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42 sats \ 9 replies \ @aljaz 28 Nov \ on: Question About UTXOs Consolidation bitcoin_beginners
its always tempting to consolidate but depending on their privacy level you might want to have several utxos instead of one - you dont necessarily want to share all of your activities with everyone, or even leak the amount of bitcoin you have by joining all of them
I have several wallets, this one I only use for nostr and SN.
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This is in line with my doubts. I can send the entire balance (utxo 1..21) to address 1. There's no need to create a new address. Or am I missing something?
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lets invert this - why are you insisting on reusing an address when you can generate a new one for free?
there is absolutely 0 upside to doing it your way, there is some upside to doing it the "right" way. at least you get a clean new utxo and potential change of ownership since its a new address.
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yeah I also don't get why he insist in sending back to address 1. It doesn't make sense.
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I have an explanation for this, I don't know if it still makes sense to think about it but in the past I've read several times that some wallets don't work well with derivation paths. And it can lead the user to think that they have lost their funds.
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first of all if you have the seed then who gives a shit, you can always access it with a working wallet.
secondly i'm not sure how generating a new address would cause issues for the wallets (given that you are not generating 10k addresses) and what do derivation paths have to do with that, you're not changing a derivation path by generating a new address, and even if you'd be creating a new "account" and generating an address there then you'll get the funds there.
so in any case i think this entire thread should be addressing your real question - can something go wrong with sending all utxos to a new address in android for electrum, not trying to reason why the plan you had in your head is the right one
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I seem to be confusing derivation paths with generating new addresses. What I've read in the past has to do with what you're saying about generating lots of addresses. Thanks for your patience and explanations.
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Sending to a new address adds (some, not much) plausible deniability it wasn't just sent to a new owner. Sending to a previously used address ensures that it's visible the original owner is the recipient.
If you're consolidating I would just generate a new address anyway, rather than reuse an old one. There is no downside to generating a new address, the fees will be calculated by the number of inputs, the output is still one either way.
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