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The protocol rules state that
For each input, if the referenced output transaction is coinbase (i.e. only 1 input, with hash=0, n=-1), it must have at least COINBASE_MATURITY (100) confirmations; else reject this transaction
Why should coinbase transactions with less than 100 confirmations be unspendable? What is the point of the rule?
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The reason for this is that if a fork were to occur, some blocks will be orphaned and not have any coins which can be rebroadcast. If a block containing a transaction you send me gets orphaned, I can still get my coins, but if the block you are sending me coins from gets orphaned, I can not rebroadcast since the coinbase no longer exists on the valid chain.
But the chances of such a massive fork is basically zero. – Matthew Mitchell – 2014-04-10T13:53:28.343
1You say that now ;) – jason328 – 2017-12-12T18:50:58.273
The answer to this question is the second answer in the above linked question. – John T – 2014-02-23T05:26:58.143