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Author Topic: use previus address for new payment  (Read 110 times)
network99 (OP)
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January 19, 2021, 10:02:29 AM
Merited by hugeblack (2)
 #1

hello guys
good time

i have a question,

when we click to recieve address, Electrum show new address , status : unPaid
when we recieve BTC by this address, status change to Paid !

my question : can i use that address again and again and again to receive new BTC ?

i want all my BTC, recieved by that address ?

 it is possibale ?

thank you a lot
Best Regards
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January 19, 2021, 10:03:29 AM
Merited by o_e_l_e_o (2)
 #2

yes, reusing your address is possible...

There are 2 (small) downsides:
1) it might hurt your privacy
2) as soon as you spend funds, your public key will be broadcasted...

The first downside has privacy implications, but not everybody cares, and if you only receive/send funds from/to non-KYC services and never publicize this address, privacy consequences might be minimal or nonexistent.

The second downside is very minimal... Normally, a private key gets derived, a pubic key gets generated based on this private key, the public key gets hashed. This hash is your address. If you never re-use your address, or wait to spend funds received by your address untill you no longer use it (and spend all funds at once) your public key will remain unknown untill your funds are spent. If you re-use your address and have unspent outputs funding said address while you have already spend some funds, the public key will be known by the public. Nobody can hack you by knowing your public key (so far), so i wouldn't really worry about it.

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o_e_l_e_o
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January 19, 2021, 12:04:52 PM
 #3

The next question is why do you want to receive all your coins to the same address? There is a good reason that almost all wallets generate a new receiving address for each incoming transaction. As explained above, there are significant privacy risks to reusing addresses, and not only do you make your own privacy pretty much non-existent, but you also reduce the privacy of everyone you transact with. You wouldn't post your bank statement publicly; by reusing a single address, this is effectively what you are doing with your bitcoin holdings.

Have a read of this: https://en.bitcoin.it/wiki/Address_reuse

Sometimes people believe that receiving all their coins to the same address will save them money on fees, but this is not the case, as inputs remain separate regardless of whether they are on the same address.
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January 19, 2021, 04:31:39 PM
 #4

~snip~

Just adding this if you can't find or you forgot your old address you can find the address you recently used under the addresses tab but you can only see the addresses tab once you switch it to show.

Here's the guide



and then this



The first one should be the first address that you got from the receiving tab. So anytime you can check your addresses that you previously used.

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January 19, 2021, 05:10:14 PM
Merited by nc50lc (1)
 #5

Quote
The next question is why do you want to receive all your coins to the same address?
One very good reason is mining - it would be a major PITA to keep changing the address for receiving mining rewards...

- For bitcoin to succeed the community must police itself -    My info useful? Donations welcome! 1FuzzyWc2J8TMqeUQZ8yjE43Rwr7K3cxs9
 -Sole remaining active developer of cgminer, Kano's repo is here
-Support Sidehacks miner development. Donations to:   1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
pooya87
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January 20, 2021, 05:08:03 AM
 #6

Quote
The next question is why do you want to receive all your coins to the same address?
One very good reason is mining - it would be a major PITA to keep changing the address for receiving mining rewards...
It depends on the setup, it is only hard if user is supposed to do it manually like it is 1980!
Everything can be automated, for example instead of using an address to receive mining reward the user can use their child extended public key (ie. like master pubkey at m/x/x/x/) then the system automatically derives pubkey0, pubkey1, ... for each payment.

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NotFuzzyWarm
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January 20, 2021, 01:56:26 PM
 #7

Quote
The next question is why do you want to receive all your coins to the same address?
One very good reason is mining - it would be a major PITA to keep changing the address for receiving mining rewards...
It depends on the setup, it is only hard if user is supposed to do it manually like it is 1980!
Everything can be automated, for example instead of using an address to receive mining reward the user can use their child extended public key (ie. like master pubkey at m/x/x/x/) then the system automatically derives pubkey0, pubkey1, ... for each payment.
And just how would that work on sites like KanoPool where you have to be registered to mine there? Rewards address can only be changed by going into the account settings and editing it. Change the address and you must confirm the change via email. If a mining site takes their users security seriously I would think most operate that way.

- For bitcoin to succeed the community must police itself -    My info useful? Donations welcome! 1FuzzyWc2J8TMqeUQZ8yjE43Rwr7K3cxs9
 -Sole remaining active developer of cgminer, Kano's repo is here
-Support Sidehacks miner development. Donations to:   1BURGERAXHH6Yi6LRybRJK7ybEm5m5HwTr
pooya87
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January 21, 2021, 05:37:09 AM
Merited by NotFuzzyWarm (1)
 #8

~
And just how would that work on sites like KanoPool where you have to be registered to mine there? Rewards address can only be changed by going into the account settings and editing it. Change the address and you must confirm the change via email. If a mining site takes their users security seriously I would think most operate that way.
Then they need to update their system to accept extended public keys instead of an address if people care about not-reusing addresses. That way there is no need to change anything, user sets it once and the system automatically derives the next unused address and pays to that one on the next scheduled payment.

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