How does my wallet work/sync?

[Riconline]

Hi everyone. I hate to say it but im a newbie with regards to crypto wallets. I found this to be one of the best informative forums online so decided to register and drop a msg. So i've installed my bitcoin wallet. (bread wallet) to be precise and cant figure out how the satoshis or bitcoin are projected or receieved onto the wallet via the unique address. So in the case of mining for example.. Do they automaically sync into the wallet via the address when you  complete each task/mine etc or do you have to wait for a certain amount to build up before you can withdraw them to the wallet?. Ive done a few tasks here and there to test it out however when the wallet app syncs it still shows a 0.00 amount. Im entering the correct address.  Am i doing something wrong?. I need help with this. Hope i managed to explain this correctly. Cheers.

[croptodic]

I think you are right. I also know that process you tried to say. If you want to know more you can contact with the people who are directly engage in mining.

[mocacinno]

Hi everyone. I hate to say it but im a newbie with regards to crypto wallets. I found this to be one of the best informative forums online so decided to register and drop a msg. So i've installed my bitcoin wallet. (bread wallet) to be precise and cant figure out how the satoshis or bitcoin are projected or receieved onto the wallet via the unique address. So in the case of mining for example.. Do they automaically sync into the wallet via the address when you  complete each task/mine etc or do you have to wait for a certain amount to build up before you can withdraw them to the wallet?. Ive done a few tasks here and there to test it out however when the wallet app syncs it still shows a 0.00 amount. Im entering the correct address.  Am i doing something wrong?. I need help with this. Hope i managed to explain this correctly. Cheers.

Lots of questions you got there... I'll try to answer some of them, and maybe reply to other posters as well... Don't hesistate to repeat any question i have missed

1) you're asking about the very basics of bitcoin when you're asking how wallets and addresses work... You should probably try to read satoshi's whitepaper, or visit the bitcoin wiki... But basically, a wallet keeps track of your private keys, then parses all new blocks for transactions that fund your address. If a transaction is found that funds an address that is controlled by your wallet, the output value is added to your total. When you "pay" somebody else, you use one or more of these unspent outputs as input for a new transaction, your wallet signs this new transaction using your private key, and then broadcasts it to the network.... This is only a very, very, very simplistic representation of what's happening... If you want to know more, read the whitepaper or the wiki!

2) mining: same thing as the previous question... This is one of the core concepts of bitcoin and very hard to explain in a simple post. The whitepaper or the wiki have many, many pages dedicated to mining... But very simple: solo mining is allmost impossible at current difficulty... If you poolmine, you'll have to reach a certain withdrawal threshold. Once again, i'm not going to explain how mining works exactly...

3) About your 0.00 balance: if you don't mind losing a little bit of privacy, you could potentially post your address in this thread, so we can have a look

4) i never used breadwallet, but since it's an SPV wallet, it shouldn't take a long time to sync... You're not downloading and verifying all blocks, only the block headers...

[odolvlobo]

Hi everyone. I hate to say it but im a newbie with regards to crypto wallets. I found this to be one of the best informative forums online so decided to register and drop a msg. So i've installed my bitcoin wallet. (bread wallet) to be precise and cant figure out how the satoshis or bitcoin are projected or receieved onto the wallet via the unique address. So in the case of mining for example.. Do they automaically sync into the wallet via the address when you  complete each task/mine etc or do you have to wait for a certain amount to build up before you can withdraw them to the wallet?. Ive done a few tasks here and there to test it out however when the wallet app syncs it still shows a 0.00 amount. Im entering the correct address.  Am i doing something wrong?. I need help with this. Hope i managed to explain this correctly. Cheers.

Your wallet creates and maintains addresses. If you want to receive bitcoins into your wallet, you send them to an address that it provides. All transactions are broadcasted to all nodes, as well as all blocks containing/confirming those transactions. Periodically, your wallet requests information from a node in the network about all of its addresses and it will display their current statuses. Transactions typically take several minutes to be confirmed (included in a block) by miners.

If you want more help, you will need to provide relevant transaction ids and addresses

[bct9t]

Without cryptocurrency wallets, cryptocurrencies would just be another idea dead in the water because it’s the only way users like you and I can adopt digital currencies. People need a way to access, store, send, receive and track their digital currency holdings whether it’s Bitcoin, Ethereum or much coveted ICO tokens.

[Anycoin Direct Support]

Hello Riconline,

When you begin a bitcoin transaction you should use the public address bread wallet provided you, which can be found in your wallet under the Receive Money header. The transaction should then give you a certain TxId, this TxId can be entered in a blockexplorer such as blockchain.info. After you search for this transaction and see that it has been confirmed multiple times you can assume the transaction is part of the blockchain, meaning it should have arrived in the address you provided. If it has not been confirmed yet, it could be the case that you have sent too little fee with your transaction. To see how much fee you should send with each transaction you should check out this website here

Another reason why your balance could be incorrect is due to the fact that your bread wallet version is not up to date or it is not synced to the blockchain. Bread wallet has a nice page explaining how you can sync to the blockchain here.

To answer your question on mining, it highly depends on what kind of mining you will be doing. If you provide us with more details on what you plan to we can help you further on this issue.

With kind regards,
The Anycoin Direct team

[talldude]

I don't fully get the question z but I guess you are asking us how bitcoin wallet as a whole functions , well each wallet you create generates a unique address for you, this unique address can be used in other to send and receive bitcoin payment,  this address is called your wallet address just like you have your account number in your banks.  You can get more information by watching YouTube videos or reading articles.

[Sweetyeds84]

I think your wallet is not yet fully sync or stock in some block and thats the main reaosn why your bitcoin wallet is still empty maybe your try to wait first or get a support on that apps developer.

[diorthotis]

Mining of bitcoin is done by massive computer systems called application specific integrated circuits (ASICs). Each of these units can cost up to several thousand dollars, and produce ridiculous noise and heat.

The unique address is where you send the bitcoins. At this stage of bitcoin, it is only practical to buy bitcoin.

Bitcoin is available many places, the easiest way is to use a bitcoin ATM (kiosk). These are often found in shopping malls. Coinbase.com is another option, but is significantly more difficult, and requires a bank account with a bank that will allow coinbase/bitcoin.