From a543abe388cd1eb0ec606a0846b7ae073cfa8eef Mon Sep 17 00:00:00 2001 From: "David A. Harding" Date: Sat, 4 Feb 2023 16:59:19 -1000 Subject: [PATCH] CH02::Bobs view: remove tipbox about unconfirmed safety This advice may have been somewhat accurate when the first edition of this book was published and opt-in replace-by-fee wasn't available, but that's no longer the case. And now, especially, with default replace-by-fee on the probable horizon, there's even less safety in accepting unconfirmed transactions as final without some type of secondary protection. --- ch02.asciidoc | 14 -------------- 1 file changed, 14 deletions(-) diff --git a/ch02.asciidoc b/ch02.asciidoc index 64a18b23..a791eec1 100644 --- a/ch02.asciidoc +++ b/ch02.asciidoc @@ -509,20 +509,6 @@ transaction through other nodes, it will reach Bob's wallet within a few seconds. Bob's wallet will immediately identify Alice's transaction as an incoming payment because it contains an output redeemable by Bob's keys. Bob's wallet application can also independently verify that the - -[TIP] -==== -((("confirmations", "of small-value transactions", -secondary-sortas="small-value transactions")))A common misconception -about bitcoin transactions is that they must be "confirmed" by waiting -10 minutes for a new block, or up to 60 minutes for a full six -confirmations. Although confirmations ensure the transaction has been -accepted by the whole network, such a delay is unnecessary for -small-value items such as a cup of coffee. A merchant may accept a valid -small-value transaction with no confirmations, with no more risk than a -credit card payment made without an ID or a signature, as merchants -routinely accept today.((("", startref="Tconstruct02"))) -==== transaction is well formed. If Bob is using his own full node, his wallet can further verify Alice's transaction only spends valid UTXOs.