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Author Topic: static address  (Read 383 times)
trogutithi
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July 11, 2017, 04:27:27 PM
 #1

i recently heard about a new tern Xpub address
according to what i read about it
it is basically a master address by which all your transaction can be tracked & i can use it as a BTC address to whom customers can sent BTC and i will recieve them in my wallet

but i saw a few warnings about not sharing it with untrusted people

is it really bad if i share it ?
i am asking in terms of security
privacy is not really a concern here

i just dont want someone to steal my coins
m fine with people tracking my coins Smiley

PS

if there is any way to get a address & use it as permanent address to recieve coins ?
again privacy is not a concern 

 

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HI-TEC99
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July 11, 2017, 04:53:40 PM
 #2

An Extended Public Key (xpub) can be used to generate a collection of Bitcoin addresses. There is a risk in sharing an xpub. It's possible for anyone who knows your xpub and one corresponding private key to calculate all the other private keys from its collection of addresses.

It's safe to use an xpub provided you make sure nobody ever discovers any of the private keys from the collection of addresses generated from it.
ecnalubma
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July 11, 2017, 06:00:29 PM
 #3

You've been warned therefore its not safe at all. There's no perfect system but if you have no doubt regarding its security go for it but if you feel unsafe abort it. There's always a way or chance that somebody can crack any system mostly if your account is hot and attracts intruders, better stay safe.

trogutithi
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July 11, 2017, 06:26:12 PM
 #4

An Extended Public Key (xpub) can be used to generate a collection of Bitcoin addresses. There is a risk in sharing an xpub. It's possible for anyone who knows your xpub and one corresponding private key to calculate all the other private keys from its collection of addresses.

It's safe to use an xpub provided you make sure nobody ever discovers any of the private keys from the collection of addresses generated from it.
i dont know anything abut private keys & how to keep them safe :/
i will google it Smiley
if you have some links where i can read please share them Smiley
trogutithi
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July 11, 2017, 06:37:43 PM
 #5

You've been warned therefore its not safe at all. There's no perfect system but if you have no doubt regarding its security go for it but if you feel unsafe abort it. There's always a way or chance that somebody can crack any system mostly if your account is hot and attracts intruders, better stay safe.
i dont think i will attract anyone..

i dont think even my total monthly transaction amount will be 1 BTC

i just have a small business


 
HI-TEC99
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July 11, 2017, 07:59:37 PM
 #6

An Extended Public Key (xpub) can be used to generate a collection of Bitcoin addresses. There is a risk in sharing an xpub. It's possible for anyone who knows your xpub and one corresponding private key to calculate all the other private keys from its collection of addresses.

It's safe to use an xpub provided you make sure nobody ever discovers any of the private keys from the collection of addresses generated from it.
i dont know anything abut private keys & how to keep them safe :/
i will google it Smiley
if you have some links where i can read please share them Smiley


This linked article explains private keys and the xpub, but it's a bit technical. Although plenty of wallets use an xpub it's usually kept hidden from you. An example is the electrum wallet. It's perfectly safe to use provided you don't reveal the xpub or a private key to anyone else. If you add a password to it the file containing all the sensitive private key related data gets encrypted, so nobody can view it without the password. Just use a password in electrum to protect your private keys.

https://bitcoinmagazine.com/articles/deterministic-wallets-advantages-flaw-1385450276/

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...there are two major types of deterministic wallets currently in use: Electrum wallets and BIP32 wallets; they use a very similar algorithm, allowing them both to have the master public key property, although the BIP32 wallets go further by also including the hierarchy property

Quote
The problem is this: although you certainly can securely hand out child keys with no risk to the parent key, and you can hand out master public keys with no risk to the master private key, you cannot do both at the same time. The exploit for when that situation does arise is actually quite simple, and can be done with two lines of pybitcointools code.


If you want to safely store large amounts of Bitcoins either buy a hardware wallet like a trezor, or use cold storage.

This thread discusses trezor hardware wallets.

https://bitcointalk.org/index.php?topic=122438.0

This article explains cold storage using electrum.

http://docs.electrum.org/en/latest/coldstorage.html
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July 12, 2017, 04:44:08 PM
 #7

if there is any way to get a address & use it as permanent address to recieve coins ?
again privacy is not a concern
All bitcoin addresses are "permanent" addresses. They don't disappear.  Technically, you can send coins to any given bitcoin address an infinite number of times.

So any address you have in your wallet can be used as a permanent receiving address. Most HD wallets like to try to reduce address re-use (to improve privacy and, to a lessor extent, security) by providing a new address each time you receive coins... but this this doesn't stop the old addresses from being able to receive coins... nor should it stop your wallet from being able to access those addresses/coins.

What wallet software are you using?

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