Green Wallet | Bitcointalksearch.org

internetional

legendary

Activity: 1442

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Quote from: mk4 on December 19, 2020, 01:15:22 AM

Because Blockstream Green uses multisig, with you having only 1 of the 2 keys, meaning that you can't simply just restore your wallet backup to other wallet software like Electrum. The backup pretty much only works on Blockstream Green. So when Blockstream Green closes down anytime soon for whatever reason(I completely doubt it, but still the possibility is there), you pretty much lose access to your funds completely.

This also results in another problem. Green force-closed my Lightning channel and sent my sats to a p2wsh address which doesn’t belong to me fully (it cannot be derived from my seed phrase, and the sats on it cannot be spent via another wallet software). In Green, I have to request to “sweep funds” from this address in order to receive them to my onchain balance. But this operation always fails.

Blockstream knows about the issue:
- a user reported the problem in their Telegram chat more than a month ago;
- another user reported the problem in their Github almost two months ago.
But the problem still persists.

Be extremely careful with this wallet.

ranochigo

legendary

Activity: 2954

Merit: 4158

Quote from: TryNinja on December 25, 2020, 02:32:33 AM

You are right. But even though that's the case, it looks like your coins aren't really gone if they go down or close their doors.

From your link:

Yeah. Hypothetical scenario is that they go rogue and stop issuing their signed nlocktime. I prefer 2 of 3 over this though it requires more security on my part.

TryNinja

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Activity: 2758

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Quote from: ranochigo on December 25, 2020, 02:10:48 AM

No exactly. They offer 2-of-2 primarily, at least for their implementation with Blockstream. There is 2-of-3 but most would use 2-of-2 because it is what they are offered by default.

https://help.blockstream.com/hc/en-us/articles/900001391763-How-does-Blockstream-Green-s-multisig-security-work-

You are right. But even though that's the case, it looks like your coins aren't really gone if they go down or close their doors.

From your link:

Quote

If you lose access to your 2FA method, or the Blockstream Green service becomes unavailable, then the account recovery process is different depending on the type of account you are using:

2-of-2 Bitcoin
Uses nLockTime

[...]

Bitcoin Standard Account Recovery (nLockTime)

The recovery process for Bitcoin standard accounts requires pre-signed nLockTime transactions. If you have set an email address for recovery in your wallet’s settings, these nLockTime transactions will be emailed to you whenever you make a transaction.

Note: You must set an email address in advance to be able to recover a Bitcoin 2-of-2 account.
If you have not made any transactions within the timelock period (default 12 months), then the nLockTime transactions can be used to move your funds without requiring a signature from key 2 on the Blockstream servers.

To ensure that your wallet is always secured by 2FA, the app will request a redeposit for any funds that haven’t moved for the duration of the timelock period.

ranochigo

legendary

Activity: 2954

Merit: 4158

Quote from: TryNinja on December 25, 2020, 02:03:38 AM

Isn't Green Wallet a 2-of-3 multisig where you have 2 of the keys while they have the other one? You can restore it on another wallet or manually sign your transactions if they go down. Here is their FAQ: https://greenaddress.it/en/faq.html

No exactly. They offer 2-of-2 primarily, at least for their implementation with Blockstream. There is 2-of-3 but most would use 2-of-2 because it is what they are offered by default.

https://help.blockstream.com/hc/en-us/articles/900001391763-How-does-Blockstream-Green-s-multisig-security-work-

TryNinja

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Activity: 2758

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Quote from: mk4 on December 19, 2020, 01:15:22 AM

Because Blockstream Green uses multisig, with you having only 1 of the 2 keys, meaning that you can't simply just restore your wallet backup to other wallet software like Electrum

Isn't Green Wallet a 2-of-3 multisig where you have 2 of the keys while they have the other one? You can restore it on another wallet or manually sign your transactions if they go down. Here is their FAQ: https://greenaddress.it/en/faq.html

libert19

hero member

Activity: 2464

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You would get much better help and find resolution in their telegram group.

Husires

legendary

Activity: 1582

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Stop using Green Wallet because you will not be able to claim any hardfork if it happens that you are unable to export the private key. fees are above average.
There are risks associated with being blackmailed by the company, although this is unlikely.
The idea of a multi-signature is useful if you identify the parties that can get those keys and choose to trust them and not be forced to do so.

pooya87

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Activity: 3430

Merit: 10505

Quote from: ranochigo on December 19, 2020, 02:22:50 AM

Quote from: mk4 on December 19, 2020, 01:15:22 AM

Because Blockstream Green uses multisig, with you having only 1 of the 2 keys, meaning that you can't simply just restore your wallet backup to other wallet software like Electrum. The backup pretty much only works on Blockstream Green. So when Blockstream Green closes down anytime soon for whatever reason(I completely doubt it, but still the possibility is there), you pretty much lose access to your funds completely.

It think it works similarly to a Greenaddress wallet. They will generate a transaction with a pre-signed nLocktime transction so you can use it to recover your funds.

That being said, I would never touch anything like this. This feature essentially turns it into a custodial wallet if they ever refuse to issue you the pre-signed nlocktime transaction and even if they do, they can refuse to sign the transactions that you can and force you to wait the pre-determined time before you can recover your funds.

Anything that comes from a company that runs a business is going to always be centralized and should be avoided. Blockstream is not an exception. In fact this is one of the many reasons why this wallet was removed from bitcoin.org ever since it changed ownership and the code was modified significantly that nobody reviewed it after the change.

ranochigo

legendary

Activity: 2954

Merit: 4158

Quote from: mk4 on December 19, 2020, 01:15:22 AM

Because Blockstream Green uses multisig, with you having only 1 of the 2 keys, meaning that you can't simply just restore your wallet backup to other wallet software like Electrum. The backup pretty much only works on Blockstream Green. So when Blockstream Green closes down anytime soon for whatever reason(I completely doubt it, but still the possibility is there), you pretty much lose access to your funds completely.

It think it works similarly to a Greenaddress wallet. They will generate a transaction with a pre-signed nLocktime transction so you can use it to recover your funds.

That being said, I would never touch anything like this. This feature essentially turns it into a custodial wallet if they ever refuse to issue you the pre-signed nlocktime transaction and even if they do, they can refuse to sign the transactions that you can and force you to wait the pre-determined time before you can recover your funds.

mk4

legendary

Activity: 2716

Merit: 3817

🪸 NotYourKeys.org 🪸

Quote from: chainofzee on December 18, 2020, 07:04:52 PM

yes it's ios. Thanks.

And could u tell me the reason for not using the green?

Because Blockstream Green uses multisig, with you having only 1 of the 2 keys, meaning that you can't simply just restore your wallet backup to other wallet software like Electrum. The backup pretty much only works on Blockstream Green. So when Blockstream Green closes down anytime soon for whatever reason(I completely doubt it, but still the possibility is there), you pretty much lose access to your funds completely.

With that said, as long as you're just going to use Blockstream Green as your hot wallet(probably $300 worth of bitcoin at maximum), you're going to be fine. If you hold larger amounts of bitcoin, then a hardware wallet like Ledger[1] or Trezor[2] would be the superior choice.

[1] https://ledger.com/
[2] https://trezor.io/

Baofeng

legendary

Activity: 2576

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Quote from: chainofzee on December 18, 2020, 07:04:52 PM

Quote from: BitMaxz on December 18, 2020, 06:41:07 PM

From what OS did you get this error is it from IOS or Android?

It looks like a connection issue. Are you sure that you are not using a fake green wallet?

If you sure that you are using the legit wallet try to update the app and restart the device on IOS. For Android try to clear the cache of that app and reboot the device(Note green wallet from Android is buggy).

If you don't have any funds yet I suggest you switch to other wallets like BRD or Mycelium for IOS and Electrum or Mycelium for Android OS.

yes it's ios. Thanks.

And could u tell me the reason for not using the green?

I'm using Green wallet on Mac, no issues, however, I haven't try the mobile version. His not telling you to not use Green, what @BitMaxz is suggesting is to try other wallet that is more stable on IOS like Bread or Mycelium. You don't want to stick to one wallet, there are a lot of wallet out there, you might want to try it as well.

chainofzee

jr. member

Activity: 36

Merit: 14

Quote from: BitMaxz on December 18, 2020, 06:41:07 PM

From what OS did you get this error is it from IOS or Android?

It looks like a connection issue. Are you sure that you are not using a fake green wallet?

If you sure that you are using the legit wallet try to update the app and restart the device on IOS. For Android try to clear the cache of that app and reboot the device(Note green wallet from Android is buggy).

If you don't have any funds yet I suggest you switch to other wallets like BRD or Mycelium for IOS and Electrum or Mycelium for Android OS.

yes it's ios. Thanks.

And could u tell me the reason for not using the green?

BitMaxz

legendary

Activity: 3206

Merit: 2904

Block halving is coming.

From what OS did you get this error is it from IOS or Android?

It looks like a connection issue. Are you sure that you are not using a fake green wallet?

If you sure that you are using the legit wallet try to update the app and restart the device on IOS. For Android try to clear the cache of that app and reboot the device(Note green wallet from Android is buggy).

If you don't have any funds yet I suggest you switch to other wallets like BRD or Mycelium for IOS and Electrum or Mycelium for Android OS.

chainofzee

jr. member

Activity: 36

Merit: 14

hey there

hope u all good.

i got 2 warnings today:

1- send_raw_tx exception:reconnect required
2- assertion failure:../src/ ga_session.cpp:get_signer

was it only a connection problem or sth else?

Topic: Green Wallet (Read 314 times)