I’m curious if anyone has actually transferred XCH to a friend or colleague (or fellow farmer). Could you write up a quick step by step on how to do it? I want to send some XCH to someone who helped me out… but I find the GUI a bit confusing and could use some help.
Ask your fellow farmer their “receive address”.
GUI - in the Wallets tab
chia keys showas the “First wallet address”
Paste it in the “Address / Puzzle hash” input field (1)
Enter the amount you want to send in XCH (minimum is 1 mojo, aka
0.000000000001XCH) in (2)
Enter the fee for the transaction in XCH (minimum is 0) in (3).
Since the mempool is pretty much always empty, 0 fee should work with no problem at all.
So the “Receive Address” box at the bottom is not actually involved in creating a transaction? It is simply a place to look for your own receive address if giving it to someone else? A clearer name might have been “My Receive Address”.
What is mempool?
Also does this mean there is no fixed transaction fee and the user decides the fee?
That’s my understanding yes. It’s tied to your private key but you can safely share it. You can also generate one per transaction if you want to. (cf. the ? in the GUI).
I’m not sure how that works or even how to have a look at it, but it’s basically where all the valid transactions wait to be confirmed. Since the network is new, it’s pretty much always empty. But on older networks, if you want your transaction to go through faster, you have to pay a higher fee than the other in the mempool.
From what I understand yes. The fee is just to ensure your transaction gets confirmed as soon as possible.
Quick note on this - I’ve successfully transferred XCH via the GUI. The only thing to note is that your chiaexplorer page may (probably?) show the wrong net amount now.
It has something to do with how change is sent to a different address (they added a note to their site to call this out). ‘wallet show’ still shows the correct amount though.
This is a terrible idea. Haven’t we learned anything from Ethereum?
Wait how is this any different than Ethereums gas model? It ultimately boils down to how much one is willing to pay to be included in the finite number of entries in a block. It’s only an issue when the list of request is longer than a block can hold, hence the ability to move up the list by paying a fee.
I’m actually writing a new post to go over how to create a cold wallet. It covers the transaction part and account recovery. Should be out tonight.
We don’t have infinite resources. You physically can’t guarantee the network will be able to handle any load no matter how big.
Would you rather have a financial system where transaction fees are constant but many transactions randomly fail or take forever, or a financial system where paying more ensures your transaction clears reliably and swiftly?
Especially since even in this model you can still choose to pay pennies if you’re more comfortable waiting longer than paying more.
How does Algorand do it? How does Visa do it? How does PayPal do it?
Imagine telling the average user to guess transaction fee when making a payment. Do you think this is a good user experience?
Oh come on, apples to oranges. Problems like this remain the admission price for a blockchain that can be mined by anyone with the resources instead of proof-of-stake or centralized payment systems.
Nah, the Chia wallet’s UX is clearly lacking at this point. But so are the applications. No one’s using XCH for buying and selling goods yet, no one’s developed third-party smart contracts yet and only the bare minimum of external services - block explorer, mining profit calculators, pools, exchanges, faucet - exists so far. Whether “launch the coin when the ecosystem is done” would have been a better idea than “build the ecosystem as liquidity is established” is up for debate, but eventually this is a solvable problem. Other crypto wallets offer fee suggestions and I’m sure we’ll see that long before anyone tries to market Chia to your grandmother.
OK! A friend and I transferred one mojo:
I went to the Wallet tab and shared my receive address with my friend – yep, the one that has the giant COPY button next to it.
on his Wallet tab, he …
- pasted my receive address in the Address / Puzzle Hash field
0.000000000001in the Amount field
0in for the Fee
- pushed the Send button
And it arrived in my wallet. I am now
0.000000000001 richer. So… that worked?
I need a friend who wants to transfer me XCH so I can build my plotting machine! LOL
How long should a transaction take? I sent my Chia to another wallet I created and it is showing up in the list of outgoing transactions in my sending wallet but has not arrived in my receiving wallet and that was well over 6 hours ago.
The one transaction I made to MXC took a few minutes only.
Copying and pasting your 24 words doesn’t sound very safe. A computer with malware on it could safe your copies.
Printing out your 24 words is another risk. That print file could be saved somewhere by malware.
I don’t have much crypto security experience, but this doesn’t sound safe at all.
Am I missing something?
It’s weird. When I look up the address listed in the transaction it’s not showing up in Chia explorer. It says it was confirmed in a block though in the GUI and it’s definitely not showing up in the wallet associated with the address.
Your local wallet might not be synced, I think we’re in the “growing pains“ stage of exponential growth and sync is currently struggling.
@69chargr When you look it up on Chia Explorer you’ll want to to use the wallet ID and not the transaction ID. I don’t think Chia Explorer is quite prime time on the transaction lookups.
I’ve bought and sold XCH on an exchange, so sent and received whole XCH with no fees attached. I’ve also sent and received whole XCH between wallets and all is good! Because transaction volume is very low (compared to Bitcoin) it has taken a maximum of a few minutes to confirm transactions. Even with the 20 confirmations exchange requirement, it’s like a 15 minute wait