Electrum 2.7.0

[ThomasV]

EDIT: There was no major issue with the release candidate, so here is the official release.
http://download.electrum.org

Release notes:
# Release 2.7.0 (October 2016)

 * The wallet file format has been upgraded. This upgrade is not
   backward compatible, which means that a wallet upgraded to the 2.7
   format will not be readable by earlier versions of
   Electrum. Multiple accounts inside the same wallet are not
   supported in the new format; the Qt GUI will propose to split any
   wallet that has several accounts. Make sure that you have saved
   your seed phrase before you upgrade Electrum.
 * This version introduces a separation between wallets types and
   keystores types. 'Wallet type' defines the type of Bitcoin contract
   used in the wallet, while 'keystore type' refers to the method used
   to store private keys. Therefore, so-called 'hardware wallets' will
   be referred to as 'hardware keystores'.
 * Hardware keystores:
   - The Ledger Nano S is supported.
   - Hardware keystores can be used as cosigners in multi-signature
     wallets.
   - Multiple hardware cosigners can be used in the same multisig
     wallet. One icon per keystore is displayed in the satus bar. Each
     connected device will co-sign the transaction.
 * Replace-By-Fee: RBF transactions are supported in both Qt and
   Android. A warning is displayed in the history for transactions
   that are replaceable, have unconfirmed parents, or that have very
   low fees.
 * Dynamic fees: Dynamic fees are enabled by default. A slider allows
   the user to select the expected confirmation time of their
   transaction. The expected confirmation times of incoming
   transactions is also displayed in the history.
 * The install wizards of Qt and Kivy have been unified.
 * Qt GUI (Desktop):
   - A fee slider is visible in the in send tab
   - The Address tab is hidden by default, can be shown with Ctrl-A
   - UTXOs are displayed in the Address tab
 * Kivy GUI (Android):
   - The GUI displays the complete transaction history.
   - Multisig wallets are supported.
   - Wallets can be created and deleted in the GUI.
 * Seed phrases can be extended with a user-chosen passphrase. The
   length of seed phrases is standardized to 12 words, using 132 bits
   of entropy (including 2FA seeds). In the wizard, the type of the
   seed is displayed in the seed input dialog.
 * TrustedCoin users can request a reset of their Google Authenticator
   account, if they still have their seed.

[OmegaStarScream]

I usually delete the old version (the whole thing) and install the new then use the seed to recover my wallet , is there is another way to upgrade when 2.7.0 is released ? taking the files from C:\Users\xxx\AppData\Roaming\Electrum\wallets should be enough or not ? and once again , thanks for your hard work , It's being sometime since a new release came out , I thought you dropped the project at some point.

[ThomasV]

I usually delete the old version (the whole thing) and install the new then use the seed to recover my wallet , is there is another way to upgrade when 2.7.0 is released ? taking the files from C:\Users\xxx\AppData\Roaming\Electrum\wallets should be enough or not ? and once again , thanks for your hard work , It's being sometime since a new release came out , I thought you dropped the project at some point.

Taking the files should be enough.
I usually advise people to make sure they saved their seed, just in case something goes wrong with the update.

This version required a lot of testing because of the wallet file upgrade, that's why it has been delayed so much.

[altcoinhosting]

Hi ThomasV,

Thanks for the new version, it runs smooth... I do have some remarks/questions:
- It might be a good idear to add the show/hide address tab in the preference dialog? I didn't find it at first, and only after re-reading your OP, i realised ctrl-A could be used
- I really liked the fact that i could manually set the fee in 2.6.x versions, the slider is nice, but it's not so fine-grained as completely manual setup
- I can't find the setting to enable/disable the dialog to view the transaction before signing it, and the setting to manually broadcast a transaction after signing it...

Sorry if the questions are dumb, i just looked at the new version for 10 minutes and these were my initial problems/questions...

Once again: love your software, it's a great help

[ThomasV]

- It might be a good idea to add the show/hide address tab in the preference dialog? I didn't find it at first, and only after re-reading your OP, i realised ctrl-A could be used

The function can be reached from the menu. The last status is remembered when you leave the app.

- I really liked the fact that i could manually set the fee in 2.6.x versions, the slider is nice, but it's not so fine-grained as completely manual setup

Disable dynamic fees and you'll have the manual setup.

- I can't find the setting to enable/disable the dialog to view the transaction before signing it, and the setting to manually broadcast a transaction after signing it...

It's been replaced by the 'preview' button in the send tab.


Thanks for your feedback. Tests have been runing smoothly so far, so the official release should happen soon.

[altcoinhosting]

Thanks for the answers, so far, all my questions were solved, and i was able to generate, sign and broadcast my transactions.
Since some settings and features are called in a different way in this version, it'll take a while to get used to them, but so far, every feature available in 2.6.x seems to be available in 2.7 (with some nice extra's like RBF)
I'll continue to run this version, and i'll give some feedback in case something goes wrong

[BitcoinNewsMagazine]

ThomasV does 2.7.0 still support use of passphrase hidden accounts when using Trezor like earlier versions?

[ThomasV]

ThomasV does 2.7.0 still support use of passphrase hidden accounts when using Trezor like earlier versions?

yes it does; did you encounter any issue with it?

[BitcoinNewsMagazine]

ThomasV does 2.7.0 still support use of passphrase hidden accounts when using Trezor like earlier versions?

yes it does; did you encounter any issue with it?

Thanks. Have not tried yet but will the comment in OP "Multiple accounts inside the same wallet are not supported in the new format" was a concern is all.

[Coin-Keeper]

Thomas,

Does this support use of Trezor with 64 bit Linux Debian?  Remember we had some small "glitches" there with 2.6.4.

Your software just basically rocks!!

[Coin-Keeper]

ThomasV does 2.7.0 still support use of passphrase hidden accounts when using Trezor like earlier versions?

I am really glad that Thomas said it supports those hidden accounts.  I use those for many different accounts on each Trezor!!


ps --- sorry for the double post here.  I thought I was editing!!!!

[ThomasV]

Thomas,
Does this support use of Trezor with 64 bit Linux Debian?  Remember we had some small "glitches" there with 2.6.4.
Your software just basically rocks!!

Well, you would need to try.
It works for me on linux 64 bits (ubuntu).

[ThomasV]

This is my experience with a Trezor @1.4.0, and MacOS Sierra @10.12 (tried both the Github python version, and the supplied binary from the DMG file, with the same results):

1.  Open Electrum with a standard default_wallet, as the last opened wallet.
2.  Select File -> Open option and select my Trezor wallet file
3.  Window appears telling me that I have multiple accounts in my Trezor and this is no longer supported - do I want to create multiple wallets ?   If the answer is no, the windows says "please wait" and nothing is happening - I can return to the default wallet window, but the "please wait" windows stays up and can't be closed unless Electrum is shut down.
4. If yes is selected, the multiple wallets are created (in the wallet sub-directory).  A new window appears requesting to delete the original file or not.  If no is selected, again, the "please wait" window stays up and it can't be shut down unless Electrum is shut down.  If yes, is selected, the file is deleted, and again, the "please wait" window stays up...

On OSX some windows do not open/close properly
See https://github.com/spesmilo/electrum/issues/1946
Check if it is solved by clicking on the dock icon.

5. If Electrum is shut down, and then re-started with again a default_wallet.  Opening one of the newly created Trezor accounts (with the extension XXX.0, or XXX.1, or XXX.2) will display correctly the individual Trezor account in a second window, and everything is back to normal afterwards.


EDIT1:

I did have a hard time to connect to any the servers after the upgrade - running the python version with verbose enabled, showed a lot of connection timeouts on servers that are known to be good and present (they show up at https://foundry.electrum.org/server-peer-hashes.txt) .  I deleted everything in the .electrum directory, including the blockchain_headers and certs sub-directory (except the wallet sub-directory) and it helped to start fresh.  Once the new blockchain_headers file was downloaded (32MB), I got the green light - it would have helped to get the blue arrows during the download process - I got a red light instead, all that time.  

As a caveat, is it normal to have only 8 non-onions Electrum servers reported by https://foundry.electrum.org/server-peer-hashes.txt ?  There used to be over 40 of them before the upgrade  

this has nothing to do with the upgrade; I guess it's a connectivity issue at the server.

Once the final version of this wallet is released, may I suggest to upgrade the version to a number like 3.X - to clearly indicate that the file formats are no longer compatible between version 2.X and version 3.X, similar to when version 1.X file format was upgraded to version 2.X last year?  

No, this is going to be named 2.7. There have been other file format upgrades in the past.
The upgrade from 1.X to 2.X was more than that, it was here to indicate a change of the seed version system.

Starting with this new version, does this mean that the Electrum wallets are now fully BIP-44 compliant ?  

Not at all. BIP44 is about having multiple accounts in the same wallet.

Finally, are there plans for Electrum to elect the BIP-39 wordlist in the future?  Or the Electrum "unique" wordlist will remain in force?

Electrum uses the same English wordlist as BIP39 since version 2. The way it differs from BIP39 is not about the wordlist.
The problem is that BIP39 seeds do not include a version number.
I suggest you read this to understand what it is about: http://docs.electrum.org/en/latest/seedphrase.html

EDIT2:

Tried the new Multisignature feature using two different Macs with two different Trezors: Flawless!  

However, I have two questions;
A.  for the multi-signature derivations, are you using BIP44 derivation scheme: m / purpose' / coin_type' / account' / change / address_index, with purpose = 45 (BIP45 Multisignature) and account = co-sign 1, co-sign 2, etc.?  If not, how will Electrum-Litecoin derivations be different than Electrum-Bitcoin derivations, and similar for Dash, Ethereum, etc.

We use BIP45 derivation for multisig hardware wallets.
However, you seem to have a very confused idea about BIP44 and BIP45.
BIP45 does not have / coin_type' / account'.
See https://github.com/bitcoin/bips/blob/master/bip-0045.mediawiki

B.  Electrum used to have a way for the first signatory to send a partially signed transaction (encrypted) to a temporary server, to be extracted by the second signatory.  Is this feature still available with this Hardware Wallet Multisignature feature?

yes it should be, although there has been some server downtime. You need to enable the cosignerpool plugin.

[Dassi]

I wonder what "broadcasting" means when sending funds from an electrum wallet.

[ThomasV]

I understand the difference between BIP44 and 45 (and the lack of alt-coin inclusion in BIP 45...) - therefore, my question... will Electrum be more inclusive than BIP45 was?

Please note that the the difference between BIP45 and BIP44 is not only the lack of coin type.
BIP45 uses a non-hardened cosigner index, instead of a hardened account number.

I did not want to use BIP44 for multisig hardware wallets in order to prevent key reuse.
I decided to follow BIP45 because it's the only standard around for deriving multisig addresses from a BIP39 seed.
At least it might make Electrum interoperable with Copay.

How will Pooler be able to implement 2.7.0 changes on Electrum-LTC, or Buterin with Electrum- ETH, if the BIP45 derivation doesn't include a "coin-type" ?

Well, I guess altcoins developers will have to patch that part. But that seems to be an issue with BIP45, more than with Electrum itself.

The only situation where Electrum uses BIP43/BIP44/BIP45 is with hardware wallets, because their seed is a BIP39 seed.
However, I am strongly against BIP39. I hope the industry will move away from this standard, once they realize the mess it creates.
Seeds with a version numbers are a better solution.

[japerry]

I'm using 2.7.0 under Windows 7 Home Edition with a Ledger HW.1. Whenever I try to send BTC using my HW.1 Wallet I get the error Exception: Invalid Status 6985. I can reproduce the error every time.

[viking02]

hey guys i downloaded electrum 2.7 on the new computer.


Options are


standard wallet

wallet with two factor authorization

multi-signature wallet

watch bitcoin addresses



Its the 1st one i assume i click on?  When i previously restored electrum on another computer it was 2.6.4.



Thanks guys.

[viking02]

okay so i assume click on


standard wallet


then


I already have a seed


then input my 12 word phrase




After i enter the 12 word phrase, do i need to check add a passphrase to this seed or BIP39 seed?  I have no idea what is this.


Also where is the option to add a password that you have to enter before you send your bitcoins?  For example when i restored my bitcoins in my computer, i put the 12 word phrase and put a password to encrypt my bitcoin?  Thus if i dont do this, anyone with access to my laptop could send bitcoins easily since there is no password.  Where is the option for this on electrum 2.7?


Is this the


Add a passphrase to this seed



Or


It comes up on next page?

[viking02]

okay i have an issue with this.  After i typed the 12 word phrase and then not check any of the 2 options below... i then click next.


Electrum then shuts off.  I then click on electrum again.  It did same thing


Clicked on

standard wallet


then


I already have a seed



Input the 12 word phrase, the same thing happens.


Do you know why this is happening?

[ThomasV]

Do you know why this is happening?

that's a bug, thanks for pointing it out. I'll fix it asap.