Basic and fundamental questions

  1. What does the blockchain represent? Is it the current balance of each account or is it the complete ledger?
  2. Does every transaction reach every miner?
  3. Is there a central server of Blockchain at all that keeps track of the new miners that get added?
  4. When a transaction is made between two people, how does the blockchain/bitcoin software know which peer to send it to?
  5. Do the messages exchanged on the network grow in size over time as more transactions are added? I would imagine, the chain gets bigger with every new transaction.
  6. Is it possible to reconstruct the transactions of a block that was made in the past?
  7. How does a miner know when he should start the computation of the blocks to win the competition?

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