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Title: Will encrypting my Bitcoin Core wallet move the funds to different addresses? Post by: Bitcoin Casino Directory on June 08, 2014, 01:12:09 AM The reason I'm asking is because I started the encryption process and then a window appeared that said: "Bitcoin Core will now shut down in order to complete the encryption process. For security reasons, previous backups of this wallet will become useless as soon as you start using the encrypted wallet."
What does this mean? Will it move my funds automatically, or will it just flush the address pool or what exactly will it do? I don't want it to move any of the balance unless I actually do a transfer! Title: Re: Will encrypting my Bitcoin Core wallet move the funds to different addresses? Post by: Light on June 08, 2014, 01:29:35 AM Relax, all it does is flush and change the pool of future keys it will use, so any future transactions will be on different addresses. The current addresses that have been used should remain the same.
Quote Besides storing your current private keys, bitcoin wallet file also contains some pool of unused private keys. When encrypting wallet, this pool is flushed. If you make some transaction using new (encrypted) wallet then change is sent to one of addresses from the pool, which is not present in old (unencrypted) wallet. For example, you had 1BTC incoming transaction and spend 0.1BTC, then remaining 0.9BTC will be send to a change address. Then old (unencrypted) wallet will not be able to use this 0.9BTC, and they will be lost. But if you haven't done any transactions involving your coins, the old wallet will work. Title: Re: Will encrypting my Bitcoin Core wallet move the funds to different addresses? Post by: Bitcoin Casino Directory on June 08, 2014, 01:29:52 AM Now I'm afraid to start Bitcoin Core if it will start moving funds around. I have all keys backed up so that's not a problem.
I already have a follow up question: What's the best way to move funds from a specific address that I have in Bitcoin Core? EDIT: I just do "dumpprivkey YourBitCoinPublicAddress" never mind my question! Title: Re: Will encrypting my Bitcoin Core wallet move the funds to different addresses? Post by: Foxpup on June 08, 2014, 01:36:18 AM No, your previously used addresses will not be affected. What the message is referring to is the pool of unused addresses, which is what allows old backups to still work even if you've created new addresses in the meantime. This pool of unused addresses is wiped and recreated when you encrypt your wallet or change your passphrase, meaning if you create a new address in your encrypted wallet, this new address will not be present in your old backups (it otherwise would be).
Note that the pool only contains 100 addresses by default, and for technical reasons a new (hidden) address is created each time you send coins, so you must backup your wallet regularly whether you've encrypted it or not. What's the best way to move funds from a specific address that I have in Bitcoin Core? Click Inputs under Coin Control when sending coins, and select which address(es) to use.Title: Re: Will encrypting my Bitcoin Core wallet move the funds to different addresses? Post by: Bitcoin Casino Directory on June 08, 2014, 01:57:17 AM What's the best way to move funds from a specific address that I have in Bitcoin Core? Click Inputs under Coin Control when sending coins, and select which address(es) to use.Thanks for your answer! I don't have this in my wallet, is that from a plugin or recently added functionality? Title: Re: Will encrypting my Bitcoin Core wallet move the funds to different addresses? Post by: Foxpup on June 08, 2014, 06:13:55 AM Settings -> Options -> Display -> Display coin control features (experts only)
Title: Re: Will encrypting my Bitcoin Core wallet move the funds to different addresses? Post by: odolvlobo on June 08, 2014, 06:20:57 AM The reason I'm asking is because I started the encryption process and then a window appeared that said: "Bitcoin Core will now shut down in order to complete the encryption process. For security reasons, previous backups of this wallet will become useless as soon as you start using the encrypted wallet." All this means is that you must back up your wallet after encrypting because "previous backups of this wallet will become useless". Title: Re: Will encrypting my Bitcoin Core wallet move the funds to different addresses? Post by: ondratra on June 08, 2014, 03:51:55 PM Relax, all it does is flush and change the pool of future keys it will use, so any future transactions will be on different addresses. The current addresses that have been used should remain the same. Quote Besides storing your current private keys, bitcoin wallet file also contains some pool of unused private keys. When encrypting wallet, this pool is flushed. If you make some transaction using new (encrypted) wallet then change is sent to one of addresses from the pool, which is not present in old (unencrypted) wallet. For example, you had 1BTC incoming transaction and spend 0.1BTC, then remaining 0.9BTC will be send to a change address. Then old (unencrypted) wallet will not be able to use this 0.9BTC, and they will be lost. But if you haven't done any transactions involving your coins, the old wallet will work. Does this mean that if I encrypt unencrypted wallet I should also send all coins on new address - to make sure all coins are not available by some private key in old unencrypted wallet? Title: Re: Will encrypting my Bitcoin Core wallet move the funds to different addresses? Post by: odolvlobo on June 08, 2014, 05:13:43 PM Does this mean that if I encrypt unencrypted wallet I should also send all coins on new address - to make sure all coins are not available by some private key in old unencrypted wallet? If you destroy your unencrypted backups, then there is no need. Title: Re: Will encrypting my Bitcoin Core wallet move the funds to different addresses? Post by: ondratra on June 08, 2014, 09:17:56 PM Does this mean that if I encrypt unencrypted wallet I should also send all coins on new address - to make sure all coins are not available by some private key in old unencrypted wallet? If you destroy your unencrypted backups, then there is no need. Thx. Plus I am quite paranoid -> goning to send to new address :D |