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1. 🇳🇴 Thor — backup account (thorthenorseman@octodon.social)'s status on Monday, 05-Nov-2018 16:36:07 EST 🇳🇴 Thor — backup account

   @sirosenbaum It tracks transactions. There is no explicit notion of Bitcoins as entities on the blockchain, and there is no explicit notion of a wallet balance either. There are only addresses and transactions between them. Transactions are only valid if the transaction histories for the inputs (sender addresses) add up to a sum greater or equal to the sum being transferred to outputs (recipient addresses), including any transaction fees.

   1. 🇳🇴 Thor — backup account (thorthenorseman@octodon.social)'s status on Monday, 05-Nov-2018 16:39:27 EST 🇳🇴 Thor — backup account

      in reply to

      @sirosenbaum The reward for mining Bitcoin is collected by including an extra transaction to the miner from nowhere in the block that is being mined. Once the block is mined, the blockchain considers the transactions in it to be canonical, including the mining reward. There would be some checks performed by other nodes, of course, so a miner can't claim a larger reward than he should, for example, or insert bogus transactions.