Author Topic: [Litecoin Dust Settler] - Solution to high p2pool transaction fees and zero fees  (Read 5253 times)

Offline thegreatgooo

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Hi All


UPDATED: 05/26/2013: Updated the below guide to show how to send the lump sum coins to the same account as the fractional coins account. Basically sending lots of small coins to yourself into a bigger coin for 0 transaction fees. Bigger coins are easier to transfer with drastically less fee. This method is easier, just noticed it after a couple of people stared using the application like this.

Just wanted to lets you guys know about a program I created to takes and consolidate all those small p2pool payments into lump sums and do it without any fees if your blocks are old enough.

There is a 1.5% Developer donation amount for using this application, much smaller than the 5-20% fees for transferring coins from a p2pool account.

Requirements:
1) Windows System (physical or VMware) with .NET 4 or higher
2) Linux System (physical or VMware)

Step by Step:

1) On your Linux system build litecoind
              Fastest way : https://forum.litecoin.net/index.php/topic,43.0.html

2) Download the zip Litecoin Dust Settler
              https://github.com/TheGreatGooo/Litecoin-Dust-Settler/archive/master.zip the exe is in the  bin / Release folder
              http://www.mediafire.com/download/kh3utrt67japtab/LitecoinDustSettler.zip
Source:
              https://github.com/TheGreatGooo/Litecoin-Dust-Settler

3) Copy your existing wallet.dat (the wallet with the litecoins you want to merge) file to the Linux systems ~/.litecoin directory

4) Edit ~/.litecoin/litecoin.conf file on the so that it looks like below:

server=1
rpcallowip=*
rpcuser=user
rpcpassword=password
rpcport=10333

5) start litecoind on the Linux system:

litecoind -disablesafemode -debug -daemon

6) Wait for the Linux system to sync up 100%

7) Start Litecoin Dust Settler.exe

8 ) Fill in the send to account field your litecoin address

9 ) Fill in the Wallet Password field with the password of the litecoin wallet in the Linux system

10) Fill in the address field like so:
http://[ip address of Linux system]:10333/

you can find your ip on Linux by typing ifconfig in terminal

for example if my Linux system has a ip address of 192.168.13.143 this field would be

http://192.168.13.143:10333/

11) Fill in the RPC User field with "user" and RPC Password filed with "password"

12) Hit Test RPC, it should return a popup box with the version number and other info. If you get a error message make sure you check you installation and firewall settings

-------Once everything is setup you wont have to repeat steps 1-12-------------

13) Next hit "Get List" This will retrieve and sort automatically all your coins based on most probably for free transaction.

14) Now you should have a table of data in the bottom part of the screen use the shift key and the white box to the left of every row to select multiple rows that you want to combine, best to start out with the top 20 or so.

15) Next hit check selected. This will give you transaction estimates based on the selected rows, the only thing that matters here is the Free? label. The Free? Label tells you weather the transaction you select can be considered as free. If the label reads True then keep increasing the number of rows, until you get to a point where Free? results in False. Then select one less row so that it reads True. Basically you want to select as many rows as possible such that it results in True. Please note,  I did not add a check to make sure a free transaction is possible so you can try to send any combination of coins for free. The lower the priority the longer the transaction will take to commit. If the Free label is True then the transaction will process within the next 1-2 blocks.

16) Next hit Create Transaction

17) Then hit Unlock Wallet after this step you must complete the next steps within 60 seconds or start over from Create Transaction

18) Hit Sign Transaction

19) Verify the Amount label and the dev donation current set at 1.5%, to support to this project.

20) Hit Send Transaction

21) Finally lock Wallet

Screen Cap:



Selecting multiple rows into a single transaction:



Sample Transactions:
http://ltc.block-explorer.com/tx/e90dc8bcdef14f7a3847cf045a00d1e59b8c96cbde1bc90dcd6efdae34ae1355
http://ltc.block-explorer.com/tx/b3b2c96e99950fcfd678ef791069531922459edf043a3b7894ffa55568fb5e47

Low priority transaction example: Took 10-15 blocks for the transaction to commit.
http://ltc.block-explorer.com/tx/63baca32c4d08084b90e99a3ed78cab52aa37979a1673088965c15524062f03c


BTW
This is nothing new, lots of people have been doing it, I've just made it a little bit less technical.

Let me know if any one has any issues.

THIS SOFTWARE IS PROVIDED "AS IS" AND ANY EXPRESSED OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE ARE DISCLAIMED. IN NO EVENT SHALL THE REGENTS OR CONTRIBUTORS BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, BUT NOT LIMITED TO, PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES; LOSS OF USE, DATA, OR PROFITS; OR BUSINESS INTERRUPTION)
 HOWEVER CAUSED AND ON ANY THEORY OF LIABILITY, WHETHER IN CONTRACT, STRICT LIABILITY, OR TORT (INCLUDING NEGLIGENCE OR OTHERWISE) ARISING IN ANY WAY OUT OF THE USE OF THIS SOFTWARE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGE.

Thanks,
TheGreatGooo
« Last Edit: May 26, 2013, 06:19:41 AM by thegreatgooo »
Litecoin Dust Settler - merge your p2pool earnings into lump sum with 0 transaction fess
https://forum.litecoin.net/index.php/board,2.0.html
Donations:
LTC: LZZqhZHeWhBJ3yiHHAgFNzEaikaid3u7P4

Offline weex

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WARNING: The post above contains a link to binary-only software. In general, you should exercise extreme caution with such software to ensure it does not include features that may lead to theft or loss of your funds.

For example, you may want to test this software with only a very very small amount of currency in your wallet and watch it carefully to be sure payouts are what they should be and no suspicious transactions are being generated.

If you do experience a monetary loss, be sure to let a mod on this forum know so appropriate action can be taken.

-weex

Offline Chuck Finley

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In addition to what weex said the screenshot shows a "dev donation" which looks like it might be hard-coded.

So this doesn't really look like as much of a "solution" to litecoin fees as a way to redirect them to thegreatgooo's account. I'm not sure what the percentage is but wouldn't it be "funny" if the "donation" ended up costing more than the fees you're trying to avoid :lol:

LTC: LchuckfK3g2tHrdAv8CDTUSJpZjbBSk66m

Offline thegreatgooo

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Hi,

If you have any questions about the me stealing wallets just run any good packet tracker and see if its send any information to the outside world. It only connects to the rpc connection that is specified. The Dev fee is harcoded at 1.5% of whatever the amount you are trying to send. You can also use this to force a free transaction into the litecoin blockchain even If your coins are not old enough, but it may take some time (10-15 blocks) before the first confirmation.

see Example attached:
http://ltc.block-explorer.com/tx/63baca32c4d08084b90e99a3ed78cab52aa37979a1673088965c15524062f03c

I fully intend to release the source code, I am setting up a new github account, it was too late for me last night.

Thanks,
TheGreatGooo
Litecoin Dust Settler - merge your p2pool earnings into lump sum with 0 transaction fess
https://forum.litecoin.net/index.php/board,2.0.html
Donations:
LTC: LZZqhZHeWhBJ3yiHHAgFNzEaikaid3u7P4

Offline Chuck Finley

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The Dev fee is harcoded

So then unlike what the program says, it's not actually a donation ;)

Anyways not really trying to give you a hard time - it's always great to see someone contributing to the community!
LTC: LchuckfK3g2tHrdAv8CDTUSJpZjbBSk66m

Offline thegreatgooo

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Yeah its a "dev donation fee"  ;) . I did not add a check to make sure a free transaction is possible so you can try to send any combination of coins for free. The lower the priority the longer the transaction will take to commit. If the Free label is True then the transaction will process within the next 1-2 blocks.
Litecoin Dust Settler - merge your p2pool earnings into lump sum with 0 transaction fess
https://forum.litecoin.net/index.php/board,2.0.html
Donations:
LTC: LZZqhZHeWhBJ3yiHHAgFNzEaikaid3u7P4

Offline thegreatgooo

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WARNING: The post above contains a link to binary-only software. In general, you should exercise extreme caution with such software to ensure it does not include features that may lead to theft or loss of your funds.

For example, you may want to test this software with only a very very small amount of currency in your wallet and watch it carefully to be sure payouts are what they should be and no suspicious transactions are being generated.

If you do experience a monetary loss, be sure to let a mod on this forum know so appropriate action can be taken.

-weex

I committed code to GitHUB and the link is available. Again this is not some magic, its a complex process if you do it by hand but its just simpler to do it via this application.
Litecoin Dust Settler - merge your p2pool earnings into lump sum with 0 transaction fess
https://forum.litecoin.net/index.php/board,2.0.html
Donations:
LTC: LZZqhZHeWhBJ3yiHHAgFNzEaikaid3u7P4

Offline thegreatgooo

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  • Posts: 19
Updated the below guide to show how to send the lump sum coins to the same account as the fractional coins account. Basically sending lots of small coins to yourself into a bigger coin for 0 transaction fees. Bigger coins are easier to transfer with drastically less fee. This method is easier, just noticed it after a couple of people stared using the application like this.
Litecoin Dust Settler - merge your p2pool earnings into lump sum with 0 transaction fess
https://forum.litecoin.net/index.php/board,2.0.html
Donations:
LTC: LZZqhZHeWhBJ3yiHHAgFNzEaikaid3u7P4

Offline bearbin

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Is there any way to compile this to work on linux?

Offline thegreatgooo

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Is there any way to compile this to work on linux?

Try Wine http://appdb.winehq.org/ . Let me know about the results. .NET 4.0 is currently silver status which is pretty good.
Litecoin Dust Settler - merge your p2pool earnings into lump sum with 0 transaction fess
https://forum.litecoin.net/index.php/board,2.0.html
Donations:
LTC: LZZqhZHeWhBJ3yiHHAgFNzEaikaid3u7P4

Offline petrkr

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Is there any way to compile this to work on linux?

Try Wine http://appdb.winehq.org/ . Let me know about the results. .NET 4.0 is currently silver status which is pretty good.

Wine is actually not able run .NET applications, use MONO instead

Code: [Select]
petrkr@localhost ~/svn/Litecoin-Dust-Settler/Litecoin-Dust-Settler/bin/Debug $ wine LitecoinDustSettle.exe
wine: Install the Windows version of Mono to run .NET executables


But under mono it looks to works fine, just that grid is littlebit differend using than at Windows, but still works.




Regards Petr

Admin Edit: Made your image smaller, so that it fits the post.
~Someguy123
« Last Edit: May 28, 2013, 06:43:08 PM by Someguy123 »

Offline thegreatgooo

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Is there any way to compile this to work on linux?

Try Wine http://appdb.winehq.org/ . Let me know about the results. .NET 4.0 is currently silver status which is pretty good.

Wine is actually not able run .NET applications, use MONO instead

Code: [Select]
petrkr@localhost ~/svn/Litecoin-Dust-Settler/Litecoin-Dust-Settler/bin/Debug $ wine LitecoinDustSettle.exe
wine: Install the Windows version of Mono to run .NET executables


But under mono it looks to works fine, just that grid is littlebit differend using than at Windows, but still works.




Regards Petr

Great, I will add this to the guide!
« Last Edit: May 28, 2013, 06:43:28 PM by Someguy123 »
Litecoin Dust Settler - merge your p2pool earnings into lump sum with 0 transaction fess
https://forum.litecoin.net/index.php/board,2.0.html
Donations:
LTC: LZZqhZHeWhBJ3yiHHAgFNzEaikaid3u7P4

Offline petrkr

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I'll just add mine version
Code: [Select]
petrkr@localhost ~ $ mono --version
Mono JIT compiler version 2.10.9 (tarball Wed Mar 13 11:55:52 CET 2013)
Copyright (C) 2002-2011 Novell, Inc, Xamarin, Inc and Contributors. www.mono-project.com
        TLS:           __thread
        SIGSEGV:       altstack
        Notifications: epoll
        Architecture:  x86
        Disabled:      none
        Misc:          debugger softdebug
        LLVM:          supported, not enabled.
        GC:            Included Boehm (with typed GC and Parallel Mark)
petrkr@localhost ~ $


Regards

Offline bearbin

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I tried mono and it worked! I had tried it before, but it didn't work. Installing mono-complete package worked for me!

EDIT: I can test rpc, but not do anything else. Anyone have a solution?
« Last Edit: May 30, 2013, 07:03:10 AM by bearbin »

Offline bustaballs

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I can test rpc but I get an error when I try anything else. I'm running windows 7.