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Author Topic: about blockchain "unspent"...  (Read 106 times)
projects2018
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March 21, 2018, 04:42:08 PM
 #1

I read about blockchain "unspent" (as I'm personally interested) and I'm a little confused.
Not surprised...as we are in Internet ...the place where everything can happen!

Last March 12th I transfered a little amount (0.0038 Btc more or less 30$ but it could be the same with 3,000 0r 30,000....ok?)
from my wallet in Xapo to my wallet in Blockchain.
Now (March 21st) this little amount is still "unspent"....and I read that this is a good news! wow!

In my word these are called "lost money" but perhaps I misunderstood...I read that I will be able to spend them in the

future...and I find this ....funny(?) which future? when? and even ....why Blockchain hold my money.....

Really I should be very glad if someone can explain this mistery and if it's possible when I will hane my money in my wallet...

Thanks. Mauro

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ranochigo
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March 21, 2018, 04:45:51 PM
Merited by suchmoon (1)
 #2

They are supposed to be unspent. Bitcoin exists as UTXO (Unspent Transaction Outputs) and they are basically the inputs of your transactions. When you transfer the Bitcoins from Address A to Address B, some UTXOs are spent in Address A and new UTXOs are created in Address B. If its unspent, it simply means that you haven't spent your coins yet.

Blockchain.info isn't holding your coins hostage or anything. If you haven't spent the coins, then it would exist as an unspent output. You can spend them anytime you want. Whoever told you that is wrong.

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March 21, 2018, 05:26:46 PM
 #3

if it's possible when I will hane my money in my wallet...
"Unspent" simply means "it's in your wallet".

Think of "spent" as an empty wallet in your back pocket, and think of "unspent" as a full wallet.

GoldenLad
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March 21, 2018, 09:04:46 PM
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At my initial stage, I was also confused as you are now.
Just like Loyce stated. The thing is; So far it has reached the normal confirmation for example 1000 or so. Then what the 'unspent' means is that your $30 worth of BTC have safely arrived your destinated wallet successfully. And it can only turn to 'spent' if you use them or sent it to someone. But if you are not seeing your coin in the wallet, then its possible that you might have made a mistake, probably in the receiving address.
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March 21, 2018, 10:20:10 PM
 #5

I read about blockchain "unspent" (as I'm personally interested) and I'm a little confused.
---snip---
Now (March 21st) this little amount is still "unspent"....and I read that this is a good news! wow!
"unspent", why is it so hard to understand this simple word?
if you translate the word, it means "not spent" or not used or available
in bank account terms, it means ready current balance that you can use

future...and I find this ....funny(?) which future? when? and even ....why Blockchain hold my money.....
you are talking about blockchain.info wallet correct?
blockchain.info never holds your money, you own the key, you can spend it anytime you want
did you try logging in to you blockchain.info account and try spending it?

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March 22, 2018, 06:02:54 PM
 #6

The thing is; So far it has reached the normal confirmation for example 1000 or so.

Im not sure what you exactly mean with 'normal confirmation'. But a transactions 'receives' the first confirmation after getting included into a block.
Each mined block after this first confirmations adds another one (assuming the new block is mined upon the chain which included the block with the transaction).
2-3 confirmation are enough for 'standard' amounts. For larger amounts 6 confirmation are recommended.



Then what the 'unspent' means is that your $30 worth of BTC have safely arrived your destinated wallet successfully.

Thats not completely correct. Most block explorer show the outputs of unconfirmed transactions as 'unspent' too.
The 'safety' of arrival is 'measured' in the amount of confirmations a transaction got.



And it can only turn to 'spent' if you use them or sent it to someone.

Or if someone else uses those UTXO in a transaction.
As long as the block containing the transactoin is in the longest valid chain and the coins 'have not been moved yet', they will stay 'unspent'.

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