Author

Topic: Can a offline wallet stop working ? (Read 625 times)

legendary
Activity: 3206
Merit: 1069
January 11, 2016, 07:08:18 AM
#8
use core, it is completely decentralized, right now i don't see the need to use any spv client, jus to save 60gb, when we have HDD with one tera that are sold for $10 on the market

also anyone has at least 2mb-4mb in speed connection, this is more than enough to synch
legendary
Activity: 4214
Merit: 4458
January 11, 2016, 07:06:35 AM
#7
But do Electrum they have access to our bitcoins / can steal them ?

no

they dont have access to the private keys themselves. (unless you downloaded a virus/hacked version)

but because their program does not connect to other random peers of the network, but connects to their server. if their server goes down you wont be able to push new transactions to the network.
so just be sure to backup your wallet/keys/seed so that you can use the wallet/keys/seed elsewhere, in the small chance their server dies
legendary
Activity: 2170
Merit: 1427
January 11, 2016, 07:06:27 AM
#6
if you have the seed/backup you can import that into any other wallet program

so dont reply on the program. just rely on the privatekey/seed which you should backup and keep safe


But do Electrum they have access to our bitcoins / can steal them ?
and how i make a backup ?

As long as you don't let your computer open and not have a virus in your computer, then no one will be able to steal your coins. All this is assuming you have the original client installed, and not a false one.
hero member
Activity: 868
Merit: 1000
January 11, 2016, 07:05:39 AM
#5
A offline wallet wont ever stop working, if you have the seed, you can always restore your bitcoins.

Just keep your seed /backup safe in multiple locations to be safe.
sr. member
Activity: 364
Merit: 250
January 11, 2016, 07:02:26 AM
#4
if you have the seed/backup you can import that into any other wallet program

so dont reply on the program. just rely on the privatekey/seed which you should backup and keep safe


But do Electrum they have access to our bitcoins / can steal them ?
and how i make a backup ?
there are plenty tutorials to make a back up, look it up. As far as i know no hardware Wallet can have its coins stolen unlkess you have the password and private key. So no electrum will not store your password and use it to take your btc/
full member
Activity: 215
Merit: 100
January 11, 2016, 06:20:24 AM
#3
if you have the seed/backup you can import that into any other wallet program

so dont reply on the program. just rely on the privatekey/seed which you should backup and keep safe


But do Electrum they have access to our bitcoins / can steal them ?
and how i make a backup ?
legendary
Activity: 4214
Merit: 4458
January 11, 2016, 05:58:43 AM
#2
if you have the seed/backup you can import that into any other wallet program

so dont reply on the program. just rely on the privatekey/seed which you should backup and keep safe
full member
Activity: 215
Merit: 100
January 11, 2016, 05:57:40 AM
#1
I mean wallet like Electrum
can the company  shut down this software or make changes that risk your coins  ?
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