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Author Topic: Bitcoinwallet used by 2 people at the same time.  (Read 1756 times)
1337leet
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February 23, 2016, 02:29:07 PM
 #1

Hey guys,

I want a Bitcoin wallet that can be used by 2 people at the same time.
Something like a bank account that can be used by you or your wife.

It''s something like a business account for me and my business partner.
We both need access to this wallet.
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February 23, 2016, 02:31:34 PM
 #2

You can share a brainwallet/seed with whoever you want. You can also use a wallet file from Bitcoin Core on different installs (as long as you either do offline transactions only or send the file back and forth between you and your partner)
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February 23, 2016, 02:33:38 PM
 #3

Hey guys,

I want a Bitcoin wallet that can be used by 2 people at the same time.
Something like a bank account that can be used by you or your wife.

It''s something like a business account for me and my business partner.
We both need access to this wallet.

The easyest way would be to use electrum:
Generate a new wallet yourself, send your partner the complete seed and let him recreate your wallet from seed on his pc.
Next, install plugin "labelsync" and force import/export the labels you created Smiley

The wallet can even be opened two places at once...

1337leet
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February 23, 2016, 02:39:54 PM
 #4

It just came to my mind that I can just create a new wallet on a "website" that we can share.
I know this exists for Monero, is it also available for Bitcoin?
mocacinno
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February 23, 2016, 02:41:59 PM
 #5

It just came to my mind that I can just create a new wallet on a "website" that we can share.
I know this exists for Monero, is it also available for Bitcoin?

it is available, for example on blockchain.info, but online wallets are not secure.... I would never advise anybody to open an online wallet!

shorena
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February 23, 2016, 04:13:44 PM
 #6

Correct me if i am wrong but i believe if you both download the same desktop wallet and share your privet keys with each other both wallets should be the same but i dont think they can be both online at the same time.

Depends on the wallet, not all of them work the same. Regardless of the wallet I dont see a reason why they should not be "online" (I assume you mean running the wallet with this) at the same time.
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February 23, 2016, 04:39:55 PM
 #7

Coinbase may be a good option for you.  You can both be logged in from different computers and your balance will update in real time to show activity done by one or the other.  You can also have multiple wallets set up for various things.


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shorena
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February 23, 2016, 05:53:37 PM
 #8

Correct me if i am wrong but i believe if you both download the same desktop wallet and share your privet keys with each other both wallets should be the same but i dont think they can be both online at the same time.

Depends on the wallet, not all of them work the same. Regardless of the wallet I dont see a reason why they should not be "online" (I assume you mean running the wallet with this) at the same time.

Sorry i meant could both wallets be online at the same time? So once they receive bitcoins both wallets get notifications or does one unsync while one stays online?

Who would determine that? There is no central authority that would disconnect one wallet and keep the other online. Chances are very high that both are connected to different nodes (assuming SPV or full node wallets) or servers (electrum) anyway.

Other wise multi spending could happen?

Sure it could, but that would be even more likely if one wallet was offline when the other created a TX and come online before the TX was confirmed. When both are online they know about the TX the other creates within seconds. To keep them in sync (in terms of keys) a HD wallet is a must IMHO.
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February 24, 2016, 06:25:36 AM
 #9

--snip--
Who would determine that? There is no central authority that would disconnect one wallet and keep the other online. Chances are very high that both are connected to different nodes (assuming SPV or full node wallets) or servers (electrum) anyway.
--snip--

^^ this is why i specifically proposed electrum. I know for a fact that it's possible to have two electrum wallets open at the same time... I do it all the time. Just leave my wallet open at the office, and still open this wallet (generated from the same seed) at home for a quick peek in case i expect some payment.
With the labelsync it's even easy to synchronise your labels between home and office (or in OP's case, between him and his partner).

Offcourse, there is a minimal chance both the OP and his partner generate a transaction with the same inputs at the same time. In this case, i suppose one of the transactions is included in a block, the other one is cancelled. Eventough the chance is really small, i suppose the OP and his partner would have to double check their transactions after 30 minutes to see if they went trough...

LFC_Bitcoin
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February 24, 2016, 01:08:06 PM
 #10

it is available, for example on blockchain.info, but online wallets are not secure.... I would never advise anybody to open an online wallet!

They're ok for leaving small 'ish' amounts in for every day spending but you should never leave a decent amount of bitcoin's on an online service where you're not the sole owner of your private key(s).

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February 24, 2016, 01:20:36 PM
 #11

Hey guys,

I want a Bitcoin wallet that can be used by 2 people at the same time.
Something like a bank account that can be used by you or your wife.

It''s something like a business account for me and my business partner.
We both need access to this wallet.
absolutely . YES it could be done. just have to install the same seed of a wallet on 2 computers , on for bitcoin core, using the same wallet.dat on 2 different computers ( ore more ..)
mocacinno
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February 24, 2016, 01:26:02 PM
 #12

Hey guys,

I want a Bitcoin wallet that can be used by 2 people at the same time.
Something like a bank account that can be used by you or your wife.

It''s something like a business account for me and my business partner.
We both need access to this wallet.
absolutely . YES it could be done. just have to install the same seed of a wallet on 2 computers , on for bitcoin core, using the same wallet.dat on 2 different computers ( ore more ..)

just out of curiosity: if you use the same wallet.dat on two different computers, won't this cause any problems?
I tought that bitcoind (or bitcoin-qt) would generate new private keys for change addresses. I read somewhere that there were a couple addresses pre-generated, but when they run out, new addresses get generated automatically.

In this case, the OP and his partner would start out with the same private keys in their wallets, but after a while, their wallets wouldn't be the same anymore... Is this correct?

defcon23
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February 24, 2016, 01:34:34 PM
 #13

Hey guys,

I want a Bitcoin wallet that can be used by 2 people at the same time.
Something like a bank account that can be used by you or your wife.

It''s something like a business account for me and my business partner.
We both need access to this wallet.
absolutely . YES it could be done. just have to install the same seed of a wallet on 2 computers , on for bitcoin core, using the same wallet.dat on 2 different computers ( ore more ..)

just out of curiosity: if you use the same wallet.dat on two different computers, won't this cause any problems?
I tought that bitcoind (or bitcoin-qt) would generate new private keys for change addresses. I read somewhere that there were a couple addresses pre-generated, but when they run out, new addresses get generated automatically.

In this case, the OP and his partner would start out with the same private keys in their wallets, but after a while, their wallets wouldn't be the same anymore... Is this correct?
  no, that's not cause any problems ( as i know)   when you do a transaction on a computer it apears on the second one .... thats' all
shorena
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February 24, 2016, 03:49:20 PM
 #14

Hey guys,

I want a Bitcoin wallet that can be used by 2 people at the same time.
Something like a bank account that can be used by you or your wife.

It''s something like a business account for me and my business partner.
We both need access to this wallet.
absolutely . YES it could be done. just have to install the same seed of a wallet on 2 computers , on for bitcoin core, using the same wallet.dat on 2 different computers ( ore more ..)

just out of curiosity: if you use the same wallet.dat on two different computers, won't this cause any problems?
I tought that bitcoind (or bitcoin-qt) would generate new private keys for change addresses. I read somewhere that there were a couple addresses pre-generated, but when they run out, new addresses get generated automatically.

In this case, the OP and his partner would start out with the same private keys in their wallets, but after a while, their wallets wouldn't be the same anymore... Is this correct?
 no, that's not cause any problems ( as i know)   when you do a transaction on a computer it apears on the second one .... thats' all

mocacinno is correct. Bitcoin core should not be used across different machines with the same wallet.dat. It has (by default) 100 private keys and addresses pregenerated for you. If one address is used (e.g. for change) a new is generated to keep the pool of keys at 100. The new one is generated randomly and will be different for both computers. Thus the files are quickly out of sync and need to be manually kept in sync in order to avoid lost coins.
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February 24, 2016, 04:52:15 PM
 #15

- snip -
for bitcoin core, using the same wallet.dat on 2 different computers ( ore more ..)

Is a good way to loose money.  Many people that have tried this in the past without understanding the complexities of the decision have permanently lost bitcoins.

Please do not give advice if you don't know what you're talking about.  New users might actually believe you and lose large amounts of money because of the horrible advice you've given.

- snip -
just out of curiosity: if you use the same wallet.dat on two different computers, won't this cause any problems?
I tought that bitcoind (or bitcoin-qt) would generate new private keys for change addresses. I read somewhere that there were a couple addresses pre-generated, but when they run out, new addresses get generated automatically.

In this case, the OP and his partner would start out with the same private keys in their wallets, but after a while, their wallets wouldn't be the same anymore... Is this correct?

That is correct.

no, that's not cause any problems ( as i know)   when you do a transaction on a computer it apears on the second one .... thats' all

You are incorrect.  As I said:

Please do not give advice if you don't know what you're talking about.  New users might actually believe you and lose large amounts of money because of the horrible advice you've given.

Bitcoin core should not be used across different machines with the same wallet.dat. It has (by default) 100 private keys and addresses pregenerated for you. If one address is used (e.g. for change) a new is generated to keep the pool of keys at 100. The new one is generated randomly and will be different for both computers. Thus the files are quickly out of sync and need to be manually kept in sync in order to avoid lost coins.

Thank you shorena for helping to educate the newbies that might have mistakenly believed defcon23

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February 24, 2016, 05:41:27 PM
 #16

If I were you, I'd create a multisig wallet so that your partner has to specifically ask you or vice versa to accept any transactions...

I have been hacked. I have changed my password. I will not trade unless i give a signed message. I have not sebt any messages or threads since the 6th of July. Be cautious when trading with anyone from this account. I will not be trading until the 20th of the following month
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February 24, 2016, 09:19:41 PM
 #17

If I were you, I'd create a multisig wallet so that your partner has to specifically ask you or vice versa to accept any transactions...

That's what I was going to say.

Saying that you don't trust someone because of their behavior is completely valid.
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February 25, 2016, 07:09:51 AM
 #18

If I were you, I'd create a multisig wallet so that your partner has to specifically ask you or vice versa to accept any transactions...

That's what I was going to say.

^^ This is an even better idear... Would it be possible to make a 3-party multisig wallet requiring 2 signatures? That way, you could give an official notary the third signature in case of a death/legal issues???
I'm just trying to learn about multisig myself, i have little knowledge about how this technically works Smiley

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February 27, 2016, 10:26:29 AM
 #19

You could do that, its very easy.

Just you import the private key into online wallet like blockchain wallet, and at the same time, tell your partner to create another blockchain wallet, and import same key.

So both will have access to same address.

How hard it is?
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February 27, 2016, 01:10:36 PM
 #20

I didn't understand something.
 If i have core wallet with full blockchain synchronized, i could insert wallet1.dat send some coins..
Then backup wallet1 and insert wallet2.dat without any consequences.
This way i can have as much wallets as i like?
If i forget to return wallet.dat, wallet will create new wallet.dat .
What do you say?

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