What happens if you are sent a payment and your wallet is not connected?

TippingPoint

legendary

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Quote from: drrussellshane on May 27, 2013, 02:03:11 PM

Quote from: nightminer on May 27, 2013, 01:56:51 PM

Also keep in mind that your transaction is sent to *everyone*. This is great because it means that if you have your wallet.dat file with you, you could theoretically travel the 7 seas, hop off at the nearest port, walk up to the first best PC that is synced, update the wallet.dat file and start buy from whichever merchant you choose right there and then.

That's correct right?

That's about right.

It is also possible to "receive" bitcoin to an address that is paired with a private key that is stored on paper, having never been connected to the internet. When the time comes to spend to coins held on said address, the private key is imported into a Bitcoin client or redeemed through a reputable service, such as blockchain.info.

Well stated, and significant.

drrussellshane

hero member

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Quote from: nightminer on May 27, 2013, 01:56:51 PM

Also keep in mind that your transaction is sent to *everyone*. This is great because it means that if you have your wallet.dat file with you, you could theoretically travel the 7 seas, hop off at the nearest port, walk up to the first best PC that is synced, update the wallet.dat file and start buy from whichever merchant you choose right there and then.

That's correct right?

That's about right.

It is also possible to "receive" bitcoin to an address that is paired with a private key that is stored on paper, having never been connected to the internet. When the time comes to spend to coins held on said address, the private key is imported into a Bitcoin client or redeemed through a reputable service, such as blockchain.info.

nightminer

newbie

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Also keep in mind that your transaction is sent to *everyone*. This is great because it means that if you have your wallet.dat file with you, you could theoretically travel the 7 seas, hop off at the nearest port, walk up to the first best PC that is synced, update the wallet.dat file and start buy from whichever merchant you choose right there and then.

That's correct right?

bg002h

donator

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Merit: 1047

I outlived my lifetime membership:)

Quote from: mxc0bbn on May 27, 2013, 12:37:14 PM

If your wallet is not online and you get sent a payment does it get stored in the blockchain and updated to your wallet the next time you sync or do you actually have to be online when the payment gets sent out to make sure it doesn't orphan or get lost?

Yup, it gets stored. It'll be there when you get back

. The recipient address does not need to be anything other than a well formed address. In fact, the recipient address doesn't even have to belong to someone...see 1bitcoineater

http://blockexplorer.com/address/1BitcoinEaterAddressDontSendf59kuE

This vanity address is so long, there is no way someone knows the corresponding private key. Money sent here is just plain old lost.

mxc0bbn

member

Activity: 79

Merit: 10

Welcome to Miami!

If your wallet is not online and you get sent a payment does it get stored in the blockchain and updated to your wallet the next time you sync or do you actually have to be online when the payment gets sent out to make sure it doesn't orphan or get lost?

Topic: What happens if you are sent a payment and your wallet is not connected? (Read 958 times)