Ethereum: bitcoin-cli getbalance different from listunspent
Here’s an article that explains why Bitcoind Getbalance is different from Bitcoind ListunSpentWhen using imported Multisig Bitcoin Watches-Only Addresses:
Understanding Bitcoin Watch-Only Addresses andGetbalancev ListunSpent
When working with Bitcoin in a regtest environment, you're likely familiar with theBitcoin-ClimandsGetBalance, ListunSpent, and others that provide various information about your wallet balance, transactions, and inspent outputs. However, there might be times when you need to differentiate between these two seemingly similar commands: GetBalance andListunSpent.
In this article, we’ll explore the differences between Getbalance andListunSpent, especially in the context of using imported Multisig Bitcoin Watches-Only Addresses.
Multisig Watches-Only Addresses
When you create a multisig wallet with watches-only addresses, each address is a separate entity that can only receive funds, but not spend them. This means that if an attacker tries to spend any funds from a multisig watch-only address, the transaction will be rejected by the network.
In Regtest Mode, we’ll focus on these watches-only addresses as they’re used for testing and developing purposes.
Getbalance: Understanding its purpose
The Getbalance command is used to retrieve information about an account’s balance. When you run Bitcoin-Cli getbalance
For Multisig Watches-Only Addresses, using Getbalance 'might like a straightforward way to check the balances. However, this command does not provide any information about the transactions associated with these addresses.
listunSpent: Understanding its purpose
TheListunSpent ‘command is used to retrieve a list of all unspent outputs in an address’s transaction history. When you run bitcoin-cli lissunSpent
For multisig watches-only addresses, using listunSpent Can reveal information about the transactions associated with these addresses. This is because each Multisig Watch-Only Address Typically Has Multiple Unspent Outputs Associated With It.
Key Differences
The primary difference between Getbalance andListunSpent Lies in their purpose:
Getbalance: Retrieves Account Balance Information, without providing transaction details.
ListunSpent: provides a detailed list of all unspent outputs associated with an address, including Sender, Receiver, Amount, and other transaction details.
When using imported Multisig Bitcoin Watches-Only Addresses, You should use ListunSpent Instead ofGetBalance. This is because the Latter Command does not provide any useful information about transactions, where the former command reveals valuable insights into the accounts associated with these addresses.
Example: Running ListunSpent On a Multisig Watch-Only Address
Suppose you have created a multisig wallet with two watches-only addresses: Address1-WS andAddress2-WS. You want to check the balances of both addresses and see which one has more unspent outputs.
`Bash
Bitcoin-CLI LISTunSpent Address1-WS
`
This command will return a detailed output showing all unsociated outputs with address1-ws.
`Bash
Bitcoin-CLI LISTUNSPENT ADDRESS2-WS
`
This command will show you the balance and transaction details for both addresses.
In summary, when working with multisig bitcoin watches-only addresses in regtest mode, use lystunspentinstead ofGetbalance` to get a detailed view of transactions associated with each address. This ensures that you have accurate information about your wallet’s balances and can make informed decisions.