Bitcoin Forum

I recently bought some bitcoins after taking an online course.  Each of my purchases has an address, so I thought I would be able to go to a block chain browser site, put in one of the addresses, and see info about the transaction in which I bought some bitcoin.  But what I always get back is 0 transactions and 0 bitcoin value.  I've tried this at two different sites using 3 different addresses.

So I'm confused.  Does this mean that the site I purchased my bitcoins from (coinbase) isn't actually submitting a transaction to the bitcoin network when I buy coins? 

Or is it that what I am trying to do doesn't make sense?  I thought that if I own bitcoins, then somewhere on the block chain there must be a transaction where somebody transferred some bitcoins to me, or rather, to the address created for that transaction which I am able to access when I log into my account.

Is there a way after buying some bitcoin to verify those purchases by examining the block chain directly, rather than relying on the site at which you make the purchase?

Go to the transaction in your Coinbase account, click on it and see if there is an 'advanced details' link. If not the transaction was 'off-chain'.

When you buy Bitcoins from Coinbase, they go to your Coinbase wallet. You then need to send the BTC to an actual address. When you do that you will have a TXID and even if unconfirmed you will be able to see the BTC being sent to the address you asked.

BitcoinNewsMagazine wrote:

The transactions do have advanced details, but the details are just the address, a hash160 and a number of transactions, which is shown as 0.  So maybe it's as you said, these transaction are off-chain.

I thought coinbase was just an online transaction agent, like a stock broker. Instead, it sounds like the only sense in which I currently own bitcoins is that coinbase promises me they'll provide them when I use them.

Is it common for bitcoin wallets to work that way?  Are there any that sell you bitcoins via on-chain transactions?

VirosaGITS wrote:

Let me see if I understand you.  I guess I can create my own address.  (I'm assuming there must be bitcoin-compatible public/private key generators that I can download...)  Then I tell coinbase to 'Send' X BTC to that address.  You're saying that that will create a transaction on the block chain that I can view.

And since I (and only I) will have the secret key, I can be sure at that point that I 'own' those X bitcoins. Is that right?

You don't generate privkey you don't deal with those directly and you should not do it or expose them in any way. Just get a wallet and let it generate public addresses for you. Personally i use Multibit HD.

If you download some "generators" you're probably just infecting your computer with a wallet stealer.

Anything from here should do;
https://bitcoin.org/en/choose-your-wallet

-Get a wallet.
-Generate a receiving address. For example on HD wallets, you will click receive and you will be given an address that it wants you to only use one time (but you can use it as much as you want)
-Go to your coinbase wallet/account
-Click Send/request
-Input your newly generated Public address and send

You will then immediately be given a TXID in form of a hash. You can click it or copy it and paste it into a blockchain viewer.

Most wallets don't sell you Bitcoin. Most exchanges do transactions off chain. They become on chain when you decide to withdraw the Bitcoin and send them somewhere else. I would advise you to use your own desktop wallet since web wallets may not be as reliable. VirosaGITS gave you instructions above.

I think I understand the basics a bit better now.  Get a desktop wallet sounds like good advice.

Thanks to all who replied.

Very important is that you read and research very well everything. With Bitcoin there is no much room for a mistake. For example, transactions are irreversible which means if you send your coins to the wrong address, you pretty much have lost them.

So before you do anything, make sure that you understand it. It you don't understand, always ask questions and we will help you.

Yes, try Multibit wallet or Electrum wallet. These are light wallets, the,  don't require that you download the whole blockchain. Make sure you understand the wallet before you send all of your coins to it. And make sure your computer is relatively malware and virus free. You also have great tutorials online on how to use these wallets.

Another thing is, when you set everything up, always test the system with a little amount of your wealth. I do this all the time when I do something new even though I have a lot of experience. So send 0.01 BTCs to your wallet and then try to resend them back so you see that you control your wallet and not other way around.

Hope I helped!
Cheers!

you can do with a fresh laptop with a new ssd, use this laptop only for your client, maybe a small netbook

or a mini case with mini itx board, and cooler master 110 or antec slim mini itx case, they are very easy to move

Also he really needs to read up on wallets.  I'm not sure how much BTC he purchased but if a lot .... please read about cold/hot storage.  If you use a everyday computer to surf do other things, and keep a wallet.... not a good idea.   I suggest reading about wallet security before ever taking the coins out of coinbase.

It might seem like a lot at first but its worth it to be safe with your coins.