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Note that many Coinbase/Bitpay/whatever transactions will be off-chain - much like PayPal, you can have an account balance that is just transferred in Coinbase'
by renata 12y ago
Note that many Coinbase/Bitpay/whatever transactions will be off-chain - much like PayPal, you can have an account balance that is just transferred in Coinbase's ledger but doesn't actually appear to be transferred on the block chain.
- aeturnum 12y agoI thought transactions like that weren't supported by the bitcoin protocol. Are there any resources that explain how this works with the general blockchain?
- sanswork 12y agoIt doesn't work with the general blockchain. If I have 1btc in my coinbase account and I send it to your coinbase account then it never shows up on the block chain. I think people hugely overestimate how much volume is happening with this though.