Trapped coins in Multibit | Bitcointalksearch.org

HCP

legendary

Activity: 2086

Merit: 4361

Could you not just send a transaction of sufficient BTC size to cover the transaction fee (say >=0.015BTC) into the address and then transfer the whole lot (new amount + dust) out in another transaction to another address for which you have access to the private key?

PROs: you will have the private key for the new address, so can do whatever you want with it... ie. store offline, import into another wallet etc
CONs: you will need to pay two transaction fees to get the money into and then out of the Multibit wallet

Alternatively, you could always just start adding money to the address(es) until their balances become big enough to get them out economically. Maybe get a friend who wants to cash some coins out of somewhere (gambling/faucet/exchange account etc) to pass them through your account, picking up your tagged coins on the way.

I guess it all depends on how much value you place on these coins... if you want them badly enough, you'll cough up the ~0.0002BTC in transaction fees to get them out... Tongue

Kato

newbie

Activity: 41

Merit: 0

Quote from: racezefi on June 23, 2016, 10:58:19 PM

Hi, with trapped you mean you sent them colored coins to addresses in the wallet without a fee high enough to transfer them out?

How is this a problem with MultibitHD? MultibitHD doens't allow you to export your keys because it's kept simple to help most users manage their funds and not break everything.

If you want to keep your funds in a private key that you can see, you'll need to send money to pay the fees to wallet and then transfer out to Electrum, which allows to export, or cold storage addresses.

Originally I funded purchases of these tokens from BTC in my Multibit Wallet, and the distribution of the colored coins defaulted to the same BTC address from which I paid. I never held these tokens in any other address. But as I mentioned the BTC amounts on which they appear to be piggybacked are too small to meet the BTC-based fee hurdle of transferring them out, which i was not aware would be a problem when I made the original purchases. I would gladly transfer them out at very low to zero fee even if that meant confirms took a day or more, but I dont know if this is possible on Multibit, or if its possible to see the private key to use in an alternate wallet, or if there is another solution.

morantis

hero member

Activity: 868

Merit: 503

Quote from: Kato on June 23, 2016, 08:29:12 AM

I have various tokens that run on bitcoin that are trapped in my multibit wallet. One example is OMNI Mastercoin but there are a couple of others. The problem is that the amounts, stored as tagged BTC of much lower value, are too small to cover the fixed multibit fee of sending them out of the wallet. They're only small values, but in principle I don't like the idea of having trapped coins. What is my best option to release them? e.g. Can I set send transaction fee to 0? Can I import the address and tokens into another wallet and how? Thanks for any solution.

they are trapped because you created something that has no value, this is why it is important that people have some sense before "Dabbling", this is all you

racezefi

member

Activity: 80

Merit: 14

Hi, with trapped you mean you sent them colored coins to addresses in the wallet without a fee high enough to transfer them out?

How is this a problem with MultibitHD? MultibitHD doens't allow you to export your keys because it's kept simple to help most users manage their funds and not break everything.

If you want to keep your funds in a private key that you can see, you'll need to send money to pay the fees to wallet and then transfer out to Electrum, which allows to export, or cold storage addresses.

Kato

newbie

Activity: 41

Merit: 0

I have various tokens that run on bitcoin that are trapped in my multibit wallet. One example is OMNI Mastercoin but there are a couple of others. The problem is that the amounts, stored as tagged BTC of much lower value, are too small to cover the fixed multibit fee of sending them out of the wallet. They're only small values, but in principle I don't like the idea of having trapped coins. What is my best option to release them? e.g. Can I set send transaction fee to 0? Can I import the address and tokens into another wallet and how? Thanks for any solution.

Topic: Trapped coins in Multibit (Read 935 times)