The Change Transaction?

[RigilK]

This is one that's been messing with my mind for a bit. Right, so say Peter wants to send 6XBT to Sally. The sum of none of the transactions in Peter's wallet adds up to exactly the desired 6XBT so he sends 7 instead and receives one 1XBT in change from Sally. Now what happens if Sally doesn't have exactly 1XBT in her wallet to send Peter? Would the change transaction then be, say, 1.5XBT and then she gets 0.5XBT back in change from Peter and so it goes on until either of them have the exact amount to send back. I assume this doesn't happen, but then could you please explain to me what does happen.

[_n74]

My understanding is that change doesn't work that way, it doesn't come from Sally's wallet, but rather yours. Best explanation I found thus far was on stack exchange. I'm fairly sure I can't post links yet, so just Google the term "how-does-change-work-in-a-bitcoin-transaction" and in the first result (stackexchange) there is a pretty decent explanation.

[Botploy]

This is one that's been messing with my mind for a bit. Right, so say Peter wants to send 6XBT to Sally. The sum of none of the transactions in Peter's wallet adds up to exactly the desired 6XBT so he sends 7 instead and receives one 1XBT in change from Sally. Now what happens if Sally doesn't have exactly 1XBT in her wallet to send Peter? Would the change transaction then be, say, 1.5XBT and then she gets 0.5XBT back in change from Peter and so it goes on until either of them have the exact amount to send back. I assume this doesn't happen, but then could you please explain to me what does happen.

The change doesn't work that way.
Please refer to the bitcoin wiki for details. https://bitcoin.it/wiki/Change

[Bhi41]

This is one that's been messing with my mind for a bit. Right, so say Peter wants to send 6XBT to Sally. The sum of none of the transactions in Peter's wallet adds up to exactly the desired 6XBT so he sends 7 instead and receives one 1XBT in change from Sally. Now what happens if Sally doesn't have exactly 1XBT in her wallet to send Peter? Would the change transaction then be, say, 1.5XBT and then she gets 0.5XBT back in change from Peter and so it goes on until either of them have the exact amount to send back. I assume this doesn't happen, but then could you please explain to me what does happen.

The change doesn't work that way.
Please refer to the bitcoin wiki for details. https://bitcoin.it/wiki/Change

It seems the bitcoin wiki is down

[shorena]

This is one that's been messing with my mind for a bit. Right, so say Peter wants to send 6XBT to Sally. The sum of none of the transactions in Peter's wallet adds up to exactly the desired 6XBT so he sends 7 instead and receives one 1XBT in change from Sally. Now what happens if Sally doesn't have exactly 1XBT in her wallet to send Peter? Would the change transaction then be, say, 1.5XBT and then she gets 0.5XBT back in change from Peter and so it goes on until either of them have the exact amount to send back. I assume this doesn't happen, but then could you please explain to me what does happen.

The change doesn't work that way.
Please refer to the bitcoin wiki for details. https://bitcoin.it/wiki/Change

It seems the bitcoin wiki is down

try this one. No idea why the person who posted this couldnt link it.

http://bitcoin.stackexchange.com/questions/736/how-does-change-work-in-a-bitcoin-transaction

[theymos]

A single transaction can send money to many people at once. In your example, you'd send 6 to Sally and 1 to yourself in a single transaction. You don't need to trust the recipient.