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Author Topic: Electrum Private keys  (Read 2517 times)
pooya87
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February 18, 2018, 05:12:40 AM
 #21

Hey,
I found this conversation while trying to prepare for the ZClassic hard fork to Bitcoin Private. It sounds like the “seed” is not the same as the private keys, correct?  I have my password and seed, just wondering if I need to track down my private keys as well to claim my Bitcoin Private?  Thanks in advance!

not exactly!
private keys are needed to sign a transaction (in other words to spend your funds). so that is what you need directly.
Seed is like a master key that can give you all of your private keys. so if you have your seed you can generate all of your private keys that are currently in use or will be generated and used in the future.

so that gives you 2 options: either import your private keys 1 by 1 in the new wallet and claim the new tokens or simply import your Seed in the new wallet and claim your new tokens.
the problem is that the new wallet has to support the seed that you already have, and not all of them support it. specially since different clients (Electrum, blockchain.info, ...) have different seeds that may not be compatible with each other easily and need additional tweaks to work.
also the other problem is the bold part above. you need to move your funds (bitcoin) to a new wallet with a new seed because your whole wallet is compromised as you import your seed your multiple private keys in a new wallet for the fork coin.

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