2 ms·
It doesn't matter the age of your wallet. Without waiting for other blocks to write your payment you run the risk of a double pay leaving you with nothing. e.
by toolz 7y ago
It doesn't matter the age of your wallet. Without waiting for other blocks to write your payment you run the risk of a double pay leaving you with nothing. e.g. I buy some coffee and then immediately send all funds from that wallet to my other wallet. If the 2nd transaction gets recorded first, the first tx won't happen.
- heptathorp 7y agoThis requires colluding with a miner, since nodes will reject a transaction that spends the same output as a transaction they've already seen. For a small payment like a coffee, it should be enough to check that the transaction has a reasonable fee and wait 1 second to see that it has propagated through the network.
- solotronics 7y agoThe double spend problem with zero-conf payments is about equivalent to people making fake bank notes. It's possible and maybe a problem for small transactions (large TXNs people wait around for a few confirmations) but its stealing and just as illegal as any other form of theft.