Noob Question of the day: explanation of the block chain?

bbit

legendary

Activity: 1330

Merit: 1000

Bitcoin

Quote from: Yatta99 on June 25, 2011, 04:49:31 PM

Instead of looking at the Bitcoin app as a 'wallet' that holds 'coins' it's better to look at it as a 'bankbook' that holds 'ledger entries'. Each address does not 'hold' coins but rather is a ledger entry that describes the ownership of those coins. The sum total of those ledger entries is what is displayed as your Balance in the Bitcoin application. What you are describing as 'coins being sent from two addresses' is really the combination of two ledger entries in the same bankbook which total 21.881 BTC.

wow, very good way to put it and very clear thank you again!

bbit

legendary

Activity: 1330

Merit: 1000

Bitcoin

Quote from: Deimos_Anomaly on June 25, 2011, 04:44:49 PM

There is usually several adresses in your wallet.
If you have used more than one adress to receive coins, your coins will be spread over those adresses.
When you do a payment it will pick coins randomly from your adresses.

I've seen blocks with more than 10 sent from adresses in one payment.

thanks I had no idea about this very helpful! Grin

Yatta99

member

Activity: 84

Merit: 10

I need an new box...

Instead of looking at the Bitcoin app as a 'wallet' that holds 'coins' it's better to look at it as a 'bankbook' that holds 'ledger entries'. Each address does not 'hold' coins but rather is a ledger entry that describes the ownership of those coins. The sum total of those ledger entries is what is displayed as your Balance in the Bitcoin application. What you are describing as 'coins being sent from two addresses' is really the combination of two ledger entries in the same bankbook which total 21.881 BTC.

Deimos_Anomaly

newbie

Activity: 26

Merit: 0

There is usually several adresses in your wallet.
If you have used more than one adress to receive coins, your coins will be spread over those adresses.
When you do a payment it will pick coins randomly from your adresses.

I've seen blocks with more than 10 sent from adresses in one payment.

bbit

legendary

Activity: 1330

Merit: 1000

Bitcoin

If you want to point to some good resources that explains these things that is fine also ... but having a look over at this blockchain:

http://blockexplorer.com/address/1JwrdAyRGhp5xJW69rCimPtocdRo3bc5gj

I see 2 sent payment address's ( this was a btc transfer to mt.gox from mybitcoin)

why is their 2 sent payment address's ?

Thanks for any clarification.

Topic: Noob Question of the day: explanation of the block chain? (Read 751 times)