Transactions with Bitcoin Mockup/Method


As I haven't got many resources I am unable to test this method however before I spend the time investing in servers and such, I would like to show my idea as to how I will be handling a payments system with my site and whether or not this is a good idea or not.

I will be using Bitcoin-client / core / bitcoind (I don't kknow the difference).
I will first create a new wallet: createwallet "transactions"
Then I will import addresses I already own: importaddress "address" "label" false (rescan: false) and do for around 30 addresses?
Once I have imported the addresses, I will then do rescanblockchain
And now, I should be able to do listreceivedbyaddress <address> and get a list of all of the transactions for an address (which I can then track and use as a transaction)

Question is, will this work? I don't know a great deal about Bitcoin but from my research, this is the only work around I can think of as I have no clue whether this is the correct approach at all.

Ideally, I would like to set and forget the addresses and then whenever a new address has been picked to serve as the address a user will have to send bitcoin too, it will then look for that address, find the latest transaction when there is one and then monitor that transaction.

Just becuse this isn't code, please don't down-vote this. I've been searching for months to find a solution where I don't use some rubbish third party API.


Posted 2020-11-08T00:20:40.997

Reputation: 11

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