Post
Topic
Board Beginners & Help
Re: Misconceptions about Bitcoin and Altcoins
by
hd49728
on 22/10/2019, 07:39:08 UTC
Regarding to consolidation, I have my topic on that method, too.
Bitcoin transaction fees - Everything in one
It is always better to choose the right period to move Bitcoin at low fees and shorter waiting time; but if someone don't mind about waiting time, they can set up transactions at 1 Satoshi/ byte and just wait for hours or days.
In Electrum wallet, users can choose a option (Use Replace-By-Fee) to increase fees later, just in case their initial setup-fees are too low and rejected by miners. Anyway, I don't think we can not move Bitcoin at 1 satoshis/byte; only people in hurry have to use high fees.

And also I found that every bitcoin wallet has some coin control, where you can manage the funds of particular address in your wallet, but unfortunately most of bitcoin wallets don't have this, like when you have multiple addresses in particular bitcoin wallet, you can use one of the addresses in your wallet and spend the amount inside of that address only w/out touching other address' funds.
This is why choosing good wallets to use is important. I would prefer to use wallets that can allow me to activate coin control features, and allows me to both receive from and send my bitcoin to Segwit address. There are some wallets that can only receive transactions from Segwit bitcoin address but are unable to send to same type of Segwit address. For all of the reasons, Electrum is my most favorite wallet, that is light and convenient.