Creating a RawTX Transaction with Broadcast-Bitcoin-Transaction

23.04.2024

The repository you mentioned, https://github.com/smartiden/Broadcast-Bitcoin-Transaction, appears to be a Python script designed to broadcast signed Bitcoin transactions. While it doesn’t directly generate raw transactions, we can use it in conjunction with other tools to achieve your goal.

Here’s how we can proceed:

1. Dependencies:

  • Python 3.x: Ensure you have Python installed and set up on your system.
  • Required Libraries: Install the necessary libraries using pip:
pip install bitcoin pycoin

2. Gather Transaction Details:

  • Sending Address (Input): 1ELCrM2FMXePtsGLRbcqAdhj61EUGmUtK9
  • Receiving Address (Output): You’ll need to provide the destination Bitcoin address where you want to send the coins.
  • Amount: Specify the amount of Bitcoin you want to transfer (in BTC or Satoshis).
  • Miner Fee: Determine the appropriate miner fee to ensure timely transaction confirmation.

3. Generate Raw Transaction:

We’ll use the pycoin library to create the raw transaction. Here’s an example code snippet:

from pycoin import Key, Tx

# Replace with your actual details
sending_address = "1ELCrM2FMXePtsGLRbcqAdhj61EUGmUtK9"
receiving_address = "DESTINATION_ADDRESS"
amount_to_send = 0.001  # Replace with desired amount in BTC
miner_fee = 0.0001  # Replace with appropriate fee

# Get private key for the sending address (replace with your actual private key)
private_key = Key.from_text("YOUR_PRIVATE_KEY_HERE")

# Create transaction outputs
outputs = [
    TxOut(int(amount_to_send * 100_000_000), receiving_address),  # Convert BTC to Satoshis
]

# Create the transaction
tx = Tx.from_tx_outs_and_key(outputs, private_key)

# Sign the transaction
tx.sign(private_key)

# Print the raw transaction (hex-encoded)
print(tx.as_hex())

4. Broadcast the Transaction:

  1. Save Raw Transaction: Save the output from the previous step as a file (e.g., raw_transaction.txt).
  2. Use Broadcast Script: Utilize the Broadcast-Bitcoin-Transaction script to broadcast the raw transaction:
python broadcast_bitcoin_transaction.py raw_transaction.txt

Important Notes:

  • Private Key Security: Never share your private keys publicly. Handle them with extreme care.
  • Transaction Fees: Adjust the miner fee based on current network conditions to ensure timely confirmation.
  • Unspent Transaction Outputs (UTXOs): This example assumes you have a single UTXO covering the sending amount and fee. For more complex scenarios, you might need to handle multiple UTXOs.

Additional Considerations:

  • Error Handling: Implement proper error handling in your code to catch potential issues.
  • Transaction Monitoring: Consider using a block explorer to track the status of your broadcasted transaction.

By following these steps and adapting the code to your specific requirements, you can effectively create and broadcast raw Bitcoin transactions using the provided repository and Python libraries.

Creating a RawTX Transaction with Broadcast-Bitcoin-Transaction

The repository you mentioned, https://github.com/smartiden/Broadcast-Bitcoin-Transaction, appears to be a Python script designed to broadcast signed Bitcoin transactions. While it doesn’t directly generate raw transactions, we can use it in conjunction with other tools to achieve your goal.

Here’s how we can proceed:

1. Dependencies:

  • Python 3.x: Ensure you have Python installed and set up on your system.
  • Required Libraries: Install the necessary libraries using pip:
pip install bitcoin pycoin

2. Gather Transaction Details:

  • Sending Address (Input): 1ELCrM2FMXePtsGLRbcqAdhj61EUGmUtK9
  • Receiving Address (Output): You’ll need to provide the destination Bitcoin address where you want to send the coins.
  • Amount: Specify the amount of Bitcoin you want to transfer (in BTC or Satoshis).
  • Miner Fee: Determine the appropriate miner fee to ensure timely transaction confirmation.

3. Generate Raw Transaction:

We’ll use the pycoin library to create the raw transaction. Here’s an example code snippet:

from pycoin import Key, Tx

# Replace with your actual details
sending_address = "1ELCrM2FMXePtsGLRbcqAdhj61EUGmUtK9"
receiving_address = "DESTINATION_ADDRESS"
amount_to_send = 0.001  # Replace with desired amount in BTC
miner_fee = 0.0001  # Replace with appropriate fee

# Get private key for the sending address (replace with your actual private key)
private_key = Key.from_text("YOUR_PRIVATE_KEY_HERE")

# Create transaction outputs
outputs = [
    TxOut(int(amount_to_send * 100_000_000), receiving_address),  # Convert BTC to Satoshis
]

# Create the transaction
tx = Tx.from_tx_outs_and_key(outputs, private_key)

# Sign the transaction
tx.sign(private_key)

# Print the raw transaction (hex-encoded)
print(tx.as_hex())

4. Broadcast the Transaction:

  1. Save Raw Transaction: Save the output from the previous step as a file (e.g., raw_transaction.txt).
  2. Use Broadcast Script: Utilize the Broadcast-Bitcoin-Transaction script to broadcast the raw transaction:
python broadcast_bitcoin_transaction.py raw_transaction.txt

Important Notes:

  • Private Key Security: Never share your private keys publicly. Handle them with extreme care.
  • Transaction Fees: Adjust the miner fee based on current network conditions to ensure timely confirmation.
  • Unspent Transaction Outputs (UTXOs): This example assumes you have a single UTXO covering the sending amount and fee. For more complex scenarios, you might need to handle multiple UTXOs.

Additional Considerations:

  • Error Handling: Implement proper error handling in your code to catch potential issues.
  • Transaction Monitoring: Consider using a block explorer to track the status of your broadcasted transaction.

By following these steps and adapting the code to your specific requirements, you can effectively create and broadcast raw Bitcoin transactions using the provided repository and Python libraries.