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Title: Cold-Storage Post by: unlimited_020 on August 24, 2014, 08:26:25 PM When taking bitcoins out of cold storage or paper storage, am I right in saying that you have to take the entire amount from your cold storage address? I.e if you had $10 worth, you could only take out $10 worth and not $5 worth>
Title: Re: Cold-Storage Post by: Josepht on August 24, 2014, 08:31:34 PM With the paper wallet, you import the private key into your wallet. You have the total balance available. You are able to send e.g. half of the amount.
Title: Re: Cold-Storage Post by: DrG on August 25, 2014, 01:01:17 PM Once your cold wallet gets access to an internet connection it is no longer cold. You would need to make a new offline wallet address (the same way you made the original cold wallet) and send whatever fraction of the $10 that you didn't use to that new address.
Title: Re: Cold-Storage Post by: Dare on August 25, 2014, 05:25:37 PM Once your cold wallet gets access to an internet connection it is no longer cold. You would need to make a new offline wallet address (the same way you made the original cold wallet) and send whatever fraction of the $10 that you didn't use to that new address. Exactly. While using only part of the funds in a cold wallet is possible, it decreases the security of that wallet significantly. Title: Re: Cold-Storage Post by: jeroenn13 on August 25, 2014, 05:36:30 PM When taking bitcoins out of cold storage or paper storage, am I right in saying that you have to take the entire amount from your cold storage address? I.e if you had $10 worth, you could only take out $10 worth and not $5 worth> Thats correct, sometimes the change will be sent to another address. You do not have the private keys for that address. Title: Re: Cold-Storage Post by: Testing123 on August 25, 2014, 05:36:54 PM Once your cold wallet gets access to an internet connection it is no longer cold. You would need to make a new offline wallet address (the same way you made the original cold wallet) and send whatever fraction of the $10 that you didn't use to that new address. True. But then OP could sign the transaction on the offline machine, and broadcast the transaction on the online machine. In that case, he won't need to load the private key on an online machine. Title: Re: Cold-Storage Post by: devonne on August 26, 2014, 10:45:47 AM Once your cold wallet gets access to an internet connection it is no longer cold. You would need to make a new offline wallet address (the same way you made the original cold wallet) and send whatever fraction of the $10 that you didn't use to that new address. True. But then OP could sign the transaction on the offline machine, and broadcast the transaction on the online machine. In that case, he won't need to load the private key on an online machine. Well said without errs,perfect. :) :) |