Post
Topic
Board Beginners & Help
Re: How the Receiver knows that he/she got Bitcoins
by
Colin Miner
on 14/03/2014, 16:18:24 UTC
Hi,

  I have 2 questions regarding Bitcoin Transactions.

  Could someone clarify in detail
     
   1. How the receiver knows that he or she got the Bitcoins


As has been stated, the transaction of the bitcoins is held in the public ledger that is the bitcoin blockchain. You can see this online, or keep a copy on your own computer and the bitcoin-qt client will alert you when a transaction on the blockchain includes one of your bitcoin addresses.



   2. What will happen if there are no Minors in the network

Thanks in Advance
 

If there are no miners, the blockchain will not get updated with new transactions, so bitcoins can't be spent as the new transaction will not be included on the blockchain (the blockchain is not being updated).