Topic: URGENT! Was I double charged? (Read 316 times)

A 'wallet' is a piece of software which manages your private-/public- keys.
Each time you receive BTC, you get one 'bill' cointaining the amount you have received.

When you try to send some BTC your wallet takes as much 'bills' as necessary and 'destroys' them in order to create 1 'bill' for the actual transaction (the amount you want to send) and 1 'bill' for your change.
Also explained here.

Correct

Oh, sorry I didn't realize this was change as well. I did get it the first time, I just didn't realize this was also change.

The wallet that you are spending from has more amounts of bitcoin than what you are sending and the difference is returned to your other address as change minus the miner fees.

I don't think it's clear to you yet, if you ask about change again.

Think of it this way: you pay someone with a 10 dollar bill, and you get 4 dollar back. Bitcoin's change is more or less similar to change in cash payments.

Thanks for that explanation! It really clarified it.

What about this previous transaction:

What's 0.000072 here?
https://blockchain.info/tx/54b06735a6e226dc6bde907ebf328413d529a5d30a6700a118579db4e9cf2914

Thank you my main man!

What's 0.000072 at this link?
https://blockchain.info/tx/54b06735a6e226dc6bde907ebf328413d529a5d30a6700a118579db4e9cf2914

This is your change.
Bitcoins do exist as UTXO (Unspent transaction outputs).
Each transaction takes UTXO's (inputs of the new transactions) to create new UTXO's (output of the transaction).

In your case:
The input of your transaction was an unspent output (0.005486 BTC).
You have created two 'new UTXOs' (The payment you wanted to do (0.000848) and your change (0.0046342 BTC)).
Those two values sum up to 0.0054822. Plus your fee of 0.0000038 BTC this equals your input.

That was your "change address" and it belongs to your Electrum wallet.
Notice that there's no deducted balance in your Electrum aside from the sent amount and the tx fee.
Don't worry, you can spend it too, electrum will use its output when needed.

You can disable it in the setting by selecting preference and unchecking "use change address" checkbox.
In your next transactions, the excess bitcoins will just re-sent back to the same address not to the change address. (if you're not a security freak, this won't be an issue)

Note: If you want to understand why is there a "change" or excess amount, learn how bitcoin blockchain and blocks work.

I have just sent another payment, and this one also has two receiving addresses...
https://blockchain.info/tx/ceaa6d548fe9442961dd94db4f3fbc151a857dd2b77acbcd066f504dc3b8b356

I sent a payment for 0.000848 BTC, but there's another amount for 0.0046342 BTC.. What's the second one for, could you explain please??

I hope I am not getting charged for this one too?? 

Guys, I have another question.

Could anyone please explain to me what's this first wallet address for???

The wallet that received 0.000072 BTC at the below link:

https://blockchain.info/tx/54b06735a6e226dc6bde907ebf328413d529a5d30a6700a118579db4e9cf2914

I understand the other 2 wallets, I don't understand whose is this one though.

What is this amount for and who received it?

Thanks for all the replies and explanation guys.

always read the small print-Electrum warns you about the fees during the installation
although 100k is just 9$ I can see why are you so upset about it
2fa makes your wallet secure,but if you operate in hundreds of satoshis,you would not want to pay 100k just to make sure none steals your 0.01
besides as it has been mentioned by HCP it can cause issues in the future,so use your 19 leftover credits up and move funds to a new wallet

Just to expand on what LoyceV has already indicated... it is shown in the "disclaimer" which is on the first window displayed after you select "Wallet with two-factor authentication" (full screenshot):



As it says, you can check the billing preferences once the install is completed (basically, you click the little blue shield in the bottom right corner) And you'll see the charges and also how many "credits" you have left before you next need to prepay:



The 2FA service is provided by a third-party... TrustedCoin. There are costs associated with providing the service... these charges go towards covering these costs. Note that this money is NOT being collected by Electrum... it is a separate payment to TrustedCoin to pay for the provided service.


You've already prepaid for the next 19 2FA enabled transactions... you might as well keep using it until then as I believe the 2FA charges are non-refundable.

If you no longer want to use the 2FA functionality, You can disable it as follows:

Step 1 - Create new 2FA wallet:



Step 2 - Select "I already have a seed":



Step 3 - Enter your recovery seed (it should show as "2fa"):



Step 4 - You'll be asked if you want to "keep" or "disable" 2fa... select "disable":



This will restore your wallet with two sets of private keys in the wallet file, so you can self-sign the multisig transactions without needing to use the TrustedCoin service (ie. no charge).

Alternatively (and probably the best long term solution) is to simply create a new "standard wallet" and transfer all your coins to the new wallet. 2FA wallets are a special type of "MultiSig" wallet... and can cause issues down the line should you need to sign messages or claim coins from forks etc.

Yes. Create a new wallet without 2FA, and restore your old wallet with your seed phrase.

The transaction was confirmed in 3 minutes. Nothing to do against it.

The transaction to TrustedCoin address is still unconfirmed. Can I cancel it???

Wow!!!! Just wow!!!!

What the fuck is that for??? I am paying 0.001 bitcoin for 2FA!!!!


I didn't know that! Why did I choose to enable that shit! This is seriously not fair! I wasn't told I was gonna be charged 0.001BTC for 20 transactions!!!

How can I turn it off??

Really not fair!!!! They could have told me, or I could get a warning somehow in Electrum!!!  If I knew I wouldn't have turned on this shit!!!!!!!!

I am in a rage!!!

This is shocking!!!!

You're using an Electrum 2FA wallet... as per the notice during wallet setup, the 2FA wallet charges a small fee per transaction for the 2FA service (operated by third party TrustedCoin). The fees charged by TrustedCoin are "prepaid" in chunks of 20 or 100 transactions.

You can read more about the service and the costs here: https://api.trustedcoin.com/#/electrum-help

You have paid for 20 credits with your 0.001... you now have 19 "credits" left before you have to pay again

The 0.001 Bitcoin is most likely a charge for using 2FA. It gets more people by surprise.

See https://api.trustedcoin.com/#/electrum-help (thanks to ranochigo for the link).

Guys, could you tell me what is happening with this transaction?

https://blockchain.info/tx/54b06735a6e226dc6bde907ebf328413d529a5d30a6700a118579db4e9cf2914


I sent 0.001 to this address: 13a4zGV35LUJUEfRbBfSNcSUo4RWtQv8Cn

You can see that the input is 0.002, even though I sent 0.001 bitcoin.

Could anyone please explain to me why I see 3 addresses in the output? 

I sent only 0.001 btc and already received the exchanged amount in fiat. I don't understand why the output is showing 3 addresses?

Is there something wrong with this transaction? Or did I actually accidentally input 0.002 instead of 0.001 and didn't notice it??? Honestly, I don't remember now...  I actually sent this amount to an exchange. If I accidentally sent the wrong amount can I actually demand they pay me the I amount I sent. I already received the payment for 0.001 btc in fiat. My balance is showing funny amounts as well I don't understand it.

here's a screenshot of my balance https://i.imgur.com/b34NkCU.png

I am a newbies, yes. This is the first time I have sent a payment to someone.


Please help to clarify this situation... Was this my mistake??? Did I actually input 0.002??? 

Thank you in advance!