Transferring BTC | Bitcointalksearch.org

Dunamisx

hero member

Activity: 952

Merit: 555

Quote from: jimmyk1 on February 20, 2023, 10:12:04 AM

When transferring BTC to my ledger. do I really need you use a new address every time? is it really necessary?

It should be base on your choice, what is want is what will determine the outcome of your decision, you can use an address a many times as possible either in making or receiving payment, but some people may just decided to use multiple addresses each time they are engaging in receiving payment, this now also depends on the source you are receiving from, use a single address if the means sending you payment is fixed and steady (constant), use different address whenever you want to receive payment from different sources on an irregular basis and if you're privacy minded.

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: jimmyk1 on February 20, 2023, 10:12:04 AM

When transferring BTC to my ledger. do I really need you use a new address every time? is it really necessary?

Giving someone an address allows that person to associate the address and all of its transactions with you.

If you reuse the address with multiple people then those people can see your transactions with the other people. That can affect your privacy, and you may or may not care.

Using a different address each time for a single person accomplishes nothing because the person already knows about the transactions. If you reuse your address with a single person, then that person can only see transactions that they already know about. Reuse with single person has no effect on your privacy.

Quote from: jackg on February 20, 2023, 11:25:51 AM

Reusing addresses can make fees cheaper though too

That is false. The fee generally depends on the number of UTXOs, regardless of what addresses they are associated with.

Little Mouse

legendary

Activity: 2254

Merit: 2305

Marketing Campaign Manager |Telegram ID- @LT_Mouse

Quote from: Crypt0Gore on February 21, 2023, 10:44:41 AM

Not reusing a Bitcoin address a second time will not erase the first time you use the Bitcoin address. I do not see any form of privacy doing transactions this way, I believe this is why we have mixers.

Not reusing an address a second time means you are keeping your different transactions NON-traced. Imagine, you are receiving your salary from your real-life job at an address and again, receiving your signature campaign payment at the same address. What have you done? Linked up your real-life identity to internet identity. This is an example only. Mixers are centralized services mostly. Who confirms that they don't keep any logs? You only trust them most of the time. You can't verify the reality.

Crypt0Gore

sr. member

Activity: 952

Merit: 275

Quote from: dbshck on February 20, 2023, 10:26:22 AM

You can reuse the same Bitcoin address. However, if you want to maintain some privacy it's generally recommended to use a new address every time you want to receive payment.

Not reusing a Bitcoin address a second time will not erase the first time you use the Bitcoin address. I do not see any form of privacy doing transactions this way, I believe this is why we have mixers.

OP, are you trying to hide how many Bitcoin you moving into your hardware wallet? Why? This is not necessary at all unless your money is not clean or you are hiding for other private reasons, even if this is the case mixer is the only solution, using several Bitcoin addresses makes no difference.

Little Mouse

legendary

Activity: 2254

Merit: 2305

Marketing Campaign Manager |Telegram ID- @LT_Mouse

Quote from: Mpamaegbu on February 21, 2023, 10:13:00 AM

So, that means those who've been using a single address for all their signature campaigns here are exposed somehow then 🤔.

Of course, no. You are giving a pattern of receiving Bitcoin to the analyst. Nothing else here. That's the only thing you are exposing here.

Quote

Anyway, I believe that sometimes, it's even good to keep it simply simple by reusing addresses. All these privacy induced precautions could even make one lose/misplace one's data and not remembering where it's kept.

You have to remember one seed key only. Nothing else. You can generate as many address as you want from a single seed key. It's hard to maintain whenh you have a lot of seed key. But we don't need that. You can use one seed for many address, in many ways even not connecting one with another.

Macadonian

sr. member

Activity: 467

Merit: 578

It is not necessary but if you care about your privacy then you should do it. If you have posted the address publicly and continue to use the 1 address people can track how much btc you have which could be a security issue if they decide to target you. By using a new address each time you eliminate that worry.

Mpamaegbu

legendary

Activity: 2716

Merit: 1225

Once a man, twice a child!

Quote from: dbshck on February 20, 2023, 10:26:22 AM

You can reuse the same Bitcoin address. However, if you want to maintain some privacy it's generally recommended to use a new address every time you want to receive payment.

So, that means those who've been using a single address for all their signature campaigns here are exposed somehow then 🤔. Anyway, I believe that sometimes, it's even good to keep it simply simple by reusing addresses. All these privacy induced precautions could even make one lose/misplace one's data and not remembering where it's kept. If you hide something hard enough, you might even end up losing recollection of where you've hidden it. To be frank, I don't even understand the rational behind all the address change when I know I don't go around broadcasting to people that I'm into crypto or that I hodl Bitcoin. The only people who will be in danger of this are the braggart who derive pleasure in boasting and displaying fake lives on social media.

witcher_sense

legendary

Activity: 2450

Merit: 4415

🔐BitcoinMessage.Tools🔑

Quote from: jimmyk1 on February 20, 2023, 10:12:04 AM

When transferring BTC to my ledger. do I really need you use a new address every time? is it really necessary?

getting the addresses white listed is annoying. -_-

Don't blame the wallet you're using: it is merely trying to protect your privacy because otherwise you may unintentionally tell your counterparties the information they don't need to know. For example, it is likely that they don't need to know how many coins you have, what food you eat or which toys you buy in the sex shop. Even if you're a law-abiding citizen who have never done or think of doing something illegal or immoral, it is still not their business and they don't need to know about your transactions. Thanks to wallets offering coin control functionality, you have a better chance to preserve your personal information. If someone is forcing you to "whitelist" your address or re-use address, they simply want to infringe on your privacy rights so that they can control you or affect your financial decisions. If that is the case, then you should consider switching to peer-to-peer transactions with individuals who don't care who you are or where your money came from.

Dump3er

hero member

Activity: 1526

Merit: 597

Quote from: dbshck on February 20, 2023, 10:26:22 AM

You can reuse the same Bitcoin address. However, if you want to maintain some privacy it's generally recommended to use a new address every time you want to receive payment.

The advice is valuable and I do it exactly that way, but it could turn into an administrative nightmare when bills like these come into effect everywhere in the world. Unless you stick to p2p transactions, but if you want to exit some crypto for fiat you would have to pass KYC for every single wallet address that you used to receive funds and transferred funds to virtual asset service provider (as they call it).

jackg

copper member

Activity: 2856

Merit: 3071

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

Quote from: Upgrade00 on February 20, 2023, 02:06:28 PM

Quote from: jackg on February 20, 2023, 11:25:51 AM

Reusing addresses can make fees cheaper though too

Can you walk me through how reusing addresses makes fees cheaper.
AFAIK, the most important variable in tx fees are the inputs, then you can have the outputs, wallet type, etc.

IIrc if you're using a wallet with coin control that is privacy focussed by default and one that is efficient (electrum used to do this, not sure if it still does), sending coins to addresses that are already funded stops the wallet from splitting the inputs to the individual addresses (as it knows there's no privacy gain) and makes it spend them together in a lot of cases so all inputs would be spent to the same change address.

Upgrade00

legendary

Activity: 2114

Merit: 2248

Playgram - The Telegram Casino

Quote from: jimmyk1 on February 20, 2023, 10:12:04 AM

is it really necessary?

It is a minor privacy suggestion and not a necessity.

There are many users on the forum who are registered to different campaigns and receive their weekly payment to the same address every week with no issues.
If you can change address when receiving and sending, it's advisable to do so.

Quote from: jackg on February 20, 2023, 11:25:51 AM

Reusing addresses can make fees cheaper though too

Can you walk me through how reusing addresses makes fees cheaper.
AFAIK, the most important variable in tx fees are the inputs, then you can have the outputs, wallet type, etc.

dkbit98

legendary

Activity: 2212

Merit: 7064

Quote from: jimmyk1 on February 20, 2023, 10:12:04 AM

When transferring BTC to my ledger. do I really need you use a new address every time? is it really necessary?

No you don't have to do it every time, especially if you are receiving regular payments from same source, like a paycheck or your donation address.
In all other cases it's better for privacy to generate new addresses and work on good address management with labels.

Quote from: jimmyk1 on February 20, 2023, 10:12:04 AM

getting the addresses white listed is annoying. -_-

It literally takes a second to use or generate new address from ledger that is connected with Electrum wallet, and that is not annoying at all.

jackg

copper member

Activity: 2856

Merit: 3071

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

You can reuse addresses but it hurts your privacy.

Reusing addresses can make fees cheaper though too and it might be a useful decision to make (or one you've already made in your wallet) as to whether you want cheaper transactions or better privacy (the default will probably be better privacy).

dbshck

staff

Activity: 2454

Merit: 1617

Crypto Swap Exchange

You can reuse the same Bitcoin address. However, if you want to maintain some privacy it's generally recommended to use a new address every time you want to receive payment.

jimmyk1

newbie

Activity: 5

Merit: 12

When transferring BTC to my ledger. do I really need you use a new address every time? is it really necessary?

getting the addresses white listed is annoying. -_-

** thank you bitcointalk community for your help from my previous questions posts it helped me a lot

Topic: Transferring BTC (Read 173 times)