How many days is bitcoin transaction confirmed

1. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. According to the idea of Nakamoto, the open source software is designed and released, and the P2P network on it is constructed. Bitcoin is a virtual encrypted digital currency in the form of P2P. Point to point transmission means a decentralized payment system. Unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of money circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity

warm tips:
1. According to the notice and announcement issued by the people's Bank of China and other departments, virtual currency is not issued by monetary authorities, does not have monetary attributes such as legal compensation and compulsion, is not a real currency, does not have the same legal status as currency, and cannot and should not be used as currency in the market, Citizens' investment and transaction of virtual currency are not protected by law
2. Before you invest, it is recommended that you first understand the risks of the project, and understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistaking into the capital market
3. The above explanation is for reference only. Investors should not use such information to replace their independent judgment or make decisions only based on such information, which does not constitute any investment operation
response time: February 5, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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2. You may have been delayed in bitcoin transactions. For this reason, okcoin makes the following explanation on the concerns and doubts of users
methods / steps
1 bitcoin network is a global P2P network, which is jointly maintained by all the nodes (which can be understood as computers) accessing the network. On average, the global network (not a company or an indivial) will confirm the transaction once every 10 minutes. According to the network rules, the bitcoin received by the user needs to be confirmed six times (that is, one hour) before it can be used by the user to pay again
2 recently, bitcoin's arrival speed is slow, because there are too many transactions in the whole bitcoin network, and the block capacity is close to the upper limit, resulting in the congestion of bitcoin network, and slowing down the confirmation of bitcoin on major trading platforms. This is determined by the characteristics of bitcoin network itself and is not controlled by the trading platform
3 generally speaking, if the transaction is not confirmed by the bitcoin network for more than 3 days, bitcoin will be returned. Unconfirmed bitcoin will not disappear, please don't worry. This process is determined by the characteristics of bitcoin network itself, and the trading platform cannot intervene in the operation. Therefore, please wait patiently for the confirmation or return of bitcoin network
4 there is no way to cancel the exported bitcoin, which needs to be confirmed by the bitcoin miner; If you want to speed up the confirmation, you can appropriately increase the service charge paid to the miners, which is not collected by the platform.

3. Bitcoin receives payments almost instantaneously. However, there is an average delay of 10 minutes before the network starts adding your transaction to a block to confirm the transaction and that you can use the received bitcoin. Confirmation means that there is a consensus on the Internet that the bitcoin you receive is not used to pay others, so it is recognized as your property. Once your transaction is included in one block, all subsequent blocks will include it, which will greatly consolidate this consensus and rece the risk of transaction cancellation. Each user can determine the time when the transaction is confirmed, but generally speaking, receiving six confirmations is as safe as waiting six months after a credit card transaction
anyone can become a bitcoin miner by running software on specialized hardware. mining software monitors transaction broadcast through P2P network and performs appropriate tasks to process and confirm these transactions. Bitcoin miners can earn transaction fees paid by users to speed up transaction processing and additional bitcoin issued according to fixed formula

new transactions need to be included in a block with mathematical workload proof before they can be confirmed. This kind of proof is hard to generate because it can only be generated by trying billions of calculations per second. Miners need to run these calculations before their blocks are accepted and rewarded. As more people start mining, the difficulty of finding effective blocks will be automatically increased by the network to ensure that the average time to find a block remains at 10 minutes. Therefore, the competition for mining is very fierce, and no indivial miner can control the content contained in the block chain
workload proof is also designed to rely on previous blocks, which forces the time sequence of block chain. This design makes it extremely difficult to cancel previous transactions, because the workload proof of all subsequent blocks needs to be recalculated. When two blocks are found at the same time, the miner will process the first block received, and once the next block is found, it will be transferred to the longest block chain. This ensures that the mining process maintains a global consistency based on processing capacity
bitcoin miners can neither increase their rewards by cheating, nor deal with the fraulent transactions that destroy the bitcoin network, because all bitcoin nodes will reject the blocks containing invalid data that violate the bitcoin protocol rules. Therefore, even if not all bitcoin miners can be trusted, the bitcoin network is still secure
if you still don't understand, go to bitcoin home to see the deeper understanding of netizens.

4. If you want to ensure the irreversibility of the transaction, you have to wait for six data blocks to be fully confirmed, which takes at least one hour to confirm.

5.

Yes, very much

let's take an example:

get up a little hungry in the morning and go out to buy a pancake to eat

the pancake seller said: 0.000001 bitcoin, please pay

You say: OK. 0.000001 bitcoin has been paid, please confirm

After

1 minute: please confirm

After

2 minutes: please confirm

After

3 minutes: please confirm

After

10 minutes: please confirm

As a result, the boss finally confirmed

just now, because your blockchain fork is confirmed to be invalid, the transaction was unsuccessful. Please pay 0.000001 bitcoin again

you said: mlgb, it's too hard. But I have already eaten it. I can't help it. Pay again. Please confirm

After

1 minute: please confirm

After

2 minutes: please confirm

After

3 minutes: please confirm

After

10 minutes: please confirm

As a result, the boss finally confirmed

just now, because your blockchain fork is confirmed to be invalid, the transaction was unsuccessful. Please pay 0.000001 bitcoin again

you say: boss, I'm wrong. Shall I spit out the pancakes for you

So it can't be used

At present, everyone is short selling

Write an article tomorrow and tell us about it. See my blog: Tech help - Xiaocui says blockchain: how does bitcoin's Curse of wealth justify itself

6. Generally, only the payee can return bitcoin after 24 hours. Any bitcoin transaction is irreversible and can only be returned by the payee.

7.

Transaction mode of bitcoin

bitcoin is e-cash similar to e-mail, and both parties need "bitcoin wallet" similar to e-mail and "bitcoin address" similar to e-mail address. Just like sending and receiving e-mail, the remitter pays bitcoin directly to the other party through a computer or smart phone according to the recipient's address. The following table lists some websites that download bitcoin wallets and addresses for free

a bitcoin address is a string of about 33 characters long, consisting of letters and numbers, always starting with 1 or 3, such as & quot& quot; Bitcoin software can generate address automatically, and it doesn't need to exchange information online, so it can be offline. More than 2 bitcoin addresses are available. Figuratively speaking, there are about two grains of sand in the world. If there is an earth in each grain of sand, then the total number of bitcoin addresses far exceeds the number of all the sand on all these "earths"

the bitcoin address and private key appear in pairs, and their relationship is just like the bank card number and password. A bitcoin address is like a bank card number, which records how much bitcoin you have on it. You can generate bitcoin address at will to store bitcoin. When each bitcoin address is generated, a corresponding private key of the address will be generated. This private key proves that you have ownership of the bitcoin at that address. We can simply understand the bitcoin address as the bank card number, and the private key of the address as the password of the corresponding bank card number. Only when you know the bank password can you use the money on the bank card number. Therefore, please keep your address and private key when using bitcoin wallet

after the transaction data of bitcoin is packaged into a "data block" or "block", the transaction is initially confirmed. When a block is linked to a previous block, the transaction is further confirmed. After six block confirmations in a row, the transaction was irreversibly confirmed. Bitcoin P2P stores all transaction history in a "blockchain.". The blockchain continues to extend, and once new blocks are added to the blockchain, they will not be removed. Blockchain is actually a distributed database composed of a group of scattered client nodes and all participants, which is a record of all bitcoin transaction history. Nakamoto predicts that when the amount of data increases, users hope that not all the data will be stored in their own nodes. In order to achieve this goal, he uses the hash function mechanism. In this way, the client will be able to automatically eliminate those parts that it will never use, such as some very early bitcoin transactions

8. First of all, we need to find out whether you want to transfer money to the platform account or recharge RMB to the platform, and then buy bitcoin. The first case is that you recharge bitcoin to the platform, which takes about 60 minutes and an hour to reach the account, and then you can trade. The second situation is that you recharge RMB to your account. As far as I know, haobtc platform takes about 10 minutes to reach your account, and then you buy bitcoin in your account in seconds. The whole process can be completed in just over 10 minutes. I hope it can help you.

9.

If bitcoin is deposited in the exchange, you can't get money. You need to sell bitcoin and exchange it into RMB to withdraw it to the bank card. The methods are as follows:

1. register an account in any domestic bitcoin exchange, bind to a bank, and authenticate by real name

2. recharge bitcoin to the trading platform

3. register orders on the trading platform according to the market price, sell bitcoin and convert it into RMB

4. withdraw the RMB balance to the bound bank card

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if you don't understand, you can go to bitcoin home to check the related tutorial