Who tracks the bitcoins and records the transactions?

[magd 5231]

Miners are the ones who mine cryptocurrency. I don't understand what their relationship is with tracking bitcoin transactions. I think there is another strategy to track bitcoin transactions like a robot tied to the original bitcoin network and it is within the original algorithm for it

[Rezort 846]

Miners are actually a very important part of the cryptocurrency world and market because without them we would have no transactions with crypto as well as the nice speed of them.

[BTC Future 3946]

On 5/17/2020 at 10:19 AM, UT2001 said:

That is a totally correct statement. However I have read somewhere that if you use an email address to send and receive crypto currencies then there are no more miner fees which need to be covered. I have yet to understand how this works however.

This is a method of senting Bitcoin that was registered and approved as pattent. It was created by Coinbase and it is not open source. I haven't read anything about plans on how this will be implemented. I guess Coinbase just wanted to stop others from using this and be the only company that can make an app or something similar that would allow sending Bitcoin with email. Nothing new came up after the patent announcement yet.

[Omar Ommeish 4872]

Yes, this is true and all miners can see all the deals that got the currency, which is why the cryptocurrency is a decentralized currency.

[gourav789 2834]

transaction of Bitcoin is record by blockchain technology our data is feed in blocks of blockchain . i think everybody track transaction of Bitcoin with its hash id we got .

[Rahul11 292]

On 10/15/2019 at 6:16 AM, starwill said:

The miners are the blockchain workers, basically. They are responsible for recording the various transactions on the network, ensuring that each cryptocurrency is unique and that this information is shared with all other participating miners in the community. In cryptocurrency mining, high-level computing equipment is used that, through the solution of algorithms after performing complicated mathematical calculations, ensures that the transactions are real and safe. For this work, the miners receive a reward that makes this activity a profitable business for many companies and individuals.
 

Mining is a profitable business I also agree with that. But for now I don't think so. Because mining cost increase but coins price decrease. And for that miners are disappointed. Many projects launch PoS system to solve this problem.

[TimopheyKa 3900]

I believe that many people track with a special script, an application that analyzes the charts and outputs them, and the miners in turn use this to their advantage, which is very good!

[Soaib khan 1035]

On 2/26/2020 at 12:08 PM, Hashirali said:

I am new in this world . I don't have any knowledge about Crypto and bitcoin. I also want to knows about it who track our Crypto transaction. I will very thankful to you

as far as I know none tracks the records it automatically record in blockchain explorer from where anybody can see that but when we send and receive money minor verify our transaction that this particular transaction is legit or not 

[Iriswolfgang 200]

On 11/9/2019 at 12:09 PM, Rg123 said:

I think it depends on the platform that you wll send some coins example in remittance, if you are sending money from them, they will record you transaction to be assure that you are sending money from them.

Those who are checking and making sure of the right transactions are the miners so they have their own specific jobs here in cryptocurrencies because there are so many sites that they need to check and they need to maintain the balance between the transactions

[CryptoMaxim 3829]

On 15.10.2019 at 04:25, hexwin said:

I have one question for you and that can be continuation from you post.

What will happen and who will track bitcoins and records of transactions when all mining is finished ?
😉 

I do not think that mining will stop after the last block produced. In this case, the network will no longer exist and it will not be possible to make a transfer. Most likely, the Commission will increase.

[Zalaks007 543]

I think the tracking and keeping records of the transactions made with bitcoin is always handled with the Blockchain technology registered with it. Although with all the records keeping I don't think anyone can really control bitcoin. 

[Iriswolfgang 200]

On 6/6/2020 at 12:16 AM, TimopheyKa said:

I believe that many people track with a special script, an application that analyzes the charts and outputs them, and the miners in turn use this to their advantage, which is very good!

I think that the miners in cryptocurrency is the one that is capable and Is responsible for this kinds of things and I think that this is there significance here in cryptocurrency and it is their job so I think that bring a miner here in cryptocurrency is great 

[Dmasked 1840]

You are indeed correct. The original miners record the transactions and distribute them but the major entity in recording and distributing bitcoin transactions is Blockchain. Blockchain is a automated and self managed distributed ledger that records all the entirety of any digital assets and is unalterable.

Edited June 15, 2020 by Dmasked

[Zaino34 0]

This is really complicated. I think this is the job of miners who are rewarded for their work in mining the digital currency and against the currencies that they do. I don’t think anyone else is able to track the transactions that we do.

[Crypto123 0]

On 6/9/2020 at 9:07 AM, CryptoMaxim said:

I do not think that mining will stop after the last block produced. In this case, the network will no longer exist and it will not be possible to make a transfer. Most likely, the Commission will increase.

My friend does not necessarily have to stop the Bitcoin network after mining the last block, then there can be more than one solution, for example the fees can be increased to ensure the miners stay and transfer transactions, also the whales can allocate a portion of their money to maintain the network because if bitcoin collapses they will lose Billions of dollars.

[Calvinpriva 17296]

You are right friend, i heard about this once. Miners are the ones who tracks our transactions and they confirm them through blockchain technology. Mining sites are earning a lot of money because there are many transactions everyday.

[DreamStage 2105]

If i am correct Blockchain is the main server at your disposal and everyone's whos mining that saves / stores all bitcoins transactions and records on the network.

 

I found that by following all data given by blockchain itself from:

https://www.blockchain.com/charts/

 

Also its called public blockchain and held by Bitcoin client as from an individual user:

https://bitcoin.stackexchange.com/questions/1600/where-are-the-users-bitcoins-actually-stored#:~:text=Stored in the public blockchain (held on every computer running,(or mined by you).

[Ayush Singh 1175]

According to my knowledge I don't think that anyone track or record the Bitcoin because Bitcoin is a decentralized currency and it has been introduced in the public and now those coins are only regulated in a sub-divided part which goes on regulation from one user to another and likewise circulations of bitcoin moves on and i dont think thik it will stop until the value of bitcoin tends to be zero.

[CryptoLover21 0]

The miners tracks the bitcoin and records the transaction but we can see the information of the transaction records from the wallet address. 

[iloveyobit 6599]

On 10/15/2019 at 1:25 AM, hexwin said:

I have one question for you and that can be continuation from you post.

What will happen and who will track bitcoins and records of transactions when all mining is finished ?
😉 

I don’t know exactly the answer, but I think, in my opinion, it will be up to the blockchain itself and it will be the one that will be responsible for tracking the transfers.

[Strygwyr 317]

On 10/15/2019 at 8:16 AM, starwill said:

The miners are the blockchain workers, basically. They are responsible for recording the various transactions on the network, ensuring that each cryptocurrency is unique and that this information is shared with all other participating miners in the community. 
 

No. Miners aren't responsible on recording any bitcoin transactions. It is autonomous. They cannot also track any bitcoin transactions. But there are companies now that built technology to track these and help the authorities enforce the law. And bitcoin transactions can be seen by everyone. It is a recorded publicly.

[Tunuu 2235]

Thanks for sharing this knowledge, i never know if the miners are the one who tracks our transactions and records. I guess miners are earning good amount of crypto every day because there are more than 10M transactions every day.

[ismailORG 1]

One of the most important things that maintains the protection and tracking of Bitcoin transactions is the electronic wallets of blockchain and faucethub.

[malik6314193 5449]

I agree with you but i think it is decentralized system which work on it's own way. No body can control it. And that system is blockchain. Probably people choose this system because of this. 

[Whited35 15285]

On 6/20/2020 at 12:20 PM, CryptoLover21 said:

The miners tracks the bitcoin and records the transaction but we can see the information of the transaction records from the wallet address. 

By using explorer to track wallet's address, someone can easily see transferred amounts and wallet's balance but now privacy coins like Zcash, XMR have come so that except sender or receiver , no one can see transferred amounts and wallet balance by tracing address.Since there will be huge numbers of data and complex mathematical problems, miners just mine the transactions they can not modify the data.