Imagine a Bitcoin giveaway with 1 BTC up for grabs. The host exposes the address and private key (a big no-no!). This creates a race condition:
• Many people try to send a transaction at once (the race starts!).
• Transactions need miner confirmation, not instantaneous processing. It's like waiting in line at a bank.
• Miners prioritize transactions with higher fees, like a fast lane with a toll.
• Person A starts first, but sets a low fee. Their transaction waits in the regular line.
• Person B sends a smaller amount with a high fee. They pay extra to jump the line.
• The block gets filled, and only transactions including Person B's smaller amount fit. It's confirmed first.
• Person A's transaction might still be valid, but there's not enough remaining to cover their intended amount + fees. They get a partial payout or nothing.
Conclusion:
Timing and fees, not starting order, determine the winner.
Source : Google Gemini
• Many people try to send a transaction at once (the race starts!).
• Transactions need miner confirmation, not instantaneous processing. It's like waiting in line at a bank.
• Miners prioritize transactions with higher fees, like a fast lane with a toll.
• Person A starts first, but sets a low fee. Their transaction waits in the regular line.
• Person B sends a smaller amount with a high fee. They pay extra to jump the line.
• The block gets filled, and only transactions including Person B's smaller amount fit. It's confirmed first.
• Person A's transaction might still be valid, but there's not enough remaining to cover their intended amount + fees. They get a partial payout or nothing.
Conclusion:
Timing and fees, not starting order, determine the winner.
Source : Google Gemini
Someone is going to be angry with this...
