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public/subjects/blockchain/send-transaction/README.md

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Send Transaction

The purpose of this exercise is to create a simple Bitcoin transaction locally using the command line. As we use new tools this exercise is guided.

Instructions

  • Install a Bitcoin node. There are two solutions :

    • Use a preconfigured image for a virtual machine such as cryptotux
    • Install manually by downloading and installing the Bitcoin Core software from github.

  • Launch Bitcoin core daemon on regtest network. You can do so with bitcoind -regtest -fallbackfee=0.00000003 assuming the executable is in your shell's path.

  • Create manually a wallet and two addresses on Bitcoin regtest. You may do this by running the following commands

    bitcoin-cli createwallet "testwallet"
bitcoin-cli getnewaddress
bitcoin-cli getnewaddress

  • Generate 101 blocks to get fresh bitcoins. You need 101 blocks as the Bitcoin you receive from mining are locked for 100 blocks. You may use the following command bitcoin-cli -regtest generatetoaddress 101 <your address>

  • Send a transaction of 2 bitcoins to the second address.

  • List the last transactions bitcoin-cli listtransactions

  • Create a js file and exports the hash of your transaction in a variable txid.

Usage

exports.txid =
  "be3d0d245e7dce50964ac9157aee7e18a3828e11d89f72ee0bc3f76b526e5bb";

Congrats for your first Bitcoin transaction!

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