So, I have a friend who wants to use Bitcoin, but does not have enough space for the ginormous blockchain. I have installed Electrum, but have some concerns:
Electrum does not appear to use wallet.dat. I have tried renaming my unencrypted electrum.dat to wallet.dat and using it with the Satoshi client, but that failed. If the electrum servers stop working, how would I be able to move my Electrum wallet to a Satoshi client, or is this impossible?
If need be, you can very easily export all of your electrum addresses in WIF format (which can easily be imported into the Bitcoin-Qt client, or other clients with WIF support) using the following command:
electrum -ak addressesIf that is impossible, doesn't that mean that I'm held hostage by the electrum client - that it will only be useful as long as its servers stay online?
Thanks for any understanding you can offer.
Servers are open source as well and anyone can set one up relatively easily. There is no "central" server or single point of failure.