On blockchain.info I saw a transaction labeled as "No inputs (newly generated coins)". Are these new coins generated from mining?
How come that such a transaction can have 30 confirmations, while others only have six confirmations?
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1It seems like you're asking two different questions. Are you asking about where coins come from, or how the number of confirmations are determined?– Nick ODellCommented May 31, 2015 at 0:52
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Please only ask about one topic per question. We routinely merge duplicate questions, which doesn't work when multiple questions are asked in one post. When you are asked for clarification, please improve your post by editing it, instead of only answering with a comment. To get an introduction how Stackexchange works, check out our tour.– Murch ♦Commented May 31, 2015 at 13:40
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possible duplicate: What are Bitcoin "confirmations"?, How exactly do new bitcoins come into existence?, What exactly is Mining?, What is the coinbase?– Murch ♦Commented May 31, 2015 at 13:42
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4 Answers
No inputs means that the coins are coming from a coinbase transaction, that is, they were only moved "once", when they were created.
Transactions will have different numbers of confirmations based on how recently the funds were moved.
The issuance of credits into the Bitcoin ledger is done through (in finance terms) an issuance transaction. The Bitcoin protocol refers to this as a "coinbase". All issuance transactions are generated by "miners" (transaction processors) who are taking guesses at solving an impossible math problem. The winner who publishes the correct guess to the problem is given authority by the rest of the network to write this "coinbase" transaction into the ledger. Since it has no inputs (no sending account) it is this transaction that is the creation of credits in the ledger, and is an exception from all other transactions which must have inputs and signatures.
These issuance or "coinbase" transactions have confirmations the same as any other transaction, which is to say that the number of "confirmations" is equal to the number of blocks "mined" since that transaction was first published in the ledger.
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Thank u so much for ur precise & very understandable answer. You summed it up beautifully! Full circle & now I'm excited to learn & do more Commented Jun 1, 2015 at 6:48
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@TheArtofBTC: If you want, you may accept robertdavid's great answer to show that it was the most helpful to you. You will gain some rep, as will he for that.– Murch ♦Commented Jun 1, 2015 at 8:29
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Thank you Murch and @TheArtofBTC, I appreciate your positive comments! Commented Jun 5, 2015 at 21:11
Creating a nonce+ecnon=2e2c8n2Ø/14/04041604/000000x60812020808/0x8/16160404021612/ This is the formula for solving for P=
Newly mined or generated coins are required to receive over 100 confirmations (I forget exactly how many) before they are recognized by the network. This is a safety factor to prevent Bitcoin 'counterfeiting' by a conspiracy of miners.
