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Author Topic: Coldcard, a couple of questions  (Read 149 times)
highfarmer (OP)
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February 24, 2021, 04:09:26 PM
 #1

Hi!

I recently got a ColdCard and I have created a new wallet with a seed based on rolling dice.
I am now thinking how I should continue. First of all, should I use Electrum, Wasabi or something else? What would you recommend? I am not planning to use it everyday or even once a month, more like hodl or maybe in a year or so. No plans on getting my own node or anything like that.

Then I am wondering, I have created a 24 word seed with dices and also my own keycode (4+4) so the wallet is created inside the coldcard. But I am now wondering, what is the function "Passphrase" for? The second option on the main screen.
It says something about making a new wallet. Is that necesarry? And what would be the words be used if I would like to importing in inside a complitly new wallet anytime in the future and I need seed words, should I use the 24 words I already have or the new words (I think it said it was 12 words on the new one on the passphrase menu).

Anything else you guys recommend?
And I have another question aswell, how could the coldcard create a new wallet without even having connection to the internet and the blockchain? Wouldn´t that be impossible? Or is it that it is not having been created yet, it is just there, ready to be used?
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February 24, 2021, 05:19:34 PM
 #2

what is the function "Passphrase" for? The second option on the main screen.
It is extra words, it can be multiple words.

It says something about making a new wallet. Is that necesarry?
If you use passphrase, another seed will be generated, this will lead to generation of different private keys and public keys and addresses. So, anytime you want to recover your wallet, you need the passphrase along with the seed phrase. Including passphrase during wallet generation is not necessary, but just for more security.

And what would be the words be used if I would like to importing in inside a complitly new wallet anytime in the future and I need seed words, should I use the 24 words I already have or the new words (I think it said it was 12 words on the new one on the passphrase menu).
Anyone you use, know that 12 words seed phrase is even enough for wallet protection, provided not revealed to attackers. The passphrasee just make it more secure so that if the seed phrase is known to attackers without knowing the passphrase, the attackers will still not be able to compromise the wallet, but if the seed phrase is not known to attackers on wallets passphrase is not enabled, the attacker can not still bruth force the private key of the wallet which means it is still safe too. So, it depends on your choice.

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highfarmer (OP)
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February 24, 2021, 06:20:45 PM
 #3

what is the function "Passphrase" for? The second option on the main screen.
It is extra words, it can be multiple words.

It says something about making a new wallet. Is that necesarry?
If you use passphrase, another seed will be generated, this will lead to generation of different private keys and public keys and addresses. So, anytime you want to recover your wallet, you need the passphrase along with the seed phrase. Including passphrase during wallet generation is not necessary, but just for more security.

And what would be the words be used if I would like to importing in inside a complitly new wallet anytime in the future and I need seed words, should I use the 24 words I already have or the new words (I think it said it was 12 words on the new one on the passphrase menu).
Anyone you use, know that 12 words seed phrase is even enough for wallet protection, provided not revealed to attackers. The passphrasee just make it more secure so that if the seed phrase is known to attackers without knowing the passphrase, the attackers will still not be able to compromise the wallet, but if the seed phrase is not known to attackers on wallets passphrase is not enabled, the attacker can not still bruth force the private key of the wallet which means it is still safe too. So, it depends on your choice.

Thanks for the answer!

Lets say that my Coldcard gets broken or lost or something and I need to import the seed somewhere else, would that still be possible if I use this passphrase-thing?
Am I more dependent on the ColdCard if I use this one?

By the way, do you know if you can have multible wallets on one coldcard?
Myleschetty
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February 24, 2021, 06:29:26 PM
 #4

Hi!

I recently got a ColdCard and I have created a new wallet with a seed based on rolling dice.
I am now thinking how I should continue. First of all, should I use Electrum, Wasabi or something else? What would you recommend?
I will recommend Electrum wallet through their official website https://electrum.org/#download but make sure you created and generate the wallet seed to an airgap computer.


Then I am wondering, I have created a 24 word seed with dices and also my own keycode (4+4) so the wallet is created inside the coldcard. But I am now wondering, what is the function "Passphrase" for?
Passphrase is password alike and it is used to added more security to your wallet.

The second option on the main screen.
It says something about making a new wallet. Is that necesarry? And what would be the words be used if I would like to importing in inside a complitly new wallet anytime in the future and I need seed words, should I use the 24 words I already have or the new words (I think it said it was 12 words on the new one on the passphrase menu).
It not necessary to make a new wallet and what you need to import the wallet addresses you create through dice rolling is the seed words but electrum only use 12 words.


Anything else you guys recommend?
And I have another question aswell, how could the coldcard create a new wallet without even having connection to the internet and the blockchain? Wouldn´t that be impossible? Or is it that it is not having been created yet, it is just there, ready to be used?
I am not aware of the wallet but it seems to be a hardware wallet and it possible to create wallet without connect to the internet. Besides, is the secure way to create wallet.
You can not use the coldcard to create new wallet what you can use the same wallet on electrum by importing it.
highfarmer (OP)
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February 24, 2021, 08:24:00 PM
 #5


It not necessary to make a new wallet and what you need to import the wallet addresses you create through dice rolling is the seed words but electrum only use 12 words.


Thank you! But what if I need to import it inside Electrum and they only uses 12 words when I have 24 words, how is it possible to import it then?
highfarmer (OP)
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February 24, 2021, 08:26:58 PM
 #6

I am getting a little bit nervous because I don´t have my own node. It is expensive and seems to difficult for me but I am thinking about if it is a good idea to import the wallet skelleton-file (even if it is just that, no seeds or anything). May this hurt me or putting me in danger? What is the worst case scenario here?
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February 24, 2021, 08:36:15 PM
 #7


It not necessary to make a new wallet and what you need to import the wallet addresses you create through dice rolling is the seed words but electrum only use 12 words.


Thank you! But what if I need to import it inside Electrum and they only uses 12 words when I have 24 words, how is it possible to import it then?

There is a setting in Electrum that enables you to input additional words, beyond the 12 that are the default format for a seed with Electrum.





I am getting a little bit nervous because I don´t have my own node. It is expensive and seems to difficult for me but I am thinking about if it is a good idea to import the wallet skelleton-file (even if it is just that, no seeds or anything). May this hurt me or putting me in danger? What is the worst case scenario here?

Why does not having your own node make you nervous ?
A Bitcoin node is merely a fully synced Bitcoin Core wallet. (with the 300+ GB of blockchain data (is certainly more today, around 350 from the top of my head))

If you want, you can even host an Electrum server so it connects to your local Bitcoin node.

What matters with Bitcoin is who has the control of private keys.
About the node matter, Bitcoin is censorship resistent so if you simply broadcast your transaction to the network, or broadcast it through your node, it won't make much difference.
highfarmer (OP)
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February 24, 2021, 08:44:50 PM
 #8


It not necessary to make a new wallet and what you need to import the wallet addresses you create through dice rolling is the seed words but electrum only use 12 words.


Thank you! But what if I need to import it inside Electrum and they only uses 12 words when I have 24 words, how is it possible to import it then?

There is a setting in Electrum that enables you to input additional words, beyond the 12 that are the default format for a seed with Electrum.





I am getting a little bit nervous because I don´t have my own node. It is expensive and seems to difficult for me but I am thinking about if it is a good idea to import the wallet skelleton-file (even if it is just that, no seeds or anything). May this hurt me or putting me in danger? What is the worst case scenario here?

Why does not having your own node make you nervous ?
A Bitcoin node is merely a fully synced Bitcoin Core wallet. (with the 300+ GB of blockchain data (is certainly more today, around 350 from the top of my head))

If you want, you can even host an Electrum server so it connects to your local Bitcoin node.

What matters with Bitcoin is who has the control of private keys.
About the node matter, Bitcoin is censorship resistent so if you simply broadcast your transaction to the network, or broadcast it through your node, it won't make much difference.


Thanks!
So I just need to check that option and then input my 24 words? Of course no plan to try it because that would kind of lose the meaning with this coldcard thing but good to know!

You mean that it is not considerd dangerous to use the node electrum is giving you? I thought it might lead to that other people could see my IP adress and attack me or something, but on the other hands, as long as they don´t know my seeds that is not much hurt they can do to you?
And they can not kidnapp the transactions or anything like that?
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February 24, 2021, 08:53:23 PM
 #9

So I just need to check that option and then input my 24 words? Of course no plan to try it because that would kind of lose the meaning with this coldcard thing but good to know!

Yes.

If you want to try out, you can generate a seed on this page : https://iancoleman.io/bip39/

That way you can try things out without compromising your funds. Smiley


You mean that it is not considerd dangerous to use the node electrum is giving you? I thought it might lead to that other people could see my IP adress and attack me or something, but on the other hands, as long as they don´t know my seeds that is not much hurt they can do to you?
And they can not kidnapp the transactions or anything like that?

The most extent someone can go with this setup is :

If your Electrum connects only to the same Electrum server all the time, if this Electrum server operator are malicious, then they can roughly know the country where you are located and yes, recoup that someone spent x transactions, totalling x BTC, from that specific IP. The use of a VPN counters that.
By default, Electrum connects to servers randomly.

If you inadvertedly catch some sort of malware, even in this case your funds are safe.
(You are safe by using the Coldcard as I believe all transactions are signed on the card itself.)

Don't keep a digital version of your seed, that's all.

Apart from that, there is not much one can do with someone else's IP.
To attack you means that you have machines with open ports that are listening for inbound traffic on that very specific IP.

Given your questions; (no judgement at all, I encourage everyone to get help and educate themselves)
I doubt this is your case.

Also, it's not possible to "kidnap the transaction" since you attach to it the cryptographic proof that you are in control of the BTC addresses you spend from.
That proof cannot be forged, and only the person in possession of the key can generate a valid proof.
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