Silk Road forums

Discussion => Newbie discussion => Topic started by: fordingtheharrison on March 08, 2013, 04:05 am

Title: Changing addresses with money in my account
Post by: fordingtheharrison on March 08, 2013, 04:05 am
This is a quick question. If I have BTC in my account and I change my receiving address, will I lose my money or will it transfer over?
Title: Re: Changing addresses with money in my account
Post by: onetwothree on March 08, 2013, 04:47 am
This is a quick question. If I have BTC in my account and I change my receiving address, will I lose my money or will it transfer over?

Your account balance isn't actually tied to an address. SR just credits your account once an address of yours has a deposit made to it. It is the same as depositing a 20 dollar bill at the bank. The bank doesn't actually keep that exact literal 20 dollar bill in a box somewhere for you. They just know you gave them 20 dollars and they credit your account to reflect that.

So, no, you won't lose your money, but it won't technically 'transfer over' anywhere. On the contrary, it is recommended to use any SR deposit address only once. After (or before) every deposit, you should get a new address.
Title: Re: Changing addresses with money in my account
Post by: fordingtheharrison on March 08, 2013, 11:26 pm
Okay, good! Thank you very much for the answer.