Sent 0.3 from Bitcoin-Qt. Transaction shows it deducted 0.47!!!

shorena

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No I dont escrow anymore.

Quote from: yeponlyone on March 21, 2015, 01:00:08 PM

-snip-
The minimum relay fee is 1000 satoshi. You can select custom fees in blockchain.info. However, the lower fee you go, the longer time it may take to confirm. You need a high priority, more than 57,600,000 for it to be confirmed within 2-3blocks.

Just a little addition:

This greatly depends on the number of transactions out there and how high your priority is in comparisson to them. Each block has 50Kbyte for transactions without fee. The transactions get sorted by priority. Thus if there is a high amount of transactions with a higher priority than yours it will take a while to get confirmed. 2-3 blocks matches roughly with my experience of high priority transactions without fee, but I typcially do them over night anyway.

yeponlyone

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Quote from: grewalsatinder on March 21, 2015, 08:02:13 AM

There's something else I noticed using Blockchain.info, Electrum, or any other wallets agains Bitcoin-Qt.

When I sent payment using Bitcoin-Qt It only used few bits like 100s but when I send payments using any other wallet, that always uses 10,000 bits or so. I get it from Bitcoin-Qt wallet options that to speed the transaction, like more the fee quicker the transaction is processed.

But, was just wondering if it's still possible with electrum I could have the option to use lower fee than 10,000.

The reason is in case if anybody (eg. parents) who aren't much techie, and just to give them a quick start give them more than better option, with lower fee (bit slow is Okay).

The minimum relay fee is 1000 satoshi. You can select custom fees in blockchain.info. However, the lower fee you go, the longer time it may take to confirm. You need a high priority, more than 57,600,000 for it to be confirmed within 2-3blocks.

ebliever

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Quote from: grewalsatinder on March 21, 2015, 08:02:13 AM

There's something else I noticed using Blockchain.info, Electrum, or any other wallets agains Bitcoin-Qt.

When I sent payment using Bitcoin-Qt It only used few bits like 100s but when I send payments using any other wallet, that always uses 10,000 bits or so. I get it from Bitcoin-Qt wallet options that to speed the transaction, like more the fee quicker the transaction is processed.

But, was just wondering if it's still possible with electrum I could have the option to use lower fee than 10,000.

The reason is in case if anybody (eg. parents) who aren't much techie, and just to give them a quick start give them more than better option, with lower fee (bit slow is Okay).

If I understand you correctly, yes, in Electrum you can set whatever fee you want. Just go to the Tools-->Preferences menu and you'll see Transaction Fee and can edit it.

grewalsatinder

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There's something else I noticed using Blockchain.info, Electrum, or any other wallets agains Bitcoin-Qt.

When I sent payment using Bitcoin-Qt It only used few bits like 100s but when I send payments using any other wallet, that always uses 10,000 bits or so. I get it from Bitcoin-Qt wallet options that to speed the transaction, like more the fee quicker the transaction is processed.

But, was just wondering if it's still possible with electrum I could have the option to use lower fee than 10,000.

The reason is in case if anybody (eg. parents) who aren't much techie, and just to give them a quick start give them more than better option, with lower fee (bit slow is Okay).

TookDk

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One coin to rule them all

Quote from: shorena on March 21, 2015, 04:33:06 AM

Id say this incident is an argument that bitcoin core already hides the technical details very well. The OP did only see on a blockexplorer that some coins have been send "elsewhere" and the wallet just displayed the correct balance as you would expect from a bank account. How much further can you hide change than in bitcoin core? With the default settings you will never see the "change" label anywhere as far as I am aware.

Yes, this is correct. All the confusion with "change" is always when people look at the blockchain and don't understand it.
The bitcoin-core does not show anything about "change" as shorena point out, you need to enable "advance coin control" to see the change address.
The average user should not look at the blockchain at all, it should just look at the balance in the wallet..

shorena

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Activity: 1498

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No I dont escrow anymore.

Quote from: viboracecata on March 20, 2015, 10:47:41 PM

From here we may say bitcoin has some barriers for common person to use, destroy old transactions input and generate new one surely have some obviously advantages, should the developing team hide all these details and convert it to the style of the common bank transations then common person can easily understand

Id say this incident is an argument that bitcoin core already hides the technical details very well. The OP did only see on a blockexplorer that some coins have been send "elsewhere" and the wallet just displayed the correct balance as you would expect from a bank account. How much further can you hide change than in bitcoin core? With the default settings you will never see the "change" label anywhere as far as I am aware.

yeponlyone

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Quote from: grewalsatinder on March 20, 2015, 08:17:10 PM

Quote from: yeponlyone on March 20, 2015, 09:35:03 AM

Quote from: grewalsatinder on March 20, 2015, 08:54:42 AM

Quote from: TookDk on March 20, 2015, 07:57:18 AM

Quote from: grewalsatinder on March 20, 2015, 07:46:42 AM

Do you think it will be fine? What should be next steps then?

As said before, you don't need to download the blockchain again.

1. Install bitcoin-core
2. Transfer your recovered wallet.dat to the bitcoin-core folder
3. Launch bitcoin core, Open the debug console
4. run walletpassphrase (you can skip this one of you have not encrypted your wallet file, timeout could be e.g. "300", which is in second)
5. run dumpprivkey 1DXKUMfM9UPqnHFZbvi5R9g7uBRchm8Gio
6. Save the returned private key, and your have recovered your 0.17837798 BTC

Good luck

Thank you so much for the steps and all your help guys!

I have recovered the wallet.dat, private key, imported it to Electrum and transferred it back to my original account. Grin

Now, I need to read about this 'Change' address. When did that happen? Since Bitcoin-core 0.10 version or from the beginning? I need to understand this thing, and I best understand from videos. Any related video to this topic? Tongue

Cheers!

Good to see that you have recovered it. Bitcoin core automatically pre-generated 100 addresses and some of those are used as change address. Therefore, per 100 transaction, you should backup the wallet.dat to prevent losing any BTC when recovering the wallet later on.

Wow! 100 change addresses!!
I only took backup of my blockchian.info address as private key. Secured my wallet.dat file now too.

Cheers!

For every one transaction, one of the change address will be used to ensure anonymity. blockchain.info doesn't specially use change address AFAIK.

viboracecata

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From here we may say bitcoin has some barriers for common person to use, destroy old transactions input and generate new one surely have some obviously advantages, should the developing team hide all these details and convert it to the style of the common bank transations then common person can easily understand

countryfree

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Your country may be your worst enemy

Quote from: grewalsatinder on March 20, 2015, 07:10:39 AM

I have uninstalled Bitcoin-Qt and the database!!!...

That was your only mistake. As a rule of thumb, when you make a mistake or see something you don't understand, don't ever uninstall everything. You'll risk losing all chances to understand what happened. And in that case, you may have lost money, too!

grewalsatinder

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Quote from: yeponlyone on March 20, 2015, 09:35:03 AM

Quote from: grewalsatinder on March 20, 2015, 08:54:42 AM

Quote from: TookDk on March 20, 2015, 07:57:18 AM

Quote from: grewalsatinder on March 20, 2015, 07:46:42 AM

Do you think it will be fine? What should be next steps then?

As said before, you don't need to download the blockchain again.

1. Install bitcoin-core
2. Transfer your recovered wallet.dat to the bitcoin-core folder
3. Launch bitcoin core, Open the debug console
4. run walletpassphrase (you can skip this one of you have not encrypted your wallet file, timeout could be e.g. "300", which is in second)
5. run dumpprivkey 1DXKUMfM9UPqnHFZbvi5R9g7uBRchm8Gio
6. Save the returned private key, and your have recovered your 0.17837798 BTC

Good luck

Thank you so much for the steps and all your help guys!

I have recovered the wallet.dat, private key, imported it to Electrum and transferred it back to my original account. Grin

Now, I need to read about this 'Change' address. When did that happen? Since Bitcoin-core 0.10 version or from the beginning? I need to understand this thing, and I best understand from videos. Any related video to this topic? Tongue

Cheers!

Good to see that you have recovered it. Bitcoin core automatically pre-generated 100 addresses and some of those are used as change address. Therefore, per 100 transaction, you should backup the wallet.dat to prevent losing any BTC when recovering the wallet later on.

Wow! 100 change addresses!!
I only took backup of my blockchian.info address as private key. Secured my wallet.dat file now too.

Cheers!

yeponlyone

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Activity: 504

Merit: 500

Quote from: grewalsatinder on March 20, 2015, 08:54:42 AM

Quote from: TookDk on March 20, 2015, 07:57:18 AM

Quote from: grewalsatinder on March 20, 2015, 07:46:42 AM

Do you think it will be fine? What should be next steps then?

As said before, you don't need to download the blockchain again.

1. Install bitcoin-core
2. Transfer your recovered wallet.dat to the bitcoin-core folder
3. Launch bitcoin core, Open the debug console
4. run walletpassphrase (you can skip this one of you have not encrypted your wallet file, timeout could be e.g. "300", which is in second)
5. run dumpprivkey 1DXKUMfM9UPqnHFZbvi5R9g7uBRchm8Gio
6. Save the returned private key, and your have recovered your 0.17837798 BTC

Good luck

Thank you so much for the steps and all your help guys!

I have recovered the wallet.dat, private key, imported it to Electrum and transferred it back to my original account. Grin

Now, I need to read about this 'Change' address. When did that happen? Since Bitcoin-core 0.10 version or from the beginning? I need to understand this thing, and I best understand from videos. Any related video to this topic? Tongue

Cheers!

Good to see that you have recovered it. Bitcoin core automatically pre-generated 100 addresses and some of those are used as change address. Therefore, per 100 transaction, you should backup the wallet.dat to prevent losing any BTC when recovering the wallet later on.

ebliever

legendary

Activity: 1708

Merit: 1036

If it makes the OP feel any better, this sort of confusion happens often. It's something that really needs to be explained better in a "what to expect" kind of write-up on using bitcoin wallets.

My own scare (https://bitcointalksearch.org/topic/m.10481951) involved:

1. Making a very late-night transaction that I promptly forgot about the following days.
2. Running two instances of a multi-bit wallet on two computers.
3. Creating new public keys (at some earlier time) on one of the instances but not copying them over to the other computer.

Thus, when I did the late night transaction, it used a change address recognized on the computer I was using, but my wallet on the other computer didn't recognize it. Combine that with my being groggy from a night of little sleep and totally forgetting about the transaction I'd done and I quickly convinced myself I'd been hacked. Nope, just a case of being sleepy-stupid combined with the complexities of current bitcoin wallets. Undecided

grewalsatinder

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Blockchain Technology Enthusiast, IT Pro

Got it now.
This video made things clear. Tongue

https://www.youtube.com/watch?v=q7CVfucFhNI

spartacusrex

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It's ALWAYS been like this.

Glad you got your Coins back.. Cheesy

TookDk

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Activity: 1960

Merit: 1062

One coin to rule them all

Quote from: grewalsatinder on March 20, 2015, 08:54:42 AM

Quote from: TookDk on March 20, 2015, 07:57:18 AM

Quote from: grewalsatinder on March 20, 2015, 07:46:42 AM

Do you think it will be fine? What should be next steps then?

As said before, you don't need to download the blockchain again.

1. Install bitcoin-core
2. Transfer your recovered wallet.dat to the bitcoin-core folder
3. Launch bitcoin core, Open the debug console
4. run walletpassphrase (you can skip this one of you have not encrypted your wallet file, timeout could be e.g. "300", which is in second)
5. run dumpprivkey 1DXKUMfM9UPqnHFZbvi5R9g7uBRchm8Gio
6. Save the returned private key, and your have recovered your 0.17837798 BTC

Good luck

Thank you so much for the steps and all your help guys!

I have recovered the wallet.dat, private key, imported it to Electrum and transferred it back to my original account. Grin

Now, I need to read about this 'Change' address. When did that happen? Since Bitcoin-core 0.10 version or from the beginning? I need to understand this thing, and I best understand from videos. Any related video to this topic? Tongue

Cheers!

Alweays great to hear when people recover their lost funds.
Have a nice day

As for the change address, it has been like this at least for 2 years, I am not up to date with the version numbers.

grewalsatinder

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Blockchain Technology Enthusiast, IT Pro

Quote from: TookDk on March 20, 2015, 07:57:18 AM

Quote from: grewalsatinder on March 20, 2015, 07:46:42 AM

Do you think it will be fine? What should be next steps then?

As said before, you don't need to download the blockchain again.

1. Install bitcoin-core
2. Transfer your recovered wallet.dat to the bitcoin-core folder
3. Launch bitcoin core, Open the debug console
4. run walletpassphrase (you can skip this one of you have not encrypted your wallet file, timeout could be e.g. "300", which is in second)
5. run dumpprivkey 1DXKUMfM9UPqnHFZbvi5R9g7uBRchm8Gio
6. Save the returned private key, and your have recovered your 0.17837798 BTC

Good luck

Thank you so much for the steps and all your help guys!

I have recovered the wallet.dat, private key, imported it to Electrum and transferred it back to my original account. Grin

Now, I need to read about this 'Change' address. When did that happen? Since Bitcoin-core 0.10 version or from the beginning? I need to understand this thing, and I best understand from videos. Any related video to this topic? Tongue

Cheers!

TookDk

legendary

Activity: 1960

Merit: 1062

One coin to rule them all

Quote from: grewalsatinder on March 20, 2015, 07:46:42 AM

Do you think it will be fine? What should be next steps then?

As said before, you don't need to download the blockchain again.

1. Install bitcoin-core
2. Transfer your recovered wallet.dat to the bitcoin-core folder
3. Launch bitcoin core, Open the debug console
4. run walletpassphrase (you can skip this one of you have not encrypted your wallet file, timeout could be e.g. "300", which is in second)
5. run dumpprivkey 1DXKUMfM9UPqnHFZbvi5R9g7uBRchm8Gio
6. Save the returned private key, and your have recovered your 0.17837798 BTC

Good luck

grewalsatinder

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Activity: 186

Merit: 100

Blockchain Technology Enthusiast, IT Pro

Quote from: spartacusrex on March 20, 2015, 07:54:55 AM

Can't you just 'restore' the folder through time machine ?

That's what it's for.. ?

Yes, I did a 'restore' from Timemachine. When it asked to choose a location where to restore, I selected 'Downloads'.

spartacusrex

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Activity: 718

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Can't you just 'restore' the folder through time machine ?

That's what it's for.. ?

grewalsatinder

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Blockchain Technology Enthusiast, IT Pro

Quote from: shorena on March 20, 2015, 07:50:47 AM

Quote from: grewalsatinder on March 20, 2015, 07:46:42 AM

-snip-
Do you think it will be fine? What should be next steps then?

As long as you have the wallet.dat, you can recover the private key and thus spend those coins. Instead of downloading the whole blockchain again I suggest you try to restore it to where it was before you deleted it. Not sure how the timemachine works, but thats probably the easiest solution. Restore as much as you can and try to start bitcoin core again. If you can just send the coins to your bc.i wallet.

That's what I'm up to. Once the folder is copied from time machine to my 'Downloads' directory, I'll move it back to '~/Library/Application Support/' Then download Bitcoin-Qt wallet from official website and install it.

I think that would eliminate the need to download the whole blockchain. That's why I copied the whole 37 GB folder. Else I could just copy the wallet.dat file. Tongue

Topic: Sent 0.3 from Bitcoin-Qt. Transaction shows it deducted 0.47!!! (Read 2380 times)