<p>Really there are no bitcoins, just transactions. A transaction will have outputs of specific amounts, and if you have the key to spend a certain output but haven't spent it yet, it is known as your unspent transaction output (UTXO), and the amount of all your UTXOs is known as your balance. The private key is what allows you to spend a transaction output, it provides the proof you own it. And you don't send your private key when you make a new transaction, you simply sign a new transaction with your key to spend the UTXO you 'own', and create new outputs owned by the recipient, usually by assigning the outputs of the new transaction to their public key / bitcoin address.</p>

<p>The miners are also given bitcoins through special transactions known as coinbase transactions, which don't have inputs because they are creating brand new coins, but still have outputs to be spent by the miner.</p>

CC BY-SA 3.0
2017-07-28T11:07:29.337Z
Technically, coinbase transactions have a unique, special, input that isn't valid in any transaction but a coinbase transactions.
alcio
CC BY-SA 3.0
2017-07-28T11:08:36.843Z
Yes but it's not an input from another transaction output so that's irrelevant details that don't help explain the question.
meshcollider
CC BY-SA 3.0
2017-07-28T11:25:48.197Z
True, it was more of a pedantic remark :)
alcio
CC BY-SA 3.0
2017-07-28T10:57:32.940Z
2017-07-28T10:57:32.940Z
meshcollider
<p>I read about bitcoins, block chain etc, but i am confused in one basic element. </p>

<p>What actually a bitcoin, is bitcoin actually a pseudo-random private key that is assigned to miner as a reward when he solves computational puzzle?</p>

<p>When person A sends bitcoin transaction to person B, actually means he gives private key of those bitcoins to person B?</p>

<transactions><blockchain>
Is bitcoin actually some sort of private key?
Infinity
# Is bitcoin actually some sort of private key?

(Asked by: username_0 on 2017-07-28)

I read about bitcoins, block chain etc, but i am confused in one basic element.

What actually a bitcoin, is bitcoin actually a pseudo-random private key that is assigned to miner as a reward when he solves computational puzzle?

When person A sends bitcoin transaction to person B, actually means he gives private key of those bitcoins to person B?

**Tags:** transactions, blockchain


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## 1 answers

### Answer by username_1 on 2017-07-28. Score: 3 | Accepted answer

Really there are no bitcoins, just transactions. A transaction will have outputs of specific amounts, and if you have the key to spend a certain output but haven't spent it yet, it is known as your unspent transaction output (UTXO), and the amount of all your UTXOs is known as your balance. The private key is what allows you to spend a transaction output, it provides the proof you own it. And you don't send your private key when you make a new transaction, you simply sign a new transaction with your key to spend the UTXO you 'own', and create new outputs owned by the recipient, usually by assigning the outputs of the new transaction to their public key / bitcoin address.

The miners are also given bitcoins through special transactions known as coinbase transactions, which don't have inputs because they are creating brand new coins, but still have outputs to be spent by the miner.

> **Comments:**
> **username_2**: Technically, coinbase transactions have a unique, special, input that isn't valid in any transaction but a coinbase transactions.  
> **username_1**: Yes but it's not an input from another transaction output so that's irrelevant details that don't help explain the question.  
> **username_2**: True, it was more of a pedantic remark :)  

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