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in order to recreate the wallet you need the missing cosigner's xpub. so even if you have 2 out of 3 cooperating cosigners but no xpub for the remaining 3rd one you will not be able to spend the coins. the only way to get the xpubs now is to have them recreate the wallet and email you the xpub that electrum gives them. it's may be a Zpub or something btw. the different first letters denote different script types.
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lots of electrum servers get blocked like this because crypto mining malware uses them to access the blockchain and antivirus software can't tell the difference between legit software and malware. so you have to whitelist port 50002 or you'll keep facing this problem.
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running a full node is not some complex endeavor. you just run bitcoin core software and it does the sync automatically. it just takes time to download the blockchain. you can enable pruning to save disk space.
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Hey,
I've been reading some topics on the message board stating that Electrum wasn't design to handle wallets with a large addresses/transactions history, although there are no hard-coded limitations.
In a merchant situation where a lot of addresses and transactions occur on a daily basis (e.g naivly 100 addresses for 100 transactions a day), does it make sense to "load balance" payments using multiple wallets (e.g naivly 1 wallet for 10 transactions a day = 10 instances of wallets for 100 tansactions a day) ? Does anybody experienced such architecture ?
Thanks
no just run a full node Yes I already took a (short) look at Bitpay, as well as BTCPay server which is API compliant, as a possible alternative. However at this point I actually need to avoid centralized services as well as third-party payment providers. This is a technical/business requirement.
Thanks again for your answers and point of view!
btcpayserver is not centralized. it needs bitcoin core running. with bitcoin core i.e. a full node you have the blockchain on disk so you can handle very large wallets. |
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The new wallet I made, using my seed to recover, shows as no funds in it.
as in zero balance in the bottom left or forever stuck on synchronizing or not connected? |
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So I made several payments yesterday, and being a cheapskate and never in a rush I always pay the lowest blockchain fees. I've had previous transactions be a bit late before but nothing to this scale. Two payments in electrum history just say "Unconfirmed" and threee say "Unconfirmed parent", and it's been stuck like that for 24 hours now. The blockchain just shows all transaction IDs as unconfirmed too.
Did I just time this wrong with all the news about bitcoin prices skyrocketing yesterday and now everyone is buying in?
yes. well sending to exchanges to sell most likely |
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Hi thanks for your reply.
Yes it says 2fa on my wallet with the funds in.
With the new wallet. I selected 'disable 2fa' when setting it up, yet it also shows as [2fa]
I'm really confused!
yeah but you won't need the otp code from google authenticator to spend from a disabled 2fa wallet. alternatively you could still use the original wallet with 2fa enabled. the google authenticator entry is called trusted coin not electrum so i'm sure that's the mistake you are making. |
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swiping usually means sending the coins to an address in the software wallet. so the paper wallet private key no longer controls the funds. the funds are in the software wallet and can be backed up via the seed or whatever that the software supports. the change issue does not arise in this case and it's not the same as importing private keys.
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they could switch to lightning. that way people can pay per transaction. this would remove the shock of that large prepayment.
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So after trying to design a scheme to add TOTP as a second step for opening Electrum wallets I ran into a major problem. There is no safe way to encrypt the wallet.dat using both the password and OTP result.
OTP requires two parties store the secret key independently from each other, but in this case the "parties" are you, in the form of your phone, and the Electrum wallet. The wallet has no safe place to store the secret key short of encrypting it with the password, but that nullifies the benefits of 2FA since the password can now be used to obtain the secret key. This means that if you know the password then the 2FA result can be trivially guessed so it's no more secure than using a single password.
There is also the equally as important issue of how the OTP result can be used to encrypt the wallet.dat. Passwords are currently stretched with PBKDF2 HMAC-SHA512 with an empty salt. We have the option of either using the OTP result or the secret key as the salt. If we use the secret key, it has to be transmitted with TLS from a secure place where it's stored (possibly from some other local system with a key store for OTP secret keys), but there is a risk that a buggy implementation might inadvertently expose it in plaintext. And of course OTP results can't be used for encryption because they are constantly changing and there's no way to create them again without the secret key. And the whole point of OTP is to keep the secret key somewhere safe.
And without encrypting the wallet.dat using something derived from the secret key, anyone that can brute force the password can unlock the wallet which is a loophole in this 2FA setup that reverts it to the 1FA we presently have...
So this is doable but our best shot is in using some established key store software like libsodium to keep the secret keys in, securely transmit it to the wallet to use as a salt, and hope that I don't write something stupid that gets the key leaked. (Libsodium is how Github stores repositories' API keys for third party publishing and testing services)
It's worth noting that a Google Chrome on Linux uses a password-protected PGP key and GPG software to encrypt all of its saved logins and passwords so I can definitely see me using some command-line tool to encrypt the secret keys to a file as well.
the otp is not used to encrypt anything. it's a 2 of 3 multisig wallet with only one of 3 extended private keys stored in the wallet file. during normal usage you have to get trusted coin to sign the transaction with their key so that the transaction goes through. they are the ones that make you enter the otp code. |
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Which factors are considered for a transaction to be of higher priority so as to be confirmed in the next block or be closer from the tip if all the transactions in the mempool were of the same free rate, say all were at 1 sat/byte at a given time? There used to be a concept called transaction priority. It was based on the following formula: sum(input_value_in_base_units * input_age)/transaction_size_in_bytes input_age was how many confirmations the input to the transaction had, so coins which had not been moved in a long time had priority over coins which were being moved around frequently. Transactions which moved larger quantities of bitcoin were higher priority, and transactions which were smaller in terms of bytes were higher priority. This has all since been removed, though, and so is no longer relevant. Miners and pools will now decide for themselves which transactions to prioritize. And that is by looking at the fees they pay. So they will prefer transactions paying more over less. |
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God this is driving me nuts. I've literally spent weeks trying to figure this out! Is the electrum mobile app crap or something?
So, I can't click on finalize or sign or broadcast, because they don't exist in the app, I've scoured the menus. I also can't even find a 'tools' menu.
I've installed Electrum on my desktop and opened up the wallet with my seed. But at the bottom it says Balance 0 mBTC. So WTF?
I thought maybe the money had gone from my wallet and was going to give up on it all, but when I go back to the app and set up a send action I can do the following:
1: Set recipient address
2. Set amount to send
Then a number pad comes up and it has a button that says max and when I click it it comes up with 0.00804 BTC, which is about what I had originally in the account.
So have I got coin in my wallet or not? And if I have why doesn't it show on desktop and if I haven't why is it bringing up a figure on the mobile app??
Honestly I've been using computers professionally for 25 years and never struggled so much with anything like this!
see 2 here: https://bitcoinelectrum.com/frequently-asked-questions/#my-seed-is-not-restoring-my-wallet-what-can-i-do |
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There was never a 'confirm action' pop up but I clicked on the 'Unpaid' invoice in Send and then clicked Pay.
It gave me a quote for the mining fee and looked like it had gone through.
Status: Unsigned
Amount sent: 0.007 etc
Transaction Fee: 0.00007
But it also said 'unsigned'. I did this yesterday and was charged the mining fee I think but the btc never left the wallet.
There is nothing in the history after doing this and the invoice still says 'unpaid'
click on finalize, then sign and broadcast. also to simplify this process in future disable advanced preview under tools > preferences > transactions tab. |
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So if I imported my keys to mobile wallet, and it shows a balance, i can send those funds? It has same addresses on the paper wallet that are on my phone, I tried sending the coin back to paper, but the transaction is uncofirmed, but there was a fee charged of course. Should I not have done this? Should I just send my coin to the xchange where I am trying to sell? Where can I get some hands on help ?Is that even possible?
it's free and open source software. we are volunteers who help out in this community forum. i don't know what you are expecting? |
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This private key is not encrypted. Just looking for easiest way to get it off paper wallet and sell it on an exchange. Electrum seems to be best way because I am not waiting 4 days for the bitcoin core wallet to sync....
Some thoughts: 1. Watch only wallet is a wallet you cannot spend from. From what you wrote that may not be clear. 2. If you create a wallet in Electrum from address it'll be watch only; if you create it from private key it will be full address and you can spend. 3. If you just want to send to exchange you most probably don't care about change addresses and such. 4. Sweeping the paper wallet, afaik, means that you already have a wallet you are working from and it creates a transaction from your paper wallet to the wallet you are in "now"; although it could be easier to use (scan qr) it means extra costs (the network fee for the extra tx). 5. If your paper wallet has the private key visible and unencrypted and you think you have the patience to type the entire private key into Electrum, that would be the fastest way to access the coins. 6. Make sure the Electrum you use is downloaded from electrum.org and the signature is verified ( https://bitcoinelectrum.com/how-to-verify-your-electrum-download/ ) 7. If you import the private key you'll probably have to tell Electrum what type of address is the private key for. This means you may have to type something before the private key, the [Info] button should tell you what. (for address starting with 3 you'll need p2wpkh-p2sh: or, for bc1 you'll need p2wpkh:; for starting with 1 it's p2pkh: ) 8. Since my explanations may not be the best, it could be useful to also read https://bitcoinelectrum.com/importing-your-private-keys-into-electrum/9. Keep in mind that when you'll send away the funds to exchange you'll have to pay the network fee; you better inform yourself about it. THANK YOU for explaining your point #7. All the tutorials I see are from version of electrum prior to 4.0.5. and they do not have steps explained as you described in 7. SO when I type in address of private key, I type" p2pkh: (insert bitcoin address) " Easy enough. Already did PGP verification through kleopatra. Why is hand typing the private key into my electrum wallet faster than using a QR code? is that a different transaction that has a cost associated with the transfer? - you don't hand type the private key. you copy paste it or scan in the QR code. obviously hand typing would be error prone and slower. - a private key can unlock coins sent to a few different types of addresses. the script type prefix is how you tell electrum which address to generate. the prefix is added in front of the private key when importing or sweeping. it is not added to the bitcoin address. the address is derived from the public key which is in turn derived from the private key so the private key is what you import not the address. - creating an imported private key wallet does not transfer your coins anywhere so there is no fee associated with it. sweeping your private keys to an existing wallet does result in a transfer of coins and a fee. |
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native also the other one is likely p2sh segwit. they are all bitcoin addresses  |
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a wallet with the private keys is not a watch only wallet. you can spend from it.
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whose address is it? did coinbase give it to you?
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Using old archived versions of Electrum is probably the way to go however the files listed in the archive go back only to 2015. The wallet I wish to restore was created in 2011. Then open the wallet file "electrum.dat" using the latest version 4.0.5 (File->Open->Browse to the location) to sync it to the network and to see your balance.
Do you know if anything changed that might not allow this approach? old seeds are supported in the latest electrum so what exactly is the problem? a random set of words in that list should restore a wallet since there is no checksum. so what is the problem you are facing? are there no funds in the restored wallet? no history on the history tab? or is there a history but 0 balance? edit: how many words in this seed you have selected? current versions don't support old seeds smaller than 12 words because that's what the software generated at the time. so that may be the issue you are facing. if you want to try an old version you can get it via the git repo. however it should not be necessary since the latest version supports old seeds. |
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