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Author Topic: Moving from Multibit HD  (Read 546 times)
shamzblueworld
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July 20, 2017, 09:24:31 AM
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Fed up with problems of Multibit HD now (have to restore back to the first backup every time I have to open my wallet, otherwise password does not work) I've decided to move to another desktop wallet.
For now I'm considering Electrum, is this the best choice? Please suggest.
And secondly, what is the best and quickest way to move my coins from one wallet to another?
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mocacinno
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July 20, 2017, 09:29:46 AM
 #2

Fed up with problems of Multibit HD now (have to restore back to the first backup every time I have to open my wallet, otherwise password does not work) I've decided to move to another desktop wallet.
For now I'm considering Electrum, is this the best choice? Please suggest.
And secondly, what is the best and quickest way to move my coins from one wallet to another?


I've been using electrum for years without a hitch... I would consider it secure and easy to use.
The easyest way to move your coins would be to create one single transaction using your multibit HD spending all unspent outputs as an input and only generating one output that can be spent by the first address of your new electrum wallet.

In other words: create a new, clean electrum wallet, generate a payment request, then withdraw everything in your multibit HD to this electrum-generated address... Since it's a transaction between two wallets you own, you can cheap out on the fees a little bit Wink

BTW: don't discard the recovery seed phrase of your multibit HD, it's a good habit never to throw away these things...

shamzblueworld
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July 20, 2017, 10:07:07 AM
 #3

Fed up with problems of Multibit HD now (have to restore back to the first backup every time I have to open my wallet, otherwise password does not work) I've decided to move to another desktop wallet.
For now I'm considering Electrum, is this the best choice? Please suggest.
And secondly, what is the best and quickest way to move my coins from one wallet to another?


I've been using electrum for years without a hitch... I would consider it secure and easy to use.
The easyest way to move your coins would be to create one single transaction using your multibit HD spending all unspent outputs as an input and only generating one output that can be spent by the first address of your new electrum wallet.

In other words: create a new, clean electrum wallet, generate a payment request, then withdraw everything in your multibit HD to this electrum-generated address... Since it's a transaction between two wallets you own, you can cheap out on the fees a little bit Wink

BTW: don't discard the recovery seed phrase of your multibit HD, it's a good habit never to throw away these things...
Thanks, one little query, suppose I have 100 mB, can I actually make a transaction of exactly 100 mB or should I have to leave some for fees?
If yes, then how much? Because the fees are being set dynamically in Multibit HD so not sure how much fees will be for my particular transaction? Is there a way to calculate?
mocacinno
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July 20, 2017, 10:55:11 AM
 #4

Fed up with problems of Multibit HD now (have to restore back to the first backup every time I have to open my wallet, otherwise password does not work) I've decided to move to another desktop wallet.
For now I'm considering Electrum, is this the best choice? Please suggest.
And secondly, what is the best and quickest way to move my coins from one wallet to another?


I've been using electrum for years without a hitch... I would consider it secure and easy to use.
The easyest way to move your coins would be to create one single transaction using your multibit HD spending all unspent outputs as an input and only generating one output that can be spent by the first address of your new electrum wallet.

In other words: create a new, clean electrum wallet, generate a payment request, then withdraw everything in your multibit HD to this electrum-generated address... Since it's a transaction between two wallets you own, you can cheap out on the fees a little bit Wink

BTW: don't discard the recovery seed phrase of your multibit HD, it's a good habit never to throw away these things...
Thanks, one little query, suppose I have 100 mB, can I actually make a transaction of exactly 100 mB or should I have to leave some for fees?
If yes, then how much? Because the fees are being set dynamically in Multibit HD so not sure how much fees will be for my particular transaction? Is there a way to calculate?


I've actually written a little tool to help with such query's Wink
https://www.mocacinno.com/page/feeestimate

Just enter the number of inputs, and one output, and you'll know exactly what the most optimal fee at this very moment should be...

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July 20, 2017, 12:17:25 PM
 #5

MultiBit HD has a built in "Empty Wallet" function: https://multibit.org/help/hd0.4/empty-wallet.html

That should allow you to send all your coins to an address of your choosing.

I've never used it, so I'm not 100% if it shows the transaction fee etc on the confirmation screen BEFORE you actually send the transaction out. You can try and cheap out on fees by messing with the slider in (Preferences -> Fees) but i think it's broken... even though it says Fee is in Btc/kB, it actually just seems to use whatever value is set as the actual fee regardless of transaction size... so I'd it says 0.00010000 btc/kB, the fee will actually be 0.00010000 btc total.

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