"watching wallet" workaround for bitcoind (requires pywallet beta)

[jackjack]

I'll put this feature in pywallet. I'm happy if anyone wants to tip me but I'll do this without any bounty.
I think I can implement it in the public realease within 1-2 weeks. I have to implement the encrypted wallets recovery first.
I'll test the concept sooner though.

[DeathAndTaxes]

I'll put this feature in pywallet. I'm happy if anyone wants to tip me but I'll do this without any bounty.
I think I can implement it in the public realease within 1-2 weeks. I have to implement the encrypted wallets recovery first.
I'll test the concept sooner though.

Thanks JackJack, pywallet is an awesome tool.  Having a read-only wallet conversion option in pywallet is a good fit. 

I will still work on a "watching wallet" conversion tool for my own use.  If nothing else it will be some interesting development. 

[jackjack]

Pywallet 2.1.0b2 should be working: http://pastebin.com/raw.php?i=2FtQDj3v

Please some of you try

Code:

python pywallet_2.1.0b2.py --clone_watchonly_from /home/jackjack/wallet.dat --clone_watchonly_to /home/jackjack/wallet2.dat

[DeathAndTaxes]

Pywallet 2.1.0b2 should be working: http://pastebin.com/raw.php?i=2FtQDj3v

Please some of you try

Code:

python pywallet_2.1.0b2.py --clone_watchonly_from /home/jackjack/wallet.dat --clone_watchonly_to /home/jackjack/wallet2.dat

It "worked" for me.  The clone had no issues and when I did an encrypted dump of the cloned wallet everything looked correct.  Will do some more testing over the weekend but this should help a lot.

[DeathAndTaxes]

Updated OP to use pywallet clone-watchonly option.  I have not encountered any issues in testing however pywallet 2.1.0 is in beta and should not be used for production without further testing.

[kuzetsa]

Updated OP to use pywallet clone-watchonly option.  I have not encountered any issues in testing however pywallet 2.1.0 is in beta and should not be used for production without further testing.

I was very excited when I saw this thread title

"watching wallet" workaround in bitcoind _{(now/ pywallet beta support)}

When I saw the thread title, I jumped at the words:

• "...workaround in bitcoind..."

But I hadn't expected the meaning of:

• "...now/ pywallet beta support"

... to actually instead mean:

• "This works and can be used in bitcoind ... but only after using pywallet
  ... to manipulate your data, strip private keys out, and rebuild a new wallet"

I live the idea of having watching-only wallets in bitcoind

like...

some version which doesn't involve pywallet AT ALL

Thanks though.

[DeathAndTaxes]

Updated OP to use pywallet clone-watchonly option.  I have not encountered any issues in testing however pywallet 2.1.0 is in beta and should not be used for production without further testing.

I was very excited when I saw this thread title

"watching wallet" workaround in bitcoind _{(now/ pywallet beta support)}

When I saw the thread title, I jumped at the words:

• "...workaround in bitcoind..."

But I hadn't expected the meaning of:

• "...now/ pywallet beta support"

... to actually instead mean:

• "This works and can be used in bitcoind ... but only after using pywallet
  ... to manipulate your data, strip private keys out, and rebuild a new wallet"

I live the idea of having watching-only wallets in bitcoind

like...

some version which doesn't involve pywallet AT ALL

Thanks though.

Changed the title.  I would like watching wallet in bitcoind without 3rd party tools as well.  However that likely isn't going to happen anytime soon.

[jackjack]

"This works and can be used in bitcoind ... but only after using pywallet
... to manipulate your data, strip private keys out, and rebuild a new wallet"

If by key you mean private key it's wrong, it doesn't require the passphrase nor knowing the private keys

[DeathAndTaxes]

"This works and can be used in bitcoind ... but only after using pywallet
... to manipulate your data, strip private keys out, and rebuild a new wallet"

If by key you mean private key it's wrong, it doesn't require the passphrase nor knowing the private keys

Good point.  pywallet is well trusted and vetted but even so pywallet doesn't need or ask for the wallet passphrase.  It simply creates a copy which replaces the encrypted private keys with placeholders and then changes the encryption key on the copy to prevent accidental unlocking as a precaution.  It is making a reduced information copy, it doesn't modify the original ("spending") wallet.dat.

If you are particularly paranoid you could:
1) Make backup of your "spending wallet".
2) Make a throw away copy of the backup in #1.
3) Use pywallet to create a clone of the copy in #2.
4) Delete the copy in #2.

Either that or read the source code.

[jackjack]

Wow, you did write private key... I should really read all the words in a post better quoting it...

Anyway, then yes you're wrong
All you risk is having a useless clone file

[kuzetsa]

((...snip...))

... creates a copy which replaces the encrypted private keys with placeholders...

((...snip...))

^ That is just another way of describing what I was referring to when I said:

(self-quote) "... strip private keys out, and rebuild a new wallet..."

If by key you mean private key it's wrong, it doesn't require the passphrase nor knowing the private keys

Anyway, then yes you're wrong

@jackjack: not sure who you're addressing when you say "you're wrong"

The reference I made to "private keys" was talking about the keys which are used to sign and spend UXTOs associated with the wallet

... Based on what you said, somehow I think you thought I was referring to encrypted wallets (using passphrase or otherwise)

Nope. I wasn't referring to encrypted wallets. When I said "private keys" I meant like this:

Code:

5Kb8kLf9zgWQnogidDA76MzPL6TsZZY36hWXMssSzNydYXYB9KF

That is the private key associated with:

Code:

1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj

The watching wallet would not have (stripped out / replaced with placeholder) the private key, and so, couldn't spend any coins sent to 1CC3X2gu58d6wXUWMffpuzN9JAfTUWu4Kj...

[Dabs]

This has something to do with the feature I requested a few weeks (or a month) ago to import only the public key, without knowledge of the private key.

We then proceeded to pretend to be Satoshi, and for me to pretend to have a fat wallet with 3 million coins in it.

Those are obviously "watch-only" wallets. So you could do it one key at a time, or now, hundreds of keys. Good job!

[jackjack]

@kuzetsa: it depends on what you mean by private key. As the wallet is encrypted beforehand and pywallet doesn't ask for the passphrase, what it strips out are encrypted private keys, which are totally meaningless. If you meant something like "it can read my private keys" then it's wrong (that's what I thought you meant the first time). If you were only describing the process and actually meant encrypted private keys then it's right.

@Dabs: yes it's the same trick, I didn't think about making a whole watching wallet at the time

@OP: pywallet with the feature is no more in beta