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Author Topic: Can the BTC Network invalidate a transaction if....  (Read 1144 times)
Shad3dOne
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June 17, 2011, 05:21:55 PM
 #1

Hi,

Just wondering, can the network invalidate and throw out a transaction if a) the receiving address does not exist... or b) existed but was modified in say ...the last 30 minutes?

Is there a mechanism to warn the client about this or to redirect(bounce back intact so nothing is lost) the transaction back to the client if the transaction is unsuccessful?

Any info would be appreciated.

-Shad3d

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Enochian
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June 17, 2011, 05:32:21 PM
 #2

Hi,

Just wondering, can the network invalidate and throw out a transaction if a) the receiving address does not exist... or b) existed but was modified in say ...the last 30 minutes?

Is there a mechanism to warn the client about this or to redirect(bounce back intact so nothing is lost) the transaction back to the client if the transaction is unsuccessful?

Any info would be appreciated.

-Shad3d

Bitcoin addresses have a 32 bit checksum in them.  So your chances of an error in the address string producing another valid address is less than one in four billion.

Your client will detect when you enter an invalid address.

All valid addresses "exist" as far as the Bitcoin software is concerned.  There is no way to tell that no one holds the private key corresponding to one.

So you can't accidently blackhole your Bitcoins, and there is no need for the transaction invalidation mechanism that you describe.

DamienBlack
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June 17, 2011, 05:36:36 PM
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Addresses have a few letters and numbers (checksums) to ensure that they are valid. If you just just a random string as an address, it will most likely be considered invalid.

But there are millions or millions of millions of millions of trillions of valid addresses. If you send money to any of these 'valid' addresses, then the money will be sent and cannot be revered. There is no way to tell if an address is "in use". You can even make you own address while you computer isn't conected to the internet. The system just counts on the fact that two people will never ever just happen to claim the same address. Every address that will ever exist, exists right now.

A transaction to a valid address is never "unsuccessful". It always makes it. A computer "claiming" that address does not have to be connected.

Short answer, no.

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June 17, 2011, 06:59:52 PM
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Well, it is possible to check if some addresses exist, if they had money added and then sent from; but that only means it is a valid address and that at one point in time someone owned; no way to tell if that address didn't got misplaced afterwards

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