Sent 0.3 from Bitcoin-Qt. Transaction shows it deducted 0.47!!!

[yeponlyone]

Do you think it will be fine? What should be next steps then?

As said before, you don't need to download the blockchain again.

1. Install bitcoin-core
2. Transfer your recovered wallet.dat to the bitcoin-core folder
3. Launch bitcoin core, Open the debug console
4. run walletpassphrase <passphrase> <timeout>    (you can skip this one of you have not encrypted your wallet file, timeout could be e.g. "300", which is in second)
5. run dumpprivkey 1DXKUMfM9UPqnHFZbvi5R9g7uBRchm8Gio
6. Save the returned private key, and your have recovered your 0.17837798 BTC

Good luck

Thank you so much for the steps and all your help guys!

I have recovered the wallet.dat, private key, imported it to Electrum and transferred it back to my original account.

Now, I need to read about this 'Change' address. When did that happen? Since Bitcoin-core 0.10 version or from the beginning? I need to understand this thing, and I best understand from videos. Any related video to this topic?

Cheers!

Good to see that you have recovered it. Bitcoin core automatically pre-generated 100 addresses and some of those are used as change address. Therefore, per 100 transaction, you should backup the wallet.dat to prevent losing any BTC when recovering the wallet later on.

[grewalsatinder]

Do you think it will be fine? What should be next steps then?

As said before, you don't need to download the blockchain again.

1. Install bitcoin-core
2. Transfer your recovered wallet.dat to the bitcoin-core folder
3. Launch bitcoin core, Open the debug console
4. run walletpassphrase <passphrase> <timeout>    (you can skip this one of you have not encrypted your wallet file, timeout could be e.g. "300", which is in second)
5. run dumpprivkey 1DXKUMfM9UPqnHFZbvi5R9g7uBRchm8Gio
6. Save the returned private key, and your have recovered your 0.17837798 BTC

Good luck

Thank you so much for the steps and all your help guys!

I have recovered the wallet.dat, private key, imported it to Electrum and transferred it back to my original account.

Now, I need to read about this 'Change' address. When did that happen? Since Bitcoin-core 0.10 version or from the beginning? I need to understand this thing, and I best understand from videos. Any related video to this topic?

Cheers!

Good to see that you have recovered it. Bitcoin core automatically pre-generated 100 addresses and some of those are used as change address. Therefore, per 100 transaction, you should backup the wallet.dat to prevent losing any BTC when recovering the wallet later on.

Wow! 100 change addresses!!
I only took backup of my blockchian.info address as private key. Secured my wallet.dat file now too.

Cheers!

[countryfree]

I have uninstalled Bitcoin-Qt and the database!!!...

That was your only mistake. As a rule of thumb, when you make a mistake or see something you don't understand, don't ever uninstall everything. You'll risk losing all chances to understand what happened. And in that case, you may have lost money, too!

[viboracecata]

From here we may say bitcoin has some barriers for common person to use, destroy old transactions input and generate new one surely have some obviously advantages, should the developing team hide all these details and convert it to the style of the common bank transations then common person can easily understand

[yeponlyone]

Do you think it will be fine? What should be next steps then?

As said before, you don't need to download the blockchain again.

1. Install bitcoin-core
2. Transfer your recovered wallet.dat to the bitcoin-core folder
3. Launch bitcoin core, Open the debug console
4. run walletpassphrase <passphrase> <timeout>    (you can skip this one of you have not encrypted your wallet file, timeout could be e.g. "300", which is in second)
5. run dumpprivkey 1DXKUMfM9UPqnHFZbvi5R9g7uBRchm8Gio
6. Save the returned private key, and your have recovered your 0.17837798 BTC

Good luck

Thank you so much for the steps and all your help guys!

I have recovered the wallet.dat, private key, imported it to Electrum and transferred it back to my original account.

Now, I need to read about this 'Change' address. When did that happen? Since Bitcoin-core 0.10 version or from the beginning? I need to understand this thing, and I best understand from videos. Any related video to this topic?

Cheers!

Good to see that you have recovered it. Bitcoin core automatically pre-generated 100 addresses and some of those are used as change address. Therefore, per 100 transaction, you should backup the wallet.dat to prevent losing any BTC when recovering the wallet later on.

Wow! 100 change addresses!!
I only took backup of my blockchian.info address as private key. Secured my wallet.dat file now too.

Cheers!

For every one transaction, one of the change address will be used to ensure anonymity. blockchain.info doesn't specially use change address AFAIK.

[shorena]

From here we may say bitcoin has some barriers for common person to use, destroy old transactions input and generate new one surely have some obviously advantages, should the developing team hide all these details and convert it to the style of the common bank transations then common person can easily understand

Id say this incident is an argument that bitcoin core already hides the technical details very well. The OP did only see on a blockexplorer that some coins have been send "elsewhere" and the wallet just displayed the correct balance as you would expect from a bank account. How much further can you hide change than in bitcoin core? With the default settings you will never see the "change" label anywhere as far as I am aware.

[TookDk]

Id say this incident is an argument that bitcoin core already hides the technical details very well. The OP did only see on a blockexplorer that some coins have been send "elsewhere" and the wallet just displayed the correct balance as you would expect from a bank account. How much further can you hide change than in bitcoin core? With the default settings you will never see the "change" label anywhere as far as I am aware.

Yes, this is correct. All the confusion with "change" is always when people look at the blockchain and don't understand it.
The bitcoin-core does not show anything about "change" as shorena point out, you need to enable "advance coin control" to see the change address.
The average user should not look at the blockchain at all, it should just look at the balance in the wallet..

[grewalsatinder]

There's something else I noticed using Blockchain.info, Electrum, or any other wallets agains Bitcoin-Qt.

When I sent payment using Bitcoin-Qt It only used few bits like 100s but when I send payments using any other wallet, that always uses 10,000 bits or so. I get it from Bitcoin-Qt wallet options that to speed the transaction, like more the fee quicker the transaction is processed.

But, was just wondering if it's still possible with electrum I could have the option to use lower fee than 10,000.

The reason is in case if anybody (eg. parents) who aren't much techie, and just to give them a quick start give them more than better option, with lower fee (bit slow is Okay).

[ebliever]

There's something else I noticed using Blockchain.info, Electrum, or any other wallets agains Bitcoin-Qt.

When I sent payment using Bitcoin-Qt It only used few bits like 100s but when I send payments using any other wallet, that always uses 10,000 bits or so. I get it from Bitcoin-Qt wallet options that to speed the transaction, like more the fee quicker the transaction is processed.

But, was just wondering if it's still possible with electrum I could have the option to use lower fee than 10,000.

The reason is in case if anybody (eg. parents) who aren't much techie, and just to give them a quick start give them more than better option, with lower fee (bit slow is Okay).

If I understand you correctly, yes, in Electrum you can set whatever fee you want. Just go to the Tools-->Preferences menu and you'll see Transaction Fee and can edit it.

[yeponlyone]

There's something else I noticed using Blockchain.info, Electrum, or any other wallets agains Bitcoin-Qt.

When I sent payment using Bitcoin-Qt It only used few bits like 100s but when I send payments using any other wallet, that always uses 10,000 bits or so. I get it from Bitcoin-Qt wallet options that to speed the transaction, like more the fee quicker the transaction is processed.

But, was just wondering if it's still possible with electrum I could have the option to use lower fee than 10,000.

The reason is in case if anybody (eg. parents) who aren't much techie, and just to give them a quick start give them more than better option, with lower fee (bit slow is Okay).

The minimum relay fee is 1000 satoshi. You can select custom fees in blockchain.info. However, the lower fee you go, the longer time it may take to confirm. You need a high priority, more than 57,600,000 for it to be confirmed within 2-3blocks.

[shorena]

-snip-
The minimum relay fee is 1000 satoshi. You can select custom fees in blockchain.info. However, the lower fee you go, the longer time it may take to confirm. You need a high priority, more than 57,600,000 for it to be confirmed within 2-3blocks.

Just a little addition:

This greatly depends on the number of transactions out there and how high your priority is in comparisson to them. Each block has 50Kbyte for transactions without fee. The transactions get sorted by priority. Thus if there is a high amount of transactions with a higher priority than yours it will take a while to get confirmed. 2-3 blocks matches roughly with my experience of high priority transactions without fee, but I typcially do them over night anyway.