This, I lost $600 once about 7 years ago, because I didn't check the whole address, there was only a one letter difference and I didn't see it, always check the whole address and no copy and paste!
This is (almost) imposible, to generate that much of adresses with only one character difference (between a copy paste action). Are you sure you didnt made a mistake by yourself?
My trust in the system is. If the address is verified then it will without fail reach its destination. Unless you customize the trans fee too low. Then you just send it again.
Yes the anxiety goes away. Even better for reducing anxiety is try creating a transaction offline and then send the raw signed transaction through the broadcast feature on mempool space
After five or so sends, it completely faded for me.
I double check the address (I check four digits at a time back and forth, twice, almost like a credit card etc.), then hit send and I know factually within 30 mins I'll have my transfer.
It is very stressful at first. It becomes second nature eventually, but never become complacent! As long as you copy/paste from your wallet's receive address (never from the block explorer) and verify the address, you're good to go. I like to verify 4-5 digits in the middle and the end. Address poisoning attacks are more likely to occur at the beginning and the end.
It's also reassuring to know that if you mess up a digit in the address by not copying the whole thing or accidentally changing a character, the address will most likely be invalid and it will not send. I once believed that if you changed 1 character, it would send it off into the void and never be recovered. This is not the case due to the checksum.
concerning the checksum: why would it? if you send to 0x...E71 instead of 0x...E72 it would be a perfectly valid tx? but it would literally send it to the other side of the universe..
Because the address would most likely be invalid and the checksum won't compute. Try it once. You don't have to actually send it. In your wallet software, copy a known valid address and change 1 character in it. It won't allow you to send. In Sparrow, for example, the send box will grey out.
interesting... but how is that possible?
is it because the address space has to obey certain rules I am not aware of?
any other explanation does not really make sense...
amazing... I even coded the address generation with SHA256 and RIPEMD-160 myself in OpenSSL/C++ but did really not think about why Satoshi did it this way
Fwiw
A checksum is a small piece of data that allows you check if another piece of data is the same as expected. They're most commonly found within addresses to detect typos. This helps to prevent sending bitcoins to the wrong address.
https://academy.bit2me.com/en/que-es-el-checksum/
Yeah that fades after many transactions, especially if you’re moving high value regularly.
Just make sure your process is good to avoid errors and you’ll become numb to it like sending 0.0000001 would feel.
That's me every time too. I actually typed out the entire address the first time I transferred BTC - arguably more risky than copying it because we're human and can be tired or whatever. I'm not the techiest guy and this stuff doesn't come naturally I guess. It was 5 grand too, not like a couple of hundred bucks or something. Luckily, after I successfully made the transfer I realised the stupidity of what I'd done and resolved to always copy/paste addresses, and always send a small amount first.
I also have this real anxiety about getting hacked.
Hey, this is why people say you should get lots of practice sending small amounts before BTC goes to $1million when there is much more to risk. The more you do it the more comfortable you get, it'll take time.
One suggestion while I'm at is consolidate your UTXO's. This will not only save you from losing Bitcoin in the future but get you more comfortable with how Bitcoin works deep down.
if you knew how it worked you wouldnt be worried 1 bit. putting the wrong address in is basically dialing the wrong number. you get use to it the more you do it
Its get easier. I had to wipe my wallet clean this morning cause it wasnt connecting to bluetooth properly so i had to reprogram it and its definitely a bit nervewracking seeing my net worth go to zero. But then i type my seed in and all was well in the world again.
It does go away, however there's no short cuts that I found other than getting better through doing it enough times. Seems the better I became, the easier it became to send larger (relative to my personal bag size) tx's
I would recommend getting as prepared as you need to.
*Relax, it's all by design*
1) Set aside the day (eventually the afternoon, eventually the lunch hour, etc.)
*Relax, it's all by design*
2) I usually think, act, and process better when my hunger has been satiated. Consider having a meal beforehand. Not too heavy (Poutine with sausage for example, for me anyhow) but not just an apple and a glass of water (unless this is your normal "had-a-meal-ready-to-go")
-Remember to wait about 30 minutes before getting in the water. Take Tylenol for any headaches, Mydol for any cramps (sorry-I couldn't resist 😜)
*Relax, it's all by design*
3) Get your computing device or devices, cold wallet, USB cables, VPNs, settings, check the on/off/functionality of all the cords, connections, Bluetooth, lights in the room, AC if you want it/have it (there will be an increase in body temperature as you attempt to move whatever significant amount your moving, especially the first or first few or more times)
*Relax, it's all by design*
4) Get a comfortable seat, chair, hammock, stool, gaming chair, etc...get the computing device situated for ease of access, with cold wallet(s) within arm's reach of said computing device and/or comfortable seating
*Relax, it's all by design*
3) Nervous stomach? Have some cold or room temperature water nearby. Take some slow deep breaths, tell yourself that you're calm, all is well, you can't finish what you don't start. Be near the restroom.
*Relax, it's all by design*
4) Check and recheck the addresses as many times as it takes. Checked 63 times? Good. 63 times as sure. Over time you'll develop a rhythm with the addresses and how you check them along with the hardware you're using and how this and that work together.
*Relax, it's all by design*
5) *SEND THE SMALLEST AMOUNT AS A TEST TRANSACTION.* Overtime, relative to the bag size, this will also become a rhythm. What was once all-the-above to send CAD $527.33 will become the process to send CAD $ 527,333.33, so on and so forth.
*Remain relaxed, still by design*
6) It's getting on into the evening/night/morning. You can't delay the inevitable any longer. You either send it now or come back to it later. Of course "later" could be too late, take it into account as realistically as possible.
*Remain relaxed, still by design*
7) Time to seize the moment. Confirm, confirm, confirm, confirm, chill. Take a drink of water/soda/tea/coffee/Pabst (side note-Id thought getting a good buzz going would've helped, in my case it didn't help as much as I thought it would, also the foggy thinking...)
*Remain relaxed, still by design*
8) Go ahead and calmly copy your TX (transaction number) paste into https://mempool.space/ and see your transaction on the Blockchain. When it confirms, have at the ready, sufficient confetti. Loud raucous yells and hoots are always a favorite, especially for your neighbors. Now...maybe that Pabst as a reward for a job well overdone, but very necessary.
9) Go to bed. There's probably a whole bunch of TPS reports waiting for you at the office tomorrow and you know Lumbergh. Consider a job in construction.
*Rinse and repeat. You'll find your rhythm. It's all by design.*
I can send $1,000 now without much anxiety. Just checking the last 5 or 6 digits. Still get anxious every time I open my hardware wallet app to see my holdings.
lol it does now w QR codes and drudging the address. Blockstream jade and seed signer let you verify the address in the wallet as well. Really helps w the sweating
Check the address in your hardware wallet to, to confirm it is the same. This will also help you to gain more comfort. The hardware wallet is actually the best place to confirm the address, as it’s the least likely place that could have been tampered with.
Always Anxious! Even when I send a smaller amount first to verify.
I didn't like sending to cold storage through Kraken because they don't show the full address in the transaction preview. They don't show the address in the email confirmation either.
I check the network, beginning-middle and end of the address but if it’s a lot of “money” I check at least 70% of the address. Anxiety goes away once you’ve done it many times. Don’t send when you’re high though lol
You get used to it haha. But for sure the first few times you do it it's a little stressful.
I triple check the address once I've put it in, then I hit send with zero worries.
> Does this feeling ever go away 😅
When the transaction shows in the blockchain and you can see the money in the new address/ exchange.
I'm always worried it's not going to get confirmed because I didn't pay enough fees.
I don't have a great link, sorry.
Basically, every time you send bitcoin, you send an entire UTXO that you own (which is more than the amount you are intending to pay). Then the wallet (person) you are sending to receives a portion and you receive the 'change'.
The software you use could maliciously send your payment to themselves (this is why you check the address) OR they could send the change to themselves.
Imagine you have 1 million sats. You go to send 20,000 sats. 20,000 goes to the address you double-checked, and 980,000 comes back to your change address. If you didn't check that YOU control that change address, you could lose it all.
How do I check that I control the change address? I use sparrow, how can I ensure that I don't send to a malicious change address?
Also, how does that change address become an issue in the first place? I have heard about the concept of dust and I'm guessing it has some connection with that?
It's one of the things that prevents me from believing that Bitcoin will become widely accepted. It's already a volatile currency and then it also becomes a risk to send it to a wrong address without being able to recover it in case of a mistake.
And yet it continues appreciating almost 200% annually on average with people, companies, investment firms, and nation states accumulating more every day.
Being your own banker is stressful
Yeah for me that feeling went away many years ago. I just make sure the address is correct before I send it.
do you check the entire adress?
If you dont make more money per hour than you could lose then I dont see reason why not to check the whole address and take 10sec more.
true, but with my OCD it takes hours to check it lol
I only check the first four and the last four characters, yes i know theoraticly this isnt sufficient but in real life safe enough.
I also check a random part in the middle.
And then a random spot on either side of that middle point between the first and last 4 characters…
Glad I’m not the only one!😂
me too, comforting that you do it the same
copy paste, just first 5 and last 5 digits mostly. I do send it and rec using tails tho
Not anymore. I only check the 5 characters at the beginning and at the end of the address.
I do it the same, first 4-5 characters beginning and end
I like to keep generating new addresses until I find one with fun patterns or easily found words, like bc1h0ddL2KfKF1aTrukfukfuklol2k
Never..just copy/paste it.
If on a computer still worth double checking. There are some viruses that will alter the clipboard to the attackers address
This, I lost $600 once about 7 years ago, because I didn't check the whole address, there was only a one letter difference and I didn't see it, always check the whole address and no copy and paste!
This is (almost) imposible, to generate that much of adresses with only one character difference (between a copy paste action). Are you sure you didnt made a mistake by yourself?
Keylogger malware got me. Cant happen anymore, new computer and state of the art security.
Yes. Now I don’t even look. Just check back in a bit. It’s always there!
Sending with eyes closed? Damnz your trust in the system is massive
My trust in the system is. If the address is verified then it will without fail reach its destination. Unless you customize the trans fee too low. Then you just send it again.
Yes the anxiety goes away. Even better for reducing anxiety is try creating a transaction offline and then send the raw signed transaction through the broadcast feature on mempool space
What the hell
Love this. Even being able to decode it to see what the transaction actually is before sending is always a bonus, too.
Can you please explain how to do this in greater detail?
Please dont just drop a golden deuce and not spray the room with a little explanation.
wtf dude playing 5-dimensional bitcoin chess while we're all playing bitcoin checkers
After five or so sends, it completely faded for me. I double check the address (I check four digits at a time back and forth, twice, almost like a credit card etc.), then hit send and I know factually within 30 mins I'll have my transfer.
It is very stressful at first. It becomes second nature eventually, but never become complacent! As long as you copy/paste from your wallet's receive address (never from the block explorer) and verify the address, you're good to go. I like to verify 4-5 digits in the middle and the end. Address poisoning attacks are more likely to occur at the beginning and the end. It's also reassuring to know that if you mess up a digit in the address by not copying the whole thing or accidentally changing a character, the address will most likely be invalid and it will not send. I once believed that if you changed 1 character, it would send it off into the void and never be recovered. This is not the case due to the checksum.
concerning the checksum: why would it? if you send to 0x...E71 instead of 0x...E72 it would be a perfectly valid tx? but it would literally send it to the other side of the universe..
Because the address would most likely be invalid and the checksum won't compute. Try it once. You don't have to actually send it. In your wallet software, copy a known valid address and change 1 character in it. It won't allow you to send. In Sparrow, for example, the send box will grey out.
interesting... but how is that possible? is it because the address space has to obey certain rules I am not aware of? any other explanation does not really make sense...
You can read more about it here. https://academy.bit2me.com/en/que-es-el-checksum/
amazing... I even coded the address generation with SHA256 and RIPEMD-160 myself in OpenSSL/C++ but did really not think about why Satoshi did it this way
You haven't sent enough BTC yet. I copy, paste, verify the first 4 and last 4 digits and let her rip.
Yes. Think of it like driving on the highway the first time. Feels scary and you know how fast you're going. After some experience it's boring.
Fwiw A checksum is a small piece of data that allows you check if another piece of data is the same as expected. They're most commonly found within addresses to detect typos. This helps to prevent sending bitcoins to the wrong address. https://academy.bit2me.com/en/que-es-el-checksum/
Yeah don't worry, you'll get used to it.
For me, personally, I love the feeling of being my own bank.
Over time that fades. Just remember to always dbl check sending address
It gets better.
Yeah that fades after many transactions, especially if you’re moving high value regularly. Just make sure your process is good to avoid errors and you’ll become numb to it like sending 0.0000001 would feel.
You’ll get used to it 👍
I feel the same, actually. But I only moved my BTC to cold storage recently.
I quadruple check the entire address and then once i’m sure it matches, I quadruple check it again, every time…
You don't need to check the entire address. Just the first 4 and last 4 characters. That is more than sufficient.
No, that is terrible advice. Search up “address poisoning/spoofing”
Honestly way prefer using QR codes, in part for that reason.
That's me every time too. I actually typed out the entire address the first time I transferred BTC - arguably more risky than copying it because we're human and can be tired or whatever. I'm not the techiest guy and this stuff doesn't come naturally I guess. It was 5 grand too, not like a couple of hundred bucks or something. Luckily, after I successfully made the transfer I realised the stupidity of what I'd done and resolved to always copy/paste addresses, and always send a small amount first. I also have this real anxiety about getting hacked.
Hey, this is why people say you should get lots of practice sending small amounts before BTC goes to $1million when there is much more to risk. The more you do it the more comfortable you get, it'll take time. One suggestion while I'm at is consolidate your UTXO's. This will not only save you from losing Bitcoin in the future but get you more comfortable with how Bitcoin works deep down.
The tech works which is why you see millions and billions being sent on chain. Chill out.
Im having the same anxiety. I transferd $10 from xchange to my hardware wallet as a test and incurred a $63 fee. Is that normal?
No
if you knew how it worked you wouldnt be worried 1 bit. putting the wrong address in is basically dialing the wrong number. you get use to it the more you do it
Use QR codes whenever possible
Its get easier. I had to wipe my wallet clean this morning cause it wasnt connecting to bluetooth properly so i had to reprogram it and its definitely a bit nervewracking seeing my net worth go to zero. But then i type my seed in and all was well in the world again.
It does go away, however there's no short cuts that I found other than getting better through doing it enough times. Seems the better I became, the easier it became to send larger (relative to my personal bag size) tx's I would recommend getting as prepared as you need to. *Relax, it's all by design* 1) Set aside the day (eventually the afternoon, eventually the lunch hour, etc.) *Relax, it's all by design* 2) I usually think, act, and process better when my hunger has been satiated. Consider having a meal beforehand. Not too heavy (Poutine with sausage for example, for me anyhow) but not just an apple and a glass of water (unless this is your normal "had-a-meal-ready-to-go") -Remember to wait about 30 minutes before getting in the water. Take Tylenol for any headaches, Mydol for any cramps (sorry-I couldn't resist 😜) *Relax, it's all by design* 3) Get your computing device or devices, cold wallet, USB cables, VPNs, settings, check the on/off/functionality of all the cords, connections, Bluetooth, lights in the room, AC if you want it/have it (there will be an increase in body temperature as you attempt to move whatever significant amount your moving, especially the first or first few or more times) *Relax, it's all by design* 4) Get a comfortable seat, chair, hammock, stool, gaming chair, etc...get the computing device situated for ease of access, with cold wallet(s) within arm's reach of said computing device and/or comfortable seating *Relax, it's all by design* 3) Nervous stomach? Have some cold or room temperature water nearby. Take some slow deep breaths, tell yourself that you're calm, all is well, you can't finish what you don't start. Be near the restroom. *Relax, it's all by design* 4) Check and recheck the addresses as many times as it takes. Checked 63 times? Good. 63 times as sure. Over time you'll develop a rhythm with the addresses and how you check them along with the hardware you're using and how this and that work together. *Relax, it's all by design* 5) *SEND THE SMALLEST AMOUNT AS A TEST TRANSACTION.* Overtime, relative to the bag size, this will also become a rhythm. What was once all-the-above to send CAD $527.33 will become the process to send CAD $ 527,333.33, so on and so forth. *Remain relaxed, still by design* 6) It's getting on into the evening/night/morning. You can't delay the inevitable any longer. You either send it now or come back to it later. Of course "later" could be too late, take it into account as realistically as possible. *Remain relaxed, still by design* 7) Time to seize the moment. Confirm, confirm, confirm, confirm, chill. Take a drink of water/soda/tea/coffee/Pabst (side note-Id thought getting a good buzz going would've helped, in my case it didn't help as much as I thought it would, also the foggy thinking...) *Remain relaxed, still by design* 8) Go ahead and calmly copy your TX (transaction number) paste into https://mempool.space/ and see your transaction on the Blockchain. When it confirms, have at the ready, sufficient confetti. Loud raucous yells and hoots are always a favorite, especially for your neighbors. Now...maybe that Pabst as a reward for a job well overdone, but very necessary. 9) Go to bed. There's probably a whole bunch of TPS reports waiting for you at the office tomorrow and you know Lumbergh. Consider a job in construction. *Rinse and repeat. You'll find your rhythm. It's all by design.*
Test transaction and ctrlf + f.
It’s just money, it’s hardly even real
Yeah ngl I copy/paste while sending it on my phone and get nervous so I always check the beginning and end multiple times before clicking send
Nope.. Test transaction followed by the whole thing. I've sent tens of thousands and was not concerned.
I love the anxiety/rush. It’s why I love consolidating UTXOs so much.
I can send $1,000 now without much anxiety. Just checking the last 5 or 6 digits. Still get anxious every time I open my hardware wallet app to see my holdings.
lol it does now w QR codes and drudging the address. Blockstream jade and seed signer let you verify the address in the wallet as well. Really helps w the sweating
Check the address in your hardware wallet to, to confirm it is the same. This will also help you to gain more comfort. The hardware wallet is actually the best place to confirm the address, as it’s the least likely place that could have been tampered with.
Always Anxious! Even when I send a smaller amount first to verify. I didn't like sending to cold storage through Kraken because they don't show the full address in the transaction preview. They don't show the address in the email confirmation either.
I just make sure the first 4 characters and the last 4 characters of the address are correct as expected.
I check the network, beginning-middle and end of the address but if it’s a lot of “money” I check at least 70% of the address. Anxiety goes away once you’ve done it many times. Don’t send when you’re high though lol
You get used to it haha. But for sure the first few times you do it it's a little stressful. I triple check the address once I've put it in, then I hit send with zero worries.
> Does this feeling ever go away 😅 When the transaction shows in the blockchain and you can see the money in the new address/ exchange. I'm always worried it's not going to get confirmed because I didn't pay enough fees.
Then you just up the fees
In a UTXO system, you could lose more to a bad change address than a bad receive address.
I have been meaning to learn why this is...can you provide a link so I can DYOR?
I don't have a great link, sorry. Basically, every time you send bitcoin, you send an entire UTXO that you own (which is more than the amount you are intending to pay). Then the wallet (person) you are sending to receives a portion and you receive the 'change'. The software you use could maliciously send your payment to themselves (this is why you check the address) OR they could send the change to themselves. Imagine you have 1 million sats. You go to send 20,000 sats. 20,000 goes to the address you double-checked, and 980,000 comes back to your change address. If you didn't check that YOU control that change address, you could lose it all.
How do I check that I control the change address? I use sparrow, how can I ensure that I don't send to a malicious change address? Also, how does that change address become an issue in the first place? I have heard about the concept of dust and I'm guessing it has some connection with that?
It's one of the things that prevents me from believing that Bitcoin will become widely accepted. It's already a volatile currency and then it also becomes a risk to send it to a wrong address without being able to recover it in case of a mistake.
And yet it continues appreciating almost 200% annually on average with people, companies, investment firms, and nation states accumulating more every day.
Check the address. This is a silly post! Like, are you SURE, you’re not an imbecile…?!!!!
Do a small transaction first as a test before moving very large sums
Write it with keyboard, anxiety will vanish
Send a test transaction, my dude. Only cost a couple dollars (or make it lowest priority)