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Would this work to minimize counterwallet fees?

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irnhnve

If you were to sweep the private keys from multiple counterwallet addresses into the bitcoin-qt client, export the private key from the bitcoin-qt client and sweep it into a counterwallet address, would all of the assets that were associated with the original counterwallet addresses appear under one address after sweeping the bitcoin-qt private key?

I ask because, as far as I remember, I don't recall having bitcoin-qt prompt you to pay a fee for importing private keys. Counterwallet makes you pay a fee that increases for each asset being swept which can be quite high if you have many assets.

For me, it would cost over $1 in fees for each address even after excluding things like voting tokens. I'm trying to combine the balances for more than 10 separate addresses into one. I'd really prefer not to pay that much in fees if I can find a workaround.

2 likes
  • Cryptonaut

    Unfortunately there isn't any way to send multiple amounts of multiple counterparty tokens to another address in one transaction, just because it's simply too much data to hold in a BTC transaction.

    If your able to use the command line interface instead, you could setup a local copy of bitcoind (which you already have if you are running bitcoin-qt), import your private keys into there. Then you can set up a local counterparty node on top of bitcoind and use the command line options to customize the fees.

    Example command:

    python3 counterpartyd.py --multisig-dust-size 0.00001 --regular-dust-size 0.00001 --fee 0.00001 send --source [source_address] --destination [destination_address] --asset [token name] --quantity [amount]

    you can make the fees pretty much as low as you want, as long as you don't mind waiting extra long for them to confirm.

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    6 likes
  • irnhnve

    @cryptonaut Unfortunately there isn't any way to send multiple amounts of multiple counterparty tokens to another address in one transaction, just because it's simply too much data to hold in a BTC transaction.

    If your able to use the command line interface instead, you could setup a local copy of bitcoind (which you already have if you are running bitcoin-qt), import your private keys into there. Then you can set up a local counterparty node on top of bitcoind and use the command line options to customize the fees.

    Example command:

    python3 counterpartyd.py --multisig-dust-size 0.00001 --regular-dust-size 0.00001 --fee 0.00001 send --source [source_address] --destination [destination_address] --asset [token name] --quantity [amount]

    you can make the fees pretty much as low as you want, as long as you don't mind waiting extra long for them to confirm.

    I'll definitely give this a shot, thanks!

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    0 likes
  • bujank

    fee coiunterwallet is big. i am move to poloniex fee minimal

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    0 likes
  • pooktwo

    @cryptonaut Unfortunately there isn't any way to send multiple amounts of multiple counterparty tokens to another address in one transaction, just because it's simply too much data to hold in a BTC transaction.

    If your able to use the command line interface instead, you could setup a local copy of bitcoind (which you already have if you are running bitcoin-qt), import your private keys into there. Then you can set up a local counterparty node on top of bitcoind and use the command line options to customize the fees.

    Example command:

    python3 counterpartyd.py --multisig-dust-size 0.00001 --regular-dust-size 0.00001 --fee 0.00001 send --source [source_address] --destination [destination_address] --asset [token name] --quantity [amount]

    you can make the fees pretty much as low as you want, as long as you don't mind waiting extra long for them to confirm.

    Is this something that could be implemented with the asset distributor as an option to make the fees lower? Like lets say there could be an option that allows you in the distributor to set your own fee you wish to pay?

    • Robert Ross
    • Director of FoldingCoin Inc
    • Community Director for the Counterparty Foundation
    • Skype: foldingcoin
    • Twitter: @pooktwoFLDC
    • FLDC Twitter: @foldingcoin
    • Email: rross@foldingcoin.net
    • Alt Email: foldingcoin.net@gmail.com
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    0 likes
  • adam

    @pooktwo

    @cryptonaut Unfortunately there isn't any way to send multiple amounts of multiple counterparty tokens to another address in one transaction, just because it's simply too much data to hold in a BTC transaction.

    If your able to use the command line interface instead, you could setup a local copy of bitcoind (which you already have if you are running bitcoin-qt), import your private keys into there. Then you can set up a local counterparty node on top of bitcoind and use the command line options to customize the fees.

    Example command:

    python3 counterpartyd.py --multisig-dust-size 0.00001 --regular-dust-size 0.00001 --fee 0.00001 send --source [source_address] --destination [destination_address] --asset [token name] --quantity [amount]

    you can make the fees pretty much as low as you want, as long as you don't mind waiting extra long for them to confirm.

    Is this something that could be implemented with the asset distributor as an option to make the fees lower? Like lets say there could be an option that allows you in the distributor to set your own fee you wish to pay?

    Fees are set platform-wide at the moment since they are fee instructions to the distributor, and the cost in the distributor is already about as low as we found it to be still reliable. In the future we will have multiple pricing models, per-tx fee for normal users and no or very low per tx fee for users with appropriate rolecoins

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    1 like
  • pooktwo

    @adam

    @pooktwo

    @cryptonaut Unfortunately there isn't any way to send multiple amounts of multiple counterparty tokens to another address in one transaction, just because it's simply too much data to hold in a BTC transaction.

    If your able to use the command line interface instead, you could setup a local copy of bitcoind (which you already have if you are running bitcoin-qt), import your private keys into there. Then you can set up a local counterparty node on top of bitcoind and use the command line options to customize the fees.

    Example command:

    python3 counterpartyd.py --multisig-dust-size 0.00001 --regular-dust-size 0.00001 --fee 0.00001 send --source [source_address] --destination [destination_address] --asset [token name] --quantity [amount]

    you can make the fees pretty much as low as you want, as long as you don't mind waiting extra long for them to confirm.

    Is this something that could be implemented with the asset distributor as an option to make the fees lower? Like lets say there could be an option that allows you in the distributor to set your own fee you wish to pay?

    Fees are set platform-wide at the moment since they are fee instructions to the distributor, and the cost in the distributor is already about as low as we found it to be still reliable. In the future we will have multiple pricing models, per-tx fee for normal users and no or very low per tx fee for users with appropriate rolecoins

    Makes sense. Thanks :)

    • Robert Ross
    • Director of FoldingCoin Inc
    • Community Director for the Counterparty Foundation
    • Skype: foldingcoin
    • Twitter: @pooktwoFLDC
    • FLDC Twitter: @foldingcoin
    • Email: rross@foldingcoin.net
    • Alt Email: foldingcoin.net@gmail.com
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    0 likes
  • adam

    You can't reduce fees in counterwallet at this time

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