Topic: How to redeem Casascius using Electrum (Read 662 times)

To keep the private keys offline, it doesn't matter if you update Electrum before entering your seed phrase. But you'll have to make absolutely sure the system stays offline until you turn it off. A physical network cable is obvious, Wifi needs more attention. Note that creating seed words on a system that has been online could mean the seed is compromised already.

You probably don't have to update Electrum each time: a slightly different version number is okay for signing transactions.

Think of it as seed seat belts: I've used them many times, but never needed them. But I keep using them, for the one time they'll save me.

How about BIP38 encryption? Bitaddress encrypt and decrypt this (offline). No need to sweep the funds online, you can still sign offline.
If you use this, make sure to test recovering your private key before funding your address!

If there's malware, you'll be too late.

The thing is... Electrum comes pre-installed with Tails, but it is not the latest version. So if you update Tails on a "Persistent Volume" to the latest version of Electrum, then you effectively void the benefit of having a clean boot every time you use that "Persistent Volume"? (Asking, because I do not know)

I have swept many coins from Paper wallets to Electrum without any problems..... but I guess I have just been lucky. I am still looking for a program that can encrypt a "Private Key" offline and then when it goes online.... that program decrypt it and sweep the keys.  

After I sweep a key... I quickly transfer the coins to another Bitcoin address.... because I am just paranoid. 

An unconfirmed status means that the transaction has been successfully broadcasted and it will now find it's way to the different mempools where it will wait to be picked up by miners and included into a block. This is true both for transactions paying 1 sat/vByte and 1000 sat/vByte for mining fees. Bitcoin transactions are not instant (in terms of confirmations) and your transactions can't get its first confirmation at least until the next block is mined. So don't worry about the unconfirmed status.

Yes. My last post was about a test (I had first send from an exchange a small amount of bitcoin to Electrum AND send it after from Electrum to the exchange). It was only to be sure it was ok from end to end.

But it's ok for the private key. It was indeed a typo mistake. Sorry for this rookie's mistake.

Thanks.

In your previous post, you said that you made a transaction to an exchange and now you say you can't import your private key into electrum.
Am I missing something here?

The "next" button in Electrum is only available if the private key is correct. Check for typos.

Last time I tried, only the private key was enough to import a legacy address.

I have put my private key on the dialog box for "Import private ket" but it's impossible to push on the "Next" button.
Is there something missing ?

They speak on the info part about p2pkh:

Can you tell me exactly what I have to put ?

Thanks.

If you are not in hurry, just wait. There is no need to waste more money on transaction fee.
If you are in hurry, right click on your transaction and select "Increase fee". Currently, you need to pay around 15 sat/vbyte if you want your transaction to be confirmed in the next block. (A new block is mined every 10 minutes on average.)
Note that the fee rate required for a fast confirmation depends on network state and changes over time.

Hello guys,

I have done a transfer from Electrum to an Exchange.

However, it puts "Unconfirmed".
I guess it's because I haven't put enough but someone can explain what I have to do here ?

Thanks.

Ouf. Ok I feel better now
Anyway, I will check the procedure for verifying Electrum (a little challenge ^^)

Thanks for your help.

Ah, so what you meant in the previous reply is when you select "import bitcoin addresses or private keys"?
If that's the case, then it's normal.

If you can remember, the other standard wallet that you've created asked for a password in the last step of the install wizard.
Any wallet type is the same, the password will be prompted in the last step.

@nc50Ic --> It seems that Ricks said that "After importing your private key in Electrum you'll be prompted to choose a password for the wallet. "

So a priori what I have is good no ?
--> I mean. For the moment, I haven't import my private key. So (according to rick), it's normal that they haven't asked the password yet because it's the next step...

Then you either missed the last step where it prompts you to enter a password or you're using a fake Electrum
since the Desktop version doesn't have "password unification" like the Android version.

No. I will use macOS (a priori)

That's normal if you're using the Android version;
That's not normal if you're using the Desktop version.

So it seems like you're using an Android device to claim your Casascius coin's bitcoins... that's concerning.

@NeoArkan
Electrum asks you to "set" a password when you are  creating the wallet for the first time and you have 2 choices there:
1. To ignore this option in which case you won't be asked to enter a password whenever you open that wallet.
2. To set a password here which means from now on whenever you open the wallet or want to spend from it you'll have to enter the password

If you are seeing a password box when opening wallet_a that means you did #2 when creating this wallet and you did #1 for wallet_b but in both cases the prompt was shown for the first time during creation.

To the best of my knowledge, Electrum always asks you for a password whenever you create a new wallet or import private keys. You can, however, skip that section (just click Next) and the wallet will be left with no protection.
I've just tried with Electrum (importing a private key from a fresh seed) and I was also asked to choose a password to protect the wallet file.
As stated on the help docs[1], and assuming you didn't move the wallet elsewhere, all the wallets are created in the datadir folder by default. To reach there just follow these steps:
After importing your private key in Electrum you'll be prompted to choose a password for the wallet. After choosing a password (or skipping it) you'll be shown the usual window where Electrum will show you the balance on your wallet and all recorded transactions. Since it's a Casascius coin you'll see a single transaction that is the one responsible for funding the address (in this case with 1 BTC).

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[1] https://electrum.readthedocs.io/en/latest/faq.html#datadir

One other question :

On the Electrum Wallet, when I open it there's the choice between opening the current standard wallet (let's call it "wallet_a") and a password is needed or "Alternatively" Create a new wallet.

-If I Choose the option "Create New Wallet" (let's call wallet_b)
-When the dialog box asks "What kind of wallet do you want to create ? " --> I have to choose "Import bitcoin addresses or Private keys"
-Enter the private key of the "Cascasius" coin in the dialog box and click on "Next"
-After that, my Electrum wallet (the new one then) should show exactly 1.BTC as balance and I will have the possibility to send the amount on the exchange platform of my choice

However, what I think strange is :
-For opening the standard wallet already created I need a password
-When I create a new wallet (for importing the key) they don't ask me for a password for the new wallet. Is it normal ?

Therefore :
-How do I find the wallet_b (the one created by "importing private key" in case I close Electrum. I ask that because they don't ask for password
-I want to be sure when I click on "Import private key" that there is access to a new wallet with the possibility to "Send" to an Exchange

Sorry if it seems stupid but the absence of password for the new wallet when import keys worries me a bit.

Thanks for your answers.

As far as I'm aware in order to obtain the private key associated with your Casascius coin you just need to calculate the SHA-256 hash of the string that's beneath the sticker. As demonstration purpose only, I'll use this example[1] where we'll obtain the private key and have access to the public address of where the 5 BTC came from (Since this coin was already redeemed, I'll just use online services to exemplify. Please do not follow my actions and instead download offline versions (if possible) and run all the process in an air-gaped device that was never connected to the internet):

• According to the pictures we are able to see that the mini private key - 22 characters - is the following:
  
  Quote
  Symc
  R374ukW
  S48XCfEN
  rDPGaYa
  gFpG
• If we use the command line in Linux we can extract the SHA-256 hash by just using the command - "$ echo -n "SymcR374ukWS48XCfENrDPGaYagFpG" | sha256sum". Another way would be to use an online service[2] - Again, only for demonstration purposes!
  In either case this would be the private key associated with the previous mini private key:
  
  Quote
  c8403200856b5ec4c650950a7b265c089068b20b2219d0f8fcc063d8d34d0474
• If we go to "TP's Go Bitcoin Tests - Address" page[3] and paste the previous result in the "0 - Private ECDSA Key" field and click Send, the last field in the website (9) will give us the corresponding Bitcoin address:
  
  Quote
  1CsBms7CvSciPeW64HWorVYcqwGVsFGoLP

If you check the transaction posted by the blogger you'll see that the previous address matches with the one that is involved in sending 5 BTC to another address of the blogger[4] (BTC value at the time was ~92 USD), thus confirming that you'll get a hold of the private key of your coin - and the coins within it - if you determine its SHA-256 string (in a safe environment) and proceed to import it to other wallets if you so desire.

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[1]https://n2liquid.wordpress.com/2013/03/09/redeeming-of-a-casascius-coin-aka-physical-bitcoin/
[2]https://emn178.github.io/online-tools/sha256.html
[3]https://gobittest.appspot.com/Address
[4]https://blockchair.com/bitcoin/transaction/64d1f5e47428f29dc24e5776a47d6e80d12b7c70c3c11547b70c28c4d51fc891

You can use bitaddress.org (offline!) to convert a mini private key into a normal private key, which you can then use in any wallet you like. To be thorough: don't go online again with that machine without wiping it.