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Author Topic: Questions from a newbie - Thanks for your patience  (Read 409 times)
Bedros
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April 04, 2017, 08:50:22 PM
 #1

Hi friends, firstly, thanks for all your patience and precious time to support.
I am a newbie in Electrum Wallet and really enjoying it.
Have a few questions..:

1 - I am using Electrum Wallet Version - 2.8.2

2 - I have a 12 word SEED and a strong PASSWORD (a strongPassword fanatic here). Those two are enough to keep my BitCoins if something happens to my PC?

3 - Do I also HAVE TO back-up (copy the file) at "Users > Name > AppData > Roaming > Electrum > wallets > wallet" ?

4 - Let's assume that my computer has crashed , I lost every single file on my PC... Started from scratch. Downloaded Electrum again. I have the 12 word seed. The 12 word seed will be enough for me to get back on track or I will still need the password?

Thanks friends, I really appreciate any help.
Please also excuse any English Grammar mistakes.
Wish you the very best,
Bedros


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ranochigo
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April 04, 2017, 10:44:02 PM
 #2

2 - I have a 12 word SEED and a strong PASSWORD (a strongPassword fanatic here). Those two are enough to keep my BitCoins if something happens to my PC?
It depends. If you're referring to physical theft, the password would most probably deter anyone from getting access to your Bitcoins. If you are talking about malware infecting your computer, then most likely not. Malware can see your password as you are typing into the wallet.
3 - Do I also HAVE TO back-up (copy the file) at "Users > Name > AppData > Roaming > Electrum > wallets > wallet" ?
No, the seed will suffice. You can back it up and you will also have your labels etc backed up.
4 - Let's assume that my computer has crashed , I lost every single file on my PC... Started from scratch. Downloaded Electrum again. I have the 12 word seed. The 12 word seed will be enough for me to get back on track or I will still need the password?

The 12 word seed will suffice. It isn't password protected.














 

 

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pooya87
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April 05, 2017, 04:38:42 AM
 #3

2 things to add:
1. learn what a cold storage is and create it properly.
general idea: https://en.bitcoin.it/wiki/Cold_storage
how to do it with Electrum: http://docs.electrum.org/en/latest/coldstorage.html

2. test it before sending funds to it. it means install the wallet (preferably as a cold storage on a separate offline system), write down the seed. then try restoring the wallet with the seed and see what happens. play around a little while the wallet is empty, you can even test with 0.0001BTC by sending it to the wallet and out of it to figure out how everything works

then when you made sure transfer 1000BTC to it Smiley

Bedros
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April 05, 2017, 05:28:27 AM
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4 - Let's assume that my computer has crashed , I lost every single file on my PC... Started from scratch. Downloaded Electrum again. I have the 12 word seed. The 12 word seed will be enough for me to get back on track or I will still need the password?

The 12 word seed will suffice. It isn't password protected.

Thanks friends, pooya87 & ranochigo, I really appreciate your patience and precious time.
But what guarantees that if any NEW electrum user throws some any random words and does not reach a wallet by chance?

Edit: Reading ThomasV's post, "Why you cannot enter an arbitrary seed in Electrum" now Smiley
ranochigo
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April 05, 2017, 07:51:19 AM
 #5

4 - Let's assume that my computer has crashed , I lost every single file on my PC... Started from scratch. Downloaded Electrum again. I have the 12 word seed. The 12 word seed will be enough for me to get back on track or I will still need the password?

The 12 word seed will suffice. It isn't password protected.

Thanks friends, pooya87 & ranochigo, I really appreciate your patience and precious time.
But what guarantees that if any NEW electrum user throws some any random words and does not reach a wallet by chance?

Edit: Reading ThomasV's post, "Why you cannot enter an arbitrary seed in Electrum" now Smiley
Allowing the user to enter an arbitary seed would be opening up a vulnerability. Human brains prefer to create passphrase that is easy to memories and thus easy to guess.

Now for the word, theres a checksum in the Electrum seed and you have to make sure it matches the seed. Anyway, a valid seed is 13 words long. Electrum has an English word list of 2048 words. Hence, there will be 2048^13 possible sequence of seeds. Trust me, it can be done. But is it remotely possible in a few hundred centuries?














 

 

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Bedros
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April 05, 2017, 08:07:32 AM
 #6

.
Sorry once again but you mention 13 words but I have only 12.
Will this cause any problems while resurrecting my wallet from scratch?

Thanks a ton friends, as I have said, a complete newbie here Smiley
Coin-Keeper
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April 05, 2017, 06:51:50 PM
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+1 for learning about and deploying a cold and hot wallet scenario using Electrum.  That suggestion already given above is a great one.  If you only have one computer, or if you only want to use one computer, you might look at using a hardware wallet along with Electrum.  If your wallet size or transaction activities are low, a cheap hardware wallet is worth consideration.

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kolloh
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April 06, 2017, 03:55:53 AM
 #8

.
Sorry once again but you mention 13 words but I have only 12.
Will this cause any problems while resurrecting my wallet from scratch?

The default seed in my version of Electrum is only 12 words in length as well and is not 13. You won't have any issues restoring from these 12 words. I've read that some seed versions include 13 and some include 12. Either should work when restoring I believe.
pooya87
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April 06, 2017, 04:02:11 AM
 #9

.
Sorry once again but you mention 13 words but I have only 12.
Will this cause any problems while resurrecting my wallet from scratch?

Thanks a ton friends, as I have said, a complete newbie here Smiley

if you have generated that seed with Electrum wallet then you are OK.

the number of words has changed at least once before (if i recall correctly the older versions made a 13 word seed and new version create 12 words) checked with my 2.8.1 and it is 12 words.

and even if you have generated the 13 word seed with old version you can still use that in the new version, electrum automatically figures it out and recovers your private keys.

Bedros
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April 06, 2017, 05:26:10 AM
 #10

Thanks for all, @coin-keeper, @pooya87, @kolloh! It has been a great help and great to be part of such helpful commmunity. Smiley
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