Hello all,
To preface, I am a newb
Can someone explain to me how unsafe unconfirmed transactions are please? What is the vulnerability? I have very little experience in this arena, but it seems like some sites (luckybit) can take an unconfirmed transaction and let you bet it on a drop, and other sites require a similarly small transaction to be confirmed.
Why?
To preface, I am a newb
Can someone explain to me how unsafe unconfirmed transactions are please? What is the vulnerability? I have very little experience in this arena, but it seems like some sites (luckybit) can take an unconfirmed transaction and let you bet it on a drop, and other sites require a similarly small transaction to be confirmed.
Why?
Hi Istaria.
I'm moderator at luckybit. we don't wait always for 1 confirmation to play your bets, most of the bets will play instant.
The problem of unconfirmed transactions is the double spend bitcoins, when a user do a double spend only one of the 2 transactions get confirmations.The engine have a system to avoid this, and that is why some times you need to wait more for your bets.
If you use blockchain wallet to bet, you will be able to bet unconfirmed btc, but some times the site wait the past transactions get a confirmations before play the bet.
If you have any other question about the site, please send a mail to support@luckyb.it