Topic: fractional coins (Read 272 times)
This is really useful. Many thanks and respect.
Whenever you sent someone 0.5BTC, while you have infact 2.0BTC on the adress, the full amount will be spend. you will just sent the other 1.5 BTC to yourself, on another adress, in your wallet.
basically, if you want to send BTC to someone, you send ALL of the BTC that address owns. However, you send to more than one recipient, one of those recipients can be yourself.
This is demonstrated in this transaction for example : http://blockchain.info/tx/b2391755af7382c6643822a52e25620899396cc0dceab0a399033aeafa516310
AdolfinWolf -- thanks so much. That's the information I was looking for. I now have a point to help me get more information on the subject. When I know what to look for in better detail the process yields much more.
So much to learn about all this.
Intensity -- thanks for your comments also.
This forum is a great information source.
I buy 2 bitcoins and store them in some wallet. I send .5 to someone and now I am left with 1.5. Next someone sends me .75 bitcoins and now I have 2.25. I don't understand how this relates to the blockchain. When ever I read things it's usually kind of talking about whole bitcoins. When my balance in a wallet is a fractional 1.5, and I add another .75 , how do things get reassembled when I would then have 2 full bitcoins again and another .25. Should I even be pondering this, does it matter? I was thinking that a bitcoin had a public/private key pair but what happens when I split a bitcoin in half by sending .5 to someone else. Does each fractional part get it's own key pair? If it does not then I can't possible understand how any of this could work.
Whenever you sent someone 0.5BTC, while you have infact 2.0BTC on the adress, the full amount will be spend. you will just sent the other 1.5 BTC to yourself, on another adress, in your wallet.
basically, if you want to send BTC to someone, you send ALL of the BTC that address owns. However, you send to more than one recipient, one of those recipients can be yourself.
This is demonstrated in this transaction for example : http://blockchain.info/tx/b2391755af7382c6643822a52e25620899396cc0dceab0a399033aeafa516310
Great explanation, thank you!
I buy 2 bitcoins and store them in some wallet. I send .5 to someone and now I am left with 1.5. Next someone sends me .75 bitcoins and now I have 2.25. I don't understand how this relates to the blockchain. When ever I read things it's usually kind of talking about whole bitcoins. When my balance in a wallet is a fractional 1.5, and I add another .75 , how do things get reassembled when I would then have 2 full bitcoins again and another .25. Should I even be pondering this, does it matter? I was thinking that a bitcoin had a public/private key pair but what happens when I split a bitcoin in half by sending .5 to someone else. Does each fractional part get it's own key pair? If it does not then I can't possible understand how any of this could work.
Whenever you sent someone 0.5BTC, while you have infact 2.0BTC on the adress, the full amount will be spend. you will just sent the other 1.5 BTC to yourself, on another adress, in your wallet.
basically, if you want to send BTC to someone, you send ALL of the BTC that address owns. However, you send to more than one recipient, one of those recipients can be yourself.
This is demonstrated in this transaction for example : http://blockchain.info/tx/b2391755af7382c6643822a52e25620899396cc0dceab0a399033aeafa516310
Think of it like a checking/bank account. Your account number is your private key and you can send/receive (withdraw/deposit) into your wallet (account). You don’t need a whole number in a cash value to send or receive cash. Blockchain works on a similar method. Every transition creates a new balance, but each new balance is added to a separate block on the chain. The amount you had before is on a different block, but on the same account/wallet. Your coin(s) are added or subtracted and the Blockchain keeps track of your running balance.
I buy 2 bitcoins and store them in some wallet. I send .5 to someone and now I am left with 1.5. Next someone sends me .75 bitcoins and now I have 2.25. I don't understand how this relates to the blockchain. When ever I read things it's usually kind of talking about whole bitcoins. When my balance in a wallet is a fractional 1.5, and I add another .75 , how do things get reassembled when I would then have 2 full bitcoins again and another .25. Should I even be pondering this, does it matter? I was thinking that a bitcoin had a public/private key pair but what happens when I split a bitcoin in half by sending .5 to someone else. Does each fractional part get it's own key pair? If it does not then I can't possible understand how any of this could work.
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