Post
Topic
Board Wallet software
Re: Proton launches self-custody bitcoin wallet
by
Pmalek
on 05/11/2024, 08:43:24 UTC
Here's the response from Proton Wallet's technical support.
It's clear from their customer support reps' reply that they are quite new to Bitcoin and how it works. Anastasija tells you that, on average, it takes one hour for a bitcoin transaction to be confirmed. That's not correct. She probably thought of transaction finality. Many sources have claimed throughout the years that a bitcoin transaction requires 6 confirmations to be considered final and irreversible. Assuming that, on average, a new block is found every 10 minutes, a bitcoin transaction will reach finality in one hour, but the first confirmation, on average comes after 10 minutes assuming that high-enough fees were spent.