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Author Topic: How to generate a new private key for BitcoinSpinner  (Read 687 times)
bluemonkmn (OP)
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December 04, 2012, 12:11:56 PM
 #1

I would post in the BitcoinSpinner forum/thread, but I'm a noob so I can only post here. I just got started using Bitcoin last week and have been making very small transactions (I have less then .02 BTC still) until I can manage to get verified on Dwolla and MtGox. I have wallets set up on my Nexus 7 (with BitcoinSpinner) and on my PC desktop with bitcoin v0.7.1 (full block chain history downloaded finally). Meanwhile I have imported the private key of my BitcoinSpinner app onto my PC and into MtGox, which was apparently a mistake because it appears that any BTC that goes into a private key that has been imported into MtGox they seem to freely transfer to accounts owned by MtGox that I can't fully control. So now any bitcoin transfers that go to my BitcoinSpinner address automatically leave the "device" and go into MtGox (still in my MtGox wallet at least, thank goodness, but not under a private key I know). I'd like to be able to generate a new private key for my device, but I don't see a way to do it. Do I have to un-install and re-install in order to do that (would that work)? BitcoinSpinner is kind of useless if any funds I put into it will get automatically mysteriously transferred out at an unknown time, leaving my Nexus 7 with access to 0 BTC.
ThomasV
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December 04, 2012, 12:47:42 PM
 #2

I would post in the BitcoinSpinner forum/thread, but I'm a noob so I can only post here. I just got started using Bitcoin last week and have been making very small transactions (I have less then .02 BTC still) until I can manage to get verified on Dwolla and MtGox. I have wallets set up on my Nexus 7 (with BitcoinSpinner) and on my PC desktop with bitcoin v0.7.1 (full block chain history downloaded finally). Meanwhile I have imported the private key of my BitcoinSpinner app onto my PC and into MtGox, which was apparently a mistake because it appears that any BTC that goes into a private key that has been imported into MtGox they seem to freely transfer to accounts owned by MtGox that I can't fully control. So now any bitcoin transfers that go to my BitcoinSpinner address automatically leave the "device" and go into MtGox (still in my MtGox wallet at least, thank goodness, but not under a private key I know). I'd like to be able to generate a new private key for my device, but I don't see a way to do it. Do I have to un-install and re-install in order to do that (would that work)? BitcoinSpinner is kind of useless if any funds I put into it will get automatically mysteriously transferred out at an unknown time, leaving my Nexus 7 with access to 0 BTC.

BitcoinSpinner uses a type 2 deterministic wallet.
You should never import a private key from a type 2 deterministic wallet into a third party service, such as mtgox.
I think the BitcoinSpinner app should warn users against that.

Electrum: the convenience of a web wallet, without the risks
bluemonkmn (OP)
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December 04, 2012, 01:58:48 PM
Last edit: December 04, 2012, 02:27:44 PM by bluemonkmn
 #3

Is there any recourse once this has happened other than:
1. Un-install BitcoinSpinner from the device and never again use that device with bitcoin transactions OR
2. Delete my MtGox account?

P.S. I'm trying to work my way through all my mistakes now before I put any real money into any wallet, so I hope you understand that yes, I am aware I made a mistake, but I want to know how to "start over" and not make this mistake any more. Any further advice you can offer to help me learn from my mistakes more quickly is appreciated... for example direct me to any articles about common pitfalls of installing the bitcoin app under Windows 7, or let me know if having imported my private key into that installation was also a mistake. I'm a bit overwhelmed by all the information available here; not sure where to start. The reason I was compelled to import the private key was to demonstrate to myself what I needed to "back up" in order to be able to access my bitcoin accounts if my Nexus 7 tablet were lost or stolen. Apparently the simple backup I had made was not good enough, or I couldn't figure out how to use it.
bluemonkmn (OP)
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December 07, 2012, 09:42:19 AM
 #4

I figured it out. I can simply go into the Apps list in the android device's Settings screen and clear all the data for that app. Then it will generate a new key for me next time I enter. (Of course you want to be sure your old key doesn't have any value before doing this, because you'll likely never get it back.)
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