seed - lightning

[Mankov]

"With seed you can`t restore your bitcoins..."

4:00 minute

https://youtu.be/7D83IpdiF-U?t=240

I don`t want to export my private keys.
Too risky.

How can I access my bitcoins If electrum-wallet goes into lightning?

Are they lost if I don`t switch my wallet to lightning-wallet?

[OmegaStarScream]

That's not valid for the whole wallet, It's only for the lightning network. You'll still be able to recover your on-chain BTC/funds using the seed just fine.

[Mankov]

Ok. Thank you.

One example that we make sure, that there is no misunderstood:

You own a electrum wallet with a plenty of bitcoins and you didn`t
open it for over 2 years (maybe 2023) after the lightning network goes online.

So I´m still able to restore my bitcoins with the seeds I have before the lightning network went online?

Or is it better to secure the private keys?

[bob123]

Your bitcoin will always 'stay valid' and you will always be able to access them using your seed (or mnemonic code).

The lightning network is just a 2nd layer. You don't HAVE to use it. Everything pre-lightning works as it did before.

Look at it as a plugin. You can use it, it gives advantages, but you don't have to.
You can use your browser without any plugins too. It is not like after a specific plugin is available to download your browser won't work anymore.

[Abdussamad]

It is not better to export the private keys. Doing so may lead to funds losses.

[bob123]

It is not better to export the private keys. Doing so may lead to funds losses.

To clear any doubts of new people which may occur after reading this statement:


Exporting the private keys itself does not lead to any loss.
The fact, that you only backed up a specific 'set of addresses' can lead to a loss if you receive funds to a newly generated address in the future (which you don't have a backup of yet).

So, as a backup.. use the seed / mnemonic code. Exporting private keys itself (for whatever reason) is not an issue.