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Author Topic: Help! I am new I think i used the wrong receiving address!!  (Read 444 times)
anon2009
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April 04, 2017, 10:03:08 AM
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Hi I don't even know if I am posting in the correct area. I just really need some help right now.

I downloaded Bitcoin Knots and I clicked file > receiving addresses > new > then had the money sent to that address. I then went on youtube and saw people doing it completely different (ie. they were getting their address from the receive tab, whereas I got mine from the file tab in the top left corner). Have I just wasted all my money?

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AngryDwarf
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April 04, 2017, 10:06:09 AM
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Hi I don't even know if I am posting in the correct area. I just really need some help right now.

I downloaded Bitcoin Knots and I clicked file > receiving addresses > new > then had the money sent to that address. I then went on youtube and saw people doing it completely different (ie. they were getting their address from the receive tab, whereas I got mine from the file tab in the top left corner). Have I just wasted all my money?

No, that's how I do it in Bitcoin Core. If Knots is anything like core, you should first see an incoming unconfirmed transaction. This transaction should eventually get confirmed depending on the fee.

Scaling and transaction rate: https://bitcointalk.org/index.php?topic=532.msg6306#msg6306
Do not allow demand to exceed capacity. Do not allow mempools to forget transactions. Relay all transactions. Eventually confirm all transactions.
anon2009
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April 04, 2017, 10:26:36 AM
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Thank you so much AngryDwarf, I feel like a weight has been lifted!

One last question though, how long did it take Bitcoin Core to finish synchronizing for you? It says for me it will take 40 hours... I just really want to purchase something now!!
K128kevin2
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April 04, 2017, 10:51:21 AM
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Thank you so much AngryDwarf, I feel like a weight has been lifted!

One last question though, how long did it take Bitcoin Core to finish synchronizing for you? It says for me it will take 40 hours... I just really want to purchase something now!!
Bitcoin Core took a few days for me. You only need to wait through that once though, as the blockchain is saved to your computer. If you stop it, wait a while and open it again, you'll only have to download the blocks you missed.
AngryDwarf
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April 04, 2017, 11:36:25 AM
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Thank you so much AngryDwarf, I feel like a weight has been lifted!

One last question though, how long did it take Bitcoin Core to finish synchronizing for you? It says for me it will take 40 hours... I just really want to purchase something now!!

It really depends on your PC specs. There is a block validation element which requires CPU power (some full node solutions now assume blocks are valid up to a certain cut off point), and the disk based aspect of storing and indexing the blocks and transactions.

On an old magnetic disk drive, I would expect a full block chain download to take about 7 days. On a newer SSD, I would expect it to be done in 24 hours. Your mileage may vary.

Scaling and transaction rate: https://bitcointalk.org/index.php?topic=532.msg6306#msg6306
Do not allow demand to exceed capacity. Do not allow mempools to forget transactions. Relay all transactions. Eventually confirm all transactions.
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