Wallet creating new addresses. | Bitcointalksearch.org

BlackHatCoiner

legendary

Activity: 1512

Merit: 7340

Farewell, Leo

Quote from: Old layer on January 27, 2023, 03:29:54 PM

Is this something I should be concerned about?

The concern is privacy-related. No, you don't harm anything other than your privacy when reusing a Bitcoin address.

A similar, common question is the change addresses. If you haven't noticed already, your wallet software is likely to categorize addresses in "receiving" and "change". The former is when you hand over an address to someone, and expect to receive funds. The latter is, as the name suggests, your change; the destination after you've spent a transaction output, just like in real life when the cashier gives you change.

hosseinimr93

legendary

Activity: 2380

Merit: 5213

Quote from: Old layer on January 27, 2023, 03:29:54 PM

I just received my first Bitcoin today, and I noticed that a new bech31 address has been added to my wallet, while the previous bech31 address is no longer visible.

There is no bech31 address. What you are talking about is bech32. They are addresses that start with bc1.

Quote from: Old layer on January 27, 2023, 03:29:54 PM

What will happen to my Bitcoin if I decide to transfer some sats to the former address?

You will receive the fund and there's nothing to worry about. You have numerous addresses all generated from a single seed phrase and you can use any of them.
Take note that all bitcoin transactions are publicly recorded on the blockchain and anyone in the world can see them. That's why your wallet generates a new address for you, so that you can protect your privacy if you are going to receive another bitcoin transaction.

witcher_sense

legendary

Activity: 2310

Merit: 4313

🔐BitcoinMessage.Tools🔑

Quote from: Old layer on January 27, 2023, 03:29:54 PM

I just received my first Bitcoin today, and I noticed that a new bech31 address has been added to my wallet, while the previous bech31 address is no longer visible. So here's my question.

What will happen to my Bitcoin if I decide to transfer some sats to the former address?
Is this something I should be concerned about?

The Wallet name is MYCELIUM.

Your wallet generates a new address each time the "old" one receives bitcoin. It is not a bug, but a wallet feature that tries to protect you from unintentional address reuse. Address reuse is when you use the same address on a recurring basis. This is not against the rules of Bitcoin protocol to reuse your address, but it is kind of bad for your transactional privacy. So, after you receive a payment, you still have control over the address and you can reuse it freely. Don't be afraid of making transactions on the bitcoin network, but do it wisely. If you are unsure if your payment will reach its destination, try to send a negligible amount first and see if it succeeds.

Old layer

newbie

Activity: 13

Merit: 8

I just received my first Bitcoin today, and I noticed that a new bech31 address has been added to my wallet, while the previous bech31 address is no longer visible. So here's my question.

What will happen to my Bitcoin if I decide to transfer some sats to the former address?
Is this something I should be concerned about?

The Wallet name is MYCELIUM.

Topic: Wallet creating new addresses. (Read 37 times)