<h2>The Bitcoin blockchain</h2>
<blockquote>
<p>to get paid bitcoin, blockchain wil only release funds to a trusted wallet with good history and transactions</p>
</blockquote>
<p>This is nonsense. At best it is very badly muddled and based on misunderstanding or severe miscommunication. At worst, a scammer is trying to confuse you into doing something foolish with your money.</p>
<p>The blockchain is a set of transaction data that has no information about wallets and needs none.</p>
<p>The blockchain is data. It is not an actor that can perform actions such as releasing funds.</p>
<p>The actors in the Bitcoin network are Bitcoin nodes in the form of ordinary wallets, miners etc. Bitcoin nodes do not need or use any information about other wallets or whether other wallet's history is good or bad.</p>
<hr />
<h2>Businesses with misleading names</h2>
<p>There is a commercial business whose name includes the word Blockchain (one of several) who operate a website at blockchain.com (formerly blockchain.info).</p>
<p>They are no more in charge of the Bitcoin blockchain than dollar.com is in charge of the US dollar.</p>
<p>It might be that your friend is saying that this particular business has some rules about how it's customers can get back money they have paid to the business as a kind of Bitcoin-related investment. Sometimes the service provided to the customer is called an account, sometimes a wallet. Sometimes the thing that is called a wallet is really just an account and not a true Bitcoin wallet.</p>
<p>I don't have any experience with this business but your friend's statements don't match my limited understanding of that business either.</p>
<p>One of the main motivations for the invention of Bitcoin was to eliminate any need for this kind of business - for any kind of trusted third party of this sort.</p>
<hr />
<h2>Sequencing</h2>
<blockquote>
<p>something regarding &quot;sequencing&quot;.</p>
</blockquote>
<p>You might ask your friend to explain this but, since their other assertions seem obviously untrue, I would regard anything they say as needing careful confirmation.</p>
<p>In the Bitcoin network, you can't spend money before you have received it. That is a kind of sequencing. The purpose of Bitcoin mining is to create a globally agreed sequencing of transactions. You can see this in the blockchain as every block has a reference to the preceding block.</p>

CC BY-SA 4.0
2022-08-19T16:58:51.370Z
I assumed OP's "blockchain" was in reference to the company blockchain.info (it's still nonsense, of course).
Pieter Wuille
CC BY-SA 4.0
2022-08-19T16:59:38.720Z
@Pieter, this is a good point and I was just adding a section on that!
RedGrittyBrick
CC BY-SA 4.0
2022-08-19T16:32:20.957Z
2022-08-19T17:02:25.107Z
2022-08-19T17:02:25.107Z
RedGrittyBrick
<p>I was talking to some friends and one mentioned to get paid bitcoin, blockchain wil only release funds to a trusted wallet with good history and transactions, and also something regarding &quot;sequencing&quot;.</p>
<p>I was a little confused about this, could someone clarify this concept?</p>

<transactions><sequence>
Does blockchain "hold" funds?
Bladew2
# Does blockchain "hold" funds?

(Asked by: username_0 on 2022-08-19)

I was talking to some friends and one mentioned to get paid bitcoin, blockchain wil only release funds to a trusted wallet with good history and transactions, and also something regarding "sequencing".

I was a little confused about this, could someone clarify this concept?

**Tags:** transactions, sequence


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## 1 answers

### Answer by username_1 on 2022-08-19. Score: 2

## The Bitcoin blockchain

> to get paid bitcoin, blockchain wil only release funds to a trusted wallet with good history and transactions

This is nonsense. At best it is very badly muddled and based on misunderstanding or severe miscommunication. At worst, a scammer is trying to confuse you into doing something foolish with your money.

The blockchain is a set of transaction data that has no information about wallets and needs none.

The blockchain is data. It is not an actor that can perform actions such as releasing funds.

The actors in the Bitcoin network are Bitcoin nodes in the form of ordinary wallets, miners etc. Bitcoin nodes do not need or use any information about other wallets or whether other wallet's history is good or bad.

---

## Businesses with misleading names

There is a commercial business whose name includes the word Blockchain (one of several) who operate a website at blockchain.com (formerly blockchain.info).

They are no more in charge of the Bitcoin blockchain than dollar.com is in charge of the US dollar.

It might be that your friend is saying that this particular business has some rules about how it's customers can get back money they have paid to the business as a kind of Bitcoin-related investment. Sometimes the service provided to the customer is called an account, sometimes a wallet. Sometimes the thing that is called a wallet is really just an account and not a true Bitcoin wallet.

I don't have any experience with this business but your friend's statements don't match my limited understanding of that business either.

One of the main motivations for the invention of Bitcoin was to eliminate any need for this kind of business - for any kind of trusted third party of this sort.

---

## Sequencing

> something regarding "sequencing".

You might ask your friend to explain this but, since their other assertions seem obviously untrue, I would regard anything they say as needing careful confirmation.

In the Bitcoin network, you can't spend money before you have received it. That is a kind of sequencing. The purpose of Bitcoin mining is to create a globally agreed sequencing of transactions. You can see this in the blockchain as every block has a reference to the preceding block.

> **Comments:**
> **username_2**: I assumed OP's "blockchain" was in reference to the company blockchain.info (it's still nonsense, of course).  
> **username_1**: @username_2, this is a good point and I was just adding a section on that!  

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