Help me understand BTF Trans fees I researched it, but my fee doesn't make sense

[AESyn]

See attached screenshot of a preview of a transaction.

So I have a confirmed balance of .00211702 BTC in electrum.
I clicked MAX to transfer all of it to another wallet.
I used the manual fee adjustment in Electrum and set it to 1 SAT/BYTE, which is telling me the fee will be 0.00000285 BTC.

Even if this fee was taken out, why is the MAX available sent still only .00111417 when I have a confirmed balance of .00211702 BTC?

Thanks for the help.

https://i.imgur.com/jPLPH6s.png

[ralle14]

After a quick look at the screenshot you've provided, it seems that the remainder is going to a change address have you tried adjusting the amount manually to BTC0.00211417 after you've reduced the fee to 1 satoshi ?

[AESyn]

After a quick look at the screenshot you've provided, it seems that the remainder is going to a change address have you tried adjusting the amount manually to BTC0.00211417 after you've reduced the fee to 1 satoshi ?

Yes. So unless I'm just hungover from yesterday and my brain isn't working at full capacity, the math should go:

.00211702 - .00000328 (which is 1 sat/byte as shown in the screenshot) = .00211417

However, as soon as I try to adjust the send amount, and start typing ".002...." Immediately electrum states at the bottom left  insufficient funds. Please see screenshot.

https://i.imgur.com/jEIzAQL.png

Am I just hungover or is my math correct? And if my math is correct, why can't I send at least net  .00211417 after the .00000328 fee? Also, 1 sat/byte is enough for my transaction to go through, albeit slowly and not be in BTC limbo, correct? Electrum WAAAAY overestimates the transaction fees. I can't imagine anyone using the default transaction fee unless they were desperate.

Thanks for your advice. Much appreciated.

EDIT: The change address seems to be directed back to my electrum wallet. Why is that?

[pooya87]

edit: this is as @LoyceMobile said, i didn't know about the color codes! read @bob123 comment.

first go to your history tab and check if you have any "local" transactions. the second picture showing the insufficient funds error might be because you saved the previous tx after previewing it which means your wallet might be expecting it is spent.
then try clearing what you set in those fields in send tab and set the fee to 1 s/b then click max.

also check if you are paying the 2FA fee. the first picture doesn't show any fees which means you have already paid the fee needed for 10(?) transactions in your very first tx you made in this wallet but clicking max and still having a change still doesn't make sense.

[khaled0111]

It looks like you have a frozen UTXO!

[LoyceMobile]

You enabled 2FA, and your first transaction pays 0.001 for that.

This happens a lot, and there are some topics explaining how to get rid of it.

[khaled0111]

You enabled 2FA, and your first transaction pays 0.001 for that.

Didn't know that multisig addresses can start with bc1
TrustedCoin fees are 0.001/20 transactions or 0.0025/100 transactions.

This happens a lot, and there are some topics explaining how to get rid of it.

To disable 2FA, you have to restore the wallet from seed.

[pooya87]

You enabled 2FA, and your first transaction pays 0.001 for that.

This happens a lot, and there are some topics explaining how to get rid of it.

isn't highlighted addresses mean that address belongs to your wallet? initially i posted the same answer but removed it because i saw that highlight and thought the 0.001 to the bc1 address ending with ...jsx was his own (change address)!

[bob123]

isn't highlighted addresses mean that address belongs to your wallet? initially i posted the same answer but removed it because i saw that highlight and thought the 0.001 to the bc1 address ending with ...jsx was his own (change address)!

Receiving addresses are highlighted green.
Change addresses are highlighted yellow.
TrustedCoin addresses are highlighted blue.

So, it is definitely because OP created a 2FA wallet and didn't yet pay the fee for co-signing (probably his first TX out of this wallet).


@OP:
If you don't want to pay for 2FA, recreate your wallet with your seed and send your coins.
If you don't plan to use 2FA in the future, create a new wallet without 2FA and send all remaining funds to this wallet.