-3

Do we get paid by the IP? Or is the address?

2 Answers 2

1

Bitcoin is sent from one address to another.

Bitcoin transactions can be transmitted from and received by any IP address that may or may not be controlled by the person who is sending or receiving the Bitcoin.

The Bitcoin in each address is controlled by a private key. If you control the private key then you can send Bitcoin from the address it controls regardless of IP address.

Bitcoin does not "live" on your computer or any IP address. Bitcoin lives on the blockchain, which is a public ledger. Your Bitcoin balance is the sum of Bitcoin in the address or addresses for which you control the private key.

0

To be technically correct, Bitcoin transactions are not sending coins from one public key hash (Bitcoin address) to another, although they are typically used that way.

Actually a transaction is a combining/splitting one or several unspent coins into one or several new unspent coins so that the coins have embedded rules (script) which determine what kinds of subsequent transactions can use them as inputs.

This means in practice that most coins related to simple money transfers have rules that anyone with a given private key related to the given Bitcoin address can use the coin, and so it shows up in this related wallet balance.

However, a coin can sometimes be created to be spent by multiple different private keys, by a password, after a certain time, or for example by anyone without any checking. These custom coins are used in contracts and other practical uses.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge you have read our privacy policy.

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