Whatever amount that is not in the transaction will be fee.
So you need to send the change back to yourself if you don't want to send everything or pay a really big fee
Topic: Really confusing bitcoin transaction!!! (Read 626 times)
The address 15ioBi6L... had a transaction output worth 0.01809236BTC (similar to having a 100 dollar bill).
Then he decided to pay 16 people a value of 0.00028BTC (similar to paying 16 people each $1).
So he split that output (the 100 dollar bill) into 16 new outputs each worth 0.00028BTC total of 0.00448BTC (similar to paying 16 $1 bills).
From the remainder which is worth 0.01361236BTC (similar to $84 dollar bill-assuming we have such thing) he puts 0.01280945BTC back in his pocket which means he (at the same time) pays the mining fee of 0.00080291BTC.
Yes this is right.It is just the remaining balance that he has when he sent off all the 0.00028 bitcoins in each and every addresses above him.If we will compare this in a shop its the change that the buyer receive.It is the remaining of his balance after spending money. Then he decided to pay 16 people a value of 0.00028BTC (similar to paying 16 people each $1).
So he split that output (the 100 dollar bill) into 16 new outputs each worth 0.00028BTC total of 0.00448BTC (similar to paying 16 $1 bills).
From the remainder which is worth 0.01361236BTC (similar to $84 dollar bill-assuming we have such thing) he puts 0.01280945BTC back in his pocket which means he (at the same time) pays the mining fee of 0.00080291BTC.
Quote
It is in some point correct if the private address was isolated and imported to another wallet that has no other addresses. The process is automatic and any excess on the transaction sent will always sent back to the same address that created the transaction.
In a normal wallet where there are lots of address available it is correct that the excess BTC will be sent back to any addresses that is already on that wallet.
In a normal wallet where there are lots of address available it is correct that the excess BTC will be sent back to any addresses that is already on that wallet.
By private address you meant private key ?
To simplify calculation lets have this example.
You have 3 eggs in one basket -----------> You give 2 to another person
-----------> You get one remaining in your basket.
Basket here is bitcoin address and eggs are bitcoin.
You have 3 eggs in one basket -----------> You give 2 to another person
-----------> You get one remaining in your basket.
Basket here is bitcoin address and eggs are bitcoin.
Not confusing at all, when you have 10 bitcoins in your wallet/ address and if you send 1 bitcoin to other addresses you get 1 bitcoin going out from your address and you'll get 9 bitcoins going to the same address, bitcoins don't sit in addresses like you'd expect them.
So when you spend bitcoin either spend all of which is in the address or any remaining amount is sent back as a change and is a public information nothing confusing.
And it's an automatic process.
So when you spend bitcoin either spend all of which is in the address or any remaining amount is sent back as a change and is a public information nothing confusing.
And it's an automatic process.
This is not technically correct because there is no such thing as "bitcoin" to send/receive/spend, that is a term which is used wrongfully and to make it easy and equivalent to money I suppose.
What exists are transactions or this: 3a68bda3575f762ddf89176d7a35f4aa5c95e7915cb0aa181428f94690807b89
This is just a layman term so that non technical people will easily learn about the scenario where bitcoin transaction is created,
What op sees is that person spending this output 074e2012b765b0495f69ee997426ec8908995afca245d2aad27f948b77f9549b
and creating this new one: 3a68bda3575f762ddf89176d7a35f4aa5c95e7915cb0aa181428f94690807b89
and creating this new one: 3a68bda3575f762ddf89176d7a35f4aa5c95e7915cb0aa181428f94690807b89
So what do you call the Bitcoin that were moved to other address? Aren't they sent? or spent?
Always the last output address is one of the input address
This is not correct.There is no need that the last one be the same address. It can even be a new address, or it can be the first, second,...
It is in some point correct if the private address was isolated and imported to another wallet that has no other addresses. The process is automatic and any excess on the transaction sent will always sent back to the same address that created the transaction.
In a normal wallet where there are lots of address available it is correct that the excess BTC will be sent back to any addresses that is already on that wallet.
Not confusing at all, when you have 10 bitcoins in your wallet/ address and if you send 1 bitcoin to other addresses you get 1 bitcoin going out from your address and you'll get 9 bitcoins going to the same address, bitcoins don't sit in addresses like you'd expect them.
So when you spend bitcoin either spend all of which is in the address or any remaining amount is sent back as a change and is a public information nothing confusing.
And it's an automatic process.
So when you spend bitcoin either spend all of which is in the address or any remaining amount is sent back as a change and is a public information nothing confusing.
And it's an automatic process.
Thanks man i feel like i got the answer for my query....so that means it goes like this every time i do a btc payment..the designated amount for the transaction goes to the recipent and the rest come back to my wallet with some part getting deducted as miner fees..that why the tx id shows it as a transaction that was made to his own wallet my himself only...hmmm thanks bro
[i mg]https://s24.postimg.org/6ak613vs5/Capture.png[/img]
In the above transaction...the point from where the transaction initiated was : 15ioBi6L8uaF52caQsRxZNmbf6jpQmUJBf.....in the last row of the list of all the addresses that received the payment....the same address is listed there again ?
Does that mean the guy did a payment to himself ? OR is it something else!!!!
No need to get confused, this is how bitcoin transactions works. Always the last output address is one of the input address (there are few variations, find yourself).In the above transaction...the point from where the transaction initiated was : 15ioBi6L8uaF52caQsRxZNmbf6jpQmUJBf.....in the last row of the list of all the addresses that received the payment....the same address is listed there again ?
Does that mean the guy did a payment to himself ? OR is it something else!!!!
Just check as many transactions you could in explorers and then make a conclusion before shouting here. You are with member rank but it shows you never come across about basics of bitcoins. It is not too late, just try to learn the basics from bitcoin.org and bitcoin's wiki.
actually i did went through many transactions and i also knew that what happens when a transaction take place..but coulnd't remember it at that moment
Not confusing at all, when you have 10 bitcoins in your wallet/ address and if you send 1 bitcoin to other addresses you get 1 bitcoin going out from your address and you'll get 9 bitcoins going to the same address, bitcoins don't sit in addresses like you'd expect them.
So when you spend bitcoin either spend all of which is in the address or any remaining amount is sent back as a change and is a public information nothing confusing.
And it's an automatic process.
So when you spend bitcoin either spend all of which is in the address or any remaining amount is sent back as a change and is a public information nothing confusing.
And it's an automatic process.
This is not technically correct because there is no such thing as "bitcoin" to send/receive/spend, that is a term which is used wrongfully and to make it easy and equivalent to money I suppose.
What exists are transactions or this: 3a68bda3575f762ddf89176d7a35f4aa5c95e7915cb0aa181428f94690807b89
What op sees is that person spending this output 074e2012b765b0495f69ee997426ec8908995afca245d2aad27f948b77f9549b
and creating this new one: 3a68bda3575f762ddf89176d7a35f4aa5c95e7915cb0aa181428f94690807b89
Always the last output address is one of the input address
This is not correct.There is no need that the last one be the same address. It can even be a new address, or it can be the first, second,...
[i mg]https://s24.postimg.org/6ak613vs5/Capture.png[/img]
In the above transaction...the point from where the transaction initiated was : 15ioBi6L8uaF52caQsRxZNmbf6jpQmUJBf.....in the last row of the list of all the addresses that received the payment....the same address is listed there again ?
Does that mean the guy did a payment to himself ? OR is it something else!!!!
No need to get confused, this is how bitcoin transactions works. Always the last output address is one of the input address (there are few variations, find yourself).In the above transaction...the point from where the transaction initiated was : 15ioBi6L8uaF52caQsRxZNmbf6jpQmUJBf.....in the last row of the list of all the addresses that received the payment....the same address is listed there again ?
Does that mean the guy did a payment to himself ? OR is it something else!!!!
Just check as many transactions you could in explorers and then make a conclusion before shouting here. You are with member rank but it shows you never come across about basics of bitcoins. It is not too late, just try to learn the basics from bitcoin.org and bitcoin's wiki.
Not confusing at all, when you have 10 bitcoins in your wallet/ address and if you send 1 bitcoin to other addresses you get 1 bitcoin going out from your address and you'll get 9 bitcoins going to the same address, bitcoins don't sit in addresses like you'd expect them.
So when you spend bitcoin either spend all of which is in the address or any remaining amount is sent back as a change and is a public information nothing confusing.
And it's an automatic process.
So when you spend bitcoin either spend all of which is in the address or any remaining amount is sent back as a change and is a public information nothing confusing.
And it's an automatic process.
The address 15ioBi6L... had a transaction output worth 0.01809236BTC (similar to having a 100 dollar bill).
Then he decided to pay 16 people a value of 0.00028BTC (similar to paying 16 people each $1).
So he split that output (the 100 dollar bill) into 16 new outputs each worth 0.00028BTC total of 0.00448BTC (similar to paying 16 $1 bills).
From the remainder which is worth 0.01361236BTC (similar to $84 dollar bill-assuming we have such thing) he puts 0.01280945BTC back in his pocket which means he (at the same time) pays the mining fee of 0.00080291BTC.
Then he decided to pay 16 people a value of 0.00028BTC (similar to paying 16 people each $1).
So he split that output (the 100 dollar bill) into 16 new outputs each worth 0.00028BTC total of 0.00448BTC (similar to paying 16 $1 bills).
From the remainder which is worth 0.01361236BTC (similar to $84 dollar bill-assuming we have such thing) he puts 0.01280945BTC back in his pocket which means he (at the same time) pays the mining fee of 0.00080291BTC.
In the above transaction...the point from where the transaction initiated was : 15ioBi6L8uaF52caQsRxZNmbf6jpQmUJBf.....in the last row of the list of all the addresses that received the payment....the same address is listed there again ?
Does that mean the guy did a payment to himself ? OR is it something else!!!!
In my view, that's correct and I have an issue like this but I have no clear proof to say with him. it's so sad, Guy.
In the above transaction...the point from where the transaction initiated was : 15ioBi6L8uaF52caQsRxZNmbf6jpQmUJBf.....in the last row of the list of all the addresses that received the payment....the same address is listed there again ?
Does that mean the guy did a payment to himself ? OR is it something else!!!!
Not sure, but maybe he specifically set the same address to be paid change to? im not sure if this can be done or if it would look like that on the blockchain explorer page tho.
In the above transaction...the point from where the transaction initiated was : 15ioBi6L8uaF52caQsRxZNmbf6jpQmUJBf.....in the last row of the list of all the addresses that received the payment....the same address is listed there again ?
Does that mean the guy did a payment to himself ? OR is it something else!!!!
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