Address balance and wallet balance

[nikom00]

Hey guys! Say I create a wallet and make it have two addresses. Then I recieve for example 5 BTC on the second address. Then I delete the address. Will money still be in the wallet? And I will be able to send money from 1st address? Without a trace? 

[grux]

If you delete the address that received the btc, you will lose the amount received to it. Unless you use coin control to move around the funds, the address that receives contains the the 5 btc.

[infinitybo]

If they was not a piece of Bitcoin in this wallet then normally not at all.

[nikom00]

Ok, so wallet is just a collection of addresses? From the start, I was talking about the usual PC wallet with some addresses. Never heard that address deletition also removes BTC from account. Didn't know it is that easy to lose BTC, just delete address with it. Then why does wallet not showing balance on different addresses? I guess it must be a "must-have" feauture.

[flatfly]

Ok, so wallet is just a collection of addresses? From the start, I was talking about the usual PC wallet with some addresses. Never heard that address deletition also removes BTC from account. Didn't know it is that easy to lose BTC, just delete address with it. Then why does wallet not showing balance on different addresses? I guess it must be a "must-have" feauture.

Some clients do have that feature - if I'm not mistaken: Electrum, Armory, Blockchain.info wallet.

[nikom00]

Ok, it is just that I didn't know. Thanks for the explanation. Is it possible to choose which address I want to send from in Bitcoin-Qt? Is it possible to see address balance there? (not only the total balance in the main tab).

[kjj]

Ok, it is just that I didn't know. Thanks for the explanation. Is it possible to choose which address I want to send from in Bitcoin-Qt? Is it possible to see address balance there? (not only the total balance in the main tab).

Coins do not come from addresses, and addresses do not have balances.  Please see any of the other approximately 9000 threads on these subjects.

[andytoshi]

At risk of my server being killed by the load, I'll post this here:
http://download.wpsoftware.net/bitcoin/bitcoin-faq.pdf

[empoweoqwj]

At risk of my server being killed by the load, I'll post this here:
http://download.wpsoftware.net/bitcoin/bitcoin-faq.pdf

I think your server is pretty safe, its just a PDF file

[deepceleron]

You aren't allowed to "delete" an address/private key in any sane wallet software, so the original question is already without basis.

This is like asking, "if I put snow tires on my car, and then take off one of the wheels, will I still be able to drive in the snow?" It's just a strange question.

[empoweoqwj]

You aren't allowed to "delete" an address/private key in any sane wallet software, so the original question is already without basis.

This is like asking, "if I put snow tires on my car, and then take off one of the wheels, will I still be able to drive in the snow?" It's just a strange question.

Just a lack of technical knowledge by the OP. Private keys aren't the easiest things to understand for most people. And "addresses" as been discussed before is quite a misleading term.

[jarhed]

@OP go to your wallet help-->console then type dumpprivkey [your btc address here] hit enter.
The result is your private key, now you may delete your wallet however you wish. Create as many new address you want and then dump all the private keys. That private key is considered your password to that public bitcoin address.

To spend btc from your private key to someone, use wallet import command (same flow as the above) on any new wallet, your new wallet will reflect balance after sync.
Or import via Blockchain.info's advance settings.

[nikom00]

Thanks for explanations, guys! I guess I will just read explanations on bitcoin, because I really have a lot I wonder about. But I get the bigger picture, I guess.

[andytoshi]

@OP go to your wallet help-->console then type dumpprivkey [your btc address here] hit enter.
The result is your private key, now you may delete your wallet however you wish. Create as many new address you want and then dump all the private keys. That private key is considered your password to that public bitcoin address.

To spend btc from your private key to someone, use wallet import command (same flow as the above) on any new wallet, your new wallet will reflect balance after sync.
Or import via Blockchain.info's advance settings.

You should probably qualify this with "manually managing keys is an easy way to make money-losing mistakes". If you want to move money into a wallet, just send a transaction.

Even bitcoin developers have stories of fat-fingering these things. It can be much worse for people who aren't clear on how wallets handle keys. There are quite tragic stories which show up on IRC and the development list from time to time, and with bitcoin valued as highly as it is, this is not the sort of mistake you want to make.

[jarhed]

Store your private keys somewhere safe that whenever your system crash for whatever hell bent reasons you're able to recover your full balance via another wallet's import function.

You should probably qualify this with "manually managing keys is an easy way to make money-losing mistakes". If you want to move money into a wallet, just send a transaction.

Even bitcoin developers have stories of fat-fingering these things. It can be much worse for people who aren't clear on how wallets handle keys. There are quite tragic stories which show up on IRC and the development list from time to time, and with bitcoin valued as highly as it is, this is not the sort of mistake you want to make.

Bitcoin developers having stories of fat-fingering does make you wonder, eh

Personally, having to rely on a program to maintain my balance is a little uncomfortable with bitcoin valued as highly as it is

[nikom00]

Is dropbox considered a good option, or easily hackable? Let's say that the wallet is encrypted (talking about export feature in bitcoin-qt).

[empoweoqwj]

Is dropbox considered a good option, or easily hackable? Let's say that the wallet is encrypted (talking about export feature in bitcoin-qt).

If the wallet is encrypted with a *strong* password, it can be stored anywhere. If its got a weak password, it shouldn't even be on your PC.

[jarhed]

Not a good idea to store cold-wallets online.

I personally never encrypt wallets for I use them only to generate public/private key then have them deleted. All of this done on a PC with no internet access.

Step 1. Download wallet(s) to your regular PC and save to USB drive, now insert USB to another offline computer and copy wallet.
 

Step 2. Install wallet(s) on offline PC, go to console and generate several public addresses, use command dumpprivkey to retrieve private key from each public address.


Step 3. Save all public/private key pair to a txt file or write it somewhere safe. Or get Truecrypt and create an encrypted volume if you plan to access your private keys anywhere online.

Step 4. Reformat the offline PC, wallet and all, everything.


Here's the why:
Step 1. Doesn't really matter if your online PC is infected or not, though you may want to turn off USB autorun function.

Step 2.  Addresses are generated offline to prevent keyloggers from phoning home. Thus, in the event the offline PC was already compromised, the reformat will prevent any malware waiting patiently to send all them keys the moment that offline PC finds net access.

Step 3. Encrypting wallet on an offline PC is pointless. If private keys are manually written on paper and the offline PC is reformatted you are completely safe.

Step 4. You're sure several copies are saved offline and/or your Truecrypt volume container has a strong password.

For dropbox storage, you can extract privates and save them in a Truecrypt container or encrypt your wallet. You may be your worst enemy at this point.

[Abdussamad]

Is dropbox considered a good option, or easily hackable? Let's say that the wallet is encrypted (talking about export feature in bitcoin-qt).

If the wallet is encrypted with a *strong* password, it can be stored anywhere. If its got a weak password, it shouldn't even be on your PC.

No. Preventing potential attackers from getting access to the encrypted wallet file is a good thing. It is the main reason desktop wallets are recommended over something like blockchain.info my wallet - the attacker does not have access to the desktop wallet file and therefore cannot attempt to brute force it.

If you want to backup your wallet buy a USB flash drive and use that. Or burn a DVD/CD. Don't put it in the cloud.

[empoweoqwj]

Is dropbox considered a good option, or easily hackable? Let's say that the wallet is encrypted (talking about export feature in bitcoin-qt).

If the wallet is encrypted with a *strong* password, it can be stored anywhere. If its got a weak password, it shouldn't even be on your PC.

No. Preventing potential attackers from getting access to the encrypted wallet file is a good thing. It is the main reason desktop wallets are recommended over something like blockchain.info my wallet - the attacker does not have access to the desktop wallet file and therefore cannot attempt to brute force it.

If you want to backup your wallet buy a USB flash drive and use that. Or burn a DVD/CD. Don't put it in the cloud.

You cannot brute force a *strong* password. Your definition of strong may vary from mine.

[wumpus]

You should probably qualify this with "manually managing keys is an easy way to make money-losing mistakes". If you want to move money into a wallet, just send a transaction.

Right on. Enough sob stories.

Don't be a cheapskate and use a transaction to send coins between wallets.

And in any case, whatever you do, don't mix a wallet managing client such as bitcoin-qt with manually fingering around with keys.

[deepceleron]

You aren't allowed to "delete" an address/private key in any sane wallet software, so the original question is already without basis.

This is like asking, "if I put snow tires on my car, and then take off one of the wheels, will I still be able to drive in the snow?" It's just a strange question.

Yes you can, in Electrum, Armory, Blockchain.info...

I said sane. It is nutty to allow users to shoot themselves in the foot by providing an interface to act on mistaken assumptions like these:

OP: Then I delete the address. Will money still be in the wallet? And I will be able to send money from 1st address? Without a trace?