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Author Topic: Running Two Wallets at the Same Time  (Read 1131 times)
Crypto-t
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April 22, 2014, 01:52:06 AM
 #1

Thought I'd share this if others are trying to achieve it for demonstration purposes. The instructions are step-by-step and covered in more detail in the blog post.

Quote
With our next workshop planned for tomorrow, we wanted to show the attendees how to send GB Coins from one wallet to another live on the same computer (Windows), so I began experimenting to find a way to do this.

When you try to start a second instance (copy) of the same wallet you get this error: Cannot obtain a lock on data directory

And when you get past the above error, you get another error: Unable to bind (screenshot below).

After some testing we managed to get past both errors and get two working but separate wallets on-screen, with each wallet successfully sending coins to the other one

Source: http://blog.gbcoinfoundation.org/how-to-run-two-wallets-of-the-same-coin-at-the-same-time-on-the-same-computer/



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April 25, 2014, 02:02:28 AM
 #2

Thought I'd share this if others are trying to achieve it for demonstration purposes. The instructions are step-by-step and covered in more detail in the blog post.

Quote
With our next workshop planned for tomorrow, we wanted to show the attendees how to send GB Coins from one wallet to another live on the same computer (Windows), so I began experimenting to find a way to do this.

When you try to start a second instance (copy) of the same wallet you get this error: Cannot obtain a lock on data directory

And when you get past the above error, you get another error: Unable to bind (screenshot below).

After some testing we managed to get past both errors and get two working but separate wallets on-screen, with each wallet successfully sending coins to the other one

Source: http://blog.gbcoinfoundation.org/how-to-run-two-wallets-of-the-same-coin-at-the-same-time-on-the-same-computer/




But why would you want to?
Cryptogirl82
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April 25, 2014, 11:53:47 AM
 #3

I run about 5 wallets at the same time and have had no problems so far.

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PRIMEDICE
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sclaggett
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April 25, 2014, 12:16:00 PM
 #4

I have the same question as to what is the specific use case here for this application.  Undecided
Yuki1988
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April 25, 2014, 02:51:03 PM
 #5

But why would you want to?

Maybe he has a personal wallet and a wallet for his business. Or maybe he has two separate businesses.

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April 25, 2014, 05:13:35 PM
 #6

Thought I'd share this if others are trying to achieve it for demonstration purposes.


bitkanu
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April 25, 2014, 06:30:01 PM
 #7

i think using of 2 wallet is wasting if you can store your  all money in single account Smiley but one thing i want clear you guys if you want to make multiple accounts and distribute all money into those account your money is much safer form hackers


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gagalady
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April 26, 2014, 02:22:02 PM
 #8

Two wallets or more are for different purpose let'sa say one for your business where you get alot of transactions and other one for personal use.Or just to separate your coin stack so It's safer and less attracting for hackers .
digitalninja81
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April 26, 2014, 03:37:14 PM
 #9

Thanks for this info, but in my case one wallet is pretty much
DocJeff
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April 26, 2014, 03:51:41 PM
 #10

Good info, but if your'e doing this for security that's a reallly bad idea.

Wallets stored locally on the same box may have different credentials, but realistically if one is compromised it's probably not because somebody figured out your RPC info (though it is possible.) Anyway, the point is the only reason I could think of doing this outside of security would be to give each person using a computer their own wallet, at which point honestly you should just use the "account" field
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April 27, 2014, 04:58:54 AM
 #11

Armory has a multi-wallet interface precisely because it does support different security models.   Many users keep different wallets also for general organizational reasons, and I've heard that the bitcoind "accounts" are very ... awkward.

We spent a lot of time making the interface natively support multiple wallets, because having a single wallet doesn't meet the needs of most users -- you need to be able to manage "spending cash" (hot) and "savings" (cold) simultaneously, you can't just keep all your money in one or the other (you can, but it's not ideal).  Also, we use watching-only wallets to track employees payments.  For instance, here's why we hold multiple wallets:

  • A hot wallet for day-to-day spending
  • A watch-only wallet for an offline/cold laptop in the office
  • A watch-only wallet for an offline/cold laptop in a safe-deposit box at a bank
  • N watch-only wallets for each N employees, so we can pay them without requesting or reusing addresses.  Armory also has an export function to save the transaction history for each wallet to a CSV file for book-keeping.

The last one isn't limited to companies.  You and your friends can exchange watching-only wallets, and use them to pay each other.  It's automatic book-keeping, easy backup, and never re-uses addresses.

Trying to deal with multiple wallets in any other app is kind of a pain, and not all that useful unless you're using significantly different security profiles for each one.  I agree that if the private keys for multiple wallets are on the same hard-drive, they have essentially the same security profile (assuming they're both encrypted).



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April 27, 2014, 07:17:47 AM
 #12

Trying to deal with multiple wallets in any other app is kind of a pain, and not all that useful unless you're using significantly different security profiles for each one.  I agree that if the private keys for multiple wallets are on the same hard-drive, they have essentially the same security profile (assuming they're both encrypted).
Does armory support a RPC mechanism? Can it run headless?

Quite regularly I get requests for a server-side wallet solution that supports multiple wallets, and I have no idea which of the many wallet solutions works there.

Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through FileBackup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
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April 27, 2014, 02:38:51 PM
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Trying to deal with multiple wallets in any other app is kind of a pain, and not all that useful unless you're using significantly different security profiles for each one.  I agree that if the private keys for multiple wallets are on the same hard-drive, they have essentially the same security profile (assuming they're both encrypted).
Does armory support a RPC mechanism? Can it run headless?

Quite regularly I get requests for a server-side wallet solution that supports multiple wallets, and I have no idea which of the many wallet solutions works there.

armoryd.py is still somewhat minimal.  We followed bitcoin core's RPC interface as much as possible, which is a one-wallet interface, and we just haven't had time to update it to handle multiple wallets.  It actually would be quite easy -- just register mulitple wallets at startup instead of one, and then add some RPC commands to switch the "active" wallet.  In fact, I think some people using armoryd have essentially modified it in this way.  It's just not officially supported yet.




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Armory Bitcoin Wallet: Bringing cold storage to the average user!
Only use Armory software signed by the Armory Offline Signing Key (0x98832223)

Please donate to the Armory project by clicking here!    (or donate directly via 1QBDLYTDFHHZAABYSKGKPWKLSXZWCCJQBX -- yes, it's a real address!)
elavenil
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April 28, 2014, 02:41:55 AM
 #14

What is wrong with having one wallet and multiple address?

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