Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
DougTanner
on 08/11/2013, 01:24:57 UTC
How do the miners get the coins onto Gox in the first place if they can't be spent??
They are part of the coinbase transaction.

Sorry I'm not following, how did CoinBase get into this?

Not CoinBase the company, or whatever it is..

He means miners are using their Gox deposit address to receive mining rewards as part of the generation TX in a new block. (25 new coins in existence)

While coins sent which existed before require 6 confirmations, newly minted coins sent in this fashion require 120 confirms before they are spendable.

Ok, thanks.