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Author Topic: Sending BTC to an address...  (Read 853 times)
BittBurger (OP)
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November 30, 2013, 04:27:31 AM
 #1

If you execute a send from an online exchange to a brand new address, at a brand new install of Bitcoin QT ... before it has finished downloading the blockchain .... will that withdrawal still go through?  

Does QT have to finish downloading the blockchain before it announces your new public address to the network?


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BittBurger (OP)
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November 30, 2013, 04:45:07 AM
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Thanks!

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dserrano5
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November 30, 2013, 11:15:50 AM
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No.

I diagree. OP is withdrawing funds to one of his addresses, which mean that he has the corresponding private key. Coins sent to the adress are usable only if you're up to date, however transactions sent to that address are simply stored in the blockchain even if the client is not up to date.
Abdussamad
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November 30, 2013, 01:34:44 PM
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Thanks!

Addresses that have never even touched an online computer will also work. We call them paper wallets.
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November 30, 2013, 01:56:28 PM
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No.

I diagree. OP is withdrawing funds to one of his addresses, which mean that he has the corresponding private key. Coins sent to the adress are usable only if you're up to date, however transactions sent to that address are simply stored in the blockchain even if the client is not up to date.
I was confused as well at first, but his no was to the second question in the OP, do I have to download the entire blockchain first.
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November 30, 2013, 02:20:20 PM
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Quote
before it announces your new public address to the network
NONONO.
The new address is never "announced". What matter is if you have the private key for it, so you can spend the coins in that address, nothing more.

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