Why am I paying so much in fees after consolidating my Bitcoin?

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0xHashMember
Posts: 162 · Reputation: 210
#1Dec 12, 2017, 05:32 PM
I've been using apps like GREEN and MUUN, and suddenly my fees are hitting $2-$3+. What's the deal with this "privacy" thing that keeps changing my addresses? I only want one address for all my funds.
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dan2017Member
Posts: 17 · Reputation: 218
#2Dec 14, 2017, 04:06 PM
Changing addresses doesn’t impact your fees directly. What's important is the number of UTXOs you have to use for a transaction. Try using Electrum; it has a feature for coin control.
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CalmMinerFull Member
Posts: 195 · Reputation: 784
#3Dec 14, 2017, 09:10 PM
Electrum is solid. Most wallets these days are HD wallets, so they’ll constantly generate new addresses. You can set it to prefer a single address but will still get change addresses.
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cobra51Newbie
Posts: 52 · Reputation: 31
#4Dec 15, 2017, 03:03 AM
Your fees will go up if you have a lot of UTXOs involved in a transaction. Combining multiple UTXOs means more inputs, and that raises the fees. It's all about how you manage your funds.
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#5Dec 15, 2017, 08:40 AM
If you want to keep your transactions simple, you can manually select inputs in Electrum. It doesn’t fix the fee issue but gives you better control over your outputs.
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0xLynxMember
Posts: 39 · Reputation: 205
#6Dec 15, 2017, 09:20 AM
Bitcoin relies on UTXOs, right? So if you send varying amounts to one address, the system doesn’t just sum it up. To send a large amount later, you'll need to combine several smaller UTXOs. That’s how it works.
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0xHashMember
Posts: 162 · Reputation: 210
#7Dec 15, 2017, 10:58 AM
I get that but sticking everything in one address is risky. You’re basically asking for your identity to be revealed over time. Every time you spend, you're exposing that public key.
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orbit1337Senior Member
Posts: 161 · Reputation: 941
#8Dec 17, 2017, 05:42 AM
Thanks for the tips, but nobody's really answered my question about going back to the way things used to be. I just want to send and receive without all this extra hassle.
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0xHashMember
Posts: 162 · Reputation: 210
#9Dec 17, 2017, 10:32 AM
Just chill. You can use the same address again. You don't need to ask your wallet’s permission. If you want to prevent change addresses, just check the settings in Electrum.
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0xChadNewbie
Posts: 186 · Reputation: 3
#10Dec 17, 2017, 02:23 PM
Why can't someone just make a simple Bitcoin wallet that sends change back to the original address? Seems like a simple fix.
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Posts: 84 · Reputation: 87
#11Dec 17, 2017, 03:42 PM
Bitcoin has always been about UTXOs. They’ve changed, but the principle remains the same. It’s about how you manage those inputs that affects your fees.
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orbit1337Senior Member
Posts: 161 · Reputation: 941
#12Dec 17, 2017, 04:52 PM
There’s definitely a way to do that in Electrum. You can import a single key to keep things simple, but it's not practical in the long run.
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0xHashMember
Posts: 162 · Reputation: 210
#13Dec 17, 2017, 09:32 PM
I wouldn’t recommend relying on a single wallet. Create a paper wallet if you want maximum privacy, but make sure you know how to secure your private keys.
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0xHashMember
Posts: 162 · Reputation: 210
#14Dec 18, 2017, 02:33 AM
You can start a new Electrum wallet and select to create just one private key. That way you have only one address, but understand the limitations.
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chrisomegaFull Member
Posts: 69 · Reputation: 631
#15Dec 18, 2017, 08:02 AM
Not sure I agree with that. There's got to be a better way. Before apps started doing this, I could just keep it simple!
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0xChadNewbie
Posts: 186 · Reputation: 3
#16Dec 18, 2017, 09:23 AM
Regarding your change address woes, nothing’s really changed. Just be mindful of how many inputs you are trying to use. It’s not about the address but the overall transaction size.
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orbit1337Senior Member
Posts: 161 · Reputation: 941
#17Dec 18, 2017, 10:16 AM
Thanks, guys, but really, can't you just have it set so that any spare change goes right back to where it came from? That seems straightforward.
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0x4lphaFull Member
Posts: 199 · Reputation: 509
#18Dec 18, 2017, 02:50 PM
You can turn off change addresses in Electrum. Go into settings and disable that feature, but it won’t affect the fees you pay.
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dave2011Newbie
Posts: 10 · Reputation: 37
#19Dec 18, 2017, 07:31 PM
You’d think they’d keep it simple like the old days... I just want clarity on what's happening to my funds, not extra fees.
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dave2011Newbie
Posts: 10 · Reputation: 37
#20Dec 18, 2017, 07:54 PM
It’s not a feature; it’s how the system works. Having more UTXOs means more inputs, not necessarily worse for fees, but also not better.
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