Post
Topic
Board Beginners & Help
Re: How do I read the blockchain?
by
merelcoin
on 26/08/2016, 06:00:27 UTC
So I did a nice trade today and received my first decently sized chunk of BTC (compared to the faucets I've usually been doing) for around $200 BTC and when I clicked the link to verify the transaction on the blockchain, it seems to be showing another transaction apart from mine:

https://blockchain.info/tx/f1478eda31c08d76b4f6daf0d7bdda64eba09556d0f4ca096ea09c3c6f1283e2

Can you tell me... is this from the perspective of the sender and are both transactions from the same sender? What does the /tx/ in the URL stand for? Transaction? I usually see the /address/ URL and I'm not used to this one. Also, when it reads "unspent" I'm assuming that the blockchain has tracked that I have not spent the BTC yet. Is there a way to further track which address the money was sent to once I spend it? What if I spend small portions of it... how does that get tracked?

It's rather simple... What you see here is somebody using 2 inputs (~0.11 and ~0.3 BTC) to create 2 outputs: ~0.38 BTC to you, and 0.03BTC is change that is probably sent back to the sender's wallet.

A sender cannot use part of an input, he has to use everything. The part of the inputs that isn't used to generate outputs is the miners fee, and is "lost" (actually, it's an incentive for the miner to add your transaction to a block).
This is why usually, you'll see one or more inputs (the sum of the inputs has to be larger than or equal to the amount you wish to send + the fee) and 1 or more outputs (one output to the receiver, one output to send the change back to the sender).

The rest of your assumptions are correct, tx stands for transaction, address for address, unspent means the output is not yet used as input for a next transaction.