Transaction (Identical Addresses)

[Cyber_Alien]

Hello dear community,
I have a question.

I've never experienced a transmission issue with transactions.

I merely wanted to know whether or not the deal will be successful.

As an example:

Imagine that I have my wallet address copied to my clipboard and that I want to send 5BTCs to someone. I accidentally paid to my address.


If I authorize the command, the transaction will succeed or fail?

Because the addresses for sending and receiving are identical.


Thank you.

[Edwardard]

If I authorize the command, the transaction will succeed or fail?

It should succeed but you won't be facing any problems. If you are sending to your own address, you should see the BTC being counted back to your wallet after getting confirmation from the blockchain. Typically, its just the same thing as "transferring" funds to any given BTC address.

[bitmover]

Imagine that I have my wallet address copied to my clipboard and that I want to send 5BTCs to someone. I accidentally paid to my address.


If I authorize the command, the transaction will succeed or fail?

Because the addresses for sending and receiving are identical.


Thank you.

You can send the coins to the same address.

Actually, this can be good if you have multiple inputs and send them in a low fee, so you can consolidate them and pay lower fees in the future.

[FatFork]

If I authorize the command, the transaction will succeed or fail?

Because the addresses for sending and receiving are identical.

Yes. If you authorize a Bitcoin transaction to the same address, the transaction will likely succeed. However, depending on the network conditions, you may need to include a transaction fee in order for your transaction to be processed. If the fee is too low, your transaction may not be prioritized by miners and may take longer to be included in the blockchain.

It's worth mentioning that some Bitcoin owners will occasionally engage in this type of transaction during periods of low network activity in order to consolidate multiple small inputs into a single unspent transaction output (UTXO). This can help to reduce future transaction fees.

[BlackBoss_]

You are fine and you won't lose your bitcoins.

When you make a bitcoin transaction, it is an on-chain transaction on Bitacoin network. It must be confirmed by miners so you will lose a bit satoshi as transaction fee for miners who confirm a block which proceeds your transaction.

It is not a matter where you send your bitcoins to. To an address in a different wallet or to a ln address in a same wallet or to a same address in a same wallet, you will always have to pay bitcoin transaction fee in satoshi unit.

You will have wait at least 1 confirmation for that transaction then you can move your bitcoins again to another address or another wallet.

If it is an exchange wallet, they usually require 2 or 3 confirmations, before you can withdraw youra bitcoins.

[BitMaxz]

Like others said yes it would succeed but it won't be a problem because it will send to an address that you fully control except if you send it to another address you don't have control you just give away the 5BTC and there is no way to reverse or to cancel this transaction unless you know who owns the address you can ask him to send it back to your wallet.

I suggest if you are copying any address before you hit send always triple check the copied address and the transaction to make sure you are sending it to the right address because if you sent it to unknown address there is no way to recover them.

[nc50lc]

Because the addresses for sending and receiving are identical.

There shouldn't be any issue by doing that.
In the background, you're spending an "Unspent Transaction Output" (UTXO) which will be used as an input of the transaction
and with it, create new UTXO(s) which will be the output(s) of the transaction.

Basically, the input is a script the you've unlocked to spend coins and the output is a script that locks coins from that input;
it's only shown as address in your wallet, so...

TL;DR: When sending bitcoins, you're not actually sending to addresses.

There's more info about Bitcoin txns here:

• learnmeabitcoin.com/beginners/transactions
• https://learnmeabitcoin.com/technical/input
• https://learnmeabitcoin.com/technical/output

[hosseinimr93]

You will have wait at least 1 confirmation for that transaction then you can move your bitcoins again to another address or another wallet.

Some wallets like electrum allow you spend the unconfirmed outputs and you wouldn't have to wait for the receiving transaction to be confirmed.
It's just that as long as the parent transaction in unconfirmed, the child can't be confirmed.

[LoyceV]

Imagine that I have my wallet address copied to my clipboard and that I want to send 5BTCs to someone. I accidentally paid to my address.

Here's an idea:

Check, double check and tripple check before sending funds!

Don't trust your clipboard with Bitcoin addresses, see How to lose your Bitcoins with CTRL-C CTRL-V.

[khaled0111]

As long as the receiving address is valid then the transaction will be processed with no problems.
Actually, being able to send to your own address has many advantages and it's even necessary in some cases. For example, when you want to consolidate your inputs without having to use a different address. Or when using a wallet with a single address (paper wallet) and need the change amount to be sent to the same address.
However, as Loyce suggested above, always double check the transaction details before hitting the send button.

[Lida93]

I haven't had such experience with identical address in all my transactions I have successfully taken so I can't really say if tt's going to succeed or fail. What I want to say is, for the users saying it will succeed are they saying so out of personal experience or based on the idea that since it's identical address then it should succeed?

[khaled0111]

for the users saying it will succeed are they saying so out of personal experience or based on the idea that since it's identical address then it should succeed?

Yes, it's based on personal experience. I did this multiple times every time I needed to consolidate some small inputs (to save in fees later).
Here is an example taken from the most recently mined block where the recipient address is the same as the sending address: 3P79Dvs...
Please read the articles provided by nc50lc for better understanding of how bitcoin transactions work.

[nc50lc]

-snip- What I want to say is, for the users saying it will succeed are they saying so out of personal experience or based on the idea that since it's identical address then it should succeed?

Most of those who have advanced understanding of Bitcoin or blockchain must have said it because of the famous phrase: "there're no addresses in the blockchain".
In the background, sending to the same address is just the same as other transactions.

I think the confusion is brought by treating Bitcoin like a bank account,
that's the reason why I've linked a beginners guide in my previous reply for OP to understand that it doesn't work that way.