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Added a Tip Box that explains how transactions used as examples are in the past and should be used for educational purposes.
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krupawan5618 2021-03-10 22:49:08 -05:00 committed by GitHub
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@ -202,6 +202,11 @@ Joe then carefully checks to make sure he has entered the correct amount, becaus
Meanwhile, Alice's wallet is constantly "listening" to published transactions on the bitcoin network, looking for any that match the addresses it contains. A few seconds after Joe's wallet transmits the transaction, Alice's wallet will indicate that it is receiving 0.10 BTC.
[TIP]
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Have you recently checked the bitcoin exchange rate for your desired currency pair? As explained in <<bitcoin_price>>, the price of bitcoin is moving! In fact, many wallets allow users to choose to show balances in BTC or their desired currency, but keep in mind that currency values are calculated in real-time and will change. Additionally, some examples in this book reference real-life past transactions that have taken place, which allow readers (or anyone!) to search for them on the blockchain using online tools. In later chapters, interacting with this data can deepen understanding. Having said this, today's exchange rate may suggest that the motivations of the charcaters in our user stories are highly irregular. As a fun thought experiment, think about how generous of a friend Joe would be if he had made this same exchange with Alice today. In the next chapter, you might also notice that Alice _really_ loves coffee!
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.Confirmations
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((("getting started", "confirmations")))((("confirmations", "bitcoin wallet quick start example")))((("confirmations", see="also mining and consensus; transactions")))((("clearing", seealso="confirmations")))At first, Alice's wallet will show the transaction from Joe as "Unconfirmed." This means that the transaction has been propagated to the network but has not yet been recorded in the bitcoin transaction ledger, known as the blockchain. To be confirmed, a transaction must be included in a block and added to the blockchain, which happens every 10 minutes, on average. In traditional financial terms this is known as _clearing_. For more details on propagation, validation, and clearing (confirmation) of bitcoin transactions, see <<mining>>.