Topic: bitaddress.org - wallet question (Read 16036 times)

Altcoins.

Do your own research about the coin/token. Find the website/ANN thread and look for more informations about it.

CoinMarketCap.com is a good place to start looking for this. You can for example, see in each coin/token page if they are a Coin or a Token.

Are Monero and IOTA tokens or coins?

How to find out if one is a coin or a token?

Thank you guys for your help here!

Yes.

Since you are using MEW, you can simple follow the instructions in the "Send Offline" tab to generate your transaction and use the Step 3 to broadcast your transaction to other nodes. Just paste your signed transaction in the last box and press "Send Transaction".

is mnemonic phrase and seed phrase exactly the same things?

Thanks!
So it is not enough just to use ‘send offline’ tab when using MEW script in order to send coins - I need something that as you said ‘communicate with the network nodes’ right?

If so, then what should I use? Some
Web wallet?

Create the transaction offline (without a connection).

Then copy the completed transaction to something that communicates with Bitcoin peer nodes online.


This was already explained to you earlier in this thread:

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No.  It's just transporting a transaction physically instead of electronically.

How is it possible to send coins without connection?
Is this those smart contracts of ETH? That's what they are?

You are almost new to wallet services and you might make mistakes while generating private keys using these complex steps.
Use Myetherwallet.com, The easiest one oneline ethereum wallet creation hub even newbies feel it easy.
Do not forget to print paper wallet

Yes. If you are offline and your private key/wallet file never leaves the PC or touch the internet, your wallet is as safe as any other kind of cold storage.

When you want to spend your coins, use the "Send offline" tab and follow all the steps to generate a transaction, sign offline and broadcast it.

and in this way MEW will serve as a cold storage, right?

Use MyEtherWallet instead. I never heard of this paper wallet generator and haven't found anybody suggesting if the generation script it's safe or not (if could be but I honestly just prefer MEW).
You can download the source code here[1], unpack the zip file, open "index.html" (optionally without internet connection) and generate your wallet.

[1] https://github.com/kvhnuke/etherwallet/releases (etherwallet-vx.x.x.x.zip)

Thank your for your informative answers!

Is this an analog of bitaddress.org? https://github.com/ryepdx/ethaddress.org

If so, is it as reliable as bitaddress.org ?

In order to use, I just need to download it and run 'index' right?

.
The address is generated randomly with a very low chance to hit an existing address. You can recieve payments offline, but you must go online to send Bitcoin. Therefore you can import your private key into a wallet, that supports that. (Simplified answer of a nontechy, Hope it is right)

Correct.


The blockchain is just data.  It does not know anything.  It does not need to know anything.

You are now asking questions that require an understanding of the technical details of how bitcoin works.  "Addresses" don't actually exist at the technical level.  Neither does anything that could be called a "bitcoin".  Those are just abstract concepts that we humans use to make it easier to talk about transferring control over value.

Imagine for a moment that I write a note that says that I want to transfer control of my pencil to someone named "John Smith" who lives at the address of "123 Main St." with an ID number of "1S3FH45692".

How does the paper know that this person exists and that I can transfer my pencil to him?

The paper doesn't care.

Now imagine that somehow this note on paper could be made into a binding agreement that I could not change. If the person actually exists, then they could claim the pencil.  If they do not exist, then the pencil would be stuck unclaimed by anybody forever (or at least until that person eventually exists).

Bitcoin operates in a similar manner.

When I send a bitcoin transaction, the transaction has a section of data called the "output".  The output is assigned a value, and then is encumbered with a requirement that someone must meet if they want to be able to spend that output.  The blockchain doesn't care if that requirement can be met or not.  It simply records the fact that the requirement exists.

Then wallet software converts that requirement into a string of letters and numbers that we humans call an "address".

In the case of the typical P2PKH address that you commonly see with bitcoin (the addresses that always start with a 1), the requirement that the output is encumbered with is that the future spender MUST supply a digital signature that can be validated with a specific public key.  The instructions that explain this requirement are called a "script".  That script is then encoded into the address that you use.

When you tell someone your address, and they type it into their wallet software, the software has been programmed to use that type of address to create the appropriate output script that you will be able to satisfy since you control the private key and will be able to generate the necessary digital signature when you later want to spend that output.

If someone uses an "address" that wasn't properly generated from a private key, then the sending wallet software will create a requirement that nobody will be able to satisfy (since nobody will have the private key and therefore nobody will be able to create the necessary signature).

Okay, so it is possible to generate wallets in an offline mode without ANY connectivity using bitaddress

But how does the system (the blockchain) knows then that this address exists and you can send BTC to that address?

When I generate a paper wallet there, then I also can send their funds. It needn't be online, right?

Well, you can use their 'bulk wallet' feature and generate as many addresses as you need in a single click

I would choose exodus over jaxx anyday because of the fact that Jaxx has significant security flaws that essentially allows anyone that has physical access to your phone to access your altcoins without any sort of warning. And they seem to be fine with it. Exodus is much slicker in its design, and it has a very nice team of professional bitcoiners, as well as a responsive support. You also have control over your own private keys.

Bitaddress is a good service, albeit not a very convenient one. I would recommend using it but i would use electrum for anything less than 0.05 BTC. Bitaddress is usually used for offline storage, so each time you want to generate a new address you'd have to run the site in offline conditions and type in random characters and all that. As i said, it's a hassle to manage all your addresses if you are going to use them quite often.