Someone Deposited Money Into My Bitcoin Wallet. Can He Withdraw it? - page 2.

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

Someone owed me money and he wanted to pay me in Bitcoin.
So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

I want to ask you that did you gave him your wallet private key or only the public address? It's a very easy thing that How can he withdraw btc from your wallet if he doesn't have access to your wallet. Already, many people have given the answer, but I am still saying that once the confirmation of the Bitcoin transaction is done, you can never withdraw money from that wallet until you know the private key.

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Quote from: Coyster on December 09, 2023, 05:36:30 PM

Quote from: WillyAp on December 09, 2023, 12:49:45 PM

Laziness, ignorance etc., finding a reason for some things people sell is too much for my taste.

Most of the people who buy a forum account already know one or two things about the forum, i say so because they are buying the account so they can use it to participate in signature campaigns, so they are not really ignorant and won't buy a newbie account with zero merits. They cannot also be so lazy to understand that they can create a new account for themselves if they want to start from scratch, rather than buying a newbie account with no merit.

Yes I agree with you, people who buy accounts have understanding of the forum , the reason for them buying accounts is for the merit. A total strangers that has no Idea about the forum can not just buy account in the forum. People buy account for good reason for them that will benefit them in the forum, these are people who already have information and knows the forum very well.

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

Someone owed me money and he wanted to pay me in Bitcoin.
So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

Have not come across any news regarding someone taking another person's Bitcoin or any other cryptocurrency with the public address. The only one I have came across or let's say I know very well is when you give our your private key, or let's say you mistakenly input your private key 🔐 some where for security purposes not knowing you are exposing it to Hackers. This is the only one I know that you money can be taken.

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Quote from: WillyAp on December 09, 2023, 12:49:45 PM

Laziness, ignorance etc., finding a reason for some things people sell is too much for my taste.

Most of the people who buy a forum account already know one or two things about the forum, i say so because they are buying the account so they can use it to participate in signature campaigns, so they are not really ignorant and won't buy a newbie account with zero merits. They cannot also be so lazy to understand that they can create a new account for themselves if they want to start from scratch, rather than buying a newbie account with no merit.

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

But can he now withdraw the money since he has my bitcoin wallet address?

If you've got the private key to the Bitcoin wallet the funds were sent to, you're the only one who can take 'em back out. The person who sent the money in the first place wont have permission anymore once it leaves their wallet. Your private key's like the key to your house - without it, no one can get inside your Bitcoin wallet except you. So you gotta keep that private key locked down tight if you wanna make sure you're the only boss of your crypto stash.

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

Someone owed me money and he wanted to pay me in Bitcoin.
So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

No, that's not possible, your wallet address cannot serve as a means of stealing away your coins, if not, all of us would have also been a victim, make sure you you don't expose your seed phrase to anyone to see, then also make sure that you don't allow someone else to have access to your device you're using for wallet related apps, if they got hold of your device, they may see where you store your keys or make any transaction in your absence and they are irreversible once done.

Asiska02

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

Someone owed me money and he wanted to pay me in Bitcoin.
So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

You have asked a very important question which many newbie in cryptocurrency may not be aware of or know what it actually means to have access into someone’s account and withdraw their money. Know the difference between wallet address and seed phrase/private key. The name private keys should make you aware that it is not something that needs to be public but should be known to you only. If someone does not have your private keys or seed phrase, they can’t have access to your account to withdraw your money. Don’t ever disclose that to anyone and money can be deposited into your account without given them your seed phrase but you can only withdraw it when you have access to your seed phrase/ private key.

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

Someone owed me money and he wanted to pay me in Bitcoin.
So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

This is the kind of questions that google will answer instead of bringing same to this forum because it is obviously a low level question per say. But since there is a question, there must be an answer and some persons have answered you above. No one withdraws your money from the fiat bank using your account number only.

Quote from: hosseinimr93 on December 08, 2023, 07:11:33 PM

Bitcoin transactions are irreversible and if the transaction is confirmed, that's final.

It is fine that you included that if the transaction is confirmed. When I was a newbie, the statement that bitcoin transactions are irreversible nearly decieved me not until I realised that atleast 1 block need to confirm.

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

Someone owed me money and he wanted to pay me in Bitcoin.
So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

I understand your concerns. But you don't need to worry. As long as the person only knows your wallet and does not have the data to access it, in this case the wallet password / seed phrase / private key, then he will not be able to access it. Whatever the reason, you should never share this important data with him or anyone else. Therefore, it is important to maintain privacy and security of important data for wallet access and do not trust anyone, especially people who request this access. Never, for any reason.

SatoPrincess

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Bitcoin transactions once confirmed are irreversible, there’s no way that person can undo the transaction. It’s impossible for anyone to access your bitcoins through your bitcoin address. Your bitcoin address is similar to a bank account number, it’s only a channel for receiving bitcoins. The only difference between the two is that your anyone can look up your bitcoin address and see all the transactions you have made with that address. That’s why it’s recommended you use a wallet where you can generate different addresses.

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Quote from: philipma1957 on December 09, 2023, 09:00:23 AM

Trying hard to figure if their are reasons to buy an account from a newbie.

Can't come up with any good ones but I will ponder on this a bit more.

Laziness, ignorance etc., finding a reason for some things people sell is too much for my taste.

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

Someone owed me money and he wanted to pay me in Bitcoin.
So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

This is why you need an bitcoin (public) address to give it to those from whom you expect payment.

If you're a little paranoid (although you're probably new to this area with little to no knowledge if you're asking this question), you can transfer bitcoin to another btc address by first generating a new private key (don't show it to anyone). If this helps you worry less about this issue.

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Quote from: LoyceV on December 09, 2023, 07:34:51 AM

@CupCakeHugs007: What are you up to? I read your post history, and it's filled with big red flags: trading bots, youtubers, links to potential scam sites, high interest wallets, trading suggestions, staking for high interest, crypto signal providers and recovery services. Now it turns out you don't know the basics about Bitcoin.
That leaves 2 possibilities: either you're very gullible and an easy target for scams (and spreading the word about them), or you're up to no good. Let's say it's concerning.

Quote from: WillyAp on December 09, 2023, 08:27:24 AM

There's a third = someone bought the account.

Nobody buys a Newbie account without earned Merit.

Trying hard to figure if their are reasons to buy an account from a newbie.

Can't come up with any good ones but I will ponder on this a bit more.

WillyAp

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Quote from: LoyceV on December 09, 2023, 07:34:51 AM

That leaves 2 possibilities:

There's a third = someone bought the account.

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@CupCakeHugs007: What are you up to? I read your post history, and it's filled with big red flags: trading bots, youtubers, links to potential scam sites, high interest wallets, trading suggestions, staking for high interest, crypto signal providers and recovery services. Now it turns out you don't know the basics about Bitcoin.
That leaves 2 possibilities: either you're very gullible and an easy target for scams (and spreading the word about them), or you're up to no good. Let's say it's concerning.

Quote from: WillyAp on December 09, 2023, 08:27:24 AM

There's a third = someone bought the account.

Nobody buys a Newbie account without earned Merit.

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

Someone owed me money and he wanted to pay me in Bitcoin.
So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

Bitcoin transactions with at least 1 confirmation are irreversible.

You can give a Bitcoin address to anyone and that is how they can send you the funds but only a person who has the private key associated with that public address can access what's in it.

Technically, they can reserve the transaction by having 51% hash power of total bitcoin mining which will cost millions and billions of dollars so the more the confirmations the more likely it's not possible to reverse.

FinneysTrueVision

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If you are in control of the private keys then you are the only one who can withdraw. If you use something custodial like an exchange account then anybody with your login information would be able to access your funds.

Just don't get duped into disclosing your wallet backup phrase and you will be fine. There are many phishing scams looking to take advantage of newbies.

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

Someone owed me money and he wanted to pay me in Bitcoin.
So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

It's a No...
You're the only who has access to your Bitcoin, except of course maybe your account is been compromised, or you shared your wallet secret phrases with him, but if you didn't , then you're sure that your funds are safe and can't be accessed by either your friend or someone else.

And if you're concerned about your Bitcoin's safety and security, perhaps this thread may be of help to you https://bitcointalksearch.org/topic/bitcoin-security-and-safety-5312045

Quote from: hosseinimr93 on December 08, 2023, 07:11:33 PM

It may worth mentioning that anyone who knows your bitcoin address can check your transactions.
So, if you care about your about your privacy, you shouldn't reuse addresses.

Yes, and this helps maintain transparency in the Bitcoin Network, although it might look like this feature makes Bitcoin users not to enjoy complete anonymity and make Bitcoin transaction traceable and every man's business. Although there are some anonymous wallets that are not easily trackable even when you have the wallet addresses.

And OP you made a little typo error in your statement.

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Quote

So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

No he/she can't, to move a funds from one address to another you need full access to the wallet meaning he/she need youre private keys first
All he can do with the address that he has is to check what transaction is going on with that address, he can see where you send funds, how much money is going in and out
here paste your address and see what transactions you have made in the past.
https://www.blockchain.com/explorer

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Quote from: CupCakeHugs007 on December 08, 2023, 07:06:35 PM

Someone owed me money and he wanted to pay me in Bitcoin.
So I gave him my Bitcoin wallet address and he transferred the funds.
It's now complete.
But can he now withdraw the money since he has my bitcoin wallet address?

He can't send money from your wallet just by knowing your wallet address, mate. Your wallet address is the public address or key, you use to receive funds. To send or access your money, you use private keys. Since he doesn't have them and you do, he can't get into your wallet. Just keep those keys safe, and your Bitcoin will be secure.

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