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Can a wallet allow you to receive Bitcoins from the same wallet you send them from, and if so, why would there be some reason why this shouldn't be done.

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3 Answers 3

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Some wallets do allow you to receive coins to the same addr they are sent from. But generally this is not a good idea; your transactions could be more easily traced this way.

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  • Why would that make tracing easier ? Commented Feb 10 at 15:17
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You can send coins to any valid Bitcoin address, including one of your own. The only reason why this shouldn't be done is that one is paying the transaction fees to transfer money to their own addresses. On the other hand, it is not a bad idea if one of your addresses in a wallet is compromised, but then again that is a good reason to create a completely new wallet and transfer all the money there.

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  • Wouldn't this be a good way to consolidate UTXO's? Commented Jan 5 at 2:59
  • Yes, spending a bunch/many/all of your UTXOs to another address in your own wallet is exactly what a consolidation transaction does.—If you have a new question, please start a new topic.
    – Murch
    Commented Jan 5 at 13:17
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This is a fundamental way that wallets operate. Your wallet is list of bitcoin addresses. A typical transaction sends all of your money out of one of these addresses and back to a new one in your wallet, as well as to your recipient.

If you mean can an address receive coins it was sent, the answer is a resounding yes - that is exactly how satoshidice works, which at one point was the biggest mover of all bitcoin.

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  • Note that while the original Bitcoin client would always spend all funds in every transaction, meanwhile wallets have gotten a lot more selective in funding transactions. See e.g. bitcoin.stackexchange.com/q/1077/5406
    – Murch
    Commented Jan 5 at 13:19

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