Gotcha. I think that makes sense, thank you.
To confirm though, once I have a paper wallet with ltc deposited, I can just leave it there. Then when I want to sell, I will have to download something like litecoin-qt? I can't just make a deposit to an exchange like btc-e or cryptsy? I would have to take my private key, import it to litecoin-qt and then I can move it to an exchange? I just have a laptop so the idea of downloading all these big files is unappealing.
Yes, you got it right! If your wallet is passphrase protected, you will have to unlock the wallet before you issue the "importprivkey" command. You can do this with the following command in the "Console": walletpassphrase "yourPassPhrase" ### Where ### is the number of sec. the wallet should be unlocked importprivkey yourPrivateKey Where yourPrivateKey is the private key that you want to import. The client freeze for a few minutes, this is normal since it has to scan the entire blockchain. *** I don't know any other options for litecoin, you have to investigate that. I know for bitcoin that you can import a privatekey into blockchain online wallet, or mycilium can also load a key, actually you can use the webcam, its pretty cool. Mt.Gox also had a "redeem private key" function before he died. I will recommend that you try loading a paperwallet with 0.001 LTC and try to redeem them again, so you have some experience and know what you are doing the day you need to redeem your saving. Edit: Maybe else someone knows if there is a litecoin online-wallet that can redeem privatekeys, simular to blockchain-wallet? |
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Thank you for taking time to write this out. Could you expand on the last line? I'm really new and having a hard time grasping what qt is and how to use it? Or if it's even necessary? Can I just get a paper wallet for my litecoins from liteaddress.org, store coins, and then like send it to btc-e when, in the future, I'm ready to sell?
Yes, you can store your coins in a paperwallet. You must understand that a "wallet" is basically a private key that can sign transaction messages. Only the person who has the private key can sign a transaction from a given litecoin address. It is very safe way to store coins in paperwallets, since you can generate the wallet (privatekey) completely offline. The problem comes when you want to spend your coins, sooner or later you have to "expose" your key to internet. (there are some ways to avoid this with applications like "Amory", but that is only for expert-users). If you have paper wallet, you can import that private key into QT fairly easy and safe, but then is the private key "exposed", and you must make a new paper wallet. In other words, you can only (safely) redraw funds one time from a paperwallet. |
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Personally I use two QT clients and a paperwallet, which serves different purposes.
1. QT-wallet "hotwallet" on my regular PC for everyday transactions, never keep too much in this wallet, if the ballence gets to high, I transfer some of the funds to my coldwallet.
2. QT-wallet "coldwallet", on a dedicated PC that I only startup when I need to make a transaction.
3. Paperwallet, for long time storage, I never touch this one, hidden away, far way. The private key has super high entropy and is generated manually, the private key has never been exposed to any networks.
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Thanks for the info. flounderella. Is there anyway you could please break that down into more layman's terms and explain to me how to get that bootstrap file into my Litecoin directory? -Make sure Litecoin-QT is closed. -Copy the bootstrap.dat into "C:\Users\yourusername\AppData\Roaming\Litecoin" (this is the default path for win7) -Start Litecoin-QT When Litecoin-QT start synching with the network, it will load from the bootstrap.dat file first, instead of downloading the entire blockchain by peer-to-peer. That usually save some time when installing a new wallet. If you are not in a hurry, then just let it sync by it self. By the way I only use Litecoin-QT, not even considering anything else, runs very stable.
Edit: flounderella pretty much sums up all you need to get a good start, read his post carefully. |
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Well, it could be worse. They're not doing that preorder stuff and they're not mining with their clients hardware.. At least the diff(s) are not suggesting that.
+1 |
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So I updated my wallet and backed up my .dat file. When I went to put the file back it says data is corrupt and it makes me a new wallet. Why is this happening and what will become of my 1000 Doge?
The amount of different coins in your signature is truly impressive. |
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With all due respect to Gridseed's design, they "only" do 60 KHash/s per chip.
When that is said, time-to-marked is absolutely critical, and Gridseeds timing is perfect, but more perfect is the price the set by gridseed (read: the price is very-very high).
The price is just "low" enough to keep a small hope for miners to break-even or even make a small profit.
Gridseed play the cryptocurrency game perfectly!
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I have played with this open source scrypt FPGA (I am not the designer of this, all credits goes to the respective designers): https://github.com/kramble/FPGA-Litecoin-Miner(Published 8 month ago) The design uses 1024kb per salsa core (which is of-cause implemented in internal BRAM) , when you can implement a design in a FPGA, then is there not too far to a ASIC design (at least the functional part is done). If you speed up the clock on this design and implement a lot of cores, then do you have a pretty descent scrypt asic, the amount of logic needed is not insanely high. |
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I am still interested.
I think what is holding people back is your are relatively limited trust history.
I have read the thread on your other GB that you are hosting, everything looks nice and dandy, however it is not hashing yet (KnC Saturn Neptuns), right?
Can you tell a little more about the mining-farm that you are running, maybe post some pictures.
Also relevant to ask, have you been ID'ed by anyone?
Best wishes,
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Nice work, when is the full movie planned to be released?
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Can't withdraw btc. Error
Do you have a pop-up blocke active or did you manually change the URL? Why fixing this issue is taking so long? I have the same problem... I send both email and PM to Kumala 03/19... still no respond  |
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Vircurex made this announcement today:
21 Mar 2014 - BTC and LTC withdrawal suspended NEW
Issues with BTC and LTC withdrawals are being addressed.
Where is this message shown? I see it, just after log-in at the main page, under "Announcements" (big letters). |
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I still have 0.13876885 BTC stuck since Wednesday  |
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Vircurex made this announcement today:
21 Mar 2014 - BTC and LTC withdrawal suspended NEW
Issues with BTC and LTC withdrawals are being addressed.
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Personally I was close to getting a bunch of gridseed, but my spider-senses is saying the the difficulty for LTC will explode in the summer  |
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I am not suggesting anything and not connected in any way with the chinese gridseed but these are available on ebay with paypal so initial purchase can be done...I am actually thinking to go for it but on the other hand with todays difficulty ROI is very long 200 euro cost and about 30 monthly income excluding electricity???
studio1one, is pretty successful in importing them to EU, you should talk to him unless you really need a lot, he is reselling them at £145. |
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Has anyone had any news or communication from Vircurex about withdrawals?
I can't withdraw LTC or BTC and no answer from Kumala, although it has been less than 24 hours since I PMed him.
Not yet, still pending for an answer/resolution. |
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I agree, until yesterday I never had one single problem with Vircurex - I have even recommended Vircurex to a bunch of people.
I still hope to have my issued solved. Nevertheless it is very disturbing that there is no support from Vircurex.
I have 0.13876885 BTC stuck - the amount was to pay for my miners electric bill.
GPU's are not free to run 24/7 where I live.
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Anytime i want to withdraw BTC from Vircurex, i get an error that tells me the wallet is offline. Is there any problem with it?
I had a problem just now as well, 0.13 BTC is stuck, show as a redraw but there is no tx id. Hope things will be fixed soon :/ Is LTC still stuck there as well (I can't test because I already pulled everything out)? If so that would be 8 or 9 straight days of no LTC in the hot wallet and now BTC is empty? Not a good sign. Anyone try sending a PM Kumala, I didn't have any luck with the support email last week. I have send both PM and email, no answer... getting pretty tired of loosing bitcoins :/ We haven't seen other people reporting not receiving BTC, so your problem is hopefully an isolated incident, which should be easy to solve. If the exchange keeps a record of withdrawal activities, cryptos can't be lost. They are either in the sender's wallet or in the receiver's. I hope you are right. I will post here if I have any updates on the issue. |
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Some weird stuff going on yesterday at https://blockchain.info/I was tracking an small transactions, the status went between unconfirmed and confirmed, pretty much toggled each time I hit F5. |
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