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Author Topic: Mycelium bug? spent bitcoins, recipient's wallet states MY bitcoin balance!  (Read 766 times)
noobcoin88 (OP)
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September 07, 2017, 07:00:23 AM
 #1

I gave bitcoins to a friend. However, on my friend's mycelium wallet confirmation screen, it says,"
OUTPUTS 0.00025 BTC
               some address
               
               0.03975 BTC
               some address"

How do I keep secret how much bitcoin I have? I thought that mycelium is supposed to automatically generate another address to send the money out from in order to keep my privacy? I generated another HD account on mycelium. Do I have to send bitcoin to myself to the new account first before giving the bitcoin to my friend? Last 2 transactions, my miner's fee was $4 usd and $1.50 in bitcoin! I mean, it costed me 0.339 mBTC to send 0.25 mBTC! That's why I'd rather not send money to myself from one HD account to another. What should I do?

Thanks ;-)
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September 07, 2017, 09:07:58 AM
 #2

When you send a Bitcoin transaction, the transaction will record (and anyone can see):

A. All the addresses providing inputs and how big those inputs are
B. All the addresses receiving outputs and how big those outputs are

If you don't want people to see all your bitcoins, keep them in separate UTXOs, in separate addresses... although some basic blockchain analysis and tracking the transactions can probably piece that together, unless you were to use a bitcoin mixer to split them all up etc.

The problem with keeping them split up in smaller chunks, is that if you need to send a larger amount, you need to combine several of them together (which will drive up the transaction size and the transaction fee).
The problem with keeping them consolidated in larger chunks, is that people will see you have more.

You will need to decide what your priorities are.

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