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Author Topic: Should I Run a Node?  (Read 205 times)
DiaperedDon (OP)
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April 13, 2021, 05:56:48 PM
 #21

Of course but I've been given no reason why Mycelium can't handle this transaction and will calculate transaction fees properly?  I have experience scanning a private cold storage wallet and sending it but the electrum thing is beyond me.

I can give you a suggestion.

Why don't you do everything with a low amount first? Then you will learn how to do it and will get some confidence before dealing with the real money.

Create a new paper wallet, with just one input. Send some funds to it (i can send you some dust if you need, but I will use a low fee and it might take some time for confirmation)

Then you try to open it in electrum wallet, just like you would do in your real funded wallet. You do all the steps you will have to  do and send that amount to ledger nano.

You will be more confident before dealing with your real wallet.

You can also use Mycellium if you prefer, although I never used it and I   don't trust it as I trust electrum.

Thanks very much for your help and patience.  I don't have an issue with doing what you suggest as I've already prepared a couple of "test wallets" with small amounts.   Creating 3 different wallets on electrum then importing my private key to all three, etc. as you gents explain is where I start to sweat colors and not just sweat.  I'm quite scared in general but the procedure explained to me to be able to do this in electrum is freaking me out and beyond my ability or self-confidence.
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April 13, 2021, 06:02:57 PM
 #22

I generated the p2sh SegWit Wallet offline intially with a downloaded web site from  https://segwitaddress.org/ and then received all the inputs over time.  These inputs are comprised of all 3 formats but my total balance in my wallet is a total of all of these?  Does that make sense?
So, you only have 1 address... that starts with a "3", correct? And you've only ever received payments to this address, correct? If so, you don't have a mix of "inputs".

You will only have nested Segwit UTXOs... it doesn't make any difference what address types the funds came from... you can receive from "1"-type, "3"-type or "bc1"-type addresses... but as long as you received all your funds to that one "3" address that you generated using segwitaddress.org, then your balance will be made up entirely of p2sh (aka nested) SegWit UTXOs.

So, you don't need to worry about creating multiple wallets or anything.

Personally, I would setup the Ledger... then connect it to Electrum... then sweep the paper wallet using Electrum+Ledger. That will put all the funds directly into the Ledger in one transaction and minimise exposure of your private key etc.

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DiaperedDon (OP)
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April 13, 2021, 06:17:13 PM
 #23

I generated the p2sh SegWit Wallet offline intially with a downloaded web site from  https://segwitaddress.org/ and then received all the inputs over time.  These inputs are comprised of all 3 formats but my total balance in my wallet is a total of all of these?  Does that make sense?
So, you only have 1 address... that starts with a "3", correct? And you've only ever received payments to this address, correct? If so, you don't have a mix of "inputs".

You will only have nested Segwit UTXOs... it doesn't make any difference what address types the funds came from... you can receive from "1"-type, "3"-type or "bc1"-type addresses... but as long as you received all your funds to that one "3" address that you generated using segwitaddress.org, then your balance will be made up entirely of p2sh (aka nested) SegWit UTXOs.

So, you don't need to worry about creating multiple wallets or anything.

Personally, I would setup the Ledger... then connect it to Electrum... then sweep the paper wallet using Electrum+Ledger. That will put all the funds directly into the Ledger in one transaction and minimise exposure of your private key etc.

Oh man, thanks for that!!!

Just one clarification, do I "import" the private key to Electrum or do I "sweep" it, which are two different things as far as I can gather?  No idea how to actually connect Electrum to my Ledger (which I don't have yet).

Thanks so very much!
DiaperedDon (OP)
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April 20, 2021, 12:48:04 AM
Last edit: April 20, 2021, 05:03:50 AM by DiaperedDon
 #24

Just an update if anyone is interested.

Tried my damndest to use Electrum on my laptop and Android tablet to use the air-gapped signing method and Electrum would absolutely not recognize my transactions properly and never presented me with a "Sign" button on the Android app when scanning the finalized, unsigned transaction from my laptop.  Will never use this POS wallet again.

Used Mycelium on my new tablet, swept my wallets and sent them.  It handled my big daddy (35 inputs, ~3500 vB in size) like a champ, close to US$800 in Tx fees for quick confirmation.

My BTC is now all snug as a bug in a rug on my BIP39 seed (Billfodl backed-up) now, love my new Ledger Nano X.  

Mycelium comes through just like it always did.

All the best and thanks for being here everyone.
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