What does it mean when an unknown Bitcoin wallet transfers to another unknown wallet (is the Bitcoin lost when there are 0 confirmations)?
What does it mean when an unknown Bitcoin wallet transfers to another unknown wa
What does it mean when an unknown Bitcoin wallet transfers to another unknown wallet? According to official news from BitcoinCash, the simple understanding is that users use BTC-ATM (a dedicated Bitcoin wallet) to transfer BTC to their own unknown wallet. In this case, it is important to note that due to the decentralized nature of Bitcoin and the many security vulnerabilities in its network, it is not possible to receive assets or make withdrawals from that wallet.
Currently, there are already some applications that have implemented the BTC-ATM function, but these software do not display any transaction history. For example, Binance Launchpad has also adopted a new payment system, but it still does not support the BTC/ATM function. It provides services such as assisting with small payments, cryptocurrency exchanges, and transactions, etc.
Is Bitcoin lost when there are 0 confirmations in a transaction?
According to Coindesk, there was a message today that someone transferred 1 BTC from Bitfinex exchange to another account with 0 confirmations. However, the sender overlooked a certain question: whether the bitcoin is still on the blockchain? If no one answers this question (or it is unclear), the person would immediately return the fund to their own wallet. However, when the user made another transaction, they found that they had received over 10,000 BTC and 500,000 ETH, and they started to transfer them again. However, it is still unclear where this money came from, because it has not been transferred on the Ethereum network, and new transfer operations cannot be conducted yet.
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