now that there is no donation address, can we not just import the dumped priv key from the cold wallet payment address to another unsafe hot wallet, I tried this and imported the priv key into the new wallet, and seems to work fine.
If you send within the hot wallet from the imported address to another address within the same wallet, this will make the payment balance of the 1k cold wallet disappear but will keep the 1k bounty intact.
So, effectively the 2 wallets are twinned by 1 mutually exclusive address.
wondering is this a 100% secure way of receiving masternode payments to an unsafe hot wallet, as the priv key for the 1k is still safe in the cold wallet that never has to be started up, am I missing anything, anyone ?
This is intriguing. So let me lay this out graphically so I can understand.
Original MN Wallet New Wallet
1000 coins in key A
Dump private key A
Import private key A
Send funds from key A to key B
Key A has 0 coins Key B has 1000 coins
Rewards deposit in Key A Rewards deposit in key A
Am I close on this? I think the original wallet would then be your hot wallet with spendable rewards. The new wallet would have the 1000 coins and would stay cold.
Do both wallets need the same password? Seems like something that could pose a problem.
Yep, I said the same a few pages ago, we are thinking the same,
https://bitcointalksearch.org/topic/m.12211403And my question still stands,
is there any security threat for the cold wallet by sharing only one private key between 2 wallets to use as a donation address,
anyone, please ??I don't understand how this can work. The payments always go to the wallet address, or address, that has the 1000 coins. If you send those coins to another address, that will be the address the payments are sent to, or worse, your masternode will no longer work, because you sent the coins out. I don't understand the logic?
Unless what you're trying to say is you can import your private key into another wallet and access the coins, but that just puts the whole - what should have been cold - wallet into a more easily stolen situation.
I would never continue to use an account address that has had it's private key exposed via being typed into a wallet. Maybe nobody can see, but I'm very paranoid. I would only use a private key to recover coins, then send them on to a secure wallet afterwards.
Even still, I don't understand the logic of the first idea? Because remember, the moment you move your coins out of your masternode address, the masternode ceases to work.
It works, I have tried it (but only on hot wallets so far!)
Do not confuse the 1k bounty private key with the 'donation' payment private key, they are separate entities.
You are only twinning one shared key between 2 wallets. Try it on 2 other wallets first, with listen=0 and run them at the same time, you will see what I mean.
Good morning ,btw.
Edit: Its an odd thing having only 1 shared address because if you move the coins around in same wallet using coin control, it can change the balance of the other wallet , but only 1 wallet of the 2 wallets balance has the potential to change at a time.(you must change the shared key for this to happen otherwise there is no change in both wallets)