Don't use tails because it has an old version of electrum that has trouble synching with servers. Use a debian live CD and install the latest electrum on it as per the instructions on electrum.org/#download i.e. using pip3.
The cold wallet will not be syncing with servers anyway, because the system will never be online. The only potential problem may be with wallet, seed or signature formats, not with server connections. |
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TailsOS with electrum as cold storage is a perfect idea, I use it for my coins too. Furthermore, I like the "watch wallet" function which I use on my phone.
Yes, that's very convenient. The only downsides are that up to now you canīt use segwit and if there is a newer version of tails, you will have to install the update manually, because there are no over the air updates.
Tails system is never going to be online anyway, so manual update is perfectly suitable. |
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AltCom was not affected by BTC rises in the past, just some guy who didn't believe in the project anymore and dumped his 700+ coins on whatever was available on the buy side.
That's what I thought about seeing that sharp drop. Trading volume is quite low, so it's no surprise that dumping 700 coins crashed the price. Let's hope for recovery... |
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Thanks. So you even deleted everything and kept the seed only? That's right, there is probably no reason to backup the wallet. |
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I use a similar method using a Raspberry Pi instead, for cold storage. As long as you keep safe your seed you can always create the wallet in a newer version of Electrum or a future Tail version being sure that it will be working. I'm looking at Tails ( https://tails.boum.org/) to make an offline wallet as described here: http://docs.electrum.org/en/latest/coldstorage.html) for some BTC. Tails system has Electrum included, but the version is a year old, 2.7.9. I have successfully created an offline wallet, exported public key and made a watching-only online wallet on my main system. It seems to be working, but are there any potential problems with using an old Electrum version? Obviously, at some time in the future I will want to move the coins from it. Will the described procedure (create an unsigned transaction, sign, broadcast) work or will I have to recreate the wallet using the seed? Raspberry Pi for cold storage? Interesting idea. Which OS do you use? I also have an old Raspberry Pi (model B) somewhere in my desk drawers. |
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Bitcoin Price Tears Beyond $9,750 - Setting the new record all-time high.That's probably it, bitcoin is making us money from thin air... Bitcoin is making us rich doing nothing literally  Do you agree with me? share your thoughts Well, this year has indeed shown that the best thing one can do with bitcoin is to do nothing, at least for now. |
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Maybe. It's less than 3x from the current price, so it's not impossible. However, I do not think that there will be two consecutive years with a rise for an order of magnitude, like in 2017.
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I'm looking at Tails ( https://tails.boum.org/) to make an offline wallet as described here: http://docs.electrum.org/en/latest/coldstorage.html) for some BTC. Tails system has Electrum included, but the version is a year old, 2.7.9. I have successfully created an offline wallet, exported public key and made a watching-only online wallet on my main system. It seems to be working, but are there any potential problems with using an old Electrum version? Obviously, at some time in the future I will want to move the coins from it. Will the described procedure (create an unsigned transaction, sign, broadcast) work or will I have to recreate the wallet using the seed? It should work fine for you. Any bugs should be deleted by the fact it's not online. As long as you use a higher version on your computer. One thing to consider, you won't be able to use segwit as those transactions are signed differently. Obviously if you can update the wallet, you should always try to, but if you want to keep your operating system fully sandboxed then that might not be an option as you'll either need the Internet directly or have to place an executable directly onto the sandboxed machine. I'm aware of Segwit, but it is going to be a wallet for (relatively) long-term holding, not spending, so it should not be a problem. Current fees and transaction times are worrisome, however. As for updating, it is possible to update Tails to a never version, with all included software, using an ISO image. The image should be downloaded and verified on a "hot" system. |
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There certainly will be a correction. I suspect that some will even call it a crash, but it will not be a real crash. The volatility of bitcoin seems to be decreasing and I doubt that there will be a large 30-40% correction, as before. But the fall from the current level to, say, $7500 would not surprise me. Another question is the level from which the correction will start. Such sharp spikes are completely unpredictable. The correction may start right now or after breaking $10k. Nobody knows.
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I'm looking at Tails ( https://tails.boum.org/) to make an offline wallet as described here: http://docs.electrum.org/en/latest/coldstorage.html) for some BTC. Tails system has Electrum included, but the version is a year old, 2.7.9. I have successfully created an offline wallet, exported public key and made a watching-only online wallet on my main system. It seems to be working, but are there any potential problems with using an old Electrum version? Obviously, at some time in the future I will want to move the coins from it. Will the described procedure (create an unsigned transaction, sign, broadcast) work or will I have to recreate the wallet using the seed? |
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I think Bittrex is better, although I do not use it much. Etherdelta is for ERC20 tokens only. I use it for dumping some airdops because it is the only place where they are traded, but otherwise I avoid it whenever possible. It is very slow, sometimes orders simply do not appear, the interface is terrible, and bid/ask gaps are just ridiculous.
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Yes, in most cases (especially ICOs) I support it. Tokens often lose a significant part of their value after ICOs or are not available for trading for a long time. Of course, there are projects whose tokens rise in price several times, or projects offering interesting and promising coins as a reward (as in my current signature), but they are rare.
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Value is not created out of thin air - everytime a new crypto is launched it drains away value from the other cryptos including from Bitcoin.
Value is definitely not created out of thin air, but it does not mean that any new crypto takes all its value from existing cryptos. It may drain value from stocks, gold, USD, or any other form of investment, not from bitcoin. The loss until now is 55% and with a rapid increase in the amount of cryptos generated, both on their own and from forking Bitcoin, the inflation and degradation of value will continue
Many of newly generated cryptos are worthless. They can be created by thousands without any noticeable influence on major cryptos. |
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This is old news. Russian government does not want to ban bitcoin, they would like to regulate, license and tax (this seems to be the ultimate goal) exchanges and miners. And, AFAIR, it was just an opinion of a government official, not a legislative proposal.
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Just like heroin or crack cocaine, it creates an addiction.
Ah, a new thread to laugh upon in the morning, third day in a row! Yesterday bitcoin was used for funding North Korea nuclear program, am I right? I haven't bought much Bitcoin with physical money. All my Bitcoins come from mining and signature campaigns. I can't really say that I see why buying Bitcoin and watching the charts would be addictive. I just check the price once every day and that's it.
Same for me. Most of my coins were mined years ago and I almost forgot about them until this year. It was a pleasant surprise. |
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Is there even a remote possibility of an exploit?
Not that I know. I had both wallets open at the same time when I first spent my BCH and I my coins are still here. IMO, if there was any exploit or malware included in the Electron Cash fork, people would have known. That's good, thanks. I also have not heard about any existing exploits, but it one can never be too cautious with cryptocurrencies... |
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I think it should be completely safe to have both Electrum and Electron Cash on the same system, provided that the wallets, seeds and passwords are different, and the programs are never run simultaneously. But maybe I miss something? Is there even a remote possibility of an exploit?
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Yesterday bitcoin was a way to communism, now it is a source of funds for NK nuclear program. What will it be tomorrow?
Educate yourself. North Korea is communist No. First, yesterday you have given a more or less correct definition of communism. Is North Korea a stateless and moneyless society? Second, all mentions of communism were excluded from NK constitution in 2009. Let's put it in words you can recognize. Communism is Bitcoin. North Korea has adopted a fork of Bitcoin as their governing policy So a moneyless society (communism) is a form of money (bitcoin)? Something is wrong here |
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Yesterday bitcoin was a way to communism, now it is a source of funds for NK nuclear program. What will it be tomorrow?
Educate yourself. North Korea is communist No. First, yesterday you have given a more or less correct definition of communism. Is North Korea a stateless and moneyless society? Second, all mentions of communism were excluded from NK constitution in 2009. |
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Yesterday bitcoin was a way to communism, now it is a source of funds for NK nuclear program. What will it be tomorrow? These topics are becoming a source of a good laugh |
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