Quote from: Gembul on November 21, 2016, 02:15:52 PM

Quote from: Daneric on November 21, 2016, 07:11:24 AM

I just thought about this today. Every time you are transacting with bitcoin, you will be told that you have to wait for bitcoin confirmation. This is common with bitcoin gambling sites. What I know is that bitcoin transactions are irreversible. Then why is it that you have to wait for the confirmation before initiating anything?

After a transaction is broadcast to the Bitcoin network, it may be included in a block that is published to the network. When that happens it is said that the transaction has been mined at a depth of 1 block. With each subsequent block that is found, the number of blocks deep is increased by one. To be secure against double spending, a transaction should not be considered as confirmed until it is a certain number of blocks deep.

maybe you can get more information from this article. https://en.bitcoin.it/wiki/Confirmation

Thanks for the link. A very good source of information. Indeed the confirmation of transactions is explained in detail.