It is possible to receive bitcoins without having the private key. You just need the address. You can store large amounts of pre-generated addresses in a database and hand them out one by one or you can generate them deterministically. However, to spend bitcoins you need the private key to sign the transaction. No way around that. People try various arrangements like a dedicated transaction signing server behind a firewall. It's not exactly budget friendly for small operations. |
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Open the "Used" arrow in the Receiving list.
Bitcoin addresses are not supposed to be re-usable, that's why it hide the used and empty ones.
This kind of freaked me out first, time too... any chance it can come up not hidden in the new builds until the user selects? Re-use of new addresses is a user choice and disappearing your blog deposit address is not appropriate.  You can try making an issue on github: https://github.com/spesmilo/electrum/issuesI found this which is sort of related: https://github.com/spesmilo/electrum/issues/512Also you should compare this with the new Bitcoin-qt 0.9.0 receive tab which is what gmaxwell is talking about in the last comment there. |
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I like the electrum compatibility but I am not sure about the RNG (RC4) you are using. I would not advice using wallets based on passphrases generated by this site just yet.
Also there are some UI bugs. When you logout you can't log back in. It gets stuck on the open wallet progress bar.
The open wallet button also remains disabled until you press a key while the text field has focus. For example if you copy paste a passphrase instead of typing it out.
The way the UI is structured around the open wallet area is also confusing. It makes it look like we are supposed to enter a human generated passphrase. I suggest hiding the text field until you choose to open an existing wallet.
This is for the security. You can't open the Wallet with copy and paste you need to do Ctrl+V or write manual. The stuck on the progress bar is normal. The Browser try to download again the SoureCode, but you allready had a copy. Just refresh the Browser. We don't use RNG (RC4), how do you get on this It uses arcfour as prng? js/newtimes.js -> generatepassword() -> rng_get_bytes() extjs/bitcoin/rng.js -> rng_get_bytes () -> rng_get_byte() -> prng_new_state() extjs/bitcoin/prng4.js -> prng_new_state() creates arcfour object I am no expert so I think we should wait for a cryptologist to look at this. |
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I like the electrum compatibility but I am not sure about the RNG (RC4) you are using. I would not advice using wallets based on passphrases generated by this site just yet.
Also there are some UI bugs. When you logout you can't log back in. It gets stuck on the open wallet progress bar.
The open wallet button also remains disabled until you press a key while the text field has focus. For example if you copy paste a passphrase instead of typing it out.
The way the UI is structured around the open wallet area is also confusing. It makes it look like we are supposed to enter a human generated passphrase. I suggest hiding the text field until you choose to open an existing wallet.
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Hold on. Your Bitcoins are not at my Wallet there are in you PC. I generate nothing
You are using javascript. There is no reason on the planet for anyone to use javascript. Period. It's a steaming pile of shit with a bazillion known vulnerabilities and more found daily. No. JavaScript is secure. You made me laugh. You are confusing Java with Javascript. Javascript is not related to Java in any way. Almost every website on the web uses javascript in some form or the other. For example, this forum. |
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No you need the private key to spend the bitcoins. The address is useless without the private key. If bitcoins were sent to it in the past those bitcoins are now irretrievably lost. If bitcoins are sent to it in the future they will also be unspendable.
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Online wallets, even the ones managed by professionals, have a history of getting hacked. With that said you can look into coin punk and brain control. Both have open source versions http://coinpunk.org/braincontrol.me |
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After 03/24/2014, if 1BitcoinEaterAddressDontSendf59kuE has at least 2000 millibits, 1 public key from the first 2-of-4 address will be revealed, and 2 public keys from the second address. Alice will be able send all 20 millibits to her own address.
What prevents Bob, or anyone with knowledge of the redemption script, to quickly move 10 of the millibits before Alice can do so, as soon as realitykeys reveals two of the keys? Good question. The 4 public keys of the first address are: I think VTC is asking about the 2nd address in that scenario - the one bob funded. He can move his bitcoins before alice finds out the keys have been revealed. |
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Armory also has it in the todo list. It's expected within months since last year  LOL yeah! I remember Reiner saying that in an LTB podcast. TBF he did say it was difficult to include that in the GUI in a user friendly way. It might just happen with Electrum, though. Co-signing multi-sig transactions is how the Electrum developer plans to monetize his software. He's founded a startup around Electrum: 4. A 2-factor authentication service using multisig addresses is under development, that will be available in Electrum through a paying plugin. I made a demonstration of that service in Barcelona last fall, during the meeting organized by genjix. I am now working with lawyers, in order to define the terms of use for that service. https://bitcointalk.org/index.php?topic=427617.0 |
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Thank you edlund. There is just one thing. 2 of 4 and 3 of 6 addresses are not "standard". I read that people have difficulty spending from such addresses. 3 public keys seems to be the maximum number that is widely supported. There is a discussion here: https://bitcointalk.org/index.php?topic=508256.0 |
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Hello!
Simply question: I want to make a backup on a USB stick in case my hard drive crashes. Do I simply copy the default_wallet file (I have linux) to the USB stick?
Cheers and thanks for your replies.
In the past I've found that copying the wallet file using the operating system file explorer did not create a proper backup. So I suggest using the backup method built into Electum i.e. run electrum and use file menu > save copy to save the file to a USB drive. |
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Maybe it's a permissions issue. Anyway if you don't use the config file have you tried deleting it?
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This is something for you to consider after you've used electrum for a few days: I should like to add that regarding 1) above you may have to raise the gap limit for your electrum "merchant" wallet to see some payments. Think of the gap limit as how many addresses forward electrum looks for for transactions. By default it looks for 5 addresses since the last address where you received money. For a merchant wallet you may want to increase it to something like 75 or 100. To change it switch to the console tab and type the following: wallet.storage.put( 'gap_limit', 75 )
Then exit and reopen electrum. |
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Great explanation. Thank you!
Is keeping a significant amount of BTC (50+ BTC) in Electrum safe enough, or do you recommend that I print them out to physical paper wallets?
For a large amount of bitcoins you should use an offline electrum wallet. It is superior to a paper wallet because you get unlimited addresses and other features that come with a full fledged wallet. There is a guide for this on the electrum site but this is not a setup for a newbie. First get comfortable using electrum then try for an offline setup. |
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What is an energy company? I thought it was a utility company or an oil company but it's neither.
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Now are you saying the Bitcoins sent to this address cannot be spent? I'm a bit confused...
Knowledge of the private keys (private not public) determines bitcoin ownership. *You* can spend the bitcoins because you have the bitcoin wallet running on your computer. That wallet file has, among other things, the seed from which all your bitcoin private keys are derived. Installing the MPK on your web server allows your WP installation to independently generate addresses without risking your bitcoins in the event of a server compromise. You cannot generate the private keys behind the addresses with just the MPK therefore your bitcoins cannot be stolen. |
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