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⚡️🚨 Sending Bitcoin Still Feels Nerve-Wracking? You’re Not Alone.

That moment of doubt—“Will it actually arrive?”—is real. But here’s the good news: Bitcoin addresses have built-in safeguards. When I learnt this, it greatly reduced the stress of sending Bitcoin.

A Bitcoin address isn’t just a random string of characters—it’s structured to prevent errors. Each address contains three key parts that tell the network where to send your BTC (Image below):

1️⃣ Version Number – Identifies the type of address (Legacy, SegWit, Taproot) and ensures compatibility.

2️⃣ Public Key Hash – A shortened, more secure version of your public key. This acts as the unique identifier that determines the recipient of the funds.

3️⃣ Checksum – A built-in error detector. The last 4-6 characters verify the version number and public key hash to ensure the address is valid.

Why This Matters: If you accidentally miss or mistype a character, the checksum catches it—and your wallet shouldn't send the transaction. This built-in safety net prevents you from sending your Bitcoin into the ether.

That said.... here are a few pro tips for error-free transactions:

✅ Always copy & paste addresses (never type manually).

✅ Use QR codes whenever possible to avoid manual entry mistakes.

✅ Double-check the first & last 5-6 characters before hitting send.

Did this help? #asknostr

Big Barry Bitcoin 11mo ago

bc1q is the version AFAIK.

bc1q is segwit

bc1p is taproot.

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Discussion

Big Barry Bitcoin 11mo ago

Now did you know that seed words (BIP39) are the worst standard for mnemonic backups?

Before it, Electrum Wallet had created their own, which they still use today.. They were first.

Within it, there is a version number.

Also LND uses a different spec aezeed to include a birthday.

TLDR; you might wonder why your seed words won't restore, it's because there are other seed word specs and the population chose the worst one to die on.

Version number means we can improve on the protocol if we find a better hashing algorithm for example or if we choose to swap out a confusing word or if we wish to encode something else into the mnemonic.

Birthday allows us to know when the key was created. This helps software to scan for your transactions... Why scan anything before the creation date? It speeds up operations.