Bitcoin Core HD Wallet | Bitcointalksearch.org

bob123

legendary

Activity: 1624

Merit: 2481

Quote from: HCP on October 06, 2020, 03:24:01 AM

Do you want to give up some privacy by using Electrum (or other lightweight SPV wallet) [...]

Just a small remark.. while most lightweight clients do heavily invade the users privacy (including electrum), there are still lightweight clients available which do preserve the privacy.

The most recommendable would be wasabi. But samourai (as a mobile wallet) is a pretty good candidate too.

If OP is looking for a wallet which has a simple backup mechanism in form of a mnemonic code while also not giving up on privacy, wasabi would be my #1 wallet.

HCP

legendary

Activity: 2086

Merit: 4318

Quote from: AndiHD on October 05, 2020, 06:51:32 AM

So should I stick with Bitcoin Core or migrate to Electrum?
I like the way to just store a small seed phrase.

What exactly do you need/want from your wallet? Huh

Is it purely the ease of a seed mnemonic backup/restore that you're looking for? Do you want to run a full node with 350gig+ storage requirements? Huh

Do you want to give up some privacy by using Electrum (or other lightweight SPV wallet) and not having to store full blockchain? Huh

Maybe have a go at using the "wallet picker" here: https://bitcoin.org/en/choose-your-wallet

That might help point you in the right direction for a wallet that best suits your requirements.

nc50lc

legendary

Activity: 2534

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Self-proclaimed Genius

Quote from: AndiHD on October 05, 2020, 06:51:32 AM

So should I stick with Bitcoin Core or migrate to Electrum?
I like the way to just store a small seed phrase.

It's up to your preference. Based from the second sentence, it's Electrum that you need.
You can still maintain your full privacy if you use your fully synced Bitcoin core as a personal server for Electrum instead of using the public servers.
Server links, guides are in "readme" file:

Is there any other feature that you're looking for?

AndiHD

newbie

Activity: 5

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So should I stick with Bitcoin Core or migrate to Electrum?
I like the way to just store a small seed phrase.

HCP

legendary

Activity: 2086

Merit: 4318

Bitcoin Core relies on backups of the wallet.dat.

Attempting to use other methods (backing up individual private keys or exporting Master Private Key etc) is likely going to cause problems down the line with either missing keys (and therefore missing funds) or just a hassle trying to restore your wallet.

While not strictly necessary, taking a regular backup of your wallet.dat is an easy way to make recovery less problematic.

Abdussamad

legendary

Activity: 3640

Merit: 1571

Quote from: AndiHD on October 03, 2020, 03:07:54 PM

What's the "inactivehdseed" in dumpwallet?
My wallet is encrypted since day 1.

it's the old hd seed from before you encrypted the wallet for the first time. see what adolfin said in post 4 above.

the wallet is automatically created when you first run bitcoin core and is unencrypted until you set a password.

AndiHD

newbie

Activity: 5

Merit: 0

What's the "inactivehdseed" in dumpwallet?
My wallet is encrypted since day 1.

AdolfinWolf

legendary

Activity: 1946

Merit: 1427

Quote from: AndiHD on October 03, 2020, 01:38:39 PM

Can I export the master private key?
So that I can store the information on paper?

For that you can use the

Code:

dumpwallet "path"

command. https://bitcoincore.org/en/doc/0.16.0/rpc/wallet/dumpwallet/

However, you should note that you cannot recover your keys with just the MPK within bitcoin core.

If you wish to recover with just the master private key, a third-party library will be required.

AndiHD

newbie

Activity: 5

Merit: 0

Can I export the master private key?
So that I can store the information on paper?

AdolfinWolf

legendary

Activity: 1946

Merit: 1427

Quote from: AndiHD on October 03, 2020, 10:47:26 AM

I use the lastest version:
Bitcoin Core Version v0.20.1.

The wallet was created 2 weeks ago.
What about password change. Does this invalidate the HD wallet?

No, changing the password does not affect your wallet seed. Your seed will only change if you traverse from an unencrypted wallet to an encrypted wallet. (eg: No passphrase -> passphrase)

See: https://bitcointalksearch.org/topic/m.49271427

AndiHD

newbie

Activity: 5

Merit: 0

I use the lastest version:
Bitcoin Core Version v0.20.1.

The wallet was created 2 weeks ago.
What about password change. Does this invalidate the HD wallet?

AdolfinWolf

legendary

Activity: 1946

Merit: 1427

As long as your wallet has been created after 0.13 (If you created it between 0.13-0.16, please check if you've actually created a HD wallet!) and you have not imported any private keys.

AndiHD

newbie

Activity: 5

Merit: 0

Is Bitcoin Core using a real HD wallet?
So I can backup the first wallet.dat and that's it?
(like Electrum does with the seed)

Otherwise I have to backup the wallet too often.

Topic: Bitcoin Core HD Wallet (Read 219 times)