a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment by mk
mk  ·  2596 days ago  ·  link  ·    ·  parent  ·  post: Musings on Cryptocurrency - an invitation to ruminate

The last btc txn I did, I didn’t even check for confirmations. I just went to bed.

You also need to add about 50 minutes with high variance for the other 5 blocks that most folk want on top of the first to consider it settled.





demure  ·  2592 days ago  ·  link  ·  

I guess my client set a really high transaction fee by default then? Shapeshifted BTC to ETH in early Dec and it took maybe an hour or two?

Or is it that shapeshift only cared about a relatiively low number of confirmations?

kleinbl00  ·  2592 days ago  ·  link  ·  

That link is to average confirmation time. It's not set; it's whatever the network lag is at the moment based on use.

As I recall, the transaction speed was designed to be 8 seconds.