Amount in wallet too small? | Bitcointalksearch.org

Hugroll

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Quote from: Bonio on May 29, 2016, 12:51:19 PM

Ive got a paper wallet that I thought I had taken all the funds off. Turns out I missed a bit somehow, must have been messing with the miner fee. Anyhow this paper wallet has the equivalent of .04 euros on it. Which I cant seem to get from it. Im supposing the miner fee (even if I use economy fee) must be more than the amount on the wallet.

Now I am not fussed about .04 euro. However If I now destroy this wallet then im burning some bitcoin which doesnt seem right to me. I thought about transferring some more money to the wallet and then scanning it again to get it all off but my question is:

How do I get all the money from this wallet? After all I thought bitcoin was supposed to be ideal for micro payments? In 50 years time the .04 might be 40 0r even 40000 euro (if the euro is still being used then!).

TIA

i wouldn't worry about it too much. that happens to me all the way. the amount left in there in pretty much worthless compared to your overall net btc. dont waste hours trying to save a couple cents.

mrhelpful

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Quote from: Bonio on May 30, 2016, 10:46:40 AM

I suppose its just listening to people say its good for the unbanked and for small loans for those people etc etc.
In fact Ive been around bitcoin since 2012 and a lot of what was said then isnt true like its anonymous and you can send money for free etc.

I've transferred more money to it and am then going to withdraw the total amount, which is a waste of my bitcoin really as it would have been more financially sensible to forget it, at this stage at least. But as people are losing bitcoin for ever all the time it just doesnt seem right.

This falls back on the amount being send to the actual wallet.

So if you keep on sending micro transactions you will get cut up by fees and long unknown times for the miner to find your block - based on importance.

Which is why most who do the paperwallet route are usually people sending .1 btc or more eventually adding up to a bigger balance.

As for the last comment on people losing bitcoin all the time - this is based on how you proceed since there is a $34 dollar ledger wallet which is a smart chip usb that acts like a coldwallet which is more tangible like a plug and play(see balance).

Its really your approach assuming you already know this cause you been around 2012.

Bonio

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I suppose its just listening to people say its good for the unbanked and for small loans for those people etc etc.
In fact Ive been around bitcoin since 2012 and a lot of what was said then isnt true like its anonymous and you can send money for free etc.

I've transferred more money to it and am then going to withdraw the total amount, which is a waste of my bitcoin really as it would have been more financially sensible to forget it, at this stage at least. But as people are losing bitcoin for ever all the time it just doesnt seem right.

unholycactus

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Quote from: Bonio on May 29, 2016, 01:12:13 PM

Sorry

I'm not sure where you read the Bitcoin is ideal for micro payments but it's the opposite.
Like you said yourself, if the coins are worth more in the future, it will be easier to move them.

Bonio

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Sorry

achow101

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Just writing some code

First of all, you are writing on a Bitcoin Forum looking for help regarding the Bitcoin network, please put units in Bitcoins because that is what the network sees and that makes it easiest for people here to figure out what is wrong.

At the current market rate (which may not represent how much Bitcoin you actually have), you have 0.00008594 BTC. This amount is very small, although it is not considered dust. The issue is probably that your wallet software defaults to using a fee that is bigger than this amount so you cannot spend it. To spend it, you can send more Bitcoin to that address and then spend all of that to another address.

As for micro payments, that little bit of Bitcoin may be worth more in the future. The network will adjust to that, it is not static, it is dynamic. If that small amount can buy a lot in the future, then the fees are going to be significantly reduced. Today that is not the case because you can't buy much with that tiny amount of Bitcoin.

Bonio

full member

Activity: 127

Merit: 100

Ive got a paper wallet that I thought I had taken all the funds off. Turns out I missed a bit somehow, must have been messing with the miner fee. Anyhow this paper wallet has the equivalent of .04 euros on it. Which I cant seem to get from it. Im supposing the miner fee (even if I use economy fee) must be more than the amount on the wallet.

Now I am not fussed about .04 euro. However If I now destroy this wallet then im burning some bitcoin which doesnt seem right to me. I thought about transferring some more money to the wallet and then scanning it again to get it all off but my question is:

How do I get all the money from this wallet? After all I thought bitcoin was supposed to be ideal for micro payments? In 50 years time the .04 might be 40 0r even 40000 euro (if the euro is still being used then!).

TIA

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