Post
Topic
Board Bitcoin Discussion
Re: Why Should people wait for confirmation of Bitcoin?
by
ukasyah
on 30/11/2016, 04:09:05 UTC
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?

Even though the possibility of a double spend is very low, some small rest of risk always exists.
That's why we are told to wait for confirmation.If however you have 100% trust to your other party, because you know him for many years and everything always went smooth and fine you don't need to wait of course.

did you mean that we do not need to wait if we send our coins to someone we know for years and we trust him almost 100%? so how do we send those coin without taking too long for waiting? how could it be? probably you can give some explanation or tutorial because I think another OP's purpose asking that question is he wants to know whether any other way to send coins without waiting. cmiiw.