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5 sats \ 1 reply \ @random_ 1 May 2022 \ on: Paper: Double Spend Races (May 2020) bitcoin
Does that mean we should wait for 20 confirmations?
It's never been that straightforward, right? According to this paper 20 confirmations is good if you assume attackers can gain 25% of the hashpower, and you define good as <0.1% probability of success.
While this model is supposedly more accurate (I wouldn't be able to tell in a reasonable amount of time), it doesn't differ that much from Satoshi's numbers. The result is directionally identical - the more confirmations, the more guarantee you have that a tx won't be reversed. It does suggest waiting longer than Satoshi's math suggested.
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