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So if you bitcoin to enter the seed on the offline backup Got anything to say bitcoin the ledger missing features? How many people do you think own bitcoin? Last updated on March offline, at Hi Fabiano, thanks for the feedback. Now if for some reason you offline up losing your Bitcoin wallet — backup example, someone steals your mobile device.
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Thanks so much for taking the time to help me out. Installing a wallet directly on your computer gives you the security that you control your keys. Why to have a back-up? There might be some confusion in the user interface, I just opened it again myself and might have remembered the exact wording of the options wrongly. And I will warn people not to buy a Ledger until you push the firmware update enabling the features on the blue, it was just a money grab to rush the product out to the market before the coding was done. This subreddit is not about general financial news. Submit link NOT about price.
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You bitcoin also explore the Bitcoin Offline Single points of failure are bad for security. I too use Blockchain. How to Store Your Backup. How to Backup Wallet July 23,
Backup bitcoin offline
Please speak more slowly, no need to rush. I was able to understand from the written transcript…. Great video again, thanks a lot for your education.
I have only question about Blockchain. I see that you mentioned that we can do backup, so it looks they are secure for us. I am little confused, because there is to much different services which says they are wallets but they not.
Blockchain changed how they work about 6 months ago. When you set up a blockchain. Thanks for the feedback! Thanks Zsofia and Ofir, very quick answer. I done this, wrote my words and keep them safe. People are just concerned if BTC split in 2 chains, where is the best place to keep bitcoins. I already order a Ledger wallet, but I should wait until september. Do you recommend to create a paper wallet as offline safe option? Hi Miriam, if you want to buy Bitcoins, you can check out this article which has a lot of exchanges with reviews: Thanks for the great videos, I was wondering about the bitcoins in the hard drive that the guy threw away, so they gone forever?
Not just for him but never to be in circulation again? I wonder what percentage of bitcoins will never be seen again like that! Hi Atul, it is never safe to store your Bitcoins on an exchange in a hot wallet. And it should generate the same mpk. Then again delete the wallet and this time make sure you select "create watch only" instead of "restore from seed" and use the mpk instead of the seed.
Your telling me, that on an offline machine, with just your seed, it will generate the same addresses over and over shown in the client albeit with zero balance because it hasnt synced online? It can not show balances offline, this is obvious, but it will generate addresses and the same seed will always result in the exact same addresses. And it will generate an MPK. And the MPK generated by this offline wallet when brought to the online computer and there used in the "create watch only"-option will create a watch only wallet with all the exact same addresses and it will be able to show balances.
There is also a short instruction on the electrum website: So i proceeded to sync online and the addresses changed to the original ones. Of course all balances are 0 and will ever be because this is only created for demonstration purpose and not actually used. Can you reproduce these steps? If yes then try to make the same with a new seed. Seed on the offline PC and "create watch only" on the online PC.
Thanks, i tried what you said and it worked, so i tried mine again and its working now, i don't know where i went wrong before, but now i am happy with it and will be investing tomorow: Is there already money in the wallet?
Then you might need to expand the "used" category where it hides addresses that have already been used. It is generating new addresses when old ones have received payments, of course you can continue using the used ones, you just have to expand that category, its just encouraging you to use new addresses every time but not forcing you. The offline copy can create all these same addresses too if it needs to for example because you gave it a transaction to sign but by default it only shows the first 5 addresses but the normal use case is to use only the watch only version anyways to generate addresses and to create unsigned tx and the offline wallet is only used to sign the tx and not to display addresses and when asked to sign a tx it will figure out how many more to generate from the seed until it arrives at the one that is needed to sign, this happens automatically.
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