OK, I obviously don't understand something here...
I saw at Clearwallet that I had the ability to "send" my recently acquired XCH to my VIA wallet. ...So, I sent 500 XCH to see what happened.
I guess I expected to see a separate entry in the wallet showing 500 XCH. Instead, the wallet converted the 500 XCH to just .0012 VIAcoin.
I certainly didn't expect this "send" feature to reduce the 5 VIAcoin worth of XCH (5 via = 500 XCH) down to .0012 VIAcoin. Pretty glad I didn't send ALL of my XCH to my wallet. (A 99.98% devaluation is pretty harsh.)
I saw at Clearwallet that I had the ability to "send" my recently acquired XCH to my VIA wallet. ...So, I sent 500 XCH to see what happened.
I guess I expected to see a separate entry in the wallet showing 500 XCH. Instead, the wallet converted the 500 XCH to just .0012 VIAcoin.
I certainly didn't expect this "send" feature to reduce the 5 VIAcoin worth of XCH (5 via = 500 XCH) down to .0012 VIAcoin. Pretty glad I didn't send ALL of my XCH to my wallet. (A 99.98% devaluation is pretty harsh.)
Heh, I can see this is going to be a common question
ClearingHouse records transactional information using the viacoin blockchain. To send XCH from Alice to Bob means sending a small amount of Viacoin to addresses. Those transactions have the metadata in them. This means ClearingHouse can then go back over the blockchain and extract the data from the blockchain.
Does that make sense? When you send XCH the XCH control moves from your address to the destination address. No XCH is reduced, you only pay a tiny *viacoin* fee for making the transaction (just as you would for a normal viacoin transaction).