Welcome to BeerMoneyForum.com - BIGGEST MAKE MONEY FORUM ONLINE

[Dagov]

How are Bitcoin transactions carried out?
Each single transaction is made up of a sum that serves as the sending address's feed, the recipient's address's output data, and the private keys that really permit the withdrawal of Bitcoins from a user's account.

Blockchain is essentially a database that keeps track of all transactions made since it was founded.

 

[Wisdom01]

Bitcoin transaction are been carried out through a Bitcoin wallet , like most traders actually uses the wallet to send and receive Bitcoin , they use it to perform many other different trading function and others , that's something I take note of

 

[btaliat]

You cannot perform any crypto transactions without using a platform and mostly we make use of wallet. This is a platform where the sender send the amount of Bitcoin he wants to a receiver using his designated address.

 

[Wisdom01]

You cannot perform any crypto transactions without using a platform and mostly we make use of wallet. This is a platform where the sender send the amount of Bitcoin he wants to a receiver using his designated address.

Yeah I think a platform should be used and that's a wallet , most people usually make use of wallet to conduct transaction and others , they majorly use it to recieve and send Bitcoin or other cryptocurrency to their users and this is actually one method they makes use of

 

[Margery]

If a person is engaged in mining, then he also has a miner that he sets up to send the mined blocks (essentially the same transaction) to his wallet. And there, if I'm not mistaken, the content is configured for the bitcoin blockchain. Otherwise, the transaction will simply fail. The miner has more settings for the convenience of the manner. But, all the same, the transaction is configured almost automatically.

 

[Margery]

Bitcoin transaction is now included in a "block" which gets attached to the previous block to be added to the blockchain. Every transaction in the blockchain is tied to a unique identifier called a transaction hash (txid), which looks like a 64-character string of random letters and numbers. You can track a particular transaction by typing this txid in the search bar on the blockchain explorer.

So I thought that the transaction is automatically included in the block and when it is signed, confirmed, the transaction goes through and is considered completed. But, then such a question, if everything depends only on block confirmation, then why does it happen that transactions hang for an indefinite time?

 

[Riberet19]

So I thought that the transaction is automatically included in the block and when it is signed, confirmed, the transaction goes through and is considered completed. But, then such a question, if everything depends only on block confirmation, then why does it happen that transactions hang for an indefinite time?

Yes, each transaction must be confirmed by the network and is included in a record or better known as an accounting book in which everyone can consult the transactions, that is why Bitcoin is totally transparent and everyone can see this accounting book even if it does not have Bitcoin

 

[Emmanuel24]

Bitcoin transaction is carried out when both sender and receiver has already had an address encrypted in their wallet to send and receive then there is platform designed to make the transaction possible.

 

[Frenzybliz]

Bitcoin transactions are carried out through the use of digital wallets. These wallets are like an online bank account that stores your Bitcoins. When you want to make a transaction, you will have to enter the amount of Bitcoin you want to transfer, the recipient's public address, and then sign the transaction with your private key.

 

[ammu40]

Bitcoin transactions are carried out through the use of digital wallets. These wallets are like an online bank account that stores your Bitcoins. When you want to make a transaction, you will have to enter the amount of Bitcoin you want to transfer, the recipient's public address, and then sign the transaction with your private key.

yes.A digital wallet is an essential component of making a Bitcoin transaction. With a digital wallet, you can store, receive and send Bitcoins. The digital wallet is like your virtual bank account where you have full control over your funds.

 

[Riberet19]

yes.A digital wallet is an essential component of making a Bitcoin transaction. With a digital wallet, you can store, receive and send Bitcoins. The digital wallet is like your virtual bank account where you have full control over your funds.

Yes, basically without a wallet we can neither send nor receive bitcoins as well as store them, it is important to know how to use it and above all manage it and know how to differentiate between public and private keys, and also know how to choose which wallet to use both desktop wallets, browser wallets or cold wallets

 

[Kennysplash]

I think this is pretty basic you will just have to putting the amount that you want to send out and put in the wallet address of the receiver. In just a couple of minutes the transaction should be confirmed and delivered successfully.

 

[btaliat]

The process is just like that of fiat currency. You need to get the details of the receiver of your coin if you are the sender and you need to give our your details if you are the receiver. It is that simple if you use Binance.

 

[Sammydan]

The process of doing transaction involve bitcoin is very simple and straight. Before you can buy or sell bitcoin, you need to have a wallet, which is a store house for the bitcoin or mine. After having a bitcoin in your wallet, you can send to anyone you want to send to, provided you have it's wallet address.

 

[Gen Evie]

Each owner transfers bitcoin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership.

 

[Wisdom01]

The transaction are been intiated by the Blockchain , that's why the amount been charged is actually intiated by the Blockchain and the amount could definitely cost in a different amount range too I really think tho

 

[Gamer01]

Usually a higher amount is charged and then the average amount is used to make transactions the miners get rewards for making transactiosnvalid which they do acheive via their hard work actually indeed and it takes serious work

 

[fiery phoenix]

Each transaction has to be confirmed by a miner(a recipient who solves highly complex data to get rewards in form of coins) in a proof of work consensus mechanism and in a proof of stake consensus by a validator

 

[Gamer01]

Yes and all transactions are sent via mempool the transactions with higher fees are given priority over those with having lower fees and the ones with lower than regular minimum fees might be delayed about upto 19 hours or may get stocked as well if possible indeed

 

[Bigron]

The Bitcoin network is used for Bitcoin transactions. When you transfer someone bitcoin, the exchange is transmitted to the network as a whole and then cryptographically validated by other parties, known as nodes.Every transaction is documented on the blockchain, which serves as a public ledger.