BTC payment allocation

[eenzoo]

Hey guys, I have a little problem. My March commission from 7 brands is almost the same amount per operator.
And i have no idea how to check who has paid and who not.
Any good hint on how to manage that? How do you do it? A single wallet for each operator?

[Malikbhai]

......A single wallet for each operator?

Yes.

[Strider1973]

One single wallet with one BTC address per operator would also do it, and make it easier to handle. You can generate new BTC addresses to receive funds for example in Electrum wallet. I think this is the much easier route to go.

[Sherlock]

Not a single wallet, but single address. One wallet can have unlimited addresses. Some operators, if not most, will not pay you to an address that already does have balance >0 or was used in the past.

Normal behavior in crypto world is one transaction = one address unless there is a reason to do it otherwise. There are reasons for that, but maybe just take it as it is.

Yes there is a problem with some stupid wallets like Ledger Nano S that allows you to generate just one new empty address upfront (they call it account), so you must be creative there (again, I will not go to details for simplicity, but I can elaborate further).

[yeahfree]

Yes there is a problem with some stupid wallets like Ledger Nano S that allows you to generate just one new empty address upfront (they call it account), so you must be creative there (again, I will not go to details for simplicity, but I can elaborate further).

actually you can create more addresses upfront with the ledger nano s. you do this by adding new accounts in ledger live app.
note though, last account balance may not be empty before you can add an extra account.
you can have as many accounts as you want, in each of them you can create a unique address.

[Sherlock]

Yes that is the thing that I did not want to talk about to people who do not know a difference between and address and wallet.
Under one account you can also have unlimited addresses and that can be also done by more ways. Classic is that once you empty the address at the account, the wallet generates a new address (so you have 2 empty addresses to use, the new one and the used one). But now after some of updates in recent months I think I noticed that the ledger generates a new address even for an old account that had incoming payment (=it has an UNUSED address with balance) - before the address stayed the same, not it is changing, probably because it was confusing for some users, now it is confusing for me.

The electrum system is much easier to understand and even when HW wallet is maybe better for daily use, the electrum is safer is used well (=not for newbies if there are large balances stored) and it is also much better to understand what is going on with addresses.

Bottom line is that everyone who is using bitcoin should understand what is an address and what is a wallet. It is a fault of other people who wanted make things simpler and started to say address=wallet, but it made everything just more difficult.

[yeahfree]

i think the biggest issue i personally have is that you can not just create more addresses within ledger live within an account. i just created a bunch of accounts now, and got used to it.

electrum is also nice.

i'm using both , for different reasons that go beyond explanation in this thread (boring reasons anyway, nothing exciting to say about it)

[wonderpunter]

different address and use labels, unless you are using a 3rd party wallet that limits your ability to do any of that

[Sherlock]

i think the biggest issue i personally have is that you can not just create more addresses within ledger live within an account. i just created a bunch of accounts now, and got used to it.

electrum is also nice.

i'm using both , for different reasons that go beyond explanation in this thread (boring reasons anyway, nothing exciting to say about it)

As I just wrote now:
you can create more addresses within an account
1. when you send something away from that account
2. speculatively - if you send money to that account and wait fro some time it seems, or there is some another condition, but I have seen a new address in one account without outgoing transaction

[econfox]

For bookkeeping I have two wallets. I generate a new address each month for payments and I add a description when I create the address.

[eenzoo]

Sorry for confusing. Ofc i meant wallet = address. Possibility to add a description to each address would be awesome. Don´t using a hardware wallet because i don't hold any crypto longer as a couple of hours. Unfortunately, Bitpay allows me to add xxx btc wallets and unlimited addresses per wallet but i cant add a description to an address.

[econfox]

Try Blockchain.com - Once you create a wallet.

Go to settings at the bottom and click on Wallet & Addresses. Then go to "manage wallet" and that will allow you to create and label new addresses.

[eenzoo]

How does it work with incoming transactions and a Ledger?
Those transactions are kind of "on hold" until you connect the hardware wallet?

[Strider1973]

I can suggest you again electrum.org desktop wallet. You can add (and also edit) a description to each newly generated BTC address...

[Sherlock]

How does it work with incoming transactions and a Ledger?
Those transactions are kind of "on hold" until you connect the hardware wallet?

Well I hope in some close future you will laugh at your question by yourself. I am not sure where to start, but I will try.

Short answer is that the transactions are never on hold with bitcoin. The wallet is not needed for transaction, at least not your wallet (the wallet of sender is just needed to sign the transaction).

So if they send it to your "ledger address" (I put it into "" because the expression is not accurate, the address is a bitcoin address that was just generated by ledger, but it can be transferred to a different wallet that uses the same seed system), it sits there once it is confirmed and it has nothing to do if you connect or do not connect the ledger to the network.

Each address can be always checked in read-only by anyone in browser for example. Wallet is both for reading and sending that is it. But what are wallets doing is nothing more. They do not hold the bitcoins. The bitcoins are "hold" by anyone who has private keys. The wallets just store the private keys, which is just something like a password. But because people are stupid, they usually do not handle private keys in their raw form (although in some wallets you can see them like in electrum if you wish). Wallets are just more sophisticated storage of private keys with some interface. Wallets are something like keypass, but not much more.

Can you understand it more like that?

[eenzoo]

Yeah, that was pretty understandable, even for me
Thanks. Just ordered a Ledger right now.