Post
Topic
Board Bitcoin Discussion
Re: why bitcoin transactions require some confirmation?
by
Xester
on 05/03/2017, 09:41:31 UTC
please confirm bitcoin explanation for the problem? Smiley

Bitcoin transactions require some confirmation so as to avoid double spending. Double spending means that the same amount is sent twice. Many have been a victim of double spending before and many merchants have already sent their items without knowing that what they received is a double spent bitcoin rendering  it valueless. Thus confirmation is needed as a protection for the buyers and receivers of bitcoin.