Mycelium bitcoin cash

Luckily for us, some wallet applications do allow custom fees. The one we'll be using right now is Electrum. Open the menu in the top right corner of the app and select "Export". Select "Yes" to continue. The popup will show you the master public key for the account. But you need the master private key to be able to spend the inputs later.

To view the master private key, tap the slider at the top of the screen to change it from public to private. You should see a warning message and instructions for how to view the master private key. At the time of this article, you need to press and hold on the screen until the private key is revealed. If you entered it correctly, you should be able to continue by pressing the "Next" button. After a few minutes you should see the full transaction history for your Mycelium account.

Yes, you can now tip strippers with Bitcoin. The transaction fees are raging due to several factors. One is the size of the block in Bitcoin's blockchain, which is limiting the number of transactions that can go through at any given time. Bitcoin's network is powered by miners, people and companies who use a tremendous amount of computing power to create new bitcoins. And when there's too many transactions to process—which currently happens very often—miners will prioritize transactions that pay a higher fee.

The situation improved with the recent SegWit upgrade of the Bitcoin software, but it will take a while—weeks or months—before users start seeing benefits of SegWit.

Another reason is Bitcoin Cash, a competing cryptocurrency that split off from Bitcoin on August 1. Since the two cryptocurrencies are similar, it's simple for miners to switch from mining Bitcoin to Bitcoin Cash. And for reasons explained here , sometimes it's more profitable to mine Bitcoin Cash than Bitcoin. Whenever miners start switching to Bitcoin Cash, Bitcoin's network becomes slower, and transaction fees rise; we've seen this swing happen a couple of times before and it's likely to keep happening for a while.

This is not good for Bitcoin. A few bucks or even a few dozen bucks per transaction isn't a deal breaker for investors, but for someone who wants to use Bitcoin as payment—which is kind of the point of Bitcoin in the first place—that's far too expensive. The good news is that the fees are likely to get better.

The bad news is that it won't happen very soon. SegWit has paved the way for a further upgrade called the Lightning Network , which should vastly reduce fees, but the software, or even its specifications, aren't ready yet. Although the examples in the previous section resulted in complete loss of funds, the same mechanisms also allow for partial loss.

These conditions were assumed, which may or may not hold at the time a change address problem arises:. For example, a single address that receives multiple payments will contain multiple unspent outputs.

Likewise, wallet balances can become distributed across multiple change addresses as the user spends funds. As expected, her wallet balance decreases to 9 BTC. After installing a new hard drive and restoring her wallet backup, Alice notices something odd.

Before the hard drive crash, her wallet balance was 9 BTC. But the balance only read 8 BTC after recovering the backup. Why does 1 BTC seem to be missing? Alice was using a random address pool wallet, in which Address 2 was not contained in her original backup. In a sense, Alice was lucky because she could have lost her entire wallet balance.

On the other hand, without understanding change addresses, Alice would likely be very confused about what happened to the missing 1 BTC. The same mistake could happen again. When used correctly, change addresses help prevent the identities and spending histories of Bitcoin users from being made public. But with this capability comes the potential for loss and theft. To avoid potentially costly mistakes, familiarize yourself with change addresses and how your wallet software implements them.

The Debit Card from Hell Imagine paying for groceries with a debit card. Bitcoin is Electronic Cash The similarities between Bitcoin and cash run deep. A Bitcoin address can be thought of as the digital equivalent of a cash envelope. Alice may not re-spend the 10 BTC.

Alice pays Bob 5 BTC. Change Address with Multiple Outputs. Alice pays Bob 8 BTC. Change Address is Sender. Change is returned to the sending address. The intended payee is unambiguous. Change Address is not Sender. Change is returned to a newly-created change address. The intended payee is ambiguous. Wallets and Change Addresses Although change addresses play a key role in improving privacy, wallet developers can implement this feature in a number of ways.

Single-Address Wallets use a single address to receive both payments and change. Additional addresses may added when a receiving address is manually added, or a private key is imported. Random Address Pool Wallets use a fixed-size pool of randomly-generated addresses. Change is sent to the next available empty address, causing the creation of a new empty address to take its place. The best-known example is Bitcoin-Qt. Deterministic Address Pool Wallets contain a practically infinite pool of deterministically-generated addresses.

A subset of this pool contains addresses reserved for receiving change. Examples include Electrum and Armory. Hybrid Wallets use multiple strategies, depending on context.

MultiBit, Mycelium , and Electrum are examples. Preventing and Recovering from Change Address Disasters Incorrect use of Bitcoin change addresses account for many cases of loss or theft of funds.

Backup Failure Alice uses Bitcoin-Qt. Count the number of manually-created addresses and spending transactions since your last backup. If this number is greater than about 80, back up again. Weekly backups might be enough for most users.

Set a very high value e. Switch to a deterministic wallet. If using a deterministic wallet, create a watching-only wallet to monitor addresses. If using Bitcoin-Qt, manually update your list of watch addresses after every payment, or switch to a deterministic wallet. Spending from a Paper Wallet Carlos is a saver. Before deleting any hot wallet with an imported paper wallet private key, send the remaining balance back to a paper wallet.

Use a software wallet that will return change back to the paper wallet. One example is Mycelium.