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Yes. In the first place, BTC are divisible to eight decimal places, so there would be a lot of these IDs if they were to exist. And there's no reason the divisi
by Arnavion 8y ago
Yes. In the first place, BTC are divisible to eight decimal places, so there would be a lot of these IDs if they were to exist. And there's no reason the divisibility can't change in the future, so these IDs would have to be quite complicated.
A (non-coinbase) transaction is valid if its inputs equal its outputs, and if its inputs come from the outputs of other transactions, which in turn are valid if their inputs come from other transactions, all the way to one or more coinbase transactions. This is sufficient to demonstrate that the transaction is valid - ie it's using coins that exist instead of creating them from thin air. That is all that the protocol cares about.
- Angostura 8y agoThank you for taking the time to clear up my misapprehension.