Topic: sdfsdf (Read 193 times)

... As part of a transaction you sent that utilised their 2FA service.

As mentioned on their site: https://api.trustedcoin.com/#/electrum-help
"TrustedCoin previously supported paying on a per-transaction (as opposed to batch) basis but had to discontinue support for this due to mining fees."

Essentially, the high mining fees were making the small per transaction charges into unspendable "dust". Any fee above 67.5 sats/byte makes a 10,000 sat UTXO worthless as it would cost more to include it in a transaction than it is actually worth! (148 bytes * 67.5 sats/byte = 9990 sats)


Yes, they charge 0.002BTC for 20 transactions, which is only 0.0001 BTC per transaction (and can get as low as 0.00005 BTC per transaction if you prepay in bulk).

The system is adding value... As it provides a 2FA service that prevents anyone from sending your coins, but at the same time does not lock you in and prevent you from getting coins out should you lose your 2FA device or TrustedCoin's service goes offline.

And it isn't adding any insecurity. The only have 1 private key in a 2-of-3 MultiSig setup... Even if they got hacked, your wallet is still safe. They cannot modify the transaction in any way (ie. to change the addresses or amounts being sent as the transaction has already been partially signed by your key and any modifications will render the transaction invalid).

They are leveraging a free system provided by Google... As do a lot of commerical services. They also have costs (servers, domains, bandwidth) like most commercial services which need to be covered.

You cannot blame Electrum and/or TrustedCoin because you didn't take the time to read and understand the information being given to you during wallet creation.

i added a screenshot to my answer, it is not stealing because you have been warned when you created this wallet.

that is an app on your phone working offline with your phone's hardware not google's servers.
in case of TrustedCoin you are using their server hardware, which means you send them your transaction and they use their CPU power to sign it and get paid for this service.

2 ways:
simple way: all your addresses start with 3
accurate way: go to your address tab press Ctrl+F paste your address in the little text box at the bottom of the window and it will filter out your addresses, if it is in your list you will see it (you may need to change the category/filter from the combobox on top from "receiving" to "change".
there is also a console command called "ismine" which you can use.

http://docs.electrum.org/en/latest/2fa.html#restoring-from-seed

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i agree that the "additional" fee is a bit absurd but the TrustedCoin team are offering a service and they want to get paid for it. and it is optional to use them. if you don't like paying the "additional" fee (like me) then don't use them. use a cold storage or buy a hardware wallet instead for additional security.

After viewing your transaction and calculating your fees It seems like you've paid a total of 4079.996 Satoshi's for your transaction. How did I derive this?:

Fee per Byte: 10.099 sat/B
Transaction size: 404 (bytes)
Multiply them - 10.099 x 404 = 4079.996 satoshi's

4079.996 satoshi's = $0.46165083 USD

Also, you won't see the address on a regular transaction to which the fee is going to. It usually goes to the miner's address which isn't displayed in anyones transaction. So the $22.69 has been sent to this address 1NS4t7mJbTqw7wNjfJBkTjmRPNM4WiH1Ea. Do you recall using this address in your electrum when you were making the payment? Also can you verify and let us know if 1NS4t7mJbTqw7wNjfJBkTjmRPNM4WiH1Ea is a change address in your electrum? Could you also inspect if this is the 2FA fee?

Also since your transaction has been confirmed, it's near impossible to get back this transaction if you sent the $22 to a wrong address.

the 0.002BTC is the 2FA fee!

when you are using the TrustedCoin services as your 2 Factor Authentication, they will take a fee in each transaction from you. and that address which you do not recognize belongs to them and it is that fee.


also mentioned in the second paragraph of below picture, the window where you are creating the wallet for the first time:

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