Take the 2-minute tour ×
Bitcoin Stack Exchange is a question and answer site for Bitcoin crypto-currency enthusiasts. It's 100% free, no registration required.

I dont understand how a wallet comes into play? Is a wallet a necessary part of a transaction or is it just a way of collating multiple addresses?

I get how I should use a new address for each transaction but don't understand whether they have to be attached to a wallet?

I am looking to generate thousands of addresses to accept payments for purchases in my online shop. Once an address has money in it, do I need to collate all the money together in a central account?

share|improve this question
add comment

1 Answer

Is a wallet a necessary part of a transaction or is it just a way of collating multiple addresses?

Wallets are just a convenient way to store/back up multiple private keys (corresponding to multiple addresses).

Once an address has money in it, do I need to collate all the money together in a central account?

Not really - you can spend money from multiple addresses in one transaction.

share|improve this answer
    
thanks Nick, how does that work? How would I send from multiple addresses in one transaction, if I don't use a wallet? (We are building a web app, which needs to receive payments and then pay out winnings. (which may be more than the initial payment). Any ideas –  BitWarrior Feb 20 '13 at 17:50
1  
@BitWarrior Is there some reason why you are opposed to using a wallet? –  Nick ODell Feb 20 '13 at 17:53
1  
I don't think you understand what a wallet is.. A wallet is simply a way (fileformat) to store multiple addresses in a single file. If you store all addresses in a database, then your .sql file is your "wallet". –  Nicolai Feb 20 '13 at 23:37
add comment

Your Answer

 
discard

By posting your answer, you agree to the privacy policy and terms of service.

Not the answer you're looking for? Browse other questions tagged or ask your own question.