what is transfered as bitcoin on the blockchain??

kasunrandil

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Quote from: NeuroticFish on July 07, 2022, 07:01:28 AM

Quote from: kasunrandil on July 07, 2022, 06:57:13 AM

yes i understand. inputs become outputs then it became another input ( utxo) in another wallet. am i correct??

Indeed, a normal transaction's inputs are other transaction's (unspent) outputs.
If the input is not of the size needed for the output (plus tx fee), the difference (the change) returns to your wallet (usually to a different address) as a new, smaller input.

yes i have checked it. balance return to another address as a new input and creat a new utxo.

NeuroticFish

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Quote from: kasunrandil on July 07, 2022, 06:57:13 AM

yes i understand. inputs become outputs then it became another input ( utxo) in another wallet. am i correct??

Indeed, a normal transaction's inputs are other transaction's (unspent) outputs.
If the input is not of the size needed for the output (plus tx fee), the difference (the change) returns to your wallet (usually to a different address) as a new, smaller input.

kasunrandil

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Quote from: NeuroticFish on July 07, 2022, 05:15:24 AM

Quote from: kasunrandil on July 07, 2022, 05:08:15 AM

so you mean all the inputs are equel to 21 million??

The sum of all unspent outputs (UTXO) will be nearly 21M around year 2140. It cannot be the sum of all the inputs, since a lot of inputs are spent every minute.
That is if the miners don't start refusing the block rewards (some block rewards were lost like that in the past).

yes i understand. inputs become outputs then it became another input ( utxo) in another wallet. am i correct??

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Quote from: NeuroticFish on July 07, 2022, 05:15:24 AM

That is if the miners don't start refusing the block rewards (some block rewards were lost like that in the past).

Rather than refuse, what actually happened they use bugged software which doesn't claim block reward, tx fee or both.

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Quote from: kasunrandil on July 07, 2022, 05:08:15 AM

so you mean all the inputs are equel to 21 million??

The sum of all unspent outputs (UTXO) will be nearly 21M around year 2140. It cannot be the sum of all the inputs, since a lot of inputs are spent every minute.
That is if the miners don't start refusing the block rewards (some block rewards were lost like that in the past).

kasunrandil

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Quote from: NeuroticFish on July 07, 2022, 03:21:01 AM

Quote from: kasunrandil on July 07, 2022, 03:12:19 AM

BTCmay anyone explain me what is transferd as bitcoin, on the blockchain. thank you

On the blockchain nothing is transferred. The blockchain doesn't do transfers. The blockchain is a ledger, it records transfers.
So if your actual question is: "what we can find on blockchain?" the answer is "records of transfers".

Transfers are made from "the system" to the miners, transfers containing the block reward and the miner fees.
Transfers are made from addresses to addresses.

If an address has transfers towards it (inputs) that it didn't transfer away (didn't spend), their values, added up, makes the coins that address contains.

so you mean all the inputs are equel to 21 million??

kasunrandil

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Quote from: NeuroticFish on July 07, 2022, 04:33:37 AM

Quote from: kasunrandil on July 07, 2022, 04:22:03 AM

there is nothing called bitcoin and botcoin is just a protocol made by peoples psycology

This is your conclusion. And by the same logic you can say also that there's no interent, just some protocols, and no money, just some printed paper and plastic cards (and some protocols).

Quote from: kasunrandil on July 07, 2022, 04:22:03 AM

all of above means there is nothing called bitcoin and botcoin is just a protocol made by peoples psycology and every thing based on utxo and txo ??

Since you already know about utxo, this start to mean that you may be just a troll's new account.
However, I will give you a nice answer too: Bitcoin is as real as Windows, and Linux, and the internet and the money in your bank account. Whatever you choose to call it, however your psychology allows those be seen as real, it's entirely up to you.

i see it as a record of connections between people

kasunrandil

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Quote from: NeuroticFish on July 07, 2022, 04:33:37 AM

Quote from: kasunrandil on July 07, 2022, 04:22:03 AM

there is nothing called bitcoin and botcoin is just a protocol made by peoples psycology

This is your conclusion. And by the same logic you can say also that there's no interent, just some protocols, and no money, just some printed paper and plastic cards (and some protocols).

Quote from: kasunrandil on July 07, 2022, 04:22:03 AM

all of above means there is nothing called bitcoin and botcoin is just a protocol made by peoples psycology and every thing based on utxo and txo ??

Since you already know about utxo, this start to mean that you may be just a troll's new account.
However, I will give you a nice answer too: Bitcoin is as real as Windows, and Linux, and the internet and the money in your bank account. Whatever you choose to call it, however your psychology allows those be seen as real, it's entirely up to you.

enterted to crypto market 4 years ago bro. but i am not familiar with programing and blockchain.

NeuroticFish

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Quote from: kasunrandil on July 07, 2022, 04:22:03 AM

there is nothing called bitcoin and botcoin is just a protocol made by peoples psycology

This is your conclusion. And by the same logic you can say also that there's no interent, just some protocols, and no money, just some printed paper and plastic cards (and some protocols).

Quote from: kasunrandil on July 07, 2022, 04:22:03 AM

all of above means there is nothing called bitcoin and botcoin is just a protocol made by peoples psycology and every thing based on utxo and txo ??

Since you already know about utxo, this start to mean that you may be just a troll's new account.
However, I will give you a nice answer too: Bitcoin is as real as Windows, and Linux, and the internet and the money in your bank account. Whatever you choose to call it, however your psychology allows those be seen as real, it's entirely up to you.

kasunrandil

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Quote from: NeuroticFish on July 07, 2022, 03:54:45 AM

Quote from: kasunrandil on July 07, 2022, 03:51:27 AM

then what are the 21 million exist ??

That is something calculated in a smart way in Bitcoin's code, in the part that tells how much block reward can a miner claim.
The calculation started with 50 BTC/mined block and that value is halving every ~4 years for many years to come, making the sum of all bitcoins possible to be mined nearly 21M.

And before you ask "what will happen afterwards?", I'll tell that even afterwards the miners will still get the transaction fees.

ok then. all of above means there is nothing called bitcoin and botcoin is just a protocol made by peoples psycology and every thing based on utxo and txo ??

NeuroticFish

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Quote from: kasunrandil on July 07, 2022, 03:51:27 AM

then what are the 21 million exist ??

That is something calculated in a smart way in Bitcoin's code, in the part that tells how much block reward can a miner claim.
The calculation started with 50 BTC/mined block and that value is halving every ~4 years for many years to come, making the sum of all bitcoins possible to be mined nearly 21M.

And before you ask "what will happen afterwards?", I'll tell that even afterwards the miners will still get the transaction fees.

kasunrandil

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Quote from: NeuroticFish on July 07, 2022, 03:21:01 AM

Quote from: kasunrandil on July 07, 2022, 03:12:19 AM

BTCmay anyone explain me what is transferd as bitcoin, on the blockchain. thank you

On the blockchain nothing is transferred. The blockchain doesn't do transfers. The blockchain is a ledger, it records transfers.
So if your actual question is: "what we can find on blockchain?" the answer is "records of transfers".

Transfers are made from "the system" to the miners, transfers containing the block reward and the miner fees.
Transfers are made from addresses to addresses.

If an address has transfers towards it (inputs) that it didn't transfer away (didn't spend), their values, added up, makes the coins that address contains.

then what are the 21 million exist ??

NeuroticFish

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Quote from: kasunrandil on July 07, 2022, 03:12:19 AM

BTCmay anyone explain me what is transferd as bitcoin, on the blockchain. thank you

On the blockchain nothing is transferred. The blockchain doesn't do transfers. The blockchain is a ledger, it records transfers.
So if your actual question is: "what we can find on blockchain?" the answer is "records of transfers".

Transfers are made from "the system" to the miners, transfers containing the block reward and the miner fees.
Transfers are made from addresses to addresses.

If an address has transfers towards it (inputs) that it didn't transfer away (didn't spend), their values, added up, makes the coins that address contains.

kasunrandil

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Activity: 112

Merit: 1

BTCmay anyone explain me what is transferd as bitcoin, on the blockchain. thank you

Topic: what is transfered as bitcoin on the blockchain?? (Read 138 times)