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Author Topic: Consolidating accounts with extremely low balances?  (Read 580 times)
Kryptox
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January 22, 2013, 06:40:33 PM
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Noob question. 

I can't figure this out.  I have a lot of BTC addresses with really small amounts.  Like 0.000671...etc.  I'm using blockchain.info and when I try to move these small amounts into my main account it doesn't let me because there isn't enough to cover the fee the nodes would like to get paid.  I even set it to "frugal" so that there would be no fee paid but that doesn't work.  I don't care if it takes days for it to clear, but it's just a bit irritating to dispose of these addresses while there's still a balance.
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SgtSpike
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January 22, 2013, 06:47:20 PM
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Might have to wait until BTC is worth a lot more and transaction fees drop to the 0.000005 area.
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January 22, 2013, 06:48:21 PM
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Noob question. 

I can't figure this out.  I have a lot of BTC addresses with really small amounts.  Like 0.000671...etc.  I'm using blockchain.info and when I try to move these small amounts into my main account it doesn't let me because there isn't enough to cover the fee the nodes would like to get paid.  I even set it to "frugal" so that there would be no fee paid but that doesn't work.  I don't care if it takes days for it to clear, but it's just a bit irritating to dispose of these addresses while there's still a balance.

..Why not just have one address for all your BTC?

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Kryptox
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January 22, 2013, 06:51:44 PM
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I've sent BTC before without paying any transaction fee, just takes forever to get confirmed.  Mind you these were with larger amounts.  If this is the case though, pretty soon there won't be any Bitcoin left as they'll all be lost in millions of accounts with 0.000001 BTC.  Wink

EDIT:  I have a lot of addresses because I thought it would be a good way of tracking transactions, and some (barely any) added anonymity.
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January 22, 2013, 07:06:55 PM
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. . . there won't be any Bitcoin left as they'll all be lost in millions of accounts with 0.000001 BTC . . .
Well, to start with, if there aren't many bitcoins left, then the value of each remaining bitcoin will be significantly higher.  If 0.000001 BTC is worth $1 then the necessary fee to send it will probably end up being lower (perhaps 0.00000001 BTC?).

Regardless, if millions of accounts loose 0.000001 BTC, that really won't be much loss.

Lets assume 100 million accounts all loose 0.000001 BTC.  What is the total amount of bitcoins lost in that manner?
100,000,000 X 0.000001 = 100 BTC.

The total amount of bitcoins that will exist is a bit less than 21,000,000.

This means that 100 BTC lost is about 0.0005%

Kryptox
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January 22, 2013, 07:07:41 PM
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Holy crap mate.  I was kidding.  See the  Wink ?   Your math is excellent though. 

So strange that you can't send these small amounts.  What if I wanted to buy one LTC or TRC with BTC.  Would cost me more in fees than the actual coin.
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January 22, 2013, 07:09:44 PM
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Holy crap mate.  I was kidding.
Sure. But the math is still fun to do.  Grin

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January 22, 2013, 07:46:33 PM
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I can't figure this out.  I have a lot of BTC addresses with really small amounts.  Like 0.000671...etc.  I'm using blockchain.info and when I try to move these small amounts into my main account it doesn't let me because there isn't enough to cover the fee the nodes would like to get paid.  I even set it to "frugal" so that there would be no fee paid but that doesn't work.  I don't care if it takes days for it to clear, but it's just a bit irritating to dispose of these addresses while there's still a balance.

You might want to take a look at my CheapSweep script.  Zero-fee transactions can take 1-3 hours (or maybe more) to confirm, but I've not had one not get confirmed yet.

(Edit: Had received a report of trouble between CheapSweep and recent bitcoind betas, but was unable to confirm...it worked for me yesterday.)

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January 23, 2013, 12:57:29 AM
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I can't figure this out.  I have a lot of BTC addresses with really small amounts.  Like 0.000671...etc.  I'm using blockchain.info and when I try to move these small amounts into my main account it doesn't let me because there isn't enough to cover the fee the nodes would like to get paid.  I even set it to "frugal" so that there would be no fee paid but that doesn't work.  I don't care if it takes days for it to clear, but it's just a bit irritating to dispose of these addresses while there's still a balance.

You might want to take a look at my CheapSweep script.  It might have issues with current bitcoind betas according to recent feedback, but it works fine with bitcoind 0.7.x.  Zero-fee transactions can take 1-3 hours (or maybe more) to confirm, but I've not had one not get confirmed yet.
this

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Kryptox
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January 23, 2013, 11:58:20 PM
 #10

Thanks, I'll check it out.
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