:50:24
yes
mod_cure 2017-01-14 05:51:11
Anduck, wonder how often this happens ?
Anduck 2017-01-14 05:51:40
quite often. i don't have better estimate :p
mod_cure 2017-01-14 05:52:00
Anduck, isnt this a big concern then ? just learning
mod_cure 2017-01-14 05:53:16
Anduck, so the customer might want to receive more than 1 confirmation to prevent the double spending?
Pilate 2017-01-14 05:55:13
its recommended to wait 6? i believe
Pilate 2017-01-14 05:55:22
before considering it confirmed
mod_cure 2017-01-14 05:57:04
Pilate, If I buy coffee from a local shop that accepts bitcoin... I don't doubt he would wait for confirmation as it seems a confirmation could take up 10 minutes. hmmm just started learning bitcoin and I'm addicted now :) ....
mod_cure 2017-01-14 05:57:16
s/don't//
mod_cure 2017-01-14 05:59:28
what's a valid source to purchase bitcoins? I want to send transactions using bitcoin core to learn the entire process..
Pilate 2017-01-14 06:01:02
its just calculated risk mod_cure
Pilate 2017-01-14 06:01:09
there are ways to be more confident that it wont be double spent
calbasi 2017-01-14 06:01:13
mod_cure, you could use localcoins or coinbase
mod_cure 2017-01-14 06:02:53
Pilate, what are those ways?
mod_cure 2017-01-14 06:02:55
calbasi, thanks
Pilate 2017-01-14 06:03:59
if you have a huge number of peers that represent a large % of the network, and youre sure that all of those nodes have seen your tx before any other txs spending some coins, after a short time you can be relatively sure that there wont be a double spend
Pilate 2017-01-14 06:04:47
there are ways to fuck with that too but it takes more effort
mod_cure 2017-01-14 06:07:47
k
gmaxwell 2017-01-14 06:12:10
Pilate: thats not true.
gmaxwell 2017-01-14 06:12:24
Pilate: what nodes have a transaction is pretty unrelated to what gets mined.
gmaxwell 2017-01-14 06:12:45
because miners are just a couple nodes out of thousands, and ~none of the miners nodes are directly reachable.
gmaxwell 2017-01-14 06:13:16
but if it's coffee who cares? if someone rips you off you eat the loss, if they do it a bunch you'll reconize them and kick them out or call the police when they show up again.
gmaxwell 2017-01-14 06:13:28
which is basically the same deal on credit card payments.
