Need help with electrum wallet

[Zxon]

Hi guys/girls

So basically I want to start a fresh wallet, and every time I remove electrum from my pc and reinstall it, my old transaction history is there. Is there any way I can permanently delete it?
or are their any other companies out their that provide temporary wallets?

Thanks!

[3888]

Its because the default wallet file is still on your PC. So each time you install Electrum it picks it up.

You can either delete it, check in User/AppData/Roaming/Electrum/wallets or you can just create a new wallet from the file menu.

Just make sure that you have no coins on the wallet you are deleting and also make sure that you have a backup of that wallet even if you do not plan on using it again, you never know and never is a long time.

[Abdussamad]

Electrum supports multiple wallets but you can open only one at a time. Use file > new/restore to create a new wallet and file > open to open a wallet.

If you want to create a shortcut that opens a particular wallet use the -w switch

electrum -w C:\\path\to\wallet.file

Location of wallet files:

http://docs.electrum.org/en/latest/faq.html#where-is-my-wallet-file-located

[shefchenko17]

why is there a fee on my electrum ? That fee charges me and  goes  to who? Me again!??

[shorena]

why is there a fee on my electrum ? That fee charges me and  goes  to who? Me again!??

The fee is not electrum specific, its an incentive for the miners to put your transaction in a block. If you do not pay a fee miners might still include your transaction in a block, but they will prefer other transactions that pay them for it.

[shefchenko17]

So if I make a transaction without fee that transaction may never be accomplished ?
and btw is there any way to mark from which site are the transactions made? ( I mean these that come to my wallet, not the outgoing)

[shorena]

So if I make a transaction without fee that transaction may never be accomplished ?

There are other factors like priority and the size of the transactions, but the most important factor is the fee.

and btw is there any way to mark from which site are the transactions made? ( I mean these that come to my wallet, not the outgoing)

Yes and no you can add an description to an address, but not to a transaction. Its advised to use a new address every time you receive bitcoin anyway.

[shefchenko17]

I've tried to send some btc today but it says Error:The transaction was rejected by network rules.(66: insufficient priority) and (64:dust) . What do they mean ? I'm having enough in my balance to cover the transaction + transaction fee ( which btw is within the limits) . Why is this happening and why I couldn't  send a single $ today ?

[shorena]

I've tried to send some btc today but it says Error:The transaction was rejected by network rules.(66: insufficient priority) and (64:dust) . What do they mean ? I'm having enough in my balance to cover the transaction + transaction fee ( which btw is within the limits) . Why is this happening and why I couldn't  send a single $ today ?

66 - means your fee is not high enough. Do you use the dynamic fee setting? If so, move the slider to the right until you no longer get that error.

64 - dust is any output below 2730 satoshi. If you either try to send an amount that little or if you have 2730 or less satoshi left that is send back to you as change the transaction has a very high change to not get accepted by the network.

[shefchenko17]

I'm trying to send 1.5$ with 0.07$ fee. And I'm having 3-4$ in this wallet. That is why I don't understand what the hell is happening

[shorena]

I'm trying to send 1.5$ with 0.07$ fee. And I'm having 3-4$ in this wallet. That is why I don't understand what the hell is happening

From faucets?

Bitcoin does not work with a balance even though the wallet shows it like that to make it easier to understand for humans. Every time you receive a transaction its like you receive a bill with that amount. E.g. if you receive 0.0006 BTC you now have a 0.00006 BTC bill. If you have 100 of those you have a "balance" of 0.006 BTC or currently ~2 USD. These bills however need space in a transaction, the more bills you have to use the bigger your transaction gets and the higher is the fee you need to pay in order to get a confirmation in reasonable time. Right now the suggest fee is ~16428 satoshi per kbyte for a fast transaction and 5234 satoshi per kbyte for a slow transaction. If you have to use 100 inputs (the bills we just talked about are known as inputs) they need ~180 byte each or 18kbyte total. A reasonable fee would be at least 0.00094212 BTC.

Can you give us an estimate how many of these inputs you try to use?

[shefchenko17]

Am...I'm not so sure  that I understood it correctly...But I was trying to send for once(1 transaction or 1 input?) from my wallet  to a HYIP site..

[shorena]

Am...I'm not so sure  that I understood it correctly...But I was trying to send for once(1 transaction or 1 input?) from my wallet  to a HYIP site..

Ok, lets do it slow.

How many transactions have you received in the past and what is a typical BTC value for them?

[shefchenko17]

Well a lot of transactions have been made...may be 60-70. There is no typical BTC value. Every  transaction has a different one. I receive from a lot of faucets here, I send to a couple of HYIPs different amounts of money.

[japerry]

Well a lot of transactions have been made...may be 60-70. There is no typical BTC value. Every  transaction has a different one. I receive from a lot of faucets here, I send to a couple of HYIPs different amounts of money.

It looks like the faucets are depositing lots of very small transactions into your Electrum wallet thereby creating "dust" (very small transactions) to many different addresses in your wallet. Each transaction goes to a new address. In order for Electrum to generate a "spend" transaction it must consolidate the amounts in all the different receive addresses. This can be time consuming as well as costly. You might want to consider sending most of your BTC to a different wallet (like Coinkite for instance) and then sending it bak to your Electrum wallet. This will consolidate the funds in the many small-transaction addresses and create a single address with most of your funds. This will allow you to make cheaper, more timely spend transactions.

An analogy is "Which would you rather have? A wallet with one change slot that holds all your change or many tiny slots that can only hold one coin each?"

[shorena]

Well a lot of transactions have been made...may be 60-70. There is no typical BTC value. Every  transaction has a different one. I receive from a lot of faucets here, I send to a couple of HYIPs different amounts of money.

Since you said ~4$ in the wallet, I will assume 0.02 BTC (8$ by todays value). Over 60 inputs thats 0.0003 on average. Each 0.0003 needs ~180 bytes as part of the transaction. With my estimates from yesterday you would need ot pay ~943 satoshi for each input used.

You want to transfer 1.5$ or ~0.004 BTC. With the average inputs we estimated above you will need 14 and pay a fee of at least 0.00013202 BTC. This leaves you with 0.0042  (14 inputs of 0.0003 each) - 0.0001 3202 (fee) = 0.0000 6798 change which is very close to the dust limit.

If you could not follow all these calculations, here is the important part:

You have small inputs, they either result in an insufficient fee or change that has a high change of being dust. Both is a problem which is directly related to micro transactions, e.g. from faucets.

The best you can do is follow japerrys advice (slightly modified by me) and send all your coins to yourself. Pay the high fee you have to pay for it and follow up transactions will go smoothly until your wallet is full of dust and small inputs again. Repeat as needed.

[shefchenko17]

I'm juuust a little confused but I want to clear that in all the faucets and similar sites I have put only 1 address (with 3 exceptions ) and the most of that money goes to that address. The part about coinkite and transfering everything first there and then to my electrum...couldn't follow you guys. Thanks for explanations anyway. Don't waste your time with me anymore.

[shorena]

I'm juuust a little confused but I want to clear that in all the faucets and similar sites I have put only 1 address (with 3 exceptions ) and the most of that money goes to that address.

It does not matter how many addresses you use.

The part about coinkite and transfering everything first there and then to my electrum...couldn't follow you guys. Thanks for explanations anyway. Don't waste your time with me anymore.

Just send all your coins to one of your own electrum generated addresses. You will need to pay a high fee, but afterwards you can use bitcoin like you expect it to work. I would also stay away from faucets, they are the reason you have these issues in the first place, whether you understand the details or not.

Edit: Maybe an example can help you understand. This -> https://www.blocktrail.com/BTC/tx/1f3e314e447871e53b08a5ff13d892a91120eccda2ce2262ca6d642d0ab9c0c3
is a TX I made for someone with a similar problem in the past. As you can see many addresses on the left side are the same, but every entry is a TX they received. See how small some of them are? They are from faucets. This TX combines 200 inputs into a single output at the cost of 0.00107368 as fee. This is because the fee is based on the size in bytes not on the amount you transfer. The bigger (in bytes) the TX the higher the fee. With every input (a formerly received transaction you now want to use) the size increases. Faucets are a problem because they send many transactions with small value, combining them into bigger value chunks costs coins as fee.

[shefchenko17]

So the more transactions I make, the more bytes I accumulate and more fee I pay?

[shorena]

So the more transactions I make receive, the more bytes I accumulate for the transactions I create and more fee I pay?

Almost, I fixed the sentence