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I would tremendously appreciate it if you could walk me through this page. Why are there two addresses on the right? What is the longer hash called that is directly under "Transaction" (not the address)? Why do so many transactions occur in the middle of the ocean? Are there any other better websites to view the blockchain than blockchain.info? What makes a transaction "High Priority"?

Thanks so much!

  • A link to the transaction in question would be nice (I realize most of it is not specific to this transaction, but still...) – Tim S. May 14 '14 at 18:57
  • There is only one address on the left, did you mean the right, or are you referring to the two values under "Input Scripts"? – Tim S. May 14 '14 at 18:58
  • Yes I meant right, sorry about that. Edited – jonny May 14 '14 at 18:59
  • And the link: blockchain.info/tx/… – jonny May 14 '14 at 19:00
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Why are there two addresses on the right?

Bitcoin transactions often have two outputs: one is the intended recipient, the other is a change address. This is because outputs must be used in their entirety, so the remainder is sent to an address that the sender owns. In this case, the change address was the address that the money was sent from, but this is not always the case (it can marginally improve security and anonymity to use a new address each time, including for change).

What is the longer hash called that is directly under "Transaction" (not the address)?

The transaction hash. It is used as a sort of identifier for the transaction, but beware using it for that before it's in the blockchain due to malleability.

Why do so many transactions occur in the middle of the ocean?

That is the lat/long coordinates 0N 0E. It really just means that blockchain.info has no good data on where this came from, so it defaults there.

Are there any other better websites to view the blockchain than blockchain.info?

Not in my opinion, as far as I'm aware.

What makes a transaction "High Priority"?

If a transaction includes a standard transaction fee and isn't non-standard, it will quickly be transmitted to nearly every miner in the world, who will start working them quickly. Some transactions have no fees attached, e.g. see this one (estimated time is "Within 6 Blocks (Medium Priority)") or find another on the unconfirmed list. These may be transmitted across the network, based on a few rules including the age and size of the inputs. Miners and nodes might not be as quick about transmitting these or may limit it to a few free transactions per block, so the transaction might not get into the chain as quickly.

  • Tim, thanks so much for the wonderful help. Your answers were very clear, provided great explanations, and have given me a couple more topics to research so that I can continue broadening my knowledge. All the best to you! – jonny May 14 '14 at 19:32
  • I've spent a lot of time learning about bitcoin over the last month-plus, and really understand the network/protocol quite well--but it is so obviously not user-friendly enough yet to become mainstream. – jonny May 14 '14 at 19:34
  • I love thinking about the unlimited future applications of the blockchain, but it seems to me that we first need to make it "readable" or "understandable" by all. For instance, just as Netscape/Google "simplified" the internet for the masses, I think the we need to "simplify" the presentation of the blockchain. What I am saying is that I don't think blockchain.info should be the only source for acquiring information about the blockchain. It is not even close to as user-friendly as it ought to be. Thoughts? – jonny May 14 '14 at 19:38
  • Glad I could help, consider marking my answer as accepted. Further discussion is better suited to a forum or chat place. – Tim S. May 14 '14 at 19:43

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