New to Bitcoin - Having some issues | Bitcointalksearch.org

RealBitcoin

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JAYCE DESIGNS - http://bit.ly/1tmgIwK

Quote from: snarfsnarf on October 14, 2015, 09:09:29 PM

Hello! I am not sure if this is the right place for this but i will give it a shot anyways. I use Electrum as my wallet and today i made a purchase from a bitcoin atm machine locally and then transfered the coins into my electrum wallet. The problem that i am having now is for some reason my wallet is showing that i have an insane balance and i have no idea where my bitcoins that i purchased with cash through the atm went and its saying that i have a balance of 597.34327 mbtc which i have no idea where it came from. I still have the receipt from the purchase from the ATM and am just trying to figure out what happened to the 0.60210145 that i purchased. Thank you and if that makes no sense please feel free to ask me anything to clarify the issue.

Yes it is a pretty misleading but yes we have a unit system for bitcoin:

1 BITCOIN =1 BITCOIN

1 mBTC = 0.001 BTC (2 zeros)

1 μBTC = 0.000001 BTC (5 zeros)

1 satoshi = 0.00000001 BTC (7 zeros)

Kevin77

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Now a days people started using a new notation bits. 1 bits =100 satoshi.
Xapo users must be familiar with bits notation usage. Electrum has options to set your prices along with bits options.

confirmation120

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Quote from: foxkyu on October 17, 2015, 07:44:41 AM

Quote from: LiteCoinGuy on October 17, 2015, 05:37:48 AM

Quote from: foxkyu on October 16, 2015, 01:26:03 PM

Looks like it was normal. Just remember this in advance.

1 BTC = 100 000 000 Satoshi
1 BTC = 1000 mBTC (millibitcoin)
1 mBTC = 100,000 Satoshi
1 μBTC (microbitcoin) = 100 Satoshi

i know this but no one will ever use mBTC, μBTC etc.

bits is pretty perfect in my view.

Not really. There is still many people use mBTC, μBTC, etc. Especially in faucet type.

But in my perception i'm still familiar with mBTC, μBTC , rather than bits.

I always use mbtc makes it simple for me.

foxkyu

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Quote from: LiteCoinGuy on October 17, 2015, 05:37:48 AM

Quote from: foxkyu on October 16, 2015, 01:26:03 PM

Looks like it was normal. Just remember this in advance.

1 BTC = 100 000 000 Satoshi
1 BTC = 1000 mBTC (millibitcoin)
1 mBTC = 100,000 Satoshi
1 μBTC (microbitcoin) = 100 Satoshi

i know this but no one will ever use mBTC, μBTC etc.

bits is pretty perfect in my view.

Not really. There is still many people use mBTC, μBTC, etc. Especially in faucet type.

But in my perception i'm still familiar with mBTC, μBTC , rather than bits.

Aggressor66

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Activity: 728

Merit: 501

Quote from: snarfsnarf on October 14, 2015, 09:34:14 PM

Wow....yeah that makes sense now, and boy do i feel dumb haha, i figured it out, but thanks for the help!

Don’t know how to convert uBTC to mBTC or mBTC to BTC and vice versa, this simple calculator might help Wink

http://satoshi.24ex.com/

Astargath

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Activity: 1624

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Quote from: LiteCoinGuy on October 17, 2015, 05:37:48 AM

Quote from: foxkyu on October 16, 2015, 01:26:03 PM

Quote from: snarfsnarf on October 14, 2015, 09:09:29 PM

Hello! I am not sure if this is the right place for this but i will give it a shot anyways. I use Electrum as my wallet and today i made a purchase from a bitcoin atm machine locally and then transfered the coins into my electrum wallet. The problem that i am having now is for some reason my wallet is showing that i have an insane balance and i have no idea where my bitcoins that i purchased with cash through the atm went and its saying that i have a balance of 597.34327 mbtc which i have no idea where it came from. I still have the receipt from the purchase from the ATM and am just trying to figure out what happened to the 0.60210145 that i purchased. Thank you and if that makes no sense please feel free to ask me anything to clarify the issue.

Looks like it was normal. Just remember this in advance.

1 BTC = 100 000 000 Satoshi
1 BTC = 1000 mBTC (millibitcoin)
1 mBTC = 100,000 Satoshi
1 μBTC (microbitcoin) = 100 Satoshi

i know this but no one will ever use mBTC, μBTC etc.

bits is pretty perfect in my view.

But most people actually do use mBTC.

LiteCoinGuy

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Activity: 1148

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In Satoshi I Trust

Quote from: foxkyu on October 16, 2015, 01:26:03 PM

Quote from: snarfsnarf on October 14, 2015, 09:09:29 PM

Hello! I am not sure if this is the right place for this but i will give it a shot anyways. I use Electrum as my wallet and today i made a purchase from a bitcoin atm machine locally and then transfered the coins into my electrum wallet. The problem that i am having now is for some reason my wallet is showing that i have an insane balance and i have no idea where my bitcoins that i purchased with cash through the atm went and its saying that i have a balance of 597.34327 mbtc which i have no idea where it came from. I still have the receipt from the purchase from the ATM and am just trying to figure out what happened to the 0.60210145 that i purchased. Thank you and if that makes no sense please feel free to ask me anything to clarify the issue.

Looks like it was normal. Just remember this in advance.

1 BTC = 100 000 000 Satoshi
1 BTC = 1000 mBTC (millibitcoin)
1 mBTC = 100,000 Satoshi
1 μBTC (microbitcoin) = 100 Satoshi

i know this but no one will ever use mBTC, μBTC etc.

bits is pretty perfect in my view.

foxkyu

hero member

Activity: 938

Merit: 1000

Quote from: snarfsnarf on October 14, 2015, 09:09:29 PM

Hello! I am not sure if this is the right place for this but i will give it a shot anyways. I use Electrum as my wallet and today i made a purchase from a bitcoin atm machine locally and then transfered the coins into my electrum wallet. The problem that i am having now is for some reason my wallet is showing that i have an insane balance and i have no idea where my bitcoins that i purchased with cash through the atm went and its saying that i have a balance of 597.34327 mbtc which i have no idea where it came from. I still have the receipt from the purchase from the ATM and am just trying to figure out what happened to the 0.60210145 that i purchased. Thank you and if that makes no sense please feel free to ask me anything to clarify the issue.

Looks like it was normal. Just remember this in advance.

1 BTC = 100 000 000 Satoshi
1 BTC = 1000 mBTC (millibitcoin)
1 mBTC = 100,000 Satoshi
1 μBTC (microbitcoin) = 100 Satoshi

CryptoTrout

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https://twitter.com/CryptoTrout

The difference is probably the ATM fee, a bitcoin transaction fee should not be that high.

Congrats on getting started with bitcoin and choosing electrum rather than an online wallet. Stay secure!

LiteCoinGuy

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Activity: 1148

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In Satoshi I Trust

Quote from: snarfsnarf on October 14, 2015, 09:34:14 PM

Wow....yeah that makes sense now, and boy do i feel dumb haha, i figured it out, but thanks for the help!

switch to bits

1 Bitcoin = 1 Mio bits

in your case: 602.000 bits

Revelation Machine

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Activity: 518

Merit: 500

You can change electrum to display the balance in BTC.
Tools -> Preference -> Base unit : Change it to BTC

notlist3d

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Activity: 1456

Merit: 1000

Quote from: snarfsnarf on October 14, 2015, 09:34:14 PM

Wow....yeah that makes sense now, and boy do i feel dumb haha, i figured it out, but thanks for the help!

Not a problem! Glad you did not loose any money from ATM purchase.

With being new I will teach you one more thing

. Go to bottom left of thread and click on close. That will lock the thread where we don't see answers for the next few day's pop it up.

CrimBit

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i think you forget about "fee" transfer or "fee" buy

snarfsnarf

newbie

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Wow....yeah that makes sense now, and boy do i feel dumb haha, i figured it out, but thanks for the help!

gentlemand

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Welt Am Draht

Sounds like you've got your decimals mixed up. mBtc is a smaller unit. Did you buy 0.602 BTC? That's 602 mBtc. Your wallet is displaying in mBTC.

notlist3d

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Activity: 1456

Merit: 1000

Quote from: snarfsnarf on October 14, 2015, 09:09:29 PM

Hello! I am not sure if this is the right place for this but i will give it a shot anyways. I use Electrum as my wallet and today i made a purchase from a bitcoin atm machine locally and then transfered the coins into my electrum wallet. The problem that i am having now is for some reason my wallet is showing that i have an insane balance and i have no idea where my bitcoins that i purchased with cash through the atm went and its saying that i have a balance of 597.34327 mbtc which i have no idea where it came from. I still have the receipt from the purchase from the ATM and am just trying to figure out what happened to the 0.60210145 that i purchased. Thank you and if that makes no sense please feel free to ask me anything to clarify the issue.

I'm assuming there must have been fees and it's own just a little. But convert it from mbtc to btc - http://youmeandbtc.com/bitcoin-converter/convert-btc-mbtc-bits-satoshis-usd/

It is right around what you are thinking. Was the .60... after or before ATM fees?

snarfsnarf

newbie

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Hello! I am not sure if this is the right place for this but i will give it a shot anyways. I use Electrum as my wallet and today i made a purchase from a bitcoin atm machine locally and then transfered the coins into my electrum wallet. The problem that i am having now is for some reason my wallet is showing that i have an insane balance and i have no idea where my bitcoins that i purchased with cash through the atm went and its saying that i have a balance of 597.34327 mbtc which i have no idea where it came from. I still have the receipt from the purchase from the ATM and am just trying to figure out what happened to the 0.60210145 that i purchased. Thank you and if that makes no sense please feel free to ask me anything to clarify the issue.

Topic: New to Bitcoin - Having some issues (Read 1174 times)