Post
Topic
Board Bitcoin Discussion
Re: Aug 1 summary
by
JayJuanGee
on 06/08/2017, 20:37:11 UTC
We had to wait for 3 confirmations before august 1st.

I had a transaction yesterday from Gdax to Gemini and I had to wait for 6 confirmations.

Is it only Gemini or all exchanges wait for 6 confirmations?

I just waited on 6 confirmations with KRAKEN as well.

Thank you Danny. It sucks because I got 3 confirmations in 20 minutes but 6 confirmations take about an hour and half.

I hope they will go back to 3 confirmations again.

Yes agree, 3 confirm's would be nice.. my 6 confirm's took 60 min. on Kraken.


I think that some exchanges changed their number of confirmation policy during this period of uncertainty - and while there seems to be a hardforker attack upon the bitcoin network.  Bitfinex, for example went up to 7 confirmations, but states that they plan to return to lower confirmations in the future.  I cannot remember what their previous requirement was.

Some of the exchanges may return to fewer number of required confirmations when they feel more comfortable that replay attacks are not as likely (as such replay attacks may have seemed to be more likely during the hardforking transitional period).