Large number of unspent outputs Consolidate some outputs message

[tulpe123]

Hello


today when i logged in into my blockchain wallet and wanted to send a small amount of btc to pay a service i saw a popup ( yellow ) with the message:

Large number of unspent outputs Consolidate some outputs message

i already read about it in the forum but i need help though.


i have XX bitcoins in my wallet ( its not 1 wallet where the coins are at as i use the " my wallet " service of blockchain which generates everytime i receive btc to my wallet a new one )

the maximum bitcoins i can spent now is still XX but aprox -2,xx Bitcoins which is more then 8200 euro right now and i dont want to loose it!

how can i fix that issue? and is it safe to receive more btc to that wallet or better create new

[HCP]

It sounds like you must have received a lot of "dust" sized transactions. Cloud mining? faucet collecting?

Unfortunately, to consolidate using blockchain.info could be quite costly, unless they let you specify the fees, as a large number of inputs = large transaction size = large fee. Last time I checked, there was an advanced setting on the "send" dialog, that let you set the exact "custom" fee rate that you wanted to use.

If you want to minimise the amount of fees, without worrying about your transaction getting stuck for being "low fee", I would personally send ALL the bitcoins to a new "receive" address in your wallet using a custom fee of 10.001 sats/byte (or 0.00010001 BTC/kB depending on the units used by your wallet). This will then allow you to use the services of the ViaBTC TX Accelerator to make sure your transaction gets confirmed within ~12 hrs (usually within an hour or so). NOTE: That there is a risk that if you don't get the fee right (or it spends outputs from unconfirmed parent transactions), ViaBTC may not accept your transaction for acceleration and your transaction may get stuck for an extended period of time.

Anyway, once all your bitcoins are in one address, the number of inputs used in your transactions will be greatly reduced so your fees become lower

And finially, just to clarify... you don't have the bitcoins in multiple "wallets" as such... what you have is multiple "addresses" within ONE wallet ("My Wallet")!

[tulpe123]

hello

thank you for your reply


the custom button is still available and i used to set the custom fee between 1,50 euro - 5,00 euro up to how urgent the transaction was up to for me.

so just to keep it short the deduced bitcoins which i cant spent now ( 2,xx ) are gone?

[HCP]

You can't set things in euro, and then talk also about bitcoin amounts... it's a bit confusing

I'm not sure if you've now set the fee as 1,50 euro per byte, or the actual total fee was 1,50 euro... as far as I was aware, the blockchain custom fee let you specify what the "per byte" fee should be... I really hope you didn't set it to 1,50euro PER BYTE!!?!

[tulpe123]

im sorry



Transactionfee
Reg: 11, Priority: 126

   sat/b
Fee
0.00028476 BTC (1.29 EUR)


i sometimes set up like 1,50  ( like 300-450 sat/b  )     thats why i paid so much lol?

so should i just use the recommended bytes or how? im just confused and afraid of sending bitcoins right now

[tulpe123]

sorry  for repost


but when i set like 450 b/sat  the fee which showed me in currency BTC was like 0,00xxxx and ( 5,xx euro )


im not sure but i never ever set feees of 100-200 euro  cause i double check

[HCP]

The issue is that it sounds like you have a LOT of small, unspent outputs (hence why b.info says consolidate them)...

For instance, if you try and send say 0.1 BTC and you have 100x 0.001 BTC outputs, you'll end up with a transaction that is like 15,000 bytes... And if you set a fee of 100 sats/byte that equates to a fee of 0.015, which means you'd need to add in another 15x inputs which adds MORE fees which adds more inputs etc... Until you get to the point where you finally see to send 0.1, you have 0.05 or worse in fees! And that's with only 100 sat/byte fee... With 400 says/byte fee it is even worse.

So rather than get complaints about ridiculous fees for ridiculously large sized transactions, b.info give you the warning and tell you to consolidate the coins.

Unfortunately, they don't seem to offer any solutions or instructions on how to do that.

Like I said, send all your coins back to yourself... Use minimum of 10 sats/byte custom fee... Use ViaBTC TX accelerator... All your problems solved.

And, if possible, stop receiving small amounts of BTC. Anything less than 0.005 is really starting to get too small and will cause this issue again in the future.