Receiving a transaction with bitcoin core - quick question

TryNinja

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Well, there is a problem using HD wallet. Although it creates new deposit address everytime user requests but it can cost high fees when user wants to send Bitcoin to some other address. It happened with me last year around Nov-Dec. Due to high congestion, fees was around 0.0075 BTC I was having 0.12 BTC on my Mycelium wallet received in fractions on around 6-7 different addresses. So Mycelium was showing me standard fees as 0.03-0.035 BTC.

So since then I am using Standard wallet, who cares privacy when anyone hardly knows who you really are! I am proudly using 1Web51dont4give472shiT124 and saving hard-earned money from spending in fees. Grin

This has nothing to do with using an HD wallet/multiple addresses. An input is an input. It doesn't matter if it's 5 inputs being spent from the same address or 1 input per address for a total of 5 addresses. The total fee will always be the same.

I suggest you read this: https://en.bitcoin.it/wiki/Transaction

P.S: You are actually spending MORE in fees by using a vanity address instead of opting to use Segwit, which would save you ~38% (native segwit) or ~26% (Segwit in P2SH) in fees.

pooya87

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Merit: 10611

for what it's worth you can specify a receiving amount for example when you want to "request a payment". it is a URI scheme specified in Bitcoin Improvement Protocol 21[1]. basically you create a URI asking the other party to send you a specific amount like as a merchant when you want to sell some goods and it costs XBTC you ask them to pay you that much by just clicking on a link.
for example from the BIP:
bitcoin:175tWpb8K1S7NmH4Zx6rewF9WQrcZv245W?amount=50&label=Luke-Jr&message=Donation%20for%20project%20xyz
clicking on this will open your wallet and fills the fields with the address you are paying to, the amount and a message in your wallet history saying what this payment was for.

also regarding always using the same bitcoin address make sure to read these two links [2][3]

[1] https://github.com/bitcoin/bips/blob/master/bip-0021.mediawiki
[2] https://en.bitcoin.it/wiki/Address#A_Bitcoin_address_is_a_single-use_token
[3] https://en.bitcoin.it/wiki/Address_reuse

Thirdspace

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Mixing reinvented for your privacy | chipmixer.com

Quote from: gabrio81 on July 24, 2018, 02:26:19 PM

in order to receive a transaction, do I need to specify the actual "amount" for it to work ?

No, you don't need to specify amount.

Quote

if I can create one "receiving" address and always use that one regardless of amounts, if that would work?!

It would work just fine and could receive multiple incoming transactions

Quote

or is it better using individual addresses each and every time you receive with the correct amount?

yes, it would be better using different address for each transaction
in case you were expecting the same amount from different people,
giving each one different address would make you easily identify the sender

gabrio81

member

Activity: 94

Merit: 56

Quote from: ?? on ??

Quote from: gabrio81 on July 24, 2018, 02:26:19 PM

or is it better using individual addresses each and every time you receive with the correct amount?

I would recommend this since there's minor security/privacy concern if you re-using your address.

oh well, guess it is!

gabrio81

member

Activity: 94

Merit: 56

Quote from: TryNinja on July 24, 2018, 03:01:46 PM

Quote from: gabrio81 on July 24, 2018, 02:26:19 PM

in order to receive a transaction, do I need to specify the actual "amount" for it to work ?

No.

Quote from: gabrio81 on July 24, 2018, 02:26:19 PM

I can create one "receiving" address and always use that one regardless of amounts, if that would work?!

You can. You don't even have to fill the amount or message field, just get the address and give to whoever is going to send your coins.

Then, you can receive any amount of BTC as many times as you want in any address (from your wallet) and the coins will be there.

cheers, thanks for the info, didn't know that!

TryNinja

legendary

Activity: 2758

Merit: 6830

Quote from: gabrio81 on July 24, 2018, 02:26:19 PM

in order to receive a transaction, do I need to specify the actual "amount" for it to work ?

No.

Quote from: gabrio81 on July 24, 2018, 02:26:19 PM

I can create one "receiving" address and always use that one regardless of amounts, if that would work?!

You can. You don't even have to fill the amount or message field, just get the address and give to whoever is going to send your coins.

Then, you can receive any amount of BTC as many times as you want in any address (from your wallet) and the coins will be there.

gabrio81

member

Activity: 94

Merit: 56

hi there,

in order to receive a transaction, do I need to specify the actual "amount" for it to work ? reason I am asking is that there's this program that will deposit to my wallet and I was wondering if I can create one "receiving" address and always use that one regardless of amounts, if that would work?!

or is it better using individual addresses each and every time you receive with the correct amount?

thanks,
Gabrio

Topic: Receiving a transaction with bitcoin core - quick question (Read 207 times)