how electrum store Bitcoin in private keys?

Abdussamad

legendary

Activity: 3682

Merit: 1580

Quote from: holahapi on November 10, 2017, 09:49:11 AM

thank you pooya87 and HCP for detail explanation.

Is it when I receiving bitcoin, the Bitcoin only goes to the one address I gave, not other address in my wallet?

Yes it'll go to the address you gave the sender but when you spend your bitcoin they will be moved around. Some of them will be sent to change addresses. Electrum manages all this for you so you shouldn't fixate on addresses too much. All the addresses in your wallet are yours. Ideally you use a different address for each transaction.

If you want to know more about change then see the following two articles:

https://en.bitcoin.it/wiki/Coin_analogy
https://en.bitcoin.it/Change

More info about addresses and how to receive bitcoin in electrum:

https://bitcoinelectrum.com/frequently-asked-questions/#why-does-electrum-give-me-a-different-address-everytime
https://bitcoinelectrum.com/how-to-use-the-electrum-receive-tab/

holahapi

newbie

Activity: 14

Merit: 17

thank you pooya87 and HCP for detail explanation.

Is it when I receiving bitcoin, the Bitcoin only goes to the one address I gave, not other address in my wallet?

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: HCP on November 09, 2017, 07:02:18 AM

Quote from: holahapi on November 09, 2017, 02:45:07 AM

Does the Seed(Master key) can use in any bitcoin wallet software? such as Bitcoin core.

The seed mnemonic (aka 12 words) generated by Electrum when you create your wallet, does not conform to the BIP39 standard. As such, it can only be used with Electrum (I'm not currently aware of any other wallets able to import Electrum seeds)

you can't use the Seed but you can use the master private key that it generates (xprv...). you can get it by opening the unencrypted wallet file in a text editor and searching for xprv.
BIP32 derivation path "m/0" would work https://iancoleman.io/bip39/

seed from Electrum (for testing purposes only):

Code:

manual sun opinion tomorrow chapter pear asthma stadium session achieve soon script

BIP32 root key taken from the wallet file:

Code:

xprv9s21ZrQH143K2ZCszcNMNbGGVVzQ2FZPA4V7o1G8xQdhwtDh1B4vydLBXvtxSgoHyK37oxaXbXfbnK3aukpip1HX4E8GZh6Hmjx8C1uTqZm

BIP32 Derivation Path m/0 using https://iancoleman.io/bip39/

HCP

legendary

Activity: 2086

Merit: 4361

Quote from: holahapi on November 09, 2017, 02:45:07 AM

Does the Seed(Master key) can use in any bitcoin wallet software? such as Bitcoin core.

The seed mnemonic (aka 12 words) generated by Electrum when you create your wallet, does not conform to the BIP39 standard. As such, it can only be used with Electrum (I'm not currently aware of any other wallets able to import Electrum seeds)

Quote

I saw some threads that said that the private keys will be changed after transactions, is it true? or I misunderstanding?

Are you talking about addresses changing after each transaction? Private keys don't "change"... they will always remain the same. Some wallets will automatically give you a new "address" after each transaction to help prevent "address re-use" to help with privacy and, to a lesser extent, security. This new address will have a new private key... but all the previous addresses and private keys will still be stored in your wallet.

Quote

They private address generated by https://www.bitaddress.org is private key or master private key?

Fairly sure that bitaddress.org is only generating "private keys"... They will start with a "5", "L" or "K".

A "master private key" is usually generated by "Hierarchical Deterministic" or HD wallets and will start with "xprv"

holahapi

newbie

Activity: 14

Merit: 17

Quote from: pooya87 on November 08, 2017, 11:59:10 PM

there is no limit to the number of private keys, there is only a master private key (you see it as seed) and the wallet derives limitless private keys from that master key.

and bitcoin is not stored in your wallet or keys,... there is no bitcoin to store! there are only transactions and keys. transactions are stored on the "public ledger" called blockchain and the keys (the private key) is what you use to spend those transactions that belong to you.

https://bitcoin.org/en/how-it-works

Thank you for your reply

Does the Seed(Master key) can use in any bitcoin wallet software? such as Bitcoin core.
I saw some threads that said that the private keys will be changed after transactions, is it true? or I misunderstanding?

They private address generated by https://www.bitaddress.org is private key or master private key?

pooya87

legendary

Activity: 3472

Merit: 10611

there is no limit to the number of private keys, there is only a master private key (you see it as seed) and the wallet derives limitless private keys from that master key.

and bitcoin is not stored in your wallet or keys,... there is no bitcoin to store! there are only transactions and keys. transactions are stored on the "public ledger" called blockchain and the keys (the private key) is what you use to spend those transactions that belong to you.

https://bitcoin.org/en/how-it-works

holahapi

newbie

Activity: 14

Merit: 17

I am new to Electrum and Bitcon.
From my understanding, Electrum wallet have 26 private keys.

I wondering how does electrum store the bitcoin in the private keys?
does it store in a single private key?
or
distribute to different private keys?

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