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Author Topic: n00b wallet question  (Read 256 times)
Haole
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April 09, 2013, 02:43:38 AM
 #1

I'm seriously thinking of "cashing-in" a portion of my Bitcoin to cover all principal expenses in buying all my Bitcoin initially, capital gains and a few extra bucks left over.

Once I send this given amount of BTC to the exchange to sell I would like to consolidate the rest of my wallet into one key for cold storage.  I will have four other keys left in my wallet after I sell the one tranche.

Can I simply send myself the rest of my Bitcoin all at once (receive the rest with a key I give to myself and use to send to on my same Bitcoin-Qt client) so that I have the rest contained in one single key?

I know I've read about this somewhere in here before but just wanted a bit of confirmation from those who really know what they're doing that this is as straighforward as it seems in my n00b mind.

Thanks very much for any help/comments!

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odolvlobo
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April 09, 2013, 02:48:10 AM
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What you probably don't know is that bitcoin-qt uses many more keys than the ones you know about. Anyway, my point is that there is no benefit to sending all you coins to a single key unless you are OCD or you are making a paper wallet.

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Haole
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April 09, 2013, 02:55:19 AM
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What you probably don't know is that bitcoin-qt uses many more keys than the ones you know about. Anyway, my point is that there is no benefit to sending all you coins to a single key unless you are OCD or you are making a paper wallet.


Uh... LOL... Yes, both actually, which is why I asked.  I take OCD to a new level and would ideally like to have just one set of keys backed-up and paper wallets with just one private and public key on them.   Is what I described above appropriate in this case?  Thanks!

"The future isn't what it used to be." - Yogi Berra
odolvlobo
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April 09, 2013, 03:03:04 AM
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What you probably don't know is that bitcoin-qt uses many more keys than the ones you know about. Anyway, my point is that there is no benefit to sending all you coins to a single key unless you are OCD or you are making a paper wallet.
Uh... LOL... Yes, both actually, which is why I asked.  I take OCD to a new level and would ideally like to have just one set of keys backed-up and paper wallets with just one private and public key on them.   Is what I described above appropriate in this case?  Thanks!
I guess you want to make a paper wallet then. Go to https://www.bitaddress.org to make a paper wallet and then send all your bitcoins to it.

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