Bitcoin Forum

Hello,

I am using the latest bitcoin-core, 0.14.2.
I went to this page to estimate the transaction fees:
https://bitcoinfees.21.co/api/v1/fees/recommended

At the time of writing this post: fastestFee   300
So, I went and setup 300 / 100,000 as txfee:
bitcoin-cli settxfee 0.003
true

However, I can not send out anything.

bitcoin-cli sendtoaddress 1FBpQU...............KyRLEu 0.0010
error code: -4
error message:
Error: This transaction requires a transaction fee of at least 0.001122

What can be wrong here?

Thank you.

You are correct.  My mistake.  If you would delete the embarrassing quote in your post I would appreciate it.  Did not have my coffee yet this morning.

I deleted the entire comment. Thanks again for your help.
Can you please help me with one more thing. How do I backup my wallet?
Is it safe if I simply copy and save wallet.dat into another location?

And one more question: can I create an unlimited number of addresses with the bitcoin-cli getnewaddress command? Or is there a limit?

to backup your wallet just copy wallet.dat. I prefer stopping bitcoind before doing that. don't forget to encrypt your wallet before storing it somewhere and don't lose your password.

and yes, I think there is no limit for generating new addresses. but if I remember correctly, you should make new backups from your wallet after generating addresses.

Yes, either:

a) password protect your wallet, REMEMBER the password, then copy the wallet.dat file to a safe secure location.

b) if you do not password encrypt the wallet (because you think you might forget the password) then copy the wallet.dat file to a save and VERY secure location where it cannot be accessed by anyone.  Anyone getting this unprotected wallet.dat just needs to load it and steal your Bitcoins.

No realistic limit on addresses.

Yes, once you generate addresses then you need to back up in order to back up all your newly generated private keys.

My guess is that you have less than 0.002122 BTC in your wallet (0.0010 plus the 0.001122 transaction fee).

Thank you.

I have one more question. How can I have a negative balance on one of my addresses?

{
  "": -0.05022840,
  "A": 0.00100000,
  "B": 0.04997900,
  "C": 0.00015600
}

How is this possible and how does bitcoin core handle this situation?
In a real world environment, do I have to worry if I see some of my addresses have a negative balance? Thank you.

Just use Bitcoin Cash, the real Bitcoin.

Is your wallet fully synced?
no, you don't have to worry about negative balance, you will never have negative balance on bitcoin address. your input probably has been spent twice/it's a double spend transaction, it should resolve by itself.

edit:

I think it is fully synced. How can I check this?
Also, how can I check the address of that empty "" negative account? Just to check on blockchain.info what could be the problem.

And what does it mean it has been spent twice? I paid the same amount twice?

I figured out that this is the address with negative balance:
https://blockchain.info/address/13GxBipxBX7J3wa1q5fqFqamHvA3yumZcW

Can someone explain to me what happened here?

Thank you.

Yes, I figured I set only a fee of "4.33 sat/B". Can I do anything to higher the fee to have this transaction confirmed? If not, not an issue, I am just testing now with small amounts.

Also, since I have 4 addresses with different amounts in each address, when sending out BTC, will the "sendtoaddress" command select automatically the address(es) to optimize inputs and outputs? Or do I have to do it manually via the bitcoin-cli interface?

If I will have hundreds of addresses where I receive payments, what is the general rule I can use to send out amounts to other hundreds of addresses?

Thanks for all your help.

If you want to receive payments there other alternatives, you could use blockchain.info api,blocktrail,coinbase and many others.
to fix your stuck transaction, i recommend reading this https://bitcointalk.org/index.php?topic=1802212.0

Thanks.
Why would I use a 3rd party API when I can run my own node? What are the advantages? We explored blockchain.info, but their Gap limit of 20 is causing us problems.
This is why we mainly started to look for other alternatives and decided to use our own node and the cli.

Wrong?

Yes, you're right, sorry my bad.  running full node is better, didn't knew that you'd already tried 3rd party api, it's good only for very small site.  

https://bitcoin.stackexchange.com/questions/1077/what-is-the-coin-selection-algorithm

I don't fully understand this? you could use sendmany, tx must have 3+ confirmation?

Thanks. I assume that by using sendmany to 5 address, the fees I pay will be less than paying separately to 5 addresses, right?

Am I mistaken or do transaction not technically require fees? I was under the impression that 0 fee transactions were allowed, while definitely not advised for obvious reasons. But it is perfectly allowed to send 1 satoshi/byte for example (again, not recommended). I think this is why the fees were so high not long ago, because the exchanges force them up trying to push through transactions and avoid complaints, as well as keep their business flowing. This is why we need Lightning Network yesterday!

Yes, the fee you pay will be less when you use sendmany command. make sure you don't have too many inputs. check this tool out (https://estimatefee.com).

Every transaction do requires a transaction fee that is worth about $5+, without it your transaction won’t be processed, talk less of being confirmed on the network. And you can’t send 1 Satoshi these days, because if you do, they will get lost. Some wallets allows a minimum of 0.005 (exclusion of fees).