Multiple payments in single transaction

[escrow.ms]

I have seen peoples sending bulk payments/funds to different wallets in a single transaction.
Whats the easiest way to do that ?

[Eternity]

Do you mean sending masspay ?

[Eternity]

At least when you're using bitcoind, the best solution is using the sendmany RPC call, which allows you to create a single transaction that does many payouts. The transaction will be much smaller (in bytes) than the many single-payment transactions you had in mind (over 6 times, for 100 outputs), resulting in lower fees in total for the same effect.

If you are using Electrum

In Electrum you can use the CSV import feature to make bulk payments. It can accept either a CSV file or CSV entered into a text box.

This feature has been merged into the 1.9 version that is not released yet, but you can use it already.

https://github.com/spesmilo/electrum/pull/282

If you find this helpful donate : 1Lo68CyAqyuEYuZ6Lbk6yndik79tfo2rYz

[Raoul Duke]

Do you mean sending masspay ?

Do you mean "sendmany" transactions? masspay is a gaypal feature/service...

OP: https://en.bitcoin.it/wiki/Original_Bitcoin_client/API_calls_list
Syntax

Code:

sendmany <fromaccount> '{address:amount,...}' [minconf=1] [comment]

Example

Code:

sendmany "" '{"1AMMDszd6Jh2Ga5YMnhCin9TyfNHW23sUY":1.354639002,"1FyzUcort6ev7ReXaYBxPQBTq5PmFiSMN":10.0040671}' 1 "escrow.ms payout #5678"

[Eternity]

I know paypal use that keyword

Replied next

[Benson Samuel]

I have seen peoples sending bulk payments/funds to different wallets in a single transaction.
Whats the easiest way to do that ?

Easiest way that I could think of would be to write a script and use blockchain.info's multiple send API.

http://blockchain.info/api/blockchain_wallet_api

https://blockchain.info/merchant/$guid/sendmany?password=$main_password&second_password=$second_password&recipients=$recipients&shared=$shared&fee=$fee

$main_password Your Main My wallet password
$second_password Your second My Wallet password if double encryption is enabled.
$recipients Is a JSON Object using Bitcoin Addresses as keys and the amounts to send as values (See below).
$from Send from a specific Bitcoin Address (Optional)
$shared "true" or "false" indicating whether the transaction should be sent through a shared wallet. Fees apply. (Optional)
$fee Transaction fee value in satoshi (Must be greater than default fee) (Optional)
$note A public note to include with the transaction (Optional)
{
    "1JzSZFs2DQke2B3S4pBxaNaMzzVZaG4Cqh": 100000000,
    "12Cf6nCcRtKERh9cQm3Z29c9MWvQuFSxvT": 1500000000,
    "1dice6YgEVBf88erBFra9BHf6ZMoyvG88": 200000000
}
The above example would send 1 BTC to 1JzSZFs2DQke2B3S4pBxaNaMzzVZaG4Cqh, 15 BTC to 12Cf6nCcRtKERh9cQm3Z29c9MWvQuFSxvT and 2 BTC to 1dice6YgEVBf88erBFra9BHf6ZMoyvG88 in the same transaction.

[deepceleron]

Example

Code:

sendmany "" '{"1AMMDszd6Jh2Ga5YMnhCin9TyfNHW23sUY":1.354639002,"1FyzUcort6ev7ReXaYBxPQBTq5PmFiSMN":10.0040671}' 1 "escrow.ms payout #5678"

Note that on windows, RPC command lines have to be properly escaped if you are typing them at the command line and not into the bitcoin-qt console (Help->Debug Window->Console). Example:

Code:

bitcoind sendmany "FromAccountName" "{\"1BiTCoinSNU2BMzf2cN2TK4yzPUA6CnTAd\":.001,\"1DCeLERonUTsTERdpUNqxKTVMmnwU6reu5\":.002}"

You also must specify the internal "account" from the RPC accounting system (use listaccounts RPC command to see if there is a balance in other accounts besides the "" empty-quote default account).

[gmaxwell]

I have seen peoples sending bulk payments/funds to different wallets in a single transaction.
Whats the easiest way to do that ?

Easiest?  Press the +add destination button in Bitcoin-QT and type in the additional destination.

[deepceleron]

Easiest?  Press the +add destination button in Bitcoin-QT and type in the additional destination.

You mean this button?
   
That'd be too easy!

[escrow.ms]

Easiest?  Press the +add destination button in Bitcoin-QT and type in the additional destination.

You mean this button?
   
That'd be too easy!

Cool, i didn't knew that. Thanks

[Lionel]

How can you set the network fee with sendmany or the equivalent Blockchain api, or the Electrum CSV import?

For example i want to make 30 payments in bulk and i want to pay 0.00001 network fee for each payment, is it possible ?

[deepceleron]

How can you set the network fee with sendmany or the equivalent Blockchain api, or the Electrum CSV import?

For example i want to make 30 payments in bulk and i want to pay 0.00001 network fee for each payment, is it possible ?

It is not necessary to do so, and the fee won't be identifiable as independent to any one transaction, it would just appear as one fee of 0.0003 in that case.

The required fee is based on the data size of the transaction, not directly the amount you are sending. The standard minimum fee is 0.0001 per kB.  As the size of the transaction will result from both the number of recipients and from the number of UTXO inputs that are used in the transaction (which you do not have as much control of), you risk either paying too much (not a problem) or paying too little (more of a problem).