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Bad call IMO. The charts tell the story look at ETC compared to ETH.
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Ether is the flavor of the month right now. Money that would be used to buy Monero is going to Ether instead. Next month is another story. Traders go where the action is.
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There is one thing i wish to add:
~Bitcoin~'s proposal is perfect. Using the sourcecode of bitaddress.org on a clean, air-gapped computer is safe. The only downside on this is: if you wish to spend your funds, you usually sweep the private key (read the private key into a desktop/mobile wallet). As soon as you've swept your private key, it's compromised, and you should discard the paper wallet (or at least, never use it again, you should never actually erase private keys).
An option if you want a wallet with wich you can actually make outgoing transactions in a relatively easy way is installing a wallet on an airgapped, offline, computer, and installing a watch-only wallet on an online computer (a wallet that doesn't have your private key).
The wallet on the online computer is used to generate transactions. The transactions are printed or saved on a usb-stick and transported to the offline computer for being signed with the wallet containing your private key.
The signed transaction is then transported back to the online computer to be broadcasted with the watch-only wallet.
I've used electrum for this purpose in the past...
- install electrum on a clean, offline, computer... Generate a new wallet (write down the seed)
- export the xpub, put it on a usbstick
- install electrum on an online computer, import the xpub
- generate a transaction from the online computer, save on a usbstick
- transfer to the offline computer, sign with electrum, move signed tx to the usbstick
- broadcast it from the online computer
So, to sum it up, in my opinion:
- paper wallet = wallet for long time storage... A deposit address you use to dump your coins into that is really safe and easy to generate
- offline wallet = wallet that can still be used to generate outgoing transactions in a relative easy way, but is harder to setup
Using Electrum or Armory for cold storage using two computers works fine but has largely been replaced by hardware wallets which are just as secure and a heckuva lot more convenient. Anyone can afford a Ledger Nano S for $65. You can also store private keys for ETH and ETC and use the Nano S for secure login to sites like Google. |
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I have not been able to get my Trezor recognized by electrum or Multibit HD in Windows 10. I have updated firmware and trezor bridge. Strangly enough mytrezor.com works fine, but neither electrum or Multibit recognize the trezor at all, though I do hear the windows usb noise when I plug it in. Can anyone tell me how to get multibit hd to recognize it again, I really don't care about electrum.
Thanks
Latest Electrum 2.6.4 working fine with Trezor 1.4.0 here. You might want to uninstall the bridge and try Chrome with the Trezor extension instead. |
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If you have your bitcoin .dat wallet then you are safe no matter what,even if you are using third party wallets. Hope this helps and hope i cleared most of your doubts.
Your advice is just plain wrong. |
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To be secure you have to keep your private keys offline. You have always been able to do that with Electrum and Bitcoin Armory using two computers. A hardware wallet like Trezor is open source and much more convenient. Ledger Nano S is another alternative but the Secure Element used cannot be open source due to NDAs.
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Thank you for the link. Wow, that will be a long read, but I will head there and take it in this weekend. I needed to get pointed, so thanks again!
Sorry was not clear. Just copy and paste your post here at the end of the Trezor thread on the forum and same at reddit. You should get an answer within a day. No need to read through the whole thread. |
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If you want a response from a Trezor developer you really should post your concerns at the main Trezor thread here on the forum or at /r/Trezor on reddit. |
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Need to think long term. With the increasing sophistication of blockchain analysis tools I think it is probably inevitable that darknet markets switch from Bitcoin to Monero. Takes time. Even rpietila mentioned a few pages back that he expects price to correct to .01. No big deal, just buy with both hands then. |
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Monero just had a 50% correction, to be expected after the run up. I would like to see .015 hold for a good while.
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Hi. I'm new with Monero and would to setup my first wallet for it. Kindly provide me the link where to create my first wallet for Monero. Thanks in advance.
For privacy you are best off running your own Monero node see https://getmonero.org/getting-started/runningUntil Monero comes out with their own GUI if you do not like using the command line LightWallet2 is your best option: https://github.com/jwinterm/LightWallet2Note you will have to change settings on LightWallet2 to use your local bitmonerod instance set it as http://localhost:18081All the files for running your Monero node and Lightwallet2 should be located in one folder on your desktop. Start bitmonerod by clicking on it and after the blockchain is updated click on Lightwallet to start the GUI. This should get you up and running. |
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Shared Coin and other coinjoin services were broken back in 2014 as reported by Kristov Atlas. At the moment the best way to anonymize bitcoin is through the use of Monero. |
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Landies and Gents, please be careful with your XMR! IF this pump follows the same shematics as the last one, i would sell my XMR now and buy back in way lower. Just look at the similarities from the last pump, only the timeframe and volume from this august-september pump is more intense. Last Pump  This Pump  couldn't care less... even if you bought at the top of what you call the previous pump, you still made out like a bandit right now... and again, this is not your ordinary pump, monero has utility now... you seem to be the only one who doesn't get this... would you say that bitcoin reaching 600$ was a pump & dump? Sure, there were pumps, but all in all bitcoin is worth this much now because of utility... let's hope the same happens with monero, good luck trading it... I won't try it for sure best regards Monero has enough volume now that traders will start applying traditional TA to the price. Everyone who trades uses Fibonacci levels and Elliott Wave theory to help with entries and exits. Monero has now made three impulse waves up:  Any seasoned trader would see the three impulse waves up and start thinking that it may be time for an ABC two wave correction. Usually an ABC correction goes down to the vicinity of the top of the first impulse wave in this case .01. Not always though. A 50% to 61.8% correction might be all that occurs. If price is in an extended wave 3 we could see a new ATH. The point is buying at this level carries more risk than normal. You can always wait for a down day on heavy volume to get a better price. |
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What is the appeal of paper wallets when you can buy a good hardware wallet like Ledger Nano S for $65? Store your seed safely and consider that a 'paper wallet' if you like. Meantime you have a device that keeps your private keys securely offline and you can use day to day. You do not need to worry about losing bitcoin from not handling change addresses the right way when spending from your paper wallet.
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I would vote for XMR only but wait for a bargain price to buy. I think we could see a flash crash to .01 before advancing to .02. We just had a 50% correction and could still see worse. Chance of that goes down if price gets back above .016 soon.
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I have bought a Trezor and want it to connect to my Electrum wallet, but i can only find tutorials with Trezor and creating a new wallet. So i have a few questions:
- Can i use Trezor with excisting Electrum wallet?
Better not. The Electrum wallet on your computer is a file that contains private keys that may have been compromised by the simple fact that they were inside a file sitting on your computer... The private keys in your Trezor will never see the light of day. You invested $100 to safeguard your bitcoins? Start on the right foot - create new private keys. To do so, initialize your Trezor with mytrezor.com (write your seed words !). Now that you have created your private keys inside your Trezor, let Electrum know of your corresponding public keys: Start Electrum, and create a new wallet (File --> New/Restore --> give a name to your new Electrum/Trezor "public" wallet --> Create New Wallet & Hardware Wallet --> Initialize a new Wallet & Trezor). Electrum will create a new Trezor wallet on your computer, but it will contain only public information, like public keys and transaction information - no private keys whatsoever - the private keys always remain within the Trezor H/W. A transfer of your old Electrum wallet BTC to the new Trezor addresses, using the bitcoin network, is the best "transfer" solution. - If not, can i create a new wallet with Electrum and Trezor and that it creates 2000 new btc addresses again? If so, how can i do that?
You failed to mention why you would need 2000 addresses - You obviously have a special requirement that you didn't explain. Electrum/Trezor will function the same way that Electrum alone functioned, and it will create new keys as required (beyond the initial 20 addresses), once you used them up. If you really want 2000 new BTC addresses from the start, you can increase the gap limit from default 20 addresses to 2000. But if you do - be careful about recovering from seed - make sure you write next to your seed words that you did that. So if you really really have to create 2000 addresses from the start - do this in the Electrum console tab: wallet.change_gap_limit(2000) ... and then check the long list of addresses in the Address tab. But again, if you recover your wallet from seed and don't increase the gap limit again to 2000, you will think that you are missing some bitcoins - don't complain! The private key of electrum is in form of file right? But if we set password it will be encrypted right? So is it really safe using electrum? or should I remove my electrum completely so I do not have to change my private key There are bitcoin stealing malware that keylog your passphrase and steal your wallet.dat. Using a password is important, but the safest way to use Electrum is to get your private keys offline. You can do cold storage using two computers, there are directions at the Electrum website. Of course you have to keep one computer offline forever if you go that route. That is why hardware wallets like Trezor that integrate well with Electrum have become popular. |
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I am afraid Google, Dropbox, Github, etc aren't adding Trezor Connect just yet  so seems like another great update to me. Since Ledger Nano S added FIDO I have been using it to authenticate with Google. Trezor says in their new blog post that after firmware update to 1.4.0 you should be able to use Trezor to authenticate with Google on Chrome. Not working for you? |
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