What Does This Mean?

[tek inpektor]

Please answer.

 

 

[RuecanOnRails]

What part of it do you want to know?

You're looking the history of this address 16AgCH1aJifVSLWJmJvQxjzaskMmvPn7vQ

It's showing there has been 1 transaction which involved that address.

Here's some details about the transaction http://blockr.io/tx/info/8216443afb2fe98005b17ede9fd1fad17aa4cb30c89e5c09d2f4e6fb4f754337

 

 

What is it that you don't understand or want help with?

[tek inpektor]

What part of it do you want to know?

You're looking the history of this address 16AgCH1aJifVSLWJmJvQxjzaskMmvPn7vQ

It's showing there has been 1 transaction which involved that address.

Here's some details about the transaction http://blockr.io/tx/info/8216443afb2fe98005b17ede9fd1fad17aa4cb30c89e5c09d2f4e6fb4f754337

 

 

What is it that you don't understand or want help with?

What is the 342.7......? I never had that much BTC.

[RuecanOnRails]

The transaction was for 342.7 Bitcoins, it had two outputs.

One address the 16AgCH1a, I'm assuming yours received 0.01586043.

The other received 342.69475132

[RuecanOnRails]

Here's the transaction tree if you want to follow the 342 Bitcoins.

https://blockchain.info/tree/56215635

[tek inpektor]

Here's the transaction tree if you want to follow the 342 Bitcoins.

https://blockchain.info/tree/56215635

So what does it mean? 342 Bitcoins were sent to me? From me?

My BTC wallets are: 

1HU5mqBEfQ7eCDTKncUhP84QL5M7TVLP85

and

16AgCH1aJifVSLWJmJvQxjzaskMmvPn7vQ

[RuecanOnRails]

14ECuiAjcjqYbQ4Zypv6K1t7t1FMNeA5p7 This is the address of the pool, exchange, or whatever. It held 342 Bitcoins.

 

You requested a withdrawal of 0.015 Bitcoins to 16AgCH1a.

 

14ECui created a transaction which sent you 0.015 then sent the change to a new address that they control. The transaction had 342 Bitcoins being moved, but only 0.015 were sent to an address you control.

 

Read into Bitcoin change address's and how they work https://en.bitcoin.it/wiki/Change It should help explain it a little better.

 

"When the output of a transaction is used as the input of another transaction, it must be spent in its entirety. Sometimes the coin value of the output is higher than what the user wishes to pay. In this case, the client generates a new Bitcoin address, and sends the difference back to this address. This is known as change."

[tek inpektor]

14ECuiAjcjqYbQ4Zypv6K1t7t1FMNeA5p7 This is the address of the pool, exchange, or whatever. It held 342 Bitcoins.

 

You requested a withdrawal of 0.015 Bitcoins to 16AgCH1a.

 

14ECui created a transaction which sent you 0.015 then sent the change to a new address that they control. The transaction had 342 Bitcoins being moved, but only 0.015 were sent to an address you control.

 

Read into Bitcoin change address's and how they work https://en.bitcoin.it/wiki/Change It should help explain it a little better.

 

"When the output of a transaction is used as the input of another transaction, it must be spent in its entirety. Sometimes the coin value of the output is higher than what the user wishes to pay. In this case, the client generates a new Bitcoin address, and sends the difference back to this address. This is known as change."

I understood it fine the way you put it. I was wondering why I had a new BTC address, I thought I generated on on accident. Thanks for explaining.

[RuecanOnRails]

Every transaction you make should generate a new address that gets used for change.

 

In the Bitcoin core QT wallet, you can enable advanced options with coin control that allow you to specify inputs to use and manually enter change addresses. If you were so inclined you could have the change address point right back to your main receiving address; Keep in mind it's recommended to use new addresses for every transaction.