[...] op claimed that HD wallets are not good because s/he was confused about what the concept is [...]
Where did OP say that ?
Maybe learn to read properly ? ..
OR may be you need to learn it:
Thanks bob123 for such a great clarification.
yeah the issue is I've to generate separate address for each user and in case of ethereum the hd wallets doesn't works like bitcoin where we can just select UTXOs and make a transaction.
bob123 gives the most optimal solution
It is where she applauded your irrelevant answer ignorantly and stated that hd wallets are not usefull because they don't work just like bitcoin! Obviously our newbie has read something (this is what newbies do) but her conclusion is absolutely wrong so she is going to make like thousands of key pairs (thanks to you) and figuring out how to save them! Ruining a cryptocurrency project probably in a third world country (again thanks to you and your desperate need for being applauded)
You are just delusional.
Even with a HD wallet, you HAVE TO GENERATE multiple private keys (1 per address).
You obviously don't understand anything at all.. You DO NOT sign transactions with your SEED.. for gods sake.. better stop posting for a few years and learn all the basic stuff you don't know yet.
Stop your personal attacks!
1- GENERATING is irrelevant, to generate a key we need a piece of code and the master private key, so we don't need to save/keep track of the corresponding private keys for addresses we have assigned to our users who have made deposits/payments.
2- Accessing funds deposited by users is out of scopes of most online services, hence it is typically unnecessary to have the master private key stored on the server at all.
Stop spreading misinformation to justify your thirst for credit, you made a mistake I corrected it, user is now focusing on what I said instead of your bullshits about hot wallets and cold wallets.
Just stop it, otherwise I'll report your actions as personal attack and vandalism.
OP HAS TO generate multiple private keys.
A HD wallet just says HOW TO create them.. But you still need 1 per address.. Is that really that hard to understand ?!
The point is.. he wants to keep them SECURE.. not HOW he creates them..
generating keys is done with
a piece of code and a master public key no need to keep anything SECURE, there is no private key even one in the whole server to be saved and kept secure.
Even with a HD wallet, you have to handle all private keys.
Good (and big) online services do not use a wallet software like electrum etc. to handle their keys. They build their own software (which obviously have to handle private keys..).
Irrelevant:
Your scenario is not applicable to all online services, most of them does not even need any form of hot wallet
Misinformation:
They don't keep track of 'private key
s' there is just
one private key to be kept secure for the hot wallet and it is not common case and is applicable to centralized exchange services and similar applications that are supposed to support withdraw/refund operations.
In the rest of your post you are rehashing your above claims wasting your and my time.
I have never encountered such a large amount of nonsense in 1 person. You are a shame.
You can NOT SIGN transactions with your master private key.
You can derive your private keys from it, but you still need to use them to sign transactions..
So.. what do you do ? Create the private key, sign a transaction and delete it.. to 'not having to keep it'.. because of 'security' ?
Please stop being so delusional. Thats horrific. You don't have any clue on how to create a concept for an online service.
You probably can't even protect your own coins properly.
Nobody said to sign a transaction directly by your master private key but it is what happens indirectly:
1- User makes a deposit to an address that you've generated by your master public key online and assigned to him.
2- You decide to spend it for some reason
3- You run your wallet software, supplying your unique seed and the address you wish to spend from
4- Your software derives corresponding private and public key, generates the transaction, relays it to the network, erases the keys from the memory and you are done!
I know for a frustrated person who is desperately obsessed with his credit it is so hard to read and understand anything but try your best.
There is literally just 1 post from you which contains the truth:
I just filled all of the info and proved to be the foollest btctalk member ever. I think it worth like 500 merits from theymos directly, I deserve legendary title because of it.
It was April's fool joke and we had fun, it is how you read my posts as a stalker?
What's your IQ anyway?
EDIT:
It was more productive and helpful If you were arguing more politely and in a humble way, I think not only op but a lot of people who have not enough expertise in bitcoin and crypto technology have problems with keu management because they have no clue about how great HD wallets are. Most of these guys are very experienced in e-commerce and web application development and in most cases they simply need a simple integration of bitcoin as a payment system discussing hot/cold wallet issues with them is just wasting time and a distraction what they really need is a brief understanding of HD wallets.