Questions tagged [transactions]

This tag should be used for questions related to transactions. Transactions are signed messages regarding the transfer or generation of bitcoins. They are broadcast throughout the Bitcoin network and, if accepted, integrated in the blockchain.

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22
votes
2answers
5k views

What are the pros and cons of Ripple's consensus as compared with Bitcoin's proof-of-work?

One of the major differences between Bitcoin and Ripple is how they process transactions. I can think of three ways in which Ripple's "consensus" scheme is superior to Bitcoin's proof-of-work: Less ...
15
votes
2answers
2k views

How to create a transaction with a custom script?

Is there a step-by-step tutorial or any documentation covering how to create a transaction that is not a standard OP_DUP OP_HASH160 <pubKeyHash> OP_EQUALVERIFY OP_CHECKSIG? It seems very odd ...
15
votes
3answers
26k views

What is the average size of a bitcoin transaction?

I'm curious, since the inception of bitcoin, what is the average size (in bytes) of a bitcoin transaction? To be clear, the easiest way to find this is not to take the size of the block-chain and ...
10
votes
1answer
20k views

Concept of Validating Transactions

Trying to get my head around Bitcoin. Been watching tutorials, unsure if I still understand Alice wants to send Bob 5 Bitcoins Alice hashes the transaction with 5 Bitcoins and send's it to Bob's ...
3
votes
1answer
2k views

Pairing pattern of txids in merkle tree

For constructing the merkle tree txids are paired and hashed. ¹ But how are these txids paired? Does it happen chronologically or is there a certain pattern of pairing?
4
votes
1answer
1k views

What goes in to the message of a transaction signature?

I'm trying to create my own transaction from scratch, just to see how it works. I'm currently working backwards, and I'm stuck on the signature of a transaction... Here's my unsigned transaction: ...
11
votes
2answers
2k views

What's the longest chain of orphan blocks? (How many confirmations have been necessary?)

I believe my two title questions are the same (are they?): Heretofore, what is the longest chain of orphan blocks (of N blocks), such that if someone didn't wait for N+1 confirmations, they may have ...
11
votes
4answers
3k views

Why do outputs need to be spent entirely?

I understand what change is and how it works (and it's analogous to physical money change), but what I don't understand is why this is needed in the first place. Given that this is all computer based,...
6
votes
2answers
561 views

Which bitcoin script forms should be detected when tracking wallet balance?

I am implementing a library for tracking wallet balance of given bitcoin addresses. How should the transaction output script be parsed to find if the output belongs to the given address? Is it dirty ...
6
votes
1answer
1k views

How to index the UTXO set efficiently?

I haven't been able to find information on how to efficiently index UTXOs. Can you explain or point me to some resources? Update: Btw, I understand completely that the notion of address balance is ...
19
votes
2answers
5k views

What happens if my transaction is not accepted because I did not pay fees?

I was reading this thread about a client fork that does not force transaction fees and I noticed the big red warning saying that some coins might get lost if I am not careful. What does this mean? ...
14
votes
1answer
1k views

Are there any pools or large miners running “child pays for parent” patch?

A feature available through pull #1647 gives the recipient of a transaction a method to help get a transaction to confirm. This feature is called "child pays for parent", and what it means is that ...
13
votes
2answers
5k views

What is the maximum number of inputs/outputs a transaction can have?

Is there a maximum recommended number of inputs/outputs for each transaction? I was scripting a faucet and wasn't sure whether to payout in one transaction to all addresses or split them into groups ...
11
votes
1answer
2k views

What is the difference between time, blocktime and timereceived?

What is exactly the difference between time, blocktime and timereceived in transaction information returned by Bitcoind JSON RPC API? For example: { "amount": 0.02, "blockindex": 45, "...
8
votes
1answer
2k views

Is there a fixed order for all transactions in the block chain?

Every block in the block chain contains a list of transactions. This list has a certain order which is basically set by the miner introducing the block. The merkle root in the block header requires ...
6
votes
2answers
2k views

Why is it impossible to derive public key from address?

This is my first bitcoin transaction. Why this transaction doesn't show my public key? help message on the same page says that, It's impossible to determine the public key from a Bitcoin address, ...
6
votes
1answer
941 views

How to handle a ridiculous amount of receiving addresses?

By ridiculous I mean something absolutely absurd. 1 million+ addresses. Like say if Amazon had started to accept payments, how could they possibly keep up? Bitcoind probably can't keep up? How would I ...
5
votes
3answers
2k views

when I send money from my wallet, which address shows up as “sender”?

I have not yet sent money to anyone. I was wondering if there is any way to control which address shows up in the block chain as the sending address. Say I receive money on addresses A, B, C. I want ...
2
votes
2answers
1k views

accept bitcoin payments for orders without 3rd party software

I've been searching for an open-source alternative to blockchain.info's Receive Payments API (https://blockchain.info/api/api_receive). I want to run bitcoind on my own server and have payments ...
11
votes
4answers
7k views

Which is the relation between transactions and blocks?

I don't quite understand the relation between a transaction and a block. I imagine it as a list of blocks, and each block having a list of transactions but I have some doubts. When I do a transaction....
11
votes
2answers
1k views

Double spend attack by sending higher fee transaction directly to the pools possible?

The standard client prioritizes TXs by the time of receipt, e.g. a conflicting transaction will not be relayed. This is not enforced by the network, though. Is there anything that would prevent this ...
11
votes
4answers
2k views

If bitcoin is indivisible, where does change come from?

Let's say I want to give Alice .22 BTC. I currently have in my wallet 1 BTC. Because Bitcoin is indivisible, I have to spend the 1 BTC I have as input, and .78 BTC will be returned to me as change, ...
10
votes
2answers
558 views

Transaction overriding in lightning network

I'm reading the lightning network whitepaper, and at some point it states this: Therefore, it is possible in bitcoin to devise a bitcoin script whereby all old transactions are invalidated, and ...
10
votes
2answers
3k views

Historical transaction/trade ratio. Available? Useful?

Blockchain.info lists both "Trade Volume" and "Estimated Transaction Volume" in both BTC and USD. It occurred to me that the ratio of one to the other might be a useful metric in determining how much ...
9
votes
2answers
7k views

How long does it take to receive bitcoins?

I bought 1.25 BTC but after 2 days I see nothing. What is wrong? This is the transaction. Also, I went to freebitcoins.appspot.com, since they claim thay they give for free 0.005 bitcoins per visitor....
8
votes
3answers
2k views

What is the largest transaction by value to date for bitcoin currency?

As the title asked - what is the largest transaction by value to date?
8
votes
3answers
1k views

Where does the random number come in to play when signing a transaction?

Just given all the news about this topic lately (Android security flaw), I'm curious about WHERE and WHY the random number is used during the signing of a transaction. I always thought a transaction ...
8
votes
2answers
918 views

How does the standard client prioritize transactions?

I've heard that the standard client prioritizes which transaction to relay based on the Bitcoin Days Destroyed and the fee paid on the transaction, but what is the exact formula used to determine ...
8
votes
2answers
1k views

Which is the reliability of a transaction timestamp?

Just one question. Where and how is the TIMESTAMP of a transaction generated? Is it reliable to develop a transactions notification system? Thank you! (I mean the time node below) { "hash":"...
6
votes
4answers
775 views

Why isn't transaction replacement supported?

The wiki article on contracts talks about the best stuff you can do with delays and replacement. (Lock time and sequence numbers, respectively.) But according to the documentation, replacement isn't ...
5
votes
1answer
1k views

What is meant by “relaxed standards” for P2SH redeem scripts in Bitcoin Core 0.10.0?

From the Bitcoin Core 0.10.0 release notes: Standard script rules relaxed for P2SH addresses The IsStandard() rules have been almost completely removed for P2SH redemption scripts, allowing ...
5
votes
2answers
10k views

How does Bitcoin divisibility work?

I come from a programming background and I am trying to figure out how Bitcoin allows for divisibility. An example using high level code would also be nice. I understand the high level basics of ...
4
votes
1answer
2k views

What happens if a miner publishes a block which contains an invalid transaction?

What happens if a miner (accidentally or maliciously) publishes a block with correct proof of works, which contains an invalid transaction (e.g., a double spending one)? Is the block ignored by the ...
4
votes
2answers
622 views

Why is the transaction priority removed?

As far as I know, in the earlier version of Bitcoin, there was a mechanism about transaction priorities. However, it has been removed (or not being taken into account anymore) and now the only ...
4
votes
2answers
1k views

Bitcoin Transaction Fee

Does the bitcoin transaction fee depend on the number of addresses in the proverbial from field or the number of transactions that led to the balance in the addresses in the from field. eg: I have 10 ...
4
votes
1answer
3k views

How to create raw transaction

I've started creating my own wallet in bitcoinj and I have serious problem. I want to create raw transaction without wallet object. So I wrote this piece of code: //String to a private key ...
3
votes
2answers
304 views

To what extent does asymmetric cryptography secure bitcoin transactions?

Is there a specific attack or bug which asymmetric cryptography prevents during bitcoin transactions?
3
votes
3answers
668 views

How it is possible to validate existing Pay to Public Key Hash transaction without public key?

These are my understanding or assumptions. Sign a document requires secret key and message only as below SignDocument(secret key, message) => signature And verification of signature requires ...
3
votes
3answers
228 views

Accepting 0-confirmation transactions and detecting double-spends with open source solution

I would like to accept 0-confirmation bitcoin for very small amounts. I am happy to accept zero-confirmation spends and am aware of the risks. However, the tool needs the ability to "flag" the ...
2
votes
1answer
499 views

Why is scriptSig filled with scriptPubKey before signing a transaction?

I'm checking the transaction signing as described here Redeeming a raw transaction step by step example required. What is the reason for steps 5 and 6: temporarily filling scriptSig with scriptPubKey ...
2
votes
1answer
498 views

Is the Bitcoin protocol secure if two parts of the network have no connection?

I'm trying to understand the Bitcoin protocol, and I have a security scenario. Let's assume that today between the internet connection between Europe and America is lost. John is in Europe John ...
2
votes
1answer
508 views

What came first, transaction or mining?

I have been thinking for a while and can't really figure this out.. From my understanding, in Bitcoin network, 'bitcoins' are created when a miner successfully mines a transaction. So this means in ...
1
vote
1answer
754 views

How does the transaction signature prevent transaction duplication?

Let's say that Alice sends 1 BTC to Bob. We have then a signature of (Alice sends 1 BTC to Bob) with Alice private key. What prevents Bob from duplicating this exact same transaction and sending it to ...
0
votes
4answers
8k views

How to get the list of transactions of input/outputs for a bitcoin address in JSON format?

Is there an example of how to get all the transaction data for a bitcoin address in json format?
-1
votes
1answer
265 views

What is the source of 1 Satoshi transactions from suspicious addresses (1Sochi.. for e.g.) [duplicate]

I can't link to one on block chain because are never confirmed, one example from my wallet software: 6dd2861a4f6d025742f6306588f2929f476e8f3b2d25c1487cc245e0a402675c: Seen by 1 peer. Pending/...
-2
votes
4answers
637 views

I think I found 241 Bitcoin [closed]

I have been having dreams for the past month about BTC and an old computer I had bought Bitcoin on a long, long time ago. I just found said computer in my grandmother's basement. Booted it up and lo ...
6
votes
1answer
699 views

How is the transaction malleability issue being fixed?

With the upcoming release of Bitcoin Core 0.9, I am wondering how the transaction malleability issue is being fixed and what are the consequences of the fix? It appears that transaction malleability ...
5
votes
1answer
747 views

Do transactions and blocks get relayed even if a node believes them to be invalid?

Each node has a very clear view of what is valid and what is not. With conflicting blocks (Blockchain fork) or transactions (double-spending attack) it will always choose the first it sees, until it ...
5
votes
3answers
505 views

Are loans with enforced repayment possible on the blockchain?

Are loans with interest possible in Bitcoin, such that repayment is enforceably encoded with Bitcoin Script on the blockchain from the establishment of the lending contract?
5
votes
2answers
205 views

Would moving a transaction from an old block to a new one allow more pruning?

At Pruning the branches in Merkle Tree Nick ODell writes "A leaf (transaction) can be pruned when all of its outputs have been spent." So I was thinking that if a transaction is one of the last few in ...