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Title: Upgrade from Mutlibit Classic to Multibit HD? Post by: alexlouismorlevat on August 29, 2015, 08:02:51 AM Hello
I'm new with Bitcoin and there is something I don't understand... I used Multibit Classic version for one month. I understand that they created some files in a folder, and that it is our "wallet"? But now I switched to Multibit HD. And there are no such file? I don't understand what happen if I lose my computer, and where are my bitcoins exactly? It seems like I only need the "secret list of words" in order to get my bitcoin back, if I lose my computer for example. But it seems weird to me. If I lose my computer. I can take another computer. install Multibit HD. Enter the list of words. And I'll have my Bitcoins back?? really? Thanks for your explanations... Title: Re: Upgrade from Mutlibit Classic to Multibit HD? Post by: Jeremycoin on August 29, 2015, 10:28:19 AM Hello The "secret list of words" it's called passphrase, and it's actually more secure then keeping a file data on your computer.I'm new with Bitcoin and there is something I don't understand... I used Multibit Classic version for one month. I understand that they created some files in a folder, and that it is our "wallet"? But now I switched to Multibit HD. And there are no such file? I don't understand what happen if I lose my computer, and where are my bitcoins exactly? It seems like I only need the "secret list of words" in order to get my bitcoin back, if I lose my computer for example. But it seems weird to me. If I lose my computer. I can take another computer. install Multibit HD. Enter the list of words. And I'll have my Bitcoins back?? really? Thanks for your explanations... Because the file on your computer is easily to be hacked, but a file on your brain is hard to be hacked. :) Title: Re: Upgrade from Mutlibit Classic to Multibit HD? Post by: OmegaStarScream on August 29, 2015, 10:31:31 AM Hello I'm new with Bitcoin and there is something I don't understand... I used Multibit Classic version for one month. I understand that they created some files in a folder, and that it is our "wallet"? But now I switched to Multibit HD. And there are no such file? I don't understand what happen if I lose my computer, and where are my bitcoins exactly? It seems like I only need the "secret list of words" in order to get my bitcoin back, if I lose my computer for example. But it seems weird to me. If I lose my computer. I can take another computer. install Multibit HD. Enter the list of words. And I'll have my Bitcoins back?? really? Thanks for your explanations... Yes those list of words are available on wallets like Multibit HD and Electrum (Desktop wallets) and they allow you reocver your wallet in case of computer failure or something else . To upgrade , if you have .key file from the old wallet then keep that then you can upgrade , both version use .key file as far as I know (which contains your private keys) Title: Re: Upgrade from Mutlibit Classic to Multibit HD? Post by: Velkro on August 29, 2015, 10:39:38 AM I wouldn't upgrade even when payed for it. Multibit HD steals your privacy by tiding it with forced "donations" each transaction made.
I would recommend Bitcoin Core or XT for day to day use. Title: Re: Upgrade from Mutlibit Classic to Multibit HD? Post by: harrymmmm on August 29, 2015, 10:42:09 AM Hello I'm new with Bitcoin and there is something I don't understand... I used Multibit Classic version for one month. I understand that they created some files in a folder, and that it is our "wallet"? But now I switched to Multibit HD. And there are no such file? I don't understand what happen if I lose my computer, and where are my bitcoins exactly? It seems like I only need the "secret list of words" in order to get my bitcoin back, if I lose my computer for example. But it seems weird to me. If I lose my computer. I can take another computer. install Multibit HD. Enter the list of words. And I'll have my Bitcoins back?? really? Thanks for your explanations... It looks like the 'key' to your confusion is that you didn't appreciate that the 'coins' are actually out on the blockchain. The wallets only hold keys to the blockchain addresses. HD wallets only hold keys to addresses generated from an initial seed = the secret word list. So that wallet can be regenerated from the seed on any computer you like, and will allow access to the blockchain addresses so you get your coins back. |