Sent 1mBTC but over 3mBTC was sent. | Bitcointalksearch.org

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: GeorgeCoffee on December 17, 2017, 01:22:48 PM

bob123 hit the nail on the head.
The missing bitcoin was sent to pay for the 2-factor-authentication.
Thanks very much, this really cleared this up.

For such low values of Bitcoin, around £100, there are so many fees which make it not economical to transfer.
Even with huge increases in the market, I'm losing money even though the value has increased.

I'd suggest you make a second non-2fa wallet and hold 0.01BTC or 5% (whichever if best for you) of your bitcoins in it so you don't have the trustedcoin fees all the time. However, that's just optional and don't put everything in a non-2fa wallet as a 2fa one is much more secure.

GeorgeCoffee

newbie

Activity: 2

Merit: 0

bob123 hit the nail on the head.
The missing bitcoin was sent to pay for the 2-factor-authentication.
Thanks very much, this really cleared this up.

For such low values of Bitcoin, around £100, there are so many fees which make it not economical to transfer.
Even with huge increases in the market, I'm losing money even though the value has increased.

bob123

legendary

Activity: 1624

Merit: 2481

If your balance is still right (dont forget the transaction fee), then your coins got send to a change address.
You can click the link posted above to read more about how the change works in BTC.

But if your balance is wrong and 0.002 btc are missing:

Did you create a wallet with 2-factor-authentication?

In this case TrustedCoin charges a fee of 0.0001 btc (being prepayed for 20 tx's => 0.002 btc) for co-signing your transaction.
Did you click through without reading?

You can read more about it here: https://api.trustedcoin.com/#/electrum-help

TryNinja

legendary

Activity: 2758

Merit: 6830

The other address is probably the change address?

Read more here: https://en.bitcoin.it/wiki/Change

We can't really know without the transaction hash. Or how do you expect us to answer the "what happened and where is my bitcoin" question?

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

Quote from: GeorgeCoffee on December 16, 2017, 05:58:38 PM

Hi so when I sent bitcoins from my electrum wallet to my coinbase wallet I entered the value '1mBTC' but when I looked at my transaction afterwards it sent way more.
The charge was 1mBTC but bitcoin was sent to two other addresses?
What happened and where is my bitcoin?

Can you post the address/TX you sent from.
I assume the rest was lost to a fee? Was the fee slider at the furthest point to the right and did you have many transactions of small amounts received like faucet earnings or other micropatments.

GeorgeCoffee

newbie

Activity: 2

Merit: 0

Hi so when I sent bitcoins from my electrum wallet to my coinbase wallet I entered the value '1mBTC' but when I looked at my transaction afterwards it sent way more.
The charge was 1mBTC but bitcoin was sent to two other addresses?
What happened and where is my bitcoin?

Topic: Sent 1mBTC but over 3mBTC was sent. (Read 169 times)