Who tracks the bitcoins and records the transactions?

[BitcryptoHan 2557]

17 hours ago, Muntaha097 said:

Well, I want to say that, it is possible to track bitcoin, because there are many companies that are doing it. since It's inception, bitcoin has been thought of as an anonymous way to move money.

It is possible to track bitcoin transaction, anybody can track it not only companies. Bitcoin is not anonymous. 

On 6/5/2020 at 5:16 PM, 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!

Only miners do the work, no other person do it, buy as for tracking, anyone can track crypto transaction as blockchain are completely transparent. 

[Projectcrypto 4382]

Miners are the ones responsible for monitoring and recoding every single transaction carried out in the blockchain wallet and for that reason they receive a reward for the work they do carry out for the public since they make use of mining equipment, computer hardware's and electricity power to accomplish such task.

[Tannah 1228]

I'm disagree with you.  None can see the transaction of bitcoin. Many dishonest people use bitcoin illegally as Their transaction method. If all the details of the transaction had been recorded, the unscrupulous traders would have been caught very quickly        

[Abiaan 1209]

i dont think any miners will share their account of mined bitcoins with others and best and worst both thing about bitcoin is it cannot be tracked and is 100% decentralized 

[Samiya45 27]

It just so happens that it is the job of the miners as a supervisor to record transactions for crypto poisoning They are refined on the basis of good quality of their high quality mining equipment shots

[Abiaan 1209]

A good question you have got out there , lemme try to make you understand about it from different perspectives

 

Yes its true that almost 18 million bitcoins have already been mined but after certain period of time and certain amount of rewards a new changes are made in rewarding system and thats called halving which makes rewarding into half 

 

now from no mining perspective : yes it is said that by 2140 all 21millions of bitcoins will be mined if the halving system doesnt goes under milli satoshi, micro satoshi, nano satoshi, soon 

 

now from forever mining: here if halving goes under milli satoshi, micro satoshi , nano satoshi, if the halving doesnt goes under such unit then only thats gonna happen if not then it will all be mined  

 

There are lot of theories about it but still not clear about it

On 10/15/2019 at 6:24 AM, hexwin said:

What??? Mining forever?  Maybe in your dreams....
And I don't understand what steps and 100 meters are you talking about 🙄

Don't you know that there will be total of 21,000,000 Bitcoins should be mined.
After that there will be no mining... and that is around year 2140.

We now have around 17,992,450 bitcoins in circulation and mined.

[Solex 2262]

Miners are the ones in the position of mining blockchain and they received reward for that task the accomplish by them making use of electricity power,some equipment, computer device and programming skills. Bitcoin mining is done by specialized computers and the main role of the miners is to secure the network and process each and every bitcoin transaction carried out in blockchain network.

[Moaz 7239]

It is true that the blockchain network includes a record that contains all the bitcoin transactions that take place in the crypto world where the miners in the blockchain record all the transactions for bitcoin and get rewards for that.

[madu8888 8]

I guess the reward of mining is enough income for a person to do this kind of work. The mining process is extremely complex and difficult to manage. In particular you keep transactions between both parties. One of your responsibilities is to provide data within the blockchain. .

[hasan007 206]

May be the transaction are not track by anyone. But one thing should to be clear that , the miners are actually responsible for this. And the blockchin are accepting the transaction. these two thing play a vital role.

[galataapustina 36]

All exchanges is naturally recorded in the blockchain. Blockchain as the name recommends, is the chain of squares, where exchanges in bitcoin are spared. A blockchain information base is overseen self-sufficiently utilizing distributed organization.

[Sarahden111 1231]

The platforms are generally responsible for the users' money, and the money is transferred by the whales in huge quantities, and thus the transfer currencies are observed by the platforms and recorded, as well as the transmissions are tracked by the users from the scans on the blockchain networks.

[Alex9876r 1408]

The transmissions can be tracked through the Etherion network scanner or other networks and know the quantity, the address of the wallet and other information, and this is something that the platforms do when asked to do so, or for example, as happened with the kucoin platform, where some currencies were tracked and recovered, but with the emergence of decentralized platforms, it became difficult to recover them.

[Fixfin 2569]

Miners are building the block full with transactions and they enter a race to mine the next block between them. Once the block is mined it is transmited in the network and it is validated by the active nodes and is added on the blockchain. After six confirmations (six new blocks above this one) the transactions are considered safe.

[cryptovlek 2597]

The miners don't track the records and the bitcoins, they mine a block and make sure that it checks with all the consensus rules of bitcoin. They do have all the blockchain downloaded though but when they mine a block it is transmited to the network and checked again if it uses all the consensus rules.

[kryptonick 2659]

Miners do that and they are forced to follow the rules and the protocols because if they don't and try to cheat they spend the electricity for nothing and never earn a block. If they try to mine a block without following the set of rules then the block will not be validated and they end with only cost.

[percare 3192]

Miners are securing the blockchain, they perform the transactions and validate them with mining blocks and the power consumption of elecectricity helps the network. Bitcoin is the most secure network and Ethereum too is secure enough and have never been 51% attacked.

[JeanC 86]

That's right, my friend, the miners record these transactions, however in my opinion anyone can trace a transaction with the difference that it remains anonymous.

[Koussaygame07 103]

The blockchain records all the different transactions using high-level computing equipment, and in order to be real, it tries in the future to link coin mining with mining from mines, so miners get a reward.

[arqjairoc 112]

I remember the anecdote of the pizza, today it would be one of the largest bitcoin transactions in the world, although the largest sellers always keep their transactions in the dark.

[yonkii 3205]

My friend, thanks a lot for this amazing article, I have now understood a lot about the importance of miners and how their hard work and sweat down in their mines is paying for the tracking of the bitcoins and the recording of the transactions in the blockchain. I will try to learn more about this high-level computing equipment that miners are using, they seem to be very advanced and ahead of the rest of us. 

On 10/15/2019 at 3:16 AM, starwill said:

performing complicated mathematical calculations

What calculations are they performing? Can we have something more on this?

[annayks 2314]

The miners are only a part of the blockchain. Actually it is full nodes that perform the validation of the new blocks and it is the blockchain it self they are recorded permanently. The miners find a block and if they were following all the rules this block is accepted by the majority of the nodes.

[Maharba 237]

Noooo when the calculated blocks of any Crypto coin, will reach the last one, (and this will happen in some time in the future) the act of mining that coin will stop at all, the only activity will continue will be the tradeing of that coin and the people who keep it.

[Jeofrey 162]

On 10/15/2019 at 8:25 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 am confused by the question given. 

 

I believe that even when all mining is finished, transactions and records are still on the miners and the blockchain workers. Of course they would not want the remaining 'claimed' and 'un-converted' bitcoins to waste. It's still a gain for them. And if it seems that there aren't anymore expected bitcoin transactions, of course end of bitcoin.

[zhoutong 2188]

The miners are not tracking the bitcoins as far as I know. They create blocks, but maybe I'm wrong. Anyway the miners are an integral part of the bitcoin ecosystem and they receive good rewards for that. They deserve it because they keep the network secure and running without interuption.