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Author Topic: What wallets allow cold wallet or offline transactions?  (Read 2672 times)
Dabs
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September 05, 2013, 05:21:39 AM
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Hi,

What bitcoin wallet software allows cold wallets or offline transactions?

For starters, there is Armory that is specifically set up to do this.

And, those of you using the original or reference bitcoin-qt client can do raw transactions or you can import the blockchain to an offline machine and do the transaction there, then ...

I need one that can use vanity generated compressed keys.

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Kris
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September 05, 2013, 05:23:41 AM
 #2

And hosted is out of the question?
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September 05, 2013, 07:50:22 AM
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I am working on this hope this will happen in next decade  Grin Grin

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September 05, 2013, 08:03:07 AM
 #4

And hosted is out of the question?

Cold wallet or Offline wallet like Armory or something else that goes on top of Bitcoin-qt or bitcoind puts most hosted wallets out. It's not that I don't trust them, but they are different altogether.

I plan on using it for my own site that will accept deposits and withdrawals of bitcoins, where most of the action will be done manually by a person (me). The site itself can monitor the blockchain, but all transactions will be done offline for security.

Armory is almost perfect, but it lacks the ability to use compressed keys. Qt is next, but it requires additional technical knowledge to use raw transactions, and I'd need to be able to pass on the responsibility to someone trusted who probably can't do that in case I am not around.

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September 05, 2013, 08:27:35 AM
 #5

And hosted is out of the question?

Cold wallet or Offline wallet like Armory or something else that goes on top of Bitcoin-qt or bitcoind puts most hosted wallets out. It's not that I don't trust them, but they are different altogether.

I plan on using it for my own site that will accept deposits and withdrawals of bitcoins, where most of the action will be done manually by a person (me). The site itself can monitor the blockchain, but all transactions will be done offline for security.

Armory is almost perfect, but it lacks the ability to use compressed keys. Qt is next, but it requires additional technical knowledge to use raw transactions, and I'd need to be able to pass on the responsibility to someone trusted who probably can't do that in case I am not around.

I see the dilemma, however I am unsure how you will do offline transactions from deposits and withdrawals. To give you qualified answers to your questions, a tiny bit more information is needed.

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Kris
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September 05, 2013, 08:37:29 AM
 #6

See here, perfect solution for you: https://bitcointalk.org/index.php?topic=288151.0
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September 05, 2013, 08:50:23 AM
 #7

I see the dilemma, however I am unsure how you will do offline transactions from deposits and withdrawals. To give you qualified answers to your questions, a tiny bit more information is needed.

I want to be my own bitcoin web wallet or I want to run my own bitcoin security or bitcoin investment site, or I want to operate something like a bitcoin based gaming site. They all work the same way for this purpose.

I can accept deposits, and this is the easy part. Just give users a new address and monitor it. I can then either just leave the coins where they are, or have something consolidate them to another address (or forwarded to a cold wallet address, for example.) When they want to withdraw, I will need to use my offline client to do it manually.

If it's just me, I can probably try to figure this out and do the raw transaction thing, but if I need to delegate this assignment to a trusted person, even though they may be trusted, they may not be competent to do it. They can make an honest mistake and attach a larger than usual transaction fee, or send it to the wrong address, or something else will go wrong.

I'm not even thinking about hot wallets yet, because that would mean leaving some bitcoins accessible from the site itself or the server, and this is open to hacks / theft. Manual processing would ensure the security of the coins at the cost of speed. If I, or a trusted person can do this in a few hours, that is an acceptable delay.

See here, perfect solution for you: https://bitcointalk.org/index.php?topic=288151.0

That still looks hard to use, and I can't seem to download the file.

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September 05, 2013, 08:59:21 AM
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That still looks hard to use, and I can't seem to download the file.
It is very very easy to use and because of HTML very userfriendly and runs on every computer.

No place for malware, because only txt files are exchanged between online and offline computer.
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September 05, 2013, 03:06:40 PM
 #9

Hi,

What bitcoin wallet software allows cold wallets or offline transactions?

For starters, there is Armory that is specifically set up to do this.

And, those of you using the original or reference bitcoin-qt client can do raw transactions or you can import the blockchain to an offline machine and do the transaction there, then ...

I need one that can use vanity generated compressed keys.

The Mycelium Bitcoin Wallet for Android does this.

Watch this video of the Cold Storage Spending feature: http://www.youtube.com/watch?v=1pDSzOiFgIk

For improved security take an old second hand Android device (>= Android 2.2), nuke it to factory defaults (maybe replace factory image with cyanogenmod), no SIM, and install nothing else than the wallet. You have turned a practically free old phone it into a single purpose hardware device. Forum announcement here.

Mycelium let's you hold your private keys private.
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September 05, 2013, 10:02:52 PM
 #10

Hi,

What bitcoin wallet software allows cold wallets or offline transactions?

For starters, there is Armory that is specifically set up to do this.

And, those of you using the original or reference bitcoin-qt client can do raw transactions or you can import the blockchain to an offline machine and do the transaction there, then ...

I need one that can use vanity generated compressed keys.

The Mycelium Bitcoin Wallet for Android does this.

Watch this video of the Cold Storage Spending feature: http://www.youtube.com/watch?v=1pDSzOiFgIk

For improved security take an old second hand Android device (>= Android 2.2), nuke it to factory defaults (maybe replace factory image with cyanogenmod), no SIM, and install nothing else than the wallet. You have turned a practically free old phone it into a single purpose hardware device. Forum announcement here.

Hi Jan,

I appreciate that and have been an old spinner user. However, I am wondering if this is designed as a personal wallet or can it handle a wallet with maybe 10,000 addresses?

Why? Because I may have that many users or players in my site, and each one gets a unique address of course.

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Jan
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September 05, 2013, 10:26:58 PM
 #11

Hi,

What bitcoin wallet software allows cold wallets or offline transactions?

For starters, there is Armory that is specifically set up to do this.

And, those of you using the original or reference bitcoin-qt client can do raw transactions or you can import the blockchain to an offline machine and do the transaction there, then ...

I need one that can use vanity generated compressed keys.

The Mycelium Bitcoin Wallet for Android does this.

Watch this video of the Cold Storage Spending feature: http://www.youtube.com/watch?v=1pDSzOiFgIk

For improved security take an old second hand Android device (>= Android 2.2), nuke it to factory defaults (maybe replace factory image with cyanogenmod), no SIM, and install nothing else than the wallet. You have turned a practically free old phone it into a single purpose hardware device. Forum announcement here.

Hi Jan,

I appreciate that and have been an old spinner user. However, I am wondering if this is designed as a personal wallet or can it handle a wallet with maybe 10,000 addresses?

Why? Because I may have that many users or players in my site, and each one gets a unique address of course.

The thing is that with the Cold Storage Spending feature the key you are spending from is only in the memory of the phone while you are spending. What you see in the video is a wizard where you: Scan-key/spend-from-key/wipe-key.
This will work with as many keys as you can manage on paper.

Mycelium let's you hold your private keys private.
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September 06, 2013, 05:10:22 AM
 #12

The thing is that with the Cold Storage Spending feature the key you are spending from is only in the memory of the phone while you are spending. What you see in the video is a wizard where you: Scan-key/spend-from-key/wipe-key.
This will work with as many keys as you can manage on paper.

Okay. So much for paperless work. I'm going to keep a whole bunch...

I need a better solution. The only thing I can think of is to use bitcoin-qt on an offline computer and import all those 10,000 addresses. Then if I want to do a transaction, the easiest non-thinking method would be to get an updated copy of the blockchain files then transfer those by sneaker-net. (copy to USB flash drive, etc.)

What some people are doing is simply using an online computer but securing and hardening it behind firewalls and anti-malware. I'd like to just skip that and not worry too much.

Or ... I wait until Armory is updated to use compressed keys.

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September 29, 2013, 01:43:55 PM
 #13

The thing is that with the Cold Storage Spending feature the key you are spending from is only in the memory of the phone while you are spending. What you see in the video is a wizard where you: Scan-key/spend-from-key/wipe-key.
This will work with as many keys as you can manage on paper.

Okay. So much for paperless work. I'm going to keep a whole bunch...

I need a better solution. The only thing I can think of is to use bitcoin-qt on an offline computer and import all those 10,000 addresses. Then if I want to do a transaction, the easiest non-thinking method would be to get an updated copy of the blockchain files then transfer those by sneaker-net. (copy to USB flash drive, etc.)

What some people are doing is simply using an online computer but securing and hardening it behind firewalls and anti-malware. I'd like to just skip that and not worry too much.

Or ... I wait until Armory is updated to use compressed keys.

The last option might be the easiest one.
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February 26, 2014, 05:21:12 PM
 #14

Maybe you can build something on top of this:
https://bitcointalk.org/index.php?topic=488915.0 Offbit - off grid Bitcoin TXs 
Smiley

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March 03, 2014, 08:11:00 AM
 #15

I am working on this hope this will happen in next decade  Grin Grin

Why don't you make it faster?

Quote from: Jan link=topic=288105.msg3088319#msg3088319 date=1378393600

The [url=https://play.google.com/store/apps/details?id=com.mycelium.wallet
Mycelium Bitcoin Wallet[/url] for Android does this.

Watch this video of the Cold Storage Spending feature: http://www.youtube.com/watch?v=1pDSzOiFgIk

For improved security take an old second hand Android device (>= Android 2.2), nuke it to factory defaults (maybe replace factory image with cyanogenmod), no SIM, and install nothing else than the wallet. You have turned a practically free old phone it into a single purpose hardware device. Forum announcement here.

Thanks a lot - that's what I was looking for!

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March 09, 2014, 06:44:29 PM
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https://play.google.com/store/apps/details?id=ru.valle.btc - wallet for android with no internet permission
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March 12, 2014, 02:37:47 PM
 #17

masterchain.info allows for signing bitcoin and mastercoin transactions offline

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March 19, 2014, 11:17:42 AM
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excuse me I am newbie here, where can I find out what is cold wallet and what does it need for?
I've just have made only a wallet on blockchain and bought some btc, but really interested in other coins as litecoin,Dodgecoin , etc
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March 19, 2014, 10:34:26 PM
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excuse me I am newbie here, where can I find out what is cold wallet and what does it need for?

https://en.bitcoin.it/wiki/Cold_storage
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