|
Title: Paper Wallet questions... Post by: movellan on March 29, 2013, 08:14:40 AM Some questions about the paper wallets generated by bitaddress.org,
1) When first generated and printed, the wallet is just a piece of paper? No connection to the blockchain, yes? 2) When a transaction is generated and Bitcoin is sent to the wallet address, it then is recorded on the blockchain? 3) When you merge a paper wallet with an online wallet like at Blockchain.info, how does the receiving address confirm the private key printed on the paper wallet? 4) How do you merge a paper wallet directly into a QT client? TIA. Title: Re: Paper Wallet questions... Post by: Stephen Gornick on March 29, 2013, 08:23:15 AM 1) When first generated and printed, the wallet is just a piece of paper? No connection to the blockchain, yes? Yes. 2) When a transaction is generated and Bitcoin is sent to the wallet address, it then is recorded on the blockchain? Yes, that is the first that the Bitcoin network knows of that address. 3) When you merge a paper wallet with an online wallet like at Blockchain.info, how does the receiving address confirm the private key printed on the paper wallet? You "import" the private key into the Blockchain.info/wallet. That private key is then no different from any other private key in that wallet. The Bitcoin address is a derivative of the private key. So it doesn't need to know the Bitcoin address, just the private key. 4) How do you merge a paper wallet directly into a QT client? Code: importprivkey yourPrivateKeyInWalletImportFormat - http://en.bitcoin.it/wiki/How_to_import_private_keys_v7%2B#Run_Import_Command_in_Debug_Window Title: Re: Paper Wallet questions... Post by: movellan on March 29, 2013, 09:01:34 AM Thank you very much, Mr. Gornick, for your precise and timely response.
Title: Re: Paper Wallet questions... Post by: ComCle on March 29, 2013, 09:22:23 AM Good explenation.
Thanks |