Bitcoin in the old days did not use to do this.
When I was sent bitcoin to an address, it STAYED on that address. I could always go on blockchain explorers and see my funds.
This hasn't changed. Unless you make a transaction (obviously).
Being FORCED to use a "feature" that causes you to pay 2-4x more in fees is the real limitation.
As said before: that's incorrect. If you don't want to believe that: fine by me. But before complaining it helps if you know what you're talking about.
TL;DR: Bitcoin transaction fees are based on 2 things: the size (in bytes) and the fee you choose to pay. If your fee is too low, your transaction won't get confirmed any time soon. If you add more different inputs (think about it as a bag of small coins), your transaction gets larger and your fee goes up. That's all there is to it. The address doesn't matter, although the address
type does matter. Use Native Segwit for lowest fees.
It IS correct.
When you send too much funds and its transfering from multiple wallet addresses because of change addresses caused from previous transfers.. Guess what? You end up paying HIGHER fees than if all the funds stayed in 1 wallet.
This is simple fact and the way bitcoin use to work by default in the early days.
I use to NEVER have to worry about my funds being moved around so much that next thing I know if I go to transfer $300 or drain the whole wallet, its showing $7+ in fees simply because the funds are NOT all within 1 wallet address anymore - even though I always had funds sent to 1 wallet address only!
-snip-
It does not appear to work as you guys think.
Bitcoin in the old days did not use to do this.
When I was sent bitcoin to an address, it STAYED on that address. I could always go on blockchain explorers and see my funds.
-snip-I wont point you to technical explanations like "
there's no addresses in the blockchain" to keep things simple.
We could argue just to argue, that doesn't solve this problem.
We could point out many "technicals" of life but that doesn't help anything. Just makes you look like a troll.
I would like someone to explain if its possible for a app to be designed to just send the funds back to the original address when you spend your bitcoin instead of being sent to a new change address. I don't see why it would not.
User @nc50lc already mentioned how to achieve that on Electrum application. I suggest you to re-read what he said calmly.
Yes, nc50lc explained one way to do it, but there is actually a simpler way that the OP can use to disable the "change addresses" feature in Electrum. He probably couldn't find this option due to changes in the GUI of the newer versions of the software.
@Guessti, when you create a new transaction in the Electrum wallet and click on the "Pay..." button, a new window will open with the details of your transaction. Click on the small wrench icon in the upper right corner to open the options menu. There you can uncheck the "Use change addresses" option. Check the screenshot:
I will try it out and see if it actually works where my funds always stay within 1 wallet/address.
Right now going through the pain yet again of transfering all funds from one wallet to another, and now the funds were spread across multiple wallets (change addresses) so the fees are much higher than if it was just 1.
Its crazy how people don't remember the old days of bitcoin anymore, but they are quick to point out trivial technical bs that literally helps nothing and goes beyond the point.
Then people have the nerve to really say the fees are just higher when I send more bitcoin, NO its because the more change address your bitcoins were spread across the higher fees your gonna pay getting them all sent where you want vs them simply being in 1 address.
It was never suppose to cost more in fees just cause you send more bitcoin, if 1 million dollars in btc is sitting in one single address, then you pay the same fee as some other wallet with a penny in it.
Unless your million of dollars is spread in a bunch of change address bs now the fees start stacking. Madness!
All for this to not even truely improve privacy, every transaction I still can see on the blockchain. I see all my "changeaddresses" and where my funds went, its just messier, harder to track is all.
Worth paying 2-4x more in fees all the time?
Hellllll no. What you a terrorist or something like wtf.