Guess I need to read up more on confirmations. I've heard OF them and knew it's part of the process... but never quite got into why or how confirmations come into play.

Why would anyone want a client or wallet that has no confirmations? Or - well - I guess if I understand the confirmations better, I'll then understand why some people don't mind skipping that part.

Thanks for all the input!

Ahhhhh - I see! I SEE!

Thank you!

There are now 7 confirmations, so I assume at some point the system considers the entire transaction "confirmed" on its own.

And THIS is exactly why I started with small amounts - to get a feel for the system.

THANK YOU; you're right - that was easy (just did it.)

BUT... now it says "unconfirmed transaction" over in the blockchain wallet. Is there something *I* must to do confirm? Or is this something the "system" does and I have no control over that part?

Okay... sorry that I typed the previous response as this reply posted.
That's what I was wondering; thank you... so I SHOULD take it out of localbitcoins and withdraw to the blockchain wallet; as I originally intended....

right?   

Thank you both for trying to help me...

I'm.sooooooo.confused.

   

I know I'm probably not using the correct terminology.

I have a wallet on blockchain.

I went to localbitcoins and found a seller. Made a bank deposit and came home.

Localbitcoins then showed my successful receipt of (albeit small fractional) funds...

It says it's in my "localbitcoins wallet."

Yep, now I see that I have a localbitcoins wallet and funds there.

However - I have no idea what those funds are attached to... what the address is or keys are or anything of the sort. I just... have funds there.

I was confused. I gave the seller the address for my blockchain wallet and thought that's where the BTC would go instead.

It didn't.

I'm still confused. I see that I can send the BTC that are in the localbitcoins wallet to my blockchain address myself... but I'm not sure if that's what I should do.

So - I have funds in localbitcoins but don't see an address or key, don't understand how to "confirm" or whatever and I'm unsure if I should send the BTC to my blockchain wallet, which I only have a penny or two in.

So, sooooooo lost.

 

If I wasn't confused enough already about how the whole BTC wallet/key/client stuff works, now I guess I'm confused about Newbie forum posts.

After buying my first fraction of BTC's from someone on localbitcoins yesterday, I came here for clarification/next steps. The post shows under my profile, but not under the Newbie section of the forum... not even right after I posted it.

It seems that if it were in the rules that I can't create more than one post a few days after joining (which I didn't see in the rules,) then I would get some sort of error message regarding restrictions... no? But not only did it never show up in the Newbie category, there are no responses - which leads me to believe it just never posted anywhere.

I guess I'll see if this one posts... and if so, I'd love to be able to ask a few questions regarding "next steps" following yesterday's BTC purchase.

Thanks!

I used localbitcoins and found a seller w/great FB... they deposited the BTC immediately; it posted by the time I was home from the bank!

Yayyyy!

BUT... now I have a wallet on localbitcoins; I didn't expect that. Somehow I thought that the address I gave was strictly associated with my blockchain wallet and I'd see the post there.

So - now I have the same address in two different "clients" (or places; whatever) and I can see the balance associated with that address in the localbitcoin wallet but not the blockchain wallet...

Why? Does this mean I'm stuck with funds for the same address in two different wallets? I was *just* getting the hang (sorta/kinda) of how to manage the blockchain wallet, and now this localbitcoin wallet appears.

Am I making any sense?

This is exactly the reason I started with a very small amount; in-case something took my by surprise.

Thank you to all who helped me get started with choosing a wallet/client etc...

I generally consider myself relatively intelligent, but I don't feel so smart right now... even after spending ALL of last week watching videos, reading and getting myself mentally prepped to begin this venture.

So two people sent me small fractions over the weekend to get started...

I see them in my Blockchain wallet...

I went to the import/export tab and clicked on "import using paper wallet" and up popped a printable sheet with two QR codes, my addy and what I assume is the private key beneath the addy.. along with a mnemonic that is different than the original one I was given when I set up the wallet...

Questions:

1. What if I hadn't printed this sheet? Like, if I were out of printer ink or something... would I have lost access to the key associated with this address forever?

2. What would scan these QR codes, and when would I ever scan them (assuming my intent is to save BTC, not spend anytime soon...)

3. Is scanning just an alternative way to access the key/could the key be used without the scan?

4. Am I correct that the tiny series of numbers/letters etc beneath my BTC address is the key?

5. What is with the two-step verification? Is that necessary when I'm not spending? At what point is that relevant?

6. I'd like to choose a seller on localbitcoins w/high feedback, etc to buy a small amount of BTC from today. I know that'll mean going to a bank, etc - I've been reading through the different sellers' requirements, etc... but am I ready for this step, or would I be risking losing $ because of the fact that I'm not really understanding the whole "key" process/paper wallets, etc?

7. So my private key is sitting online in Blockchain, essentially, because it came from my wallet... right? So... oh, forget it... I'm just SOOOOO confused.

Thanks in advanced to any and all who can help me start getting the hang of this!

?      

Thank you to all who helped me get started with choosing a wallet/client etc...

I generally consider myself relatively intelligent, but I don't feel so smart right now... even after spending ALL of last week watching videos, reading and getting myself mentally prepped to begin this venture.

So two people sent me small fractions over the weekend to get started...

I see them in my Blockchain wallet...

I went to the import/export tab and clicked on "import using paper wallet" and up popped a printable sheet with two QR codes, my addy and what I assume is the private key beneath the addy.. along with a mnemonic that is different than the original one I was given when I set up the wallet...

Questions:

1. What if I hadn't printed this sheet? Like, if I were out of printer ink or something... would I have lost access to the key associated with this address forever?

2. What would scan these QR codes, and when would I ever scan them (assuming my intent is to save BTC, not spend anytime soon...)

3. Is scanning just an alternative way to access the key/could the key be used without the scan?

4. Am I correct that the tiny series of numbers/letters etc beneath my BTC address is the key?

5. What is with the two-step verification? Is that necessary when I'm not spending? At what point is that relevant?

6. I'd like to choose a seller on localbitcoins w/high feedback, etc to buy a small amount of BTC from today. I know that'll mean going to a bank, etc - I've been reading through the different sellers' requirements, etc... but am I ready for this step, or would I be risking losing $ because of the fact that I'm not really understanding the whole "key" process/paper wallets, etc?

7. So my private key is sitting online in Blockchain, essentially, because it came from my wallet... right? So... oh, forget it... I'm just SOOOOO confused.

Thanks in advanced to any and all who can help me start getting the hang of this!

@Birdy - Thank you again.

I see there are a few conversations going on in here at the same time, so maybe I should start a new thread with my new phase/questions. lol

Everyone here has been so helpful!

Thank you so much, Birdie.

Now - is that it? Is there something I should be doing with the deposits that you and another person sent to me?

What about the "private key" and what-not?

I'd like to find someone on localbitcoin to buy a small bit from... but nervous that I'm still missing something.

This forum is such a huge help; thanks to everyone for all your replies!

WOW - thanks everyone for all the great responses and advice!

I decided to go with blockchain for now... seems that I'm all set up.

I suppose the things that still seem muddled will start clearing up as I go through the motions.

So - on that note...

@Birdy - THANK you; I'm eager to get the feel for a transaction but didn't want to ask anyone!

Address is:

128FXUn67GcR7DXy43ohdA9vGzZpd9sh6h

Complete and total Newbie, here.

I *just* heard of Bitcoins on Monday, for the first time ever.
I stopped everything and have researched, read, studied and explored nearly nonstop since Monday morning.
Here I am at Friday morning - and want to be sure that the things I believe I *do* understand are correct;
...and looking for clarification in layman's terms of the things I am still confused about.

Are my concepts correct on these notes?

1. A *client* and a *wallet* are one in the same, in that I can't use Coinbase as my client, but have Electrum as a wallet for the same address... I need to pick either/or, correct?

2. I have to choose one device to download the wallet to. Anyone who hacks, steals or otherwise has access to my device would then have access to my Bitcoins, unless I take them off the device and put them in "cold storage" (which is the same thing as "paper wallet.)

3. Paper wallets/cold storage is only truly safe if every trace of "private keys" is wiped from the device they were originally created on, correct?

4. Best way to get my "feet wet" would be to choose a wallet and have someone send me a minimal fraction of Bitcoins, right?

5. My coins are vulnerable to attack/disappearance anytime I'm using a client/wallet... which is why cold storage/paper wallet is always best - if I have no intent to spend. Am I on track?

But now... here's where my heart starts thumping in frustrated confusion:

1. Clients get robbed/hacked more and more recently, and it seems likely that this will continue being an issue because there can never be 100% security when you're entrusting a client with your wallet... SO... why would anyone bother using a client, to begin with? Shouldn't I just stay on the safe side by skipping online storage and go directly to paper wallet? (side note - I'm planning to put in very minimal amounts initially, until I get the hang of the whole system.)

2. Is there a way to skip having a client and go straight to offline wallet? (sorry if I sound repetitive - I'm just trying to wrap my head around all of this via different wording.)

3. I am soooooo lost re: private keys. All the articles I've read, discussions I've followed and videos I've watched have still rendered me LOST. Say John Doe sends me a tiny fraction of a BTC to help me get started. Now my wallet generates a key for the address John sent funds to. I decide to add funds to the wallet by buying BTC from someone on eBay... would I have the seller send the funds to the exact same address? And if so - would I then get another key for that address to replace the first, or would it be two keys for the one address, or would the key remain the same no matter how many funds add up in that address? And then... why would anyone ever need more than one or two addresses? (I can see having one for saving and one for using/trading/sending/selling, etc... but why do some people have numerous addresses?)

4. If anyone/everyone can see how much BTC each address has, this means that every time you give an address out for people to send funds to, they can go look up how much BTC you already have... right? Isn't that like opening your wallet in front of the cashier and pouring your $ out on the counter for them to see?  Or... does that kinda answer the previous question (duh, think I just answered the last question on my own, right? Hence... why people have numerous addresses?!?)

5. Please, please... someone just tell me which client/wallet to get started with. The goal is to get it offline, but I really need to get a feel for the system now. I thought I read that Coinbase is very vulnerable to hacking, other issues and potential future regulation. I thought Electrum sounded like a perfect alternative, since it seems easier to go offline with. Bitcoin QT sounds good - maybe - but I'm overwhelmed with information at this point.

Any/all advice and help is welcome and wanted!
Thanks!