Post
Topic
Board Beginners & Help
Re: Why some platforms need X confirmations?
by
ATguy
on 27/11/2015, 10:42:30 UTC
If bitcoin transactions are irreversible, why some platforms (online wallets, exchanges, etc) need X confirmations to "validate" a transaction?


As others said it is to counter the risks of possible double spend. But the risk is only if you deliver some instant service, and if you sending the goods physically or generally deliver non instant service then you dont need confirmations because you simply cancel the order once you detect double spend.