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axel2078 (OP)
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November 12, 2014, 03:04:58 AM |
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I recently installed the Mycelium Wallet app on my phone and I really like it so far. I decided to test the backup and restore functionality of it though before I decided to store any bitcoins in the wallet app (I was just using it to track balances of paper wallets before now). I moved $2 into the Mycelium Wallet "HD" account, which Mycelium said contained 1 private key. Once the $2.00 was there, I removed the app from my phone and then reinstalled it. When it opened, it asked if I wanted to restore from backup, so I said yes and then entered in the 12 words required to restore the master seed. Once that was done, it sync'd up and displayed the correct balance again, which is $2.00 USD. However, now that "HD" account has 2 private keys. Why is this? Why does it have two now?
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odolvlobo
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Activity: 4312
Merit: 3214
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November 12, 2014, 05:40:22 PM |
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Everytime you receive bitcoins, Mycellium will create a new address. You had two addresses before you removed the app. You probably didn't notice.
Using one address per transaction improves privacy. If you use a single address, then people can monitor all of your transactions.
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PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
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axel2078 (OP)
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November 12, 2014, 08:45:03 PM |
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Everytime you receive bitcoins, Mycellium will create a new address. You had two addresses before you removed the app. You probably didn't notice.
Using one address per transaction improves privacy. If you use a single address, then people can monitor all of your transactions.
Does this mean that as the number of transactions I make increases, the number of private keys in the mycelium wallet will also increase? |
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odolvlobo
Legendary
Offline
Activity: 4312
Merit: 3214
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November 12, 2014, 11:09:32 PM |
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Everytime you receive bitcoins, Mycellium will create a new address. You had two addresses before you removed the app. You probably didn't notice.
Using one address per transaction improves privacy. If you use a single address, then people can monitor all of your transactions.
Does this mean that as the number of transactions I make increases, the number of private keys in the mycelium wallet will also increase? Yes, generally if you have 1,000,000 sends or receives, you will have 1,000,001 private keys. The wallet manages them so you don't really have to worry about it. There is no storage cost because the keys are created from a seed. |
Join an anti-signature campaign: Click ignore on the members of signature campaigns.
PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
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axel2078 (OP)
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November 13, 2014, 03:48:11 AM |
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Everytime you receive bitcoins, Mycellium will create a new address. You had two addresses before you removed the app. You probably didn't notice.
Using one address per transaction improves privacy. If you use a single address, then people can monitor all of your transactions.
Does this mean that as the number of transactions I make increases, the number of private keys in the mycelium wallet will also increase? Yes, generally if you have 1,000,000 sends or receives, you will have 1,000,001 private keys. The wallet manages them so you don't really have to worry about it. There is no storage cost because the keys are created from a seed. I want to make sure I'm understanding you. So every time you send or receive in Mycelium, the wallet creates a new public and private key pair for that transaction, correct? That is why there are so many as time goes on? |
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odolvlobo
Legendary
Offline
Activity: 4312
Merit: 3214
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November 13, 2014, 08:20:25 AM |
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Everytime you receive bitcoins, Mycellium will create a new address. You had two addresses before you removed the app. You probably didn't notice.
Using one address per transaction improves privacy. If you use a single address, then people can monitor all of your transactions.
Does this mean that as the number of transactions I make increases, the number of private keys in the mycelium wallet will also increase? Yes, generally if you have 1,000,000 sends or receives, you will have 1,000,001 private keys. The wallet manages them so you don't really have to worry about it. There is no storage cost because the keys are created from a seed. I want to make sure I'm understanding you. So every time you send or receive in Mycelium, the wallet creates a new public and private key pair for that transaction, correct? That is why there are so many as time goes on? Yes that is mostly correct. Every time you receive bitcoins, the wallet will create a new address for the next time. Every time you send bitcoins the wallet will create a new address to send the change to. |
Join an anti-signature campaign: Click ignore on the members of signature campaigns.
PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt
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axel2078 (OP)
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November 13, 2014, 03:47:55 PM |
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Everytime you receive bitcoins, Mycellium will create a new address. You had two addresses before you removed the app. You probably didn't notice.
Using one address per transaction improves privacy. If you use a single address, then people can monitor all of your transactions.
Does this mean that as the number of transactions I make increases, the number of private keys in the mycelium wallet will also increase? Yes, generally if you have 1,000,000 sends or receives, you will have 1,000,001 private keys. The wallet manages them so you don't really have to worry about it. There is no storage cost because the keys are created from a seed. I want to make sure I'm understanding you. So every time you send or receive in Mycelium, the wallet creates a new public and private key pair for that transaction, correct? That is why there are so many as time goes on? Yes that is mostly correct. Every time you receive bitcoins, the wallet will create a new address for the next time. Every time you send bitcoins the wallet will create a new address to send the change to. Thanks! |
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trasla
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November 14, 2014, 12:23:07 PM |
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Note that there is a "Mycelium Bitcoin Wallet" thread in this subforum. While it seems there are helpful people out here to respond quite fast (thanks!) thats the place where the mycelium team will notice your questions way faster  There is also an FAQ on our website ( over here), which does explain some stuff. You are of course very welcome to ask more questions if there are any problems |
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axel2078 (OP)
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November 14, 2014, 08:32:03 PM |
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Note that there is a "Mycelium Bitcoin Wallet" thread in this subforum. While it seems there are helpful people out here to respond quite fast (thanks!) thats the place where the mycelium team will notice your questions way faster There is also an FAQ on our website ( over here), which does explain some stuff. You are of course very welcome to ask more questions if there are any problems Thanks, Trasla. I didn't realize there were mycelium developers looking at that thread. Good to know! |
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trasla
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November 16, 2014, 10:20:46 PM |
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Well, at least it's in my watchlist, so I'll see new posts there whenever I check bitcointalk.org. Our community manager rassah is probably also monitoring that thread. Don't know how often the others check it, but if there is anything pressing you could of course also use mail or pm me.
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