Topic: MultiBit - page 2. (Read 336309 times)
Does it matter if I exported my private keys encrypted? Or should I keep them in plain text?
Multibit classic isn't really functioning "normally" now to be honest... it isn't supported, it isn't maintained... there are instances of people having wallets that won't unlock... I think the hard fork is the least of your worries 
Having your private keys exported and backed up somewhere is a step in the right direction. You'll be able to import them to whatever client you want to, whenever you want or need to.
Having your private keys exported and backed up somewhere is a step in the right direction. You'll be able to import them to whatever client you want to, whenever you want or need to.
It's a shame to see it fall into the developmental abyss like this. It was a kindly little wallet.
Multibit classic isn't really functioning "normally" now to be honest... it isn't supported, it isn't maintained... there are instances of people having wallets that won't unlock... I think the hard fork is the least of your worries
Having your private keys exported and backed up somewhere is a step in the right direction. You'll be able to import them to whatever client you want to, whenever you want or need to.
Having your private keys exported and backed up somewhere is a step in the right direction. You'll be able to import them to whatever client you want to, whenever you want or need to.
Ok assuming that my computer is safe, virus free etc. and I have the .wallet file and exported the private keys,
will the multibit classic client itself be functioning normally after the hard fork?
will the multibit classic client itself be functioning normally after the hard fork?
The only people likely to suffer "loss" as a result of whatever happens on Aug 1st are those that have their coins stored on exchanges, gambling sites, web wallets etc where their coins exist in an "account" where they do not directly have access to and/or control of the private keys controlling these coins.
As any fork will use the existing blockchain history, if you have your coins in addresses with private keys that you control, you will still have access/control of those coins post fork... regardless of which side of the fork you want to use.
As any fork will use the existing blockchain history, if you have your coins in addresses with private keys that you control, you will still have access/control of those coins post fork... regardless of which side of the fork you want to use.
Id rather stay on classic which is tested and proven secure for me unless there's a risk of losing bitcoins because of a fork.
So is there any risk?
So is there any risk?
Not if you leave them in the your mulibit classic address until after a fork. As long as you have backed up the private key (or .key file) from your mulibit classic address they are safe. If you haven't backed up and your hard drive fails, or gets infected with a virus, then you might lose your Bitcoins.
Id rather stay on classic which is tested and proven secure for me unless there's a risk of losing bitcoins because of a fork.
So is there any risk?
So is there any risk?
Hello,
I'm still using Multibit classic 0.5.17 and I have backed up my .walled file offline for security.
I'm reading all these news regarding the potential hard fork and I'm not sure what to do.
If I stay put and keep using Multibit classic will my wallet be safe after the hard fork?
I'm still using Multibit classic 0.5.17 and I have backed up my .walled file offline for security.
I'm reading all these news regarding the potential hard fork and I'm not sure what to do.
If I stay put and keep using Multibit classic will my wallet be safe after the hard fork?
UASF won't happen until 1st august but to be safe, all you need to do is having control your private keys. It's still suggested to stop using Multibit Classic though, and switch to something like Electrum.
Hello,
I'm still using Multibit classic 0.5.17 and I have backed up my .walled file offline for security.
I'm reading all these news regarding the potential hard fork and I'm not sure what to do.
If I stay put and keep using Multibit classic will my wallet be safe after the hard fork?
I'm still using Multibit classic 0.5.17 and I have backed up my .walled file offline for security.
I'm reading all these news regarding the potential hard fork and I'm not sure what to do.
If I stay put and keep using Multibit classic will my wallet be safe after the hard fork?
Who would use Multibit HD if they're not prepared to fix classic.
Multibit Classic was deprecated long before KeepKey took over the support of Multibit.
https://github.com/keepkey/multibit/issues/640
If you interested in keeping Multibit Classic alive, you are welcome to fork the repository and start working on it. If you can demonstrate you are a knowledgable and trustworthy member of the community, we can consider turning over control of the official Multibit classic repository to you.
And for the record, I don't recommend MBHD, either. Move your keys to electrum. No need to pay fees.
Send email to [email protected] for instructions on moving to your keys.
Who would use Multibit HD if they're not prepared to fix classic. KeepKey is a shit company. End rant.
Instead of being innovative, like Ledger did with their secure element design, KeepKey just forked Trezor open source code. They took the code, made some modifications, and built a business based on original work by Trezor. Welcome to cryptoland.
Who would use Multibit HD if they're not prepared to fix classic. KeepKey is a shit company. End rant.
Instead of being innovative, like Ledger did with their secure element design, KeepKey just forked Trezor open source code. They took the code, made some modifications, and built a business based on original work by Trezor. Welcome to cryptoland.
Who would use Multibit HD if they're not prepared to fix classic.
Personally, my vote goes to Electrum for HD wallet. You just create a new wallet using the "Standard Wallet" and "Create a new seed" option. Once it is created "Wallet -> Private Keys -> Sweep". Make sure you use a good fee! 
Electrum will actually let you run multiple wallets at the same time, so you don't need to sweep if you don't want to. You can just use the new HD wallet for all new deposits, and when you do you next spend from the Electrum with imported private key, just send the remainder to an address in the HD wallet at the same time. Achieves the same thing as sweeping but will save you a transaction fee
Electrum will actually let you run multiple wallets at the same time, so you don't need to sweep if you don't want to. You can just use the new HD wallet for all new deposits, and when you do you next spend from the Electrum with imported private key, just send the remainder to an address in the HD wallet at the same time. Achieves the same thing as sweeping but will save you a transaction fee
Code:
ie. imported address --|--> externalPerson
|
|--> HD Electrum address
|
|--> HD Electrum address
Creating a wallet using a public key will generate a watching wallet. Basically, it means you can see the deposits and withdrawals, but you can't make any withstands.
To withdraw or "spend" coins you must have a private key. So if you export your private key and import it you will definitely be able to spend any coins in that address.
As for the backup, by default, Electrum will generate what is called a "Hierarchically Deterministic" or HD wallet. This is just a fancy way of saying that given a set starting point, it can regenerate the same addresses/keys all the time. As opposed to older wallets like MB Classic that just regenerates random addresses.
The set starting point is known as the "seed" or "wallet words". This means you just need to write down your seed and keep it somewhere safe and you'll be able to restore your whole wallet just using the seed.
Because HD wallets generate a set list of addresses/keys, generally, you cannot import private keys. You need to "sweep" the key which effectively creates a transaction that sends from your old address to an address in your new wallet.
Electrum will allow you to create an "old style" private key only wallet that you can import into, but then you won't have a seed to be able to backup your wallet with. You'll need to make backups of your wallet file (and/or the keys)...
So, the best plan is create an HD wallet and then sweep the private key(s)... You'll have the security of a seed based wallet.
To withdraw or "spend" coins you must have a private key. So if you export your private key and import it you will definitely be able to spend any coins in that address.
As for the backup, by default, Electrum will generate what is called a "Hierarchically Deterministic" or HD wallet. This is just a fancy way of saying that given a set starting point, it can regenerate the same addresses/keys all the time. As opposed to older wallets like MB Classic that just regenerates random addresses.
The set starting point is known as the "seed" or "wallet words". This means you just need to write down your seed and keep it somewhere safe and you'll be able to restore your whole wallet just using the seed.
Because HD wallets generate a set list of addresses/keys, generally, you cannot import private keys. You need to "sweep" the key which effectively creates a transaction that sends from your old address to an address in your new wallet.
Electrum will allow you to create an "old style" private key only wallet that you can import into, but then you won't have a seed to be able to backup your wallet with. You'll need to make backups of your wallet file (and/or the keys)...
So, the best plan is create an HD wallet and then sweep the private key(s)... You'll have the security of a seed based wallet.
Ok..Thanks for the explanation. Now I understand some bit of how it works.
Anyway, I have already imported my private key into a new electrum wallet and its working fine now. Should I sweep my private key to some other HD wallet or keep using the electrum wallet which I just created? What would be better?
And if you suggest sweeping, which would be a good HD wallet that you recommend?
Creating a wallet using a public key will generate a watching wallet. Basically, it means you can see the deposits and withdrawals, but you can't make any withstands.
To withdraw or "spend" coins you must have a private key. So if you export your private key and import it you will definitely be able to spend any coins in that address.
As for the backup, by default, Electrum will generate what is called a "Hierarchically Deterministic" or HD wallet. This is just a fancy way of saying that given a set starting point, it can regenerate the same addresses/keys all the time. As opposed to older wallets like MB Classic that just regenerates random addresses.
The set starting point is known as the "seed" or "wallet words". This means you just need to write down your seed and keep it somewhere safe and you'll be able to restore your whole wallet just using the seed.
Because HD wallets generate a set list of addresses/keys, generally, you cannot import private keys. You need to "sweep" the key which effectively creates a transaction that sends from your old address to an address in your new wallet.
Electrum will allow you to create an "old style" private key only wallet that you can import into, but then you won't have a seed to be able to backup your wallet with. You'll need to make backups of your wallet file (and/or the keys)...
So, the best plan is create an HD wallet and then sweep the private key(s)... You'll have the security of a seed based wallet.
To withdraw or "spend" coins you must have a private key. So if you export your private key and import it you will definitely be able to spend any coins in that address.
As for the backup, by default, Electrum will generate what is called a "Hierarchically Deterministic" or HD wallet. This is just a fancy way of saying that given a set starting point, it can regenerate the same addresses/keys all the time. As opposed to older wallets like MB Classic that just regenerates random addresses.
The set starting point is known as the "seed" or "wallet words". This means you just need to write down your seed and keep it somewhere safe and you'll be able to restore your whole wallet just using the seed.
Because HD wallets generate a set list of addresses/keys, generally, you cannot import private keys. You need to "sweep" the key which effectively creates a transaction that sends from your old address to an address in your new wallet.
Electrum will allow you to create an "old style" private key only wallet that you can import into, but then you won't have a seed to be able to backup your wallet with. You'll need to make backups of your wallet file (and/or the keys)...
So, the best plan is create an HD wallet and then sweep the private key(s)... You'll have the security of a seed based wallet.
Neither. There is one private key per address that is contained in your wallet.
Ok..I checked it out. There is only one private key in my case. Thanks for your help.
I read your other posts also, and you've mentioned about creation of a new electrum wallet using the private key. But, I checked out the electrum website and it says that the wallet created using the private keys would be a "watching only" wallet. I couldn't understand what is that supposed to mean? Could you please explain?
Also, it mentions about backing up my new wallet after creating it (something like that), which I'm not sure how to go about. Please help me with these things. Thanks again for your reply.
Neither. There is one private key per address that is contained in your wallet.
Without the transactionID we can't really help. Post it here and we can investigate further.
What I can say is that you're using MultiBit Classic, which is very old and outdated... the fees it would have used would have been VERY low by today's standards, so I'm not surprised your transaction is stuck.
For low fee help, put your transaction ID in here: http://www.mocacinno.com/page/feechecker and you will get a number of options.
What I can say is that you're using MultiBit Classic, which is very old and outdated... the fees it would have used would have been VERY low by today's standards, so I'm not surprised your transaction is stuck.
For low fee help, put your transaction ID in here: http://www.mocacinno.com/page/feechecker and you will get a number of options.
Hey..How to switch to a new wallet from multibit 5.18? I don't want to send the money through the bitcoin network. Is there any workaround by which I can transfer my funds to a new and better wallet?
Please help me out.
If you are using multibit classic there's instructions explaining how to switch to electrum without moving your coins at this link.
https://bitcointalksearch.org/topic/m.19181835
Thanks a lot. So there is only one private key for every transaction?
Or one per wallet?
Without the transactionID we can't really help. Post it here and we can investigate further.
What I can say is that you're using MultiBit Classic, which is very old and outdated... the fees it would have used would have been VERY low by today's standards, so I'm not surprised your transaction is stuck.
For low fee help, put your transaction ID in here: http://www.mocacinno.com/page/feechecker and you will get a number of options.
What I can say is that you're using MultiBit Classic, which is very old and outdated... the fees it would have used would have been VERY low by today's standards, so I'm not surprised your transaction is stuck.
For low fee help, put your transaction ID in here: http://www.mocacinno.com/page/feechecker and you will get a number of options.
Hey..How to switch to a new wallet from multibit 5.18? I don't want to send the money through the bitcoin network. Is there any workaround by which I can transfer my funds to a new and better wallet?
Please help me out.
If you are using multibit classic there's instructions explaining how to switch to electrum without moving your coins at this link.
https://bitcointalksearch.org/topic/m.19181835
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