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Author Topic: Hypothetical Bitcoin client question  (Read 498 times)
Yatta99
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June 22, 2011, 08:51:25 PM
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Scenario: You have a bitcoin wallet with five addresses, each of which has received some bitcoins. The wallet holds a total of 10.01 BTC. You have the wallet generate a new address and then tell the client to send 10 BTC to that new address with a fee of .01 BTC. What happens next?

A. The 10.01 BTC is sent out to the network from the five addresses (zeroing them out). 10 BTC is returned to the new address from the network which collects the .01 BTC as a fee.

B. The client consolidates the five addresses into the sixth address locally and then sends a ledger update onto the network with the .01 BTC fee.

C. The client sees that it is simply sending bitcoins to itself since it holds both addresses and does nothing.

D. The client doesn't know how to handle having both addresses and crashes.

E. Something else.

Logically, it should be option A that happens although option B is also a possibility... but what really does happen?

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compro01
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June 22, 2011, 09:14:22 PM
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it's A.

The balance won't have transferred between the addresses until the transaction is included into a block, which B and C wouldn't allow for.  D obviously doesn't happen.
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June 22, 2011, 10:16:18 PM
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Yes, it's A.  The client doesn't care that you are sending your coins to your own address, the transaction still has to be included into a block just the same.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
Yatta99
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June 22, 2011, 10:58:51 PM
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Ok, thanks guys. I sometimes need to be hit with The Obvious StickTM for things to sink in and stay Grin

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