Bitcoin Forum

Bitcoin => Electrum => Topic started by: menopopeye on March 17, 2021, 12:37:22 PM



Title: use wallet imported from amory offline within electrum
Post by: menopopeye on March 17, 2021, 12:37:22 PM
I have manage to export my wallet from amory
I imported the private keys to electrum
now I want to create a watch only walllet (within electrum)
and offline transactions

but my imported wallet has no master public key, how do I proceed?


Title: Re: use wallet imported from amory offline within electrum
Post by: hosseinimr93 on March 17, 2021, 02:34:48 PM
Your wallet doesn't have master public key, because it's not  HD (hierarchical deterministic). Your wallet only includes the private keys (and corresponding addresses) you exported from Armory.
For creating the watch-only wallet, you can create a new wallet, select "Import Bitcoin addresses or private keys" and enter all your addresses.

If you want to have a wallet with master public key, you can create a new HD wallet and move all your fund to that.
To do so, create a new wallet, select "Standard wallet" and then "Create a new seed".


Title: Re: use wallet imported from amory offline within electrum
Post by: mersal on March 17, 2021, 02:38:39 PM
You can create watch only wallet on Electrum using your private key as well (correct me if I am wrong) but it completely void the security and the purpose you are doing it for. So better create a new wallet with the electrum itself for offline cold storage purpose then you can have your master key by clicking Wallet ==  Public key


Title: Re: use wallet imported from amory offline within electrum
Post by: Charles-Tim on March 17, 2021, 03:21:16 PM
You can create watch only wallet on Electrum using your private key as well (correct me if I am wrong)
No, you can not use private key to create watch-only wallet, you can only use it to recover wallet in which the whole wallet will be regenerated. To create a watch-only wallet, you need the master public key or the addresses to be imported as hosseinimr93 explained.


Title: Re: use wallet imported from amory offline within electrum
Post by: mersal on March 17, 2021, 03:47:02 PM
You can create watch only wallet on Electrum using your private key as well (correct me if I am wrong)
No, you can not use private key to create watch-only wallet, you can only use it to recover wallet in which the whole wallet will be regenerated. To create a watch-only wallet, you need the master public key or the addresses to be imported as hosseinimr93 explained.
Thanks for clearing the doubt, because I came across an article where they mentioned you can also use the private keys to create a watch-only address, probably it was available in old version or never had such a feature?


Title: Re: use wallet imported from amory offline within electrum
Post by: Charles-Tim on March 17, 2021, 04:06:14 PM
Thanks for clearing the doubt, because I came across an article where they mentioned you can also use the private keys to create a watch-only address, probably it was available in old version or never had such a feature?
There are some misleading articles online, that is why forums like Bitcointalk are very important to get valuable information. How private key is designed, it is designed to fully recover your wallet. The private key itself can generate signature anytime you want to spend, but public keys and addresses can not generate the digital signature, which means they can not be used to spend (but only used as watch-only). So, addresses and public keys can not generate digital signature, in which they can not be used to spend but only as watch-only wallet. In this regard, the private key is very important, it is able to generate the public key and the address will be generated, while generating digital signature to unlock bitcoin on blockchain and spend it which can not make it be used as watch-only on wallets but to spend. In this regard, anyone that has the private key generated by a particular wallet can be use to unlock and spend the bitcoin the private keys controls on blockchain.


Title: Re: use wallet imported from amory offline within electrum
Post by: mersal on March 18, 2021, 06:19:31 AM
Thanks for clearing the doubt, because I came across an article where they mentioned you can also use the private keys to create a watch-only address, probably it was available in old version or never had such a feature?
There are some misleading articles online, that is why forums like Bitcointalk are very important to get valuable information. How private key is designed, it is designed to fully recover your wallet. The private key itself can generate signature anytime you want to spend, but public keys and addresses can not generate the digital signature, which means they can not be used to spend (but only used as watch-only). So, addresses and public keys can not generate digital signature, in which they can not be used to spend but only as watch-only wallet. In this regard, the private key is very important, it is able to generate the public key and the address will be generated, while generating digital signature to unlock bitcoin on blockchain and spend it which can not make it be used as watch-only on wallets but to spend. In this regard, anyone that has the private key generated by a particular wallet can be use to unlock and spend the bitcoin the private keys controls on blockchain.
Yup you are right, but actually, I misread the information in the article or just did in a hurry (probably) where they mentioned entering master public key to create a watch-only wallet or enter private key to create a spending wallet.Anyway, I got it now and used my PC this time to read those info, kind of dizzy when reading an article that contains a lot of information on a smaller screen. :-X