MultiBitHD and Electrum Question

[ydkm]

I am using Multibit Classic now and want to change to MultibitHD or Electrum because i think its easier to backup. I hope i am right.

I don't understand, if i have the 12 words,so i can backup my wallet at any computer ?

If i create today my new wallet and recive 200 payments on 200 generatet wallets that multibit / electrum create. Then i reinstall my computer and electrum / multibit and i only have to input the 12 words and i have still my money ? So i dont need to safe any file ? ONLY the 12 Words ?

From where Electrum and MultiBitHD knew that the 200 wallets owned to the 12 words ?


Sorry but i dont unterstand it 

[1713267430]

1713267430

[1713267430]

1713267430

[zuzuca]

multibit clasic is dead....i have sended a transfer with it almost 1 week ago...not confirmed yet..damn

[HCP]

I am using Multibit Classic now and want to change to MultibitHD or Electrum because i think its easier to backup. I hope i am right.

I don't understand, if i have the 12 words,so i can backup my wallet at any computer ?

If i create today my new wallet and recive 200 payments on 200 generatet wallets that multibit / electrum create. Then i reinstall my computer and electrum / multibit and i only have to input the 12 words and i have still my money ? So i dont need to safe any file ? ONLY the 12 Words ?

From where Electrum and MultiBitHD knew that the 200 wallets owned to the 12 words ?

Sorry but i dont unterstand it 

Firstly, a slight correction to your terminology. The wallet is not generating 200 "wallets"... it generates addresses/keys, but your understanding is correct... you only need the 12 words.  It is the seed (or starting point), and Electrum (or MultiBit HD) will be able to rebuild your entire wallet from just those 12 words. That is the whole point of HD (Hierarchically Deterministic) wallets.

The highly complex and mathematical explanation is here: https://github.com/bitcoin/bips/blob/master/bip-0032.mediawiki

A slightly more simple explanation would be that the HD wallet system is is like an infinitely long hallway, with an infinite number of doors... behind each door is a room full of addresses/keys. Your 12 words are the "starting" point in the hallway and Electrum (or MB HD) then counts down a set number of doors from your starting point and that is the room full of keys that your wallet will use.

So, let's say your 12 word seed translates as "start at Door #120"... Electrum will then count along a fixed number of doors, say 44, and that is your door, so you get all the addresses and keys behind door #164. If you reinstall your computer and start Electrum up... you put in your seed... Electrum works out that it needs to start at Door #120, counts along 44 more doors again and you get all the same addresses and keys from behind door #164

Hopefully that makes sense...

NOTE: I don't recommend that you use MultiBit HD at the moment... it has a serious bug in it that is preventing some users from opening their wallets. If you're going to upgrade to an HD wallet, I would suggest you switch to Electrum.

multibit clasic is dead....i have sended a transfer with it almost 1 week ago...not confirmed yet..damn

Classic is no longer actively maintained or supported... but that has no bearing on your transaction times. That is most likely due to 1. relatively "low fees" used as default by Classic as it is old and 2. the current network load...

The network has been crazy for a while now, and fees have been consistently above 200 satoshi/byte... I think classic defaults to something ridiculous like 50 sat/byte (assuming a minimum sized transaction)

[BitcoinPanther]

NOTE: I don't recommend that you use MultiBit HD at the moment... it has a serious bug in it that is preventing some users from opening their wallets. If you're going to upgrade to an HD wallet, I would suggest you switch to Electrum.

I second this suggestion.  Aside from the bug issue,  there is no available option for private key transfer in Multibit HD or you cannot get the private key of the address you are using.  I search it in their faq but they just stated that private key is hidden to its users.  So better use electrum.  You can transfer your BTC from your Multibit classic by sending the balance from Multibit classic wallet to electrum wallet.

[Coin-Keeper]

I am using Multibit Classic now and want to change to MultibitHD or Electrum because i think its easier to backup. I hope i am right.

I don't understand, if i have the 12 words,so i can backup my wallet at any computer ?

If i create today my new wallet and recive 200 payments on 200 generatet wallets that multibit / electrum create. Then i reinstall my computer and electrum / multibit and i only have to input the 12 words and i have still my money ? So i dont need to safe any file ? ONLY the 12 Words ?

From where Electrum and MultiBitHD knew that the 200 wallets owned to the 12 words ?


Sorry but i dont unterstand it 

The other to add to the comments in this thread concerns whether or not you messing with the GAP limit on Electrum.  You mentioned 200 address.  I don't know how your clients are paying you but IF you have a number of addresses BLANK (no coin transactions) that is greater than the GAP limit (maybe an extended configuration you placed on your existing Electrum setup) and then receive payment on an address that is beyond the normal (out of the box) GAP limit you will also need to configure your "extended" GAP limit into the new computer when you create the wallet using only the SEED words.  When you restore an Electrum wallet from SEED it will generate your transactions until it goes out to the GAP limit and if no coins/transactions are detected (example 20 addresses) it will stop "assuming" your done reconstructing.  Hope this makes sense.  I may have wasted your time here if you don't have large blocks of unused addresses in your wallet.  Some folks use large GAP limits so customers have a unique address but then they never have transactions on those addresses.  Just checking for you here!

[HI-TEC99]

NOTE: I don't recommend that you use MultiBit HD at the moment... it has a serious bug in it that is preventing some users from opening their wallets. If you're going to upgrade to an HD wallet, I would suggest you switch to Electrum.

I second this suggestion.  Aside from the bug issue,  there is no available option for private key transfer in Multibit HD or you cannot get the private key of the address you are using.  I search it in their faq but they just stated that private key is hidden to its users.  So better use electrum.  You can transfer your BTC from your Multibit classic by sending the balance from Multibit classic wallet to electrum wallet.

There is a way to get the private keys multibit HD is using, but you have to use an offline copy of a webpage tool to do it, and it's quite technical. I explained how to do it in this post.

https://bitcointalk.org/index.php?topic=1777815.msg17773212#msg17773212

If anyone tries it then install virtual box or vmware first and run the offline webpage inside a virtual machine. It's safest to be ultra paranoid when handling any Bitcoin software, and run it in a secure isolated environment. That way any malicious code can't steal your Bitcoins.

[eB101]

If anyone can help that'd be nice;

I changed computer, knowing I had 12 wallet words, file backup, and password. I wrote down the wallet words in 2 different places, and I'm sure I did not make a mistake while doing it.

However, when I try to restore, and type the 12 words, I can't go the the next step. I also read a lot of threads, and therefore tried to find my private keys with tools such as https://iancoleman.github.io/bip39/
But seems like it doesn't like my 12 words anyways. Is there a way to restore my wallet with just file backup (mbhd...zip.aes) and password? I can also give the 12 words to a dev or someone trustable, there is no balance but I need to private keys for an old ICO I made from an address.

[hexafraction]

If anyone can help that'd be nice;

I changed computer, knowing I had 12 wallet words, file backup, and password. I wrote down the wallet words in 2 different places, and I'm sure I did not make a mistake while doing it.

However, when I try to restore, and type the 12 words, I can't go the the next step. I also read a lot of threads, and therefore tried to find my private keys with tools such as https://iancoleman.github.io/bip39/
But seems like it doesn't like my 12 words anyways. Is there a way to restore my wallet with just file backup (mbhd...zip.aes) and password? I can also give the 12 words to a dev or someone trustable, there is no balance but I need to private keys for an old ICO I made from an address.

What wallet did you use when you created your twelve word passphrase? You can in fact restore your wallet using mbhd...zip.aes. You'll need your twelve-word seed though, although it might work with multibit HD (just not other tools, due to incompatibility).

[eB101]

If anyone can help that'd be nice;

I changed computer, knowing I had 12 wallet words, file backup, and password. I wrote down the wallet words in 2 different places, and I'm sure I did not make a mistake while doing it.

However, when I try to restore, and type the 12 words, I can't go the the next step. I also read a lot of threads, and therefore tried to find my private keys with tools such as https://iancoleman.github.io/bip39/
But seems like it doesn't like my 12 words anyways. Is there a way to restore my wallet with just file backup (mbhd...zip.aes) and password? I can also give the 12 words to a dev or someone trustable, there is no balance but I need to private keys for an old ICO I made from an address.

What wallet did you use when you created your twelve word passphrase? You can in fact restore your wallet using mbhd...zip.aes. You'll need your twelve-word seed though, although it might work with multibit HD (just not other tools, due to incompatibility).

It was multibitHD, but the seed does not work when I try to recover the wallet. Or at least, the "next" button remains deactivated when I type in the twelve words in multibitHD

[HCP]

I've had MultiBit HD do something similiar... where it won't activate the "next" button for some reason... I usually just click "previous", reselect that i want to restore and try typing the 12 words in again (NOTE: don't try and copy/paste it in either).

You can also double check your 12 words here: (NOTE: Run an offline copy to be safe!) https://iancoleman.github.io/bip39/

It even offers suggestions for mispelled words

[eB101]

I've had MultiBit HD do something similiar... where it won't activate the "next" button for some reason... I usually just click "previous", reselect that i want to restore and try typing the 12 words in again (NOTE: don't try and copy/paste it in either).

You can also double check your 12 words here: (NOTE: Run an offline copy to be safe!) https://iancoleman.github.io/bip39/

It even offers suggestions for mispelled words

Thanks, but I tried many things including checking the 12 words on that site, which says invalid mnemonic. So I'm really not sure what to do, I will PM my 12 words to the few that answered, maybe one of you can figure it out and let me know what the problem was. I'll be happy to give a part of the coins I am waiting for (not BTC).

[shamzblueworld]

I am using Multibit Classic now and want to change to MultibitHD or Electrum because i think its easier to backup. I hope i am right.

I don't understand, if i have the 12 words,so i can backup my wallet at any computer ?

If i create today my new wallet and recive 200 payments on 200 generatet wallets that multibit / electrum create. Then i reinstall my computer and electrum / multibit and i only have to input the 12 words and i have still my money ? So i dont need to safe any file ? ONLY the 12 Words ?

From where Electrum and MultiBitHD knew that the 200 wallets owned to the 12 words ?


Sorry but i dont unterstand it 

I am using Multibit HD, no problems so far, its working fine and once when I had to change my PC, the backup process from the words was easy enough to do in a couple of minutes. So I'd recommend upgrading to MultiBit HD. As for electrum, I tried using it before MB, but I found MB to be more user friendly.

[Slark]

I am using Multibit HD, no problems so far, its working fine and once when I had to change my PC, the backup process from the words was easy enough to do in a couple of minutes. So I'd recommend upgrading to MultiBit HD. As for electrum, I tried using it before MB, but I found MB to be more user friendly.

So you find Multibit more user friendly? Why exactly you say that?

I like electrum and never installed Multibit old one nor HD - so I am curious what functionality of Multibit is better.
12 words passphrase backup is exactly the same in every HD wallet AFAIK.