How do these inputs/outputs make sense for this transaction?

-1

Using coinbase, I transferred $1 in BCH to my friends BCH address. Now I am studying the transaction on a blockchain explorer as a learning exercise.

See here: https://blockchair.com/bitcoin-cash/address/qparr5k69jkt4nwtac3x56fpj67hvx77c572d45pat

And here: https://explorer.bitcoin.com/bch/tx/4d5b77590205bb11c7f562cdfc50aa2092f3c256b7fe9c85ac1dff7c9c403896

Despite having read "Mastering Bitcoin" I am struggling to see how these inputs and outputs make sense.

In particular, I am confused where it says that 0.00622777 BCH is equivalent to $3.55 on one of the inputs on blockchair.This is just wrong. It's closer to 0.99$.

Also, I am confused as to why there are two transactions which are 6 blocks apart. I only made one transaction. Is it trying to form the transaction over different blocks by aggregating different UTXO'S here and there?

COOLBEANS

Posted 2019-01-07T23:42:33.263

Reputation: 161

Answers

0

In particular, I am confused where it says that 0.00622777 BCH is equivalent to $3.55 on one of the inputs on blockchair.This is just wrong. It's closer to 0.99$

The dollar value is provided by the block explorer service, that data is not stored in the blockchain record. It seems they may just have a bug in their code that is displaying the wrong dollar value.

Also, I am confused as to why there are two transactions which are 6 blocks apart. I only made one transaction. Is it trying to form the transaction over different blocks by aggregating different UTXO'S here and there?

No, the first transaction is yours, sending the BCH to that address. The second transaction was assumedly initiated by your friend, it spent the UTXO created by your transaction. The address you sent to is now empty.

chytrik

Posted 2019-01-07T23:42:33.263

Reputation: 10 276

I can see the $0.99 in my friends coinbase account though. So I know that no second transaction that was explicitly created by them. Also, because I transferred $1 and the total inputs come to $1.18, I would have expected just one output with the change of $0.18 going back to my address. But the inputs look exactly like the outputs here: https://explorer.bitcoin.com/bch/tx/4d5b77590205bb11c7f562cdfc50aa2092f3c256b7fe9c85ac1dff7c9c403896 Another bug?

– COOLBEANS – 2019-01-08T02:10:17.790

Ah, I didn't realize your friend was also using Coinbase. In that case, I have no explanation for the movement of the coins, that would depend entirely on Coinbase's system, since they control the keys and you are just asking them to send a tx on your behalf. Being a custodial exchange, the majority of user funds are likely held in offline addresses that do not map 1:1 with user balances. If you would like to use a block explorer to investigate transactions, you should do so using transactions that are not sent to/from/between Coinbase accounts. – chytrik – 2019-01-08T02:13:38.663

Asked: 2019-01-07T23:42:33.263

Viewed: 61 times

Active: 2019-01-07T23:52:05.937