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Author Topic: Can someone interpret this transaction id?  (Read 100 times)
nikkos2
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January 13, 2020, 09:12:39 PM
 #1

Hi there!

I was checking my transaction id and found something very strange.
I sent 0,03 BTC and that's what's shows in my wallet.

But when checking the transaction on blockchain.com it looks like i sent 0.11426556 BTC like this:

Hash xxxxx

From wallet xxxxx 0.11426556 BTC

To->

wallet xxxx  0.08423845 BTC
wallet xxxx  0.03000000 BTC

It looks like I sent 0.11426556 BTC but I only sent 0,03 BTC. And 0,03 BTC seems to have arrived to one wallet. But what about the 0.08423845 BTC?

Can someone explains why it looks like this?

Thanks and have a nice day! Smiley

Nikko
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January 13, 2020, 09:31:28 PM
Merited by hugeblack (1)
 #2

It's called "Change".

In Bitcoin, you don't spend a "specific" amount... you have to spend "whole" UTXO(s). So, you likely received a payment (or created a change output) of exactly 0.11426556 BTC at some point previously. Now, you want to send 0.03 BTC, but all you have in your wallet is one UTXO of 0.11426556 BTC. So, you have to spend that whole amount... so 0.11426556 is consumed, the 0.03 is sent to the recipient, and then you get 0.08423845 BTC back as change.

If you attempt to send another 0.03 BTC at this point... you'll see a transaction where the entire 0.08423845 is spent... 0.03 will go to the recipient... and you'll get ~0.054236 BTC back as "change".

It's like having a $20 bill and trying to buy a beer for $3. You have to "spend" the whole $20... the store keeps the $3 and then gives you back $17 as "change".


Read more here: https://en.bitcoin.it/wiki/Change

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January 13, 2020, 09:33:32 PM
Merited by hugeblack (1)
 #3

Hi there!

I was checking my transaction id and found something very strange.
I sent 0,03 BTC and that's what's shows in my wallet.

But when checking the transaction on blockchain.com it looks like i sent 0.11426556 BTC like this:

Hash xxxxx

From wallet xxxxx 0.11426556 BTC

To->

wallet xxxx  0.08423845 BTC
wallet xxxx  0.03000000 BTC

It looks like I sent 0.11426556 BTC but I only sent 0,03 BTC. And 0,03 BTC seems to have arrived to one wallet. But what about the 0.08423845 BTC?

Can someone explains why it looks like this?

Thanks and have a nice day! Smiley

Nikko


That's your "change".

Think of it like paying for a $5 purchase with a $10 bill.  You need to get $5 back in "change" that you put back into your wallet.

In this case, your wallet had an unspent 0.11426556 BTC unit to spend.  You wanted to spend 0.03 BTC of it.  So a transaction was created which spent the 0.11426556 BTC unit and which created 2 new unspent units.  One valued at 0.03 BTC and locked to the keys of the recipient, and an additional 0.08423845 BTC unit of "change" which was locked to a key that your wallet maintains so that it can spend that 0.08423845 BTC unit if/when needed in the future.

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January 13, 2020, 09:36:10 PM
 #4

Oh I got it! Thanks for replay!

But I wonder. Was wasn't the rest sent back to my wallet I sent from?

See here: https://www.blockchain.com/en/btc/tx/01d0147f25321b82067dddf1b5d939fb73aafffaacbd084fcbb29d6f2ee36514
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January 13, 2020, 09:37:05 PM
 #5

HCP and DannyHamilton both answered before I could.  They are very likely correct in their assessment.  

Check the address that received the 0.08423845 BTC, it's very likely your address.  Depending on the wallet software you're using you are using you should be able to search for the address, and confirm that it contains that amount.

But I wonder. Was wasn't the rest sent back to my wallet I sent from?

See here: https://www.blockchain.com/en/btc/tx/01d0147f25321b82067dddf1b5d939fb73aafffaacbd084fcbb29d6f2ee36514

Hmmm, that looks odd, the funds keep moving.  What type of wallet are using?

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January 13, 2020, 09:42:17 PM
 #6

From a Bitpay. But now I see the previous recived sum is exactly the number: 0,1124..
Hm, is this Bitpay changing my wallet number? haha
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January 13, 2020, 09:42:23 PM
 #7

Oh I got it! Thanks for replay!

But I wonder. Was wasn't the rest sent back to my wallet I sent from?

See here: https://www.blockchain.com/en/btc/tx/01d0147f25321b82067dddf1b5d939fb73aafffaacbd084fcbb29d6f2ee36514
Most likely because your wallet tries to avoid "address re-use". For privacy reasons, both yours and other people you transact with, it is a good idea to avoid re-using addresses.

Refer: https://en.bitcoin.it/wiki/Address_reuse

Most wallets, by default, will generate a new "change" address each time a transaction is generating "change". They will also generate a new "receive" address when the current one is "used".


Hm, is this Bitpay changing my wallet number? haha
This is pretty normal. I believe Bitpay is a "Hierarchically Deterministic" (aka "HD") wallet. It will "display" a new receiving address every time a previous one is "used". It will also generate new "change" addresses every time it needs to create a "change" output.

Note that Bitcoin addresses are NOT like bank account numbers. So, you don't have a "wallet number".

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January 14, 2020, 11:13:19 AM
 #8

From a Bitpay. But now I see the previous recived sum is exactly the number: 0,1124..
Hm, is this Bitpay changing my wallet number? haha
Yes, it will automatically change your wallet number/address to a new one each time you send out a transaction because bitpay was said to operate through HD multi signature wallets and every HD wallet are program like that.

 
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January 14, 2020, 11:37:34 AM
 #9

From a Bitpay. But now I see the previous recived sum is exactly the number: 0,1124..
Hm, is this Bitpay changing my wallet number? haha
You should read my thread that I wrote about change address. Here it is, What is "Change" address on bitcoin wallet ? read to know. I believe your fund is fine on your Bitpay wallet. You just seeing another address on explorer. Once you read my post you should understand all the point. Bitpay in non-custodial wallet. If you do not sent whole unspent amount then Bitpay will send change to a change address. But nothing to worry about it, all change address also belongs to your seed. If you send whole amount from your wallet then you will find just one receiving address. There is no so called wallet number change, they only change bitcoin address. Actually its call change address because your change (remain) bitcoin will sent on this address. Probably change address created when you genarate your seed. I am not sure about Bitpay but electrum create during seed genarate. So this address belongs to you from beginning or if genarate after also belongs to you.

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