![]() The following invoice status values are relevant with respect to double-spend attempts. Not all invoice status values are associated with activity on the bitcoin blockchain. The BitPay invoice is associated with a status (or state) from the time it is created to the time it is settled (e.g., bank deposit to the merchant). BitPay invoice payment and fulfillmentīitPay wraps every bitcoin transaction in an “invoice”. Those wishing to attempt to commit double-spend transactions may attempt to exploit this knowledge in combination with an improperly configured BitPay merchant. The risk increases on a per transaction basis the longer the transaction remains unconfirmed. All unconfirmed transactions are at risk of being involved with double-spend attempts. There is no qualification by the network that prevents the same bitcoin from being used in multiple, parallel (unconfirmed) transactions. This process allows bitcoin miners to deprioritize larger transactions and those transactions with lower fees. The decision criteria used by bitcoin miners to choose transactions includes both the size of the transaction (in bytes) and the fee amount included with the transaction (in BTC). Increased transaction traffic on the network allows bitcoin miners (those participants who confirm transactions) to be more selective when choosing which transactions to confirm (e.g. About the Bitcoin networkĪs the Bitcoin network gains interest and subsequent use it is not uncommon for transaction confirmation times to increase due to limited network resources. Make sure to fetch the BitPay invoice status after receiving an IPN (Instant Payment Notification), since IPNs are not secure. Fulfillment on any other status (including “Paid”) results in increased risk of loss due to double-spend attempts. BitPay strongly recommends that goods or services are only fulfilled when the BitPay invoice status is either 'Confirmed' or 'Complete'.
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