One last thing, Don't use MultiBit HD until they fix the massive bug that is causing a lot of users a lot of grief at the moment...
It is resulting in a "password did not unlock the wallet" error and prevents you from opening your wallet and getting access to your coins! I believe the Devs are aware of the issue and trying to fix it, but is currently unresolved
Topic: Question about SVP wallets/clients? (Read 897 times)
The only reason I could think of that an SPV wallet would struggle with this would probably be related to something described here: http://docs.electrum.org/en/latest/faq.html#electrum-freezes-when-i-try-to-send-bitcoins
And you would have to have literally hundreds of UTXOs for this to become problematic. It would be a case of your computer/device running out of memory if it was trying to collate them all. I've sent several transactions out of Electrum and other SPV wallets (eg. Mycelium on an Android device) that had 10+ inputs without issue.
How many inputs were you needing to use?
And you would have to have literally hundreds of UTXOs for this to become problematic. It would be a case of your computer/device running out of memory if it was trying to collate them all. I've sent several transactions out of Electrum and other SPV wallets (eg. Mycelium on an Android device) that had 10+ inputs without issue.
How many inputs were you needing to use?
I don't use a SVP client just wanted to gain more knowledge about the clients, how they all work etc. so I came across this one SVP (thats multibit) and read somewhere that they aren't good for that reason. So wanted to make sure to know why is that. Thank you for your brief explanation I appreciate your help man
The only reason I could think of that an SPV wallet would struggle with this would probably be related to something described here: http://docs.electrum.org/en/latest/faq.html#electrum-freezes-when-i-try-to-send-bitcoins
And you would have to have literally hundreds of UTXOs for this to become problematic. It would be a case of your computer/device running out of memory if it was trying to collate them all. I've sent several transactions out of Electrum and other SPV wallets (eg. Mycelium on an Android device) that had 10+ inputs without issue.
How many inputs were you needing to use?
And you would have to have literally hundreds of UTXOs for this to become problematic. It would be a case of your computer/device running out of memory if it was trying to collate them all. I've sent several transactions out of Electrum and other SPV wallets (eg. Mycelium on an Android device) that had 10+ inputs without issue.
How many inputs were you needing to use?
You're right. SPV wallets doesn't require you to run on full node or download the whole blockchain. They're lightweight and easy to use. About the transactions. The speed of transactions are depends on its fees. The higher the fee. The faster the transactions to be confirmed. Don't put the fee below normal to a oid inconvenience. Putting manually fee below the recommended fee can cause the transaction unconfirmed or takes a long time to confirm.
Is it true or not that SVP is bad for to much UTXO ? I know about the fee and all that, just curious the principles on how does it work. Fees are to high right now so I am not thinking to send transaction...
You're right. SPV wallets doesn't require you to run on full node or download the whole blockchain. They're lightweight and easy to use. About the transactions. The speed of transactions are depends on its fees. The higher the fee. The faster the transactions to be confirmed. Don't put the fee below normal to a oid inconvenience. Putting manually fee below the recommended fee can cause the transaction unconfirmed or takes a long time to confirm.
So I have read somewhere that SVP clients are not so good at sending the transaction with a lot of unspent outputs. If I got it right, SVP client, connects to a full nodes to ask for the transaction information so it doesn't need to download the full blockchain like the core does.
Why would it struggle to send large transaction when making the transaction and signing it is all done on users device. Is it hard for a SVP client to broadcast large transactions? If so, what is the reason for this?
Why would it struggle to send large transaction when making the transaction and signing it is all done on users device. Is it hard for a SVP client to broadcast large transactions? If so, what is the reason for this?
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