Re:94k Bitcoin (1B USD) transferred from unknown wallet to u...
by nybble41 on Tuesday September 10, 2019 @12:31PM
(#20930001)
That isn't quite how Bitcoin works. Transactions use specific unspent prior transaction outputs (from the "UTxO" set) as inputs; there is no concept of "remaining funds". However, you're mostly right: if the attacker controls the private keys related to the original transaction then they can insert a conflicting transaction and make the original one permanently invalid on that chain. However, an attacker who does not have the private keys to sign a conflicting transaction cannot prevent the transaction from eventually being confirmed unless they control over 50% of the hashpower.
If you're concerned that the person you're receiving funds from might be willing to attempt a double-spend then you should wait for a suitable number of confirmations before considering the funds successfully transferred. However, if they control over 50% of the hash rate then there is no suitable number of confirmations that would make the transfer safe.
If you're concerned that the person you're receiving funds from might be willing to attempt a double-spend then you should wait for a suitable number of confirmations before considering the funds successfully transferred. However, if they control over 50% of the hash rate then there is no suitable number of confirmations that would make the transfer safe.