Author

Topic: How exactly do Bitcoin transactions work ? (Read 485 times)

legendary
Activity: 3248
Merit: 1070
Hello.
   I would like to know:

1- Is there a website (link) to check the Balance of a Bitcoin Address ?

2- How exactly do Bitcoin transactions work ?
 I wanted to know Why Balance is not automatically deducted from the account when performing a Withdrawal Huh For example, I had 0.005 and when I try to send 0.002 to another address, I get the message "Withdrawal Successfull" but the balance remains the same and the 0.002 is not deducted from my account. So do you think it will be deducted later ?

Thank you for clearing me up.

1. Loads of websites to checkt he balance of a bitcoin address. Blockchain.info and many others, simply use a preferred search engine and search for "bitcoin explorer"

2. You do not want to know how bitcoin txes work, you simply want to know something regarding the wallet that you are using.
From what you have mentioned, you are using an online exchange as your bitcoin wallet, good luck with keeping your coins safe in the long run, get a desktop wallet like electrum.
If you are using an exchange, chances are you need to go to your email to confirm the bitcoin withdrawal as is standard operating procedures for all exchanges

But how does Bitcoin Txes work?

bitcoin transaction work in a way that miner decide which one to include in their block that they mined, and they do this accordingly to the amount of fee, they prioritize the one with higher fee, because they have betetr profit on those TX

you can use blockchaininfo to check all the records about your or other people TX
hero member
Activity: 1036
Merit: 504
Becoming legend, but I took merit to the knee :(
But how does Bitcoin Txes work?

... How does money work?

You cannot spend money that you do not have, bitcoin transactions work the same way.

In layment terms, you create a new transactions from the outputs of a previous transaction sent to you as new inputs and transfer them over the network to the person/address you are sending to.

You are using an exchange so the above probably does not apply to you nor would you actually understand how to actually works.

If you are wondering why your balance is not deducted, check your email for goodness sake.

On another note, many exchanges have limits on the minimum you can withdraw.
copper member
Activity: 1050
Merit: 500
You can check it here https://bitcoin.org/en/how-it-works; that definitely discuss how bitcoin works.  It is somehow a bit complicated but that site explains how bitcoin works in a very simple way.
jr. member
Activity: 56
Merit: 10
Hello.
   I would like to know:

1- Is there a website (link) to check the Balance of a Bitcoin Address ?

2- How exactly do Bitcoin transactions work ?
 I wanted to know Why Balance is not automatically deducted from the account when performing a Withdrawal Huh For example, I had 0.005 and when I try to send 0.002 to another address, I get the message "Withdrawal Successfull" but the balance remains the same and the 0.002 is not deducted from my account. So do you think it will be deducted later ?

Thank you for clearing me up.

1. Loads of websites to checkt he balance of a bitcoin address. Blockchain.info and many others, simply use a preferred search engine and search for "bitcoin explorer"

2. You do not want to know how bitcoin txes work, you simply want to know something regarding the wallet that you are using.
From what you have mentioned, you are using an online exchange as your bitcoin wallet, good luck with keeping your coins safe in the long run, get a desktop wallet like electrum.
If you are using an exchange, chances are you need to go to your email to confirm the bitcoin withdrawal as is standard operating procedures for all exchanges

But how does Bitcoin Txes work?
hero member
Activity: 1036
Merit: 504
Becoming legend, but I took merit to the knee :(
Hello.
   I would like to know:

1- Is there a website (link) to check the Balance of a Bitcoin Address ?

2- How exactly do Bitcoin transactions work ?
 I wanted to know Why Balance is not automatically deducted from the account when performing a Withdrawal Huh For example, I had 0.005 and when I try to send 0.002 to another address, I get the message "Withdrawal Successfull" but the balance remains the same and the 0.002 is not deducted from my account. So do you think it will be deducted later ?

Thank you for clearing me up.

1. Loads of websites to checkt he balance of a bitcoin address. Blockchain.info and many others, simply use a preferred search engine and search for "bitcoin explorer"

2. You do not want to know how bitcoin txes work, you simply want to know something regarding the wallet that you are using.
From what you have mentioned, you are using an online exchange as your bitcoin wallet, good luck with keeping your coins safe in the long run, get a desktop wallet like electrum.
If you are using an exchange, chances are you need to go to your email to confirm the bitcoin withdrawal as is standard operating procedures for all exchanges
jr. member
Activity: 56
Merit: 10
Hello.
   I would like to know:

1- Is there a website (link) to check the Balance of a Bitcoin Address ?

2- How exactly do Bitcoin transactions work ?
 I wanted to know Why Balance is not automatically deducted from the account when performing a Withdrawal Huh For example, I had 0.005 and when I try to send 0.002 to another address, I get the message "Withdrawal Successfull" but the balance remains the same and the 0.002 is not deducted from my account. So do you think it will be deducted later ?

Thank you for clearing me up.
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