Questions tagged [time]
40 questions
26
votes
2 answers
How does Bitcoin figure out what time it is?
Bitcoin needs to know the current time in order to validate blocks. How does it decide that?
Note that I'm talking about the Satoshi client specifically.
Nick ODell
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10
votes
3 answers
How accurate is Bitcoin network time?
Have any observations been made to conclude the accuracy of Bitcoin network time?
It would be interesting to know if NIST or any other authority has tracked the phenomenon.
user5107
8
votes
2 answers
How old should be my bitcoins to send them again without transaction fee?
I'm making some test for a bitcoin merchant webpage. I want to test different actions without paying transaction fees everytime, but I can't since I use the same few bitcoins for everything.
Sooo how long should I wait for my bitcoins to be…
user3418
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7
votes
1 answer
Fastest cryptocurrency
What cryptocurrency is the fastest in terms of reaching 100% transaction confirmation?
I've found sites like this that show that Fastcoin is the fastest at 48 seconds.
I think David Schwartz said that Ripple gets 100% confirmation in ~10 seconds.
Is…
user5107
6
votes
3 answers
How long does it take to download the blockchain? It's been over a day and still going
I'm a newbie to bitcoins, and need some help!
I downloaded the Bitcoin client and installed it on my laptop.
It is 'Synchronizing with the network' and has been doing this for over a day. Is this normal? I have broadband internet and sometimes…
Anthony
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6
votes
2 answers
Are timestamps in transactions trustable?
I need to properly segment transactions by time. Are timestamps in transactions trustable? Can these be forged?
I'm not sure if transaction timestamps are part of the protocol, but I'm particularly interested in the "Received Time" which shows up in…
aromero
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4
votes
1 answer
How dependent is Bitcoin on the clock?
Bitcoin takes into account clock of nodes on the network when propagating transactions tru the mempool and persisting them into the next block. If majority of the network clocks are compromised what kind of issues would occur?
Aleksandr Levchuk
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4
votes
2 answers
Accelerated block generation
According to http://btc.blockr.io/ :
Height Block created Transactions Block fee Size (kb) Days destroyed
318525 2 minutes ago 28 0.00370000 8.36 kB 2.00
318524 3 minutes ago 64 0.00746243 25.76 kB …
Doug Peters
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4
votes
1 answer
Is it possible (in some way or other) to expire a txout?
I read Contracts: Will this be possible? where part of the question related to expiring a transaction and one of the replies said that it would never be possible since it causes problems. Unfortunately the reply didn't indicate what problems it…
Phil Dann Ward
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4
votes
1 answer
Is the Bitcoin Blockchain aware of time?
I recently learned about how the lightning network works, and one particular thing that I found interesting is that, to prevent fraud, the output for each commitment transaction contains a clause for the revocation secret. If a bad actor broadcasts…
urban-jungle
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3
votes
3 answers
Why does the median-past time average the last 11 block timestamps and not the last 12?
As described in BIP-113. Wouldn't the last 12 blocks bring us closer to a one-hour offset (ie 120min, midpoint 60)?
Paul Razvan Berg
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2
votes
2 answers
Mastering Bitcoin: Advanced Scripting Question
At the end of Mastering Bitcoin Chapter 7. https://github.com/bitcoinbook/bitcoinbook/blob/second_edition/ch07.asciidoc#complex-script-example
They ask this question in regards to the script:
How do the partners "reset" the clock every 29 or 89 days…
Charlie L
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2
votes
1 answer
Why transactions' average confirmation times becoming more chaotic?
According to this chart, Bitcoin's transactions' average confirmation times are varying much more widely than they were a year ago. Why would this be? Is it because the daily transaction rate has been increasing?
Geremia
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2
votes
1 answer
How does bitcoin handle extreme transaction volume?
What would happen if the amount of active Bitcoin users grows up enough so that the average rate at which transactions are created becomes faster than the average rate at which transactions are included in the blockchain?
Even if it doesn't grow up…
Carlos Pinzón
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2
votes
1 answer
Does synchronization takes such long time for first time or every time when syncing?
My internet bandwidth is around 10 - 20 KB/s. If I could sync with it for the first time then no problem. If I should need to sync it every time when opening it then it's really a big problem for me.
Ragav
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