Topic: How to send bitcoin to several addresses all at once? (Read 291 times)

Quote from: reallester on February 07, 2020, 03:42:41 AM

1. Blockchain.com can not be trusted.
2. You can import that very same private key to electrum and split it like o_e_l_e_o explained.
3. Don't trust Electrum 100% with very big amounts, because you have to rely on a blockchain, that Electrum hosts for you. Just saying.

Hello, why do you say blockchain dot com can't be trusted? This is a non-custodian wallet wherein a password can't be recovered if loss and you own your private keys. do you think something is wrong with their services? And you said one shouldn't trust Electrum wallet 100%, could this be because it's a hot wallet? Thanks

pooya87

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I currently use blockchain wallet, mycelium wallet and Coinomi wallet but none seem to have this feature.

both blockchain.com and Coinomi are considered bad wallets to use.
blockchain.com is bad because it is a web wallet and is known for having bugs and not supporting lots of features even with many demands for those features.
and Coinomi is bad because it is closed source and the developers have been evasive about it for a long time.

i am not a Mycelium user but it appears that it allows paying to multiple addresses: https://github.com/mycelium-com/wallet-android/issues/421#issuecomment-342934631 although i can't find that much information about it!

reallester

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Quote from: o_e_l_e_o on February 05, 2020, 04:24:31 PM

Quote from: bernarde on February 05, 2020, 04:12:45 PM

I want to send bitcoin to several addresses, and the amount is the same. Is there any way to do that?

Yes, if you are using a wallet which has that function.

Most people on this forum would recommend Electrum, which will certainly let you do that. You simply click Tools -> Pay to many, and it will open a new transaction with an expanded "Pay to" field. Enter the addresses and the amount you want to send to each address in the format address, amount with one address/amount combo per line. An example:

Code:

bc1address1abcdefgh, 0.01
3address2ijklmnop, 0.35
1address3qrstuvwxyz, 0.2

Quote from: bernarde on February 05, 2020, 04:12:45 PM

I also want to divide the whole amount to let's say 8 and send the whole thing to 8 different addresses, and the gas fees, etc. make it complicated.

I'm not sure there is an automatic way to do this. You can enter ! instead of an amount and it will send all remaining funds to that address, but that doesn't help you split it evenly several ways. I think you will end up having to do it manually.

This is Brilliant. I almost thought its impossible to send btc to different addresses with different values at the same time. But reading this now proves the possibility. But if I may ask, aside from Electrum wallet is there any other wallet you can recommend me to use for this action because I am not familiar with Electrum wallet. I currently use blockchain wallet, mycelium wallet and Coinomi wallet but none seem to have this feature.

AGD

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Quote from: Artemis3 on February 06, 2020, 12:39:34 PM

Quote from: pooya87 on February 06, 2020, 10:36:47 AM

I didn't know. Thanks! Is Electrum as safe as running your own Bitcoin core node then?

nothing is as safe as running your own full verifying node, but that doesn't make an SPV client such as Electrum unsafe though.

Oh. Then my quote

Quote

3. Don't trust Electrum 100% with very big amounts, because you have to rely on a blockchain, that Electrum hosts for you. Just saying.

is not completely wrong. Hosting your own node is 100% and using Electrum is < 100% safe. 'Electrum nodes' instead of just 'Electrum' would have been the right term here?

Are you aware that you can run a full node, an Electrum server connected to that node, and an Electrum wallet connected to that server?

-snip-

I knew that, but people usually don't run a full node when they use Electrum, because they use Electrum for the very reason to NOT download the entire blockchain, which is ok with me regarding small Bitcoin amounts. If I had a business or I would transfer big amounts of money I would ALWAYS run a full node (and in the case of Electrum: My own Electrum server connected to my own full node) instead of trusting random Electrum servers provided by the software.

Artemis3

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Quote from: pooya87 on February 06, 2020, 10:36:47 AM

Quote from: pooya87 on February 06, 2020, 11:44:02 AM

I didn't know. Thanks! Is Electrum as safe as running your own Bitcoin core node then?

nothing is as safe as running your own full verifying node, but that doesn't make an SPV client such as Electrum unsafe though.

Oh. Then my quote

Quote

3. Don't trust Electrum 100% with very big amounts, because you have to rely on a blockchain, that Electrum hosts for you. Just saying.

is not completely wrong. Hosting your own node is 100% and using Electrum is < 100% safe. 'Electrum nodes' instead of just 'Electrum' would have been the right term here?

Are you aware that you can run a full node, an Electrum server connected to that node, and an Electrum wallet connected to that server?

Sure, you could also just run Bitcoin Core, but its technically inaccurate what you guys are saying.

To OP: Nothing online is safe, a proper wallet like Bitcoin Core or Electrum can send to multiple addresses. Electrum by default doesn't need to download the entire blockchain (250+ gbytes) to start, but you do have to rely in others (the public Electrum servers) of you want to start quick. Its still better than any online wallet.

If you are concerned about security, you should run your wallet in Linux or similar Free and Open Source secure operating system. There are guides in this forum on how to setup wallets with Electrum etc.

AGD

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Quote from: pooya87 on February 06, 2020, 10:36:47 AM

I didn't know. Thanks! Is Electrum as safe as running your own Bitcoin core node then?

nothing is as safe as running your own full verifying node, but that doesn't make an SPV client such as Electrum unsafe though.

Oh. Then my quote

Quote

3. Don't trust Electrum 100% with very big amounts, because you have to rely on a blockchain, that Electrum hosts for you. Just saying.

is not completely wrong. Hosting your own node is 100% and using Electrum is < 100% safe. 'Electrum nodes' instead of just 'Electrum' would have been the right term here?

the wrong part that i pointed out was the part where you say when running Electrum "you rely on the blockchain that Electrum hosts". it is ambiguous and sounds like you are suggesting that Electrum is like some of the other light wallets where the clients connect to a single centralized "server" and download data that you need. that is false.

not to mention that lack of safety is in very special cases. cases such as very long chain reorgs where a full node is more aware of the situation compared to an SPV node and it could increase the risk of double spending if user had a payment in those blocks which is easily mitigated by requiring more confirmation count.

I understood this part now. So Electrum nodes (the ones with the added protocol) are pratically unable to collude to alter/delay/falsificate transactions? Did I get this right? Anyway, with big amounts I still would suggest running your own node, which connects to the other Bitcoin Core nodes, instead of a signficantly smaller number of Electrum nodes.

pooya87

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Quote from: pooya87 on February 06, 2020, 10:36:47 AM

Quote from: pooya87 on February 06, 2020, 10:36:47 AM

I didn't know. Thanks! Is Electrum as safe as running your own Bitcoin core node then?

nothing is as safe as running your own full verifying node, but that doesn't make an SPV client such as Electrum unsafe though.

Oh. Then my quote

Quote

3. Don't trust Electrum 100% with very big amounts, because you have to rely on a blockchain, that Electrum hosts for you. Just saying.

is not completely wrong. Hosting your own node is 100% and using Electrum is < 100% safe. 'Electrum nodes' instead of just 'Electrum' would have been the right term here?

the wrong part that i pointed out was the part where you say when running Electrum "you rely on the blockchain that Electrum hosts". it is ambiguous and sounds like you are suggesting that Electrum is like some of the other light wallets where the clients connect to a single centralized "server" and download data that you need. that is false.

not to mention that lack of safety is in very special cases. cases such as very long chain reorgs where a full node is more aware of the situation compared to an SPV node and it could increase the risk of double spending if user had a payment in those blocks which is easily mitigated by requiring more confirmation count.

buwaytress

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The other way you could do it, and yes this might take some initial set up but since I'm not super good at coding, it works for me.

It works with Electrum, in which you create first the spreadsheet with formula (using balance minus fees /8 to distribute entire input equally to 8 addresses after fees) and then put into CSV, then import into Electrum. You'll still need to load Electrum out to find out what the fee cost is!

AGD

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Keeper of the Private Key

I didn't know. Thanks! Is Electrum as safe as running your own Bitcoin core node then?

nothing is as safe as running your own full verifying node, but that doesn't make an SPV client such as Electrum unsafe though.

Oh. Then my quote

Quote

3. Don't trust Electrum 100% with very big amounts, because you have to rely on a blockchain, that Electrum hosts for you. Just saying.

is not completely wrong. Hosting your own node is 100% and using Electrum is < 100% safe. 'Electrum nodes' instead of just 'Electrum' would have been the right term here?

pooya87

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Quote from: pooya87 on February 06, 2020, 04:58:15 AM

I didn't know. Thanks! Is Electrum as safe as running your own Bitcoin core node then?

nothing is as safe as running your own full verifying node, but that doesn't make an SPV client such as Electrum unsafe though.

AGD

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Keeper of the Private Key

Quote from: bernarde on February 06, 2020, 02:49:27 AM

3. Don't trust Electrum 100% with very big amounts, because you have to rely on a blockchain, that Electrum hosts for you. Just saying.

"Electrum" is not a company or a server to host anything!
Electrum clients connect to bitcoin nodes that have some additional communication protocol compared to bitcoin core which allows receiving transaction history and block headers in a fraud proof way.

I didn't know. Thanks! Is Electrum as safe as running your own Bitcoin core node then?

o_e_l_e_o

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Thank you, the consensus seem to be on electrum, but then it is not safe for more than one use.

Electrum itself is perfectly safe, provided you follow my instructions above to ensure you are installing the legitimate version, and you always double check your receiving and sending addresses. What isn't completely safe is to continue using a private key which is also stored in an online wallet, because online wallets aren't safe. If you don't care about this, you are free to continue to use it, but the better security practice would be to create a new wallet from scratch in Electrum.

You can quite easily import your key to Electrum, spend what you want to in a "pay to many" transaction, and then just go back to using blockchain.com if you want.

joniboini

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Quote from: bernarde on February 06, 2020, 02:49:27 AM

Thank you, the consensus seem to be on electrum, but then it is not safe for more than one use.
I like coinomi and I have used it before. Is it safe to import my private key there as well and send bitcoin to multiple addresses?

From where did you derive that it's not safe to use more than once? As long as you don't expose your seed/private key or got phished your funds are safe.

Quote from: bernarde on February 06, 2020, 02:49:27 AM

because you have to rely on a blockchain, that Electrum hosts for you. Just saying.

This statement is really weird.

fer_coinomi

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Thank you, the consensus seem to be on electrum, but then it is not safe for more than one use.
I like coinomi and I have used it before. Is it safe to import my private key there as well and send bitcoin to multiple addresses?

Hi bernarde, Coinomi doesn't import private keys, it sweeps them, bringing all funds associated with the key to your Coinoim address. Unfortunately sending to multiple addresses in a single transaction is not supported, but it's a feature we plan to add it in the future.

pooya87

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