There is a developing situation in which a bug in the Bitcoin client software is causing a blockchain fork.  Those using Bitcoin-Qt v0.8 should not trust the transactions as being non-reversible even if the client shows the transaction having received six or more confirmations.

This latest on the situation may be monitored on the #bitcoin-dev IRC channel.

[The tl:dr on the bug … the v0.8 client software allows a larger transaction that the previous releases did not.  As a result v0.7 clients aren’t accepting those blocks.]

[Update: 2013-03-12 02:55 AM UTC.  A forum thread by core developer  Pieter Wuille has the latest.  No further updates will appear in this post.]
[Update: 2013-03-12 02:49 AM UTC.  The fork occurred after block 225439.  No transactions from block 225439 or prior (corrected) will be affected.  Waiting on miners on the v0.7 fork to regain “longest chain” status — expected within a matter of hours.]

[Update: 2013-03-12 02:12 AM UTC.  The blockchain built by clients on v0.8 was 6 blocks (perhaps exactly 6 blocks) ahead, thus some transactions that were confirmed will revert to unconfirmed until mined through a v0.7 client.]
[Update: 2013-03-12 02:00 AM UTC.  Large mining pools are reverting to use the v0.7 client.]

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