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Title: Consolidating small amounts of Bitcoins into one larger amount Post by: bonsai99 on May 17, 2013, 10:19:45 PM I am still somewhat of a noob when it comes to bitcoin and I have a bunch of small transactions (mostly from bitcoin faucets) and I have heard that trying to spend my BTC with all of these small transactions in it would result in a large fee. I was wondering if there is any way to consolidate these multiple small amounts and turn them into one larger amount.
Thanks Title: Re: Consolidating small amounts of Bitcoins into one larger amount Post by: dserrano5 on May 18, 2013, 03:19:42 PM I was wondering if there is any way to consolidate these multiple small amounts and turn them into one larger amount. The hardest part is convincing someone to lend you a sizable amount. Then, consolidating your inputs without paying a fee is possible. Title: Re: Consolidating small amounts of Bitcoins into one larger amount Post by: Matthew N. Wright on May 18, 2013, 03:22:46 PM I was wondering if there is any way to consolidate these multiple small amounts and turn them into one larger amount. The hardest part is convincing someone to lend you a sizable amount. Then, consolidating your inputs without paying a fee is possible. If that's all that were necessary, couldn't you just have the party with a sizable amount import your smaller wallet with multiple small inputs and sendmany the respective amounts to their 2 individual owners? Then the trust would be shifted to the party with the sizable amount of coins. Title: Re: Consolidating small amounts of Bitcoins into one larger amount Post by: dserrano5 on May 18, 2013, 04:05:24 PM Yes of course. Another option is constructing a raw transaction taking the output(s) from the wealthy guy and all the dust outputs from the OP and sending the correct amounts to each one, and have both parties sign it. It involves some manual work, though.
Title: Re: Consolidating small amounts of Bitcoins into one larger amount Post by: Birdy on May 18, 2013, 04:10:27 PM Without raw transactions:
If you want to do it yourself you should use Coin Control: https://bitcointalk.org/index.php?topic=144331.0 With an higher amount of BTC you can bundle some of the dust with it after some time for free (~3 days with 1 BTC, ~6 days with 0.5 BTC and so on) |