Why am I receiving a negative? - electrum

[artofwar]

As per the picuture. Can somebody explain to me?

[LoyceMobile]

It means you made a transaction yourself, sending funds to someone else.

Collecting dust amounts of Bitcoin is quite useless, I recommend you read https://bitcointalk.org/index.php?topic=2848987.0.

[artofwar]

It means you made a transaction yourself, sending funds to someone else.

Collecting dust amounts of Bitcoin is quite useless, I recommend you read https://bitcointalk.org/index.php?topic=2848987.0.

what? you mean if I sent 0.00001 100 times to my friend, it will be useless?

[joniboini]

what? you mean if I sent 0.00001 100 times to my friend, it will be useless?

No, your friend can still 'use' it but doing something like that is wasting your time & money. You might as well make 1 transaction with 0.001 amount rather than spending 0.00001 for 100 times. Dust transaction is a transaction with low values and fees, which will probably take a very long time to get confirmed (or probably never, depends on the network status). CMIIW.

[Thirdspace]

what? you mean if I sent 0.00001 100 times to my friend, it will be useless?

I would say costly to use it. one utxo input worth 100-150 sats in a transaction
to send that 0.00001 (= 1000 satoshi) from segwit address to another single segwit address,
will cost you (at 1s/byte) around 144 satoshi... that's 14% of total amount transacted

look at your transaction, to consolidate 11 utxo of total 0.00011 you paid 0.000016
sent 11,000 sats and received 9,400 sats, 1600/11000 = 14.5% in fee

[Abdussamad]

the outgoing transaction is for 0.000016 not 0.00001. those 0.00001 transactions are incoming ones.

[tutanxy]

i don't know if is ok to ask here. is ok if i choose standard wallet after i installed electrum?

[Abdussamad]

@tutanxy yes but create a new thread for any further questions

[artofwar]

the outgoing transaction is for 0.000016 not 0.00001. those 0.00001 transactions are incoming ones.

my head is spinning really fast now. 

[Rath_]

my head is spinning really fast now.  

It means that someone has sent you 0.000001 BTC multiple times and you have sent 0.0000016 BTC once. It looks like you haven't used Electrum a lot. Take at Electrum tutorials which I wrote for beginners and advanced users.

Don't forget that you will pay a lot in the future for a transaction if you decide to send everything from your wallet to a different address. Every 0.000001 BTC transaction is a separate input which will increase the size of the transaction. Learn more about it here. It might be a bit confusing for you at the beginning, focus on Electrum first.

[Thirdspace]

the outgoing transaction is for 0.000016 not 0.00001. those 0.00001 transactions are incoming ones.

my head is spinning really fast now. 

can you post the txid with the -0.000016 amount?
I just want to make sure that my previous post is correct on the situation
it was based on the assumption that you are sending all utxo back to your own wallet

[artofwar]

the outgoing transaction is for 0.000016 not 0.00001. those 0.00001 transactions are incoming ones.

my head is spinning really fast now. 

can you post the txid with the -0.000016 amount?
I just want to make sure that my previous post is correct on the situation
it was based on the assumption that you are sending all utxo back to your own wallet

here it is https://www.blockchain.com/btc/tx/c05e6d83a7891c997f906666ecb512f8448df7f2c2940f1a2001ea61b6fd6533

what makes me more confuse is, estimated btc transacted is zero.

[Rath_]

here it is https://www.blockchain.com/btc/tx/c05e6d83a7891c997f906666ecb512f8448df7f2c2940f1a2001ea61b6fd6533

what makes me more confuse is, estimated btc transacted is zero.

The estimated BTC transacted is zero because you sent those bitcoins to yourself (the same address). You have combined two inputs into one which is a good thing to do when the transaction fees are low but you did it accidentally with only two out of ten transactions which you have received. Here you can see it more clearly.

[HCP]

what makes me more confuse is, estimated btc transacted is zero.

That is just blockchain.com's "guess" at how much BTC was actually sent from the "sender" to the "receiver" (excluding fees)

As the "sender" and the "receiver" are the same in this transaction (ie. from Address: 1PBbL...GNuPs to Address: 1PBbL...GNuPs), then they are saying that NO BTC was actually sent from PersonA to PersonB... which is correct. All that happened was you spent inputs totalling 0.00003000 BTC from 1PBbL...GNuPs, paid a fee of 0.00001600 BTC and received 0.00001400 BTC back to 1PBbL...GNuPs).

Essentially, you just wasted 0.00001600 BTC.

[bob123]

Essentially, you just wasted 0.00001600 BTC.

I wouldn't necessarily call that wasting.

In case of fees rising again to a multiple of the current fees, his UTXO's would have been worthless.
But now he still can use them with higher fees, since it is only one UTXO now.

Actually the only way to be able to use such small UTXO's is to consolidate them when fees are low, even though the percentage paid in fees is quite high :7

[jackg]

Essentially, you just wasted 0.00001600 BTC.

I wouldn't necessarily call that wasting.

In case of fees rising again to a multiple of the current fees, his UTXO's would have been worthless.
But now he still can use them with higher fees, since it is only one UTXO now.

Actually the only way to be able to use such small UTXO's is to consolidate them when fees are low, even though the percentage paid in fees is quite high :7

I call it wasting...

It’s one input to another input as far as I can tell so it is quite a wasteful thing to do.

The percentage will remain high since the minimum fee you can now send is 1 sat per byte and everyone just seems to be going along with that (for some reason). There’s probably a better chance of just leaving the coins there and hoping they’ll become valuable some day and you will get your bitcoin at more than 86% of the value you’re trying to send.

Edit: ok it’s two inputs to one output but it’s still pretty wasteful.

[LoyceMobile]

Essentially, you just wasted 0.00001600 BTC.

It would even have been better to never use the 10k sat at all. What OP did was throw away 10k sat to turn 20k sat into 14k sat.
I've seen much worse when fees were very high: some wallets send dust when it would be cheaper to exclude the dust.

[artofwar]

Essentially, you just wasted 0.00001600 BTC.

It would even have been better to never use the 10k sat at all. What OP did was throw away 10k sat to turn 20k sat into 14k sat.
I've seen much worse when fees were very high: some wallets send dust when it would be cheaper to exclude the dust.

I have a question, let say I have 10,000 users.

each on of them deposit to my wallet (xpub generate 10,000 address for each user for deposit)

After receiving their bitcoin, I will instantly forward it to my cold wallet.

If I want to send from my cold wallet to one address, is that mean my output will be 10,000 addresses, and I will need to pay huge fees?

[TryNinja]

I have a question, let say I have 10,000 users.

each on of them deposit to my wallet (xpub generate 10,000 address for each user for deposit)

After receiving their bitcoin, I will instantly forward it to my cold wallet.

If I want to send from my cold wallet to one address, is that mean my output will be 10,000 addresses, and I will need to pay huge fees?

Yes. But instead of sending a transaction (to your cold wallet) every time you receive coins in your hot wallet, you can:

a. Receive them directly in your cold wallet and consolidate the funds from time to time with a low fee (making all inputs become just one that can be spent in the future).
b. Wait until you get a few transactions and send all of your coins to your cold wallet with just one big transaction (e.g: instead of 10 transactions of 1 input - resulting in 10 outputs -, you can do 1 transaction of 10 inputs - resulting in just 1 output).

[artofwar]

I have a question, let say I have 10,000 users.

each on of them deposit to my wallet (xpub generate 10,000 address for each user for deposit)

After receiving their bitcoin, I will instantly forward it to my cold wallet.

If I want to send from my cold wallet to one address, is that mean my output will be 10,000 addresses, and I will need to pay huge fees?

Yes. But instead of sending a transaction (to your cold wallet) every time you receive coins in your hot wallet, you can:

a. Receive them directly in your cold wallet and consolidate the funds from time to time with a low fee (making all inputs become just one that can be spent in the future).
b. Wait until you get a few transactions and send all of your coins to your cold wallet with just one big transaction (e.g: instead of 10 transactions of 1 input - resulting in 10 outputs -, you can do 1 transaction of 10 inputs - resulting in just 1 output).

Which mean, channel all deposit to my cold wallet (ledger nano for example)

but by using my ledger nano's xpub in my server to receive deposit, which mean there will be 10,000 addresses too, sending from here to a hot wallet for example will cost me huge fees too right?

*anyway is that how exchangers like binance do? channel all deposit to cold wallet first and sign for hot wallet later?