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Author Topic: making paper wallet to paper wallet transaction  (Read 1077 times)
fred21
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October 10, 2017, 10:10:27 PM
 #1

Hello,

I want to make a transaction from my BTC paper wallet to another BTC paper wallet that I own.

What is the best way to do that? (I don't want to retrieve my paper wallet through blockchain.info or else, I want to make transaction directly to my other paper wallet)

Thanks for your help.
Whoever mines the block which ends up containing your transaction will get its fee.
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aleksej996
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October 10, 2017, 10:27:40 PM
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Never use online wallets. The easiest and safest way would be to install a wallet like Electrum or even better yet Bitcoin Core (you don't really need to sync it). You can download TailsOS and boot it from a USB, if you are concerned about your PC containing malware, as I heard that Tails has Electrum wallet installed.

You really just need to load the private keys in your offline wallet and make a transaction with an appropriate fee, you can use bitcoinfees.21.co for fee estimation.
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October 10, 2017, 11:09:33 PM
 #3

You will need to use a wallet to sweep the coins from one paper wallet to the other.

If you have an phone, the best way is to download the MyCelium app and do the "cold storage" process to sweep your private keys coins to a new address. Check this video[1] if you need help;

or if you don't have a phone, import your paper wallet in Electrum and send the coins to the new paper wallet address.

[1] https://www.youtube.com/watch?v=dUS6Nrff5qY

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October 11, 2017, 12:46:17 AM
 #4

Thanks, this was very helpful.
fred21
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October 12, 2017, 10:35:38 PM
 #5

I would like to make that with anonymity

By using electrum software on my computer, inevitably my ip or else will be associated with the transaction?

Is there not a way to create the transaction offline with private key then to broadcast it to the network online through a website?  (like it is possible to do with ethereum on www.myetherwallet.com)

Thanks a lot
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October 12, 2017, 10:37:48 PM
 #6

I would like to make that with anonymity

By using electrum software on my computer, inevitably my ip or else will be associated with the transaction?

Is there not a way to create the transaction offline with private key then to broadcast it to the network online through a website?  (like it is possible to do with ethereum on www.myetherwallet.com)

Thanks a lot

You can install a live distro like Tails on a USB (it has Electrum-Bitcoin pre-installed) and send the transactions. Every connection in Tails pass via Tor so your ip should be hidden. Remember to check the signature before install it and to create a persistence if you will use the same wallet in the future! Wink

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October 12, 2017, 10:44:16 PM
 #7

By using electrum software on my computer, inevitably my ip or else will be associated with the transaction?
Even if you use Tor, the addresses in the wallet will still be associated with the transaction.
Is there not a way to create the transaction offline with private key then to broadcast it to the network online through a website?  (like it is possible to do with ethereum on www.myetherwallet.com)

Thanks a lot
You definitely can. You can either download the coinb.in script and put it to your offline computer and transfer the unsigned raw transaction from the online computer to the offline computer to sign it.

You can do this with an online and offline instance of Bitcoin Core too.

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October 12, 2017, 11:18:33 PM
 #8

I would like to make that with anonymity

By using electrum software on my computer, inevitably my ip or else will be associated with the transaction?

Is there not a way to create the transaction offline with private key then to broadcast it to the network online through a website?  (like it is possible to do with ethereum on www.myetherwallet.com)
And how do you propose to broadcast the transaction to the network through a website without your IP address being associated with the transaction? You're still going to need an IP address to talk to the website... which could still end up linking your IP to the transaction.

Unless you're talking about creating a signed transaction offline... then copying the raw signed transaction hex onto a USB drive... and going and using a public computer owned by someone else to then broadcast that transaction via a website like coinb.in or blockcypher or b.info etc.

That would effectively link your transaction to someone else's IP address.

fred21
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October 13, 2017, 09:05:42 AM
 #9

Hello,
Thanks,

I have never done that.

I went to coinb.in and saw that there was a broadcast page where you can paste your hex encoded transaction and broadcast it to the network.

Is there no risk to get private key stolen by doing this?

I can create my "hex encoded transaction" with bitcoin core or coinb.in script offline using my private key. Is it right?

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October 13, 2017, 09:19:10 AM
 #10

I went to coinb.in and saw that there was a broadcast page where you can paste your hex encoded transaction and broadcast it to the network.

Is there no risk to get private key stolen by doing this?

I can create my "hex encoded transaction" with bitcoin core or coinb.in script offline using my private key. Is it right?

No risk for you private key. (if you create the transaction on an off line machine. Newer put your private key to a browser!)
The signed transaction does not contain your private key. It only contains your public key and a verification hash that verifies that you control the private key.

Yep. you can create the raw transaction in most wallets. I do not know if it is possible to do in bitcoin core without downloading the whole blockchain though. (how would it know you have coins otherwise?)

My Address: 121f7zb2U4g9iM4MiJTDhEzqeZGHzq5wLh
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October 13, 2017, 11:22:31 AM
 #11

I do not know if it is possible to do in bitcoin core without downloading the whole blockchain though.

You can.

(how would it know you have coins otherwise?)

You send in the necessary information with your createrawtransaction command and your signrawtransaction command.

fred21
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October 14, 2017, 12:14:05 AM
 #12

Hello,

Thanks but I would like somebady to tell me a step by step procedure. So I will makeit and you will tell me if right or not.

1)Download coinb.in script from github

2) run it on your browser on offline computer

3)go in create transaction tab offline

4) create the transaction using your private key offline

5) get the Hex encoded script of the transaction and paste it on coinb.in in broadcast tab while computer online

Is it right?
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October 14, 2017, 03:08:22 AM
 #13

3)go in create transaction tab offline
No, if the script is offline, it will not be able to get any UXTO information and will be unable to spend any thing. You have to go to the newtransaction(new>transaction) to create a raw transaction and copy it to your offline computer.
4) create the transaction using your private key offline
You are supposed to sign (sign tab) the transaction using your private key offline only.

Other than that, you are good to go.

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October 14, 2017, 01:30:25 PM
 #14

I would like to make that with anonymity

By using electrum software on my computer, inevitably my ip or else will be associated with the transaction?

Is there not a way to create the transaction offline with private key then to broadcast it to the network online through a website?  (like it is possible to do with ethereum on www.myetherwallet.com)
And how do you propose to broadcast the transaction to the network through a website without your IP address being associated with the transaction? You're still going to need an IP address to talk to the website... which could still end up linking your IP to the transaction.

Unless you're talking about creating a signed transaction offline... then copying the raw signed transaction hex onto a USB drive... and going and using a public computer owned by someone else to then broadcast that transaction via a website like coinb.in or blockcypher or b.info etc.

That would effectively link your transaction to someone else's IP address.

He can use Tor browser to visit a website. But in Tails OS everything is routed through Tor, it is the best OS for anonymity, that is why I recommended it in the first comment. It comes with Electrum, so any transaction will be broadcasted to Tor hiddden service nodes and no traffic will ever touch the clearnet. He will be as anonymous as a person can be, which is pretty good.
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October 14, 2017, 01:36:56 PM
 #15

This is related to a question I'd brought up earlier about API security -- once you start moving items outside of the core bitcoin network it feels less secure -- I think it illustrates some general discussion that it would be nice to have about how to improve security around information that is moving into/out-of the bitcoin network

  (I was ruled out-of-bounds for bringing this up as a direct question in another post, since bitcointalk is only supporting discussions about the core bitcoin network, at least that was my impression, sorry for bringing this up within this context, but I do think the OPs question is illustrative of larger trends, and not just this one-item)
fred21
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October 14, 2017, 10:17:01 PM
 #16

Thanks, according to ranochigo , here is the improved procedure:

1)Download coinb.in script from github

2) run it on your browser on offline computer

3)go in create new transaction tab with online computer, enter from address, to address, the btc amount to send, enter the fee, press submit

4) verify you transaction by pasting it in the verify tab with online computer

5) Paste your transaction on OFFLINE computer in sign tab and put you private key, then submit

5) get the Hex encoded script of the transaction from the sign tab of OFFLINE computer and paste it on coinb.in in broadcast tab while computer ONLINE

Is it better?
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October 15, 2017, 02:11:05 AM
 #17

Thanks, according to ranochigo , here is the improved procedure:

1)Download coinb.in script from github

2) run it on your browser on offline computer

3)go in create new transaction tab with online computer, enter from address, to address, the btc amount to send, enter the fee, press submit

4) verify you transaction by pasting it in the verify tab with online computer

5) Paste your transaction on OFFLINE computer in sign tab and put you private key, then submit

5) get the Hex encoded script of the transaction from the sign tab of OFFLINE computer and paste it on coinb.in in broadcast tab while computer ONLINE

Is it better?

Just a comment. If this Offine-computer procedure produced a square code with the hex, and Online-computer simply read that square code and broadcast it, that would be the slickest air gapped bitcoin system yet.
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October 15, 2017, 02:21:44 AM
 #18

...Is it better?
That sounds like it should achieve your goals of being able to send directly from your paper wallet without having to import it into a wallet first.

Although, I still think you are needlessly complicating things. If your concern is still about privacy and wanting to mask your IP to conduct the transaction... why not just sweep the contents of your paper wallet it to your new paper wallet using a copy of Electrum that is connected via TOR? Huh


fred21
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October 15, 2017, 05:40:04 PM
 #19

I will try the procedure I detailed above.

I am not familiar with using Electrum connected to tor or TAILS as somebody told me, but If somebody could explain, it would be nice thanks.

Can somebody just confirm that my private key is not contained at all in the hex code generated via the sign process?
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October 15, 2017, 05:43:38 PM
 #20

I will try the procedure I detailed above.

I am not familiar with using Electrum connected to tor or TAILS as somebody told me, but If somebody could explain, it would be nice thanks.

Can somebody just confirm that my private key is not contained at all in the hex code generated via the sign process?
It's not. You can even check by youself by going to this website[1] and decoding your signed transaction. The method described by you is basically the one that I used, but with a Bitkey image instead of Tails.

[1] https://live.blockcypher.com/btc/decodetx/

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