Topic: Multibit Classic reliability (Read 1333 times)

Fair enough.

Not really.

For quite a while in the Classic preferences you could enter the fee (BTC/KB) that you wanted.
It created problems mainly because of internationalisation - dots and commas for the decimal separator.

For a long time the lowest relay fees worked fine so we dropped the fee preference.

This is why is the fee preference is set using a slider as it removes I18N issues and stops people putting a fee of, say 1BTC.

This is a post from 2 years ago.


It seems this fix is a long time coming..

Backporting the fee slider changes that are going into the next version of MultiBit HD to Classic:
https://github.com/jim618/multibit/issues/710

If you want to see the 'State of the network' this is a great page:

https://tradeblock.com/blockchain

You can see (bottom right) the fees in real time to get a feel for what's happening.

I've been doing some lurking and I'm hearing 0.0005 is a good minimum fee. I'd personally like to up that by a magnitude just to make sure.

Ok thanks dude.

At the moment the fixed rate of 0.0001 BTC per KB is just at the rate that spam has been appearing at so transactions are confirming. Not terribly quickly admittedly.

It's something we are going to have to keep an eye on definitely.

Quick question: MultiBit Classic doesn't let you increase the miners' fees included in the transaction. (Correct me if I'm wrong.)  Any plans to update that? I'd prefer to send my coins to a new wallet eventually and don't want to be hanging around for blocks and blocks.

Thanks.

 


Secret message: I've hidden ten Mars candy bars in your closet.

MultiBit Classic has been an excellent workhorse over the years (It has it's fourth birthday next week !) and we will do periodic network and safety updates as necessary to keep it operational. All the good stuff will be going into MultiBit HD though.

Keeping your bitcoins secure basically boils down to keeping your private keys safe and intact.
Because MultiBit Classic has random private keys there is no getting round keeping backups (we recommend at least two copies of both the wallets and private key exports stored off your main machine).

A useful way to reassure yourself that your backup strategy is effective is to try it out on another computer.
Imagine your laptop/ main computer has died or is stolen and check you can recover your bitcoins on the second computer.

If your backup strategy works well then that shows that there is no need to change your Bitcoin wallet.


However we think deterministic wallets are better all round which is why we created MultiBit HD.
(Also Electrum, Armory, Mycelium, Schildbach Bitcoin Wallet and many others now use deterministic wallets.)

Hardware wallets are better again which is why we have added Trezor support to MultiBit HD.

If you have a birthday coming up why not treat yourself to a Trezor from https://buytrezor.com and try it out ?
It is compatible with various wallets and means your private keys do not touch your main computer.
You can try it out with a small amount of bitcoin (perhaps over several months) before committing larger amounts of bitcoin to it.

Hi everyone.

I've been using Multibit Classic for several years now.
I have the latest version 0.5.18

Is this client reliable for the long term ?
I have noticed that it is deprecated and there is the new version (Multibit HD).
I am not too keen of changing anything as I am very satisfied with the classic version.
My only concern is reliability and preventing any form of corruption.
Off course I am aware to always have fresh backups of the private keys on a regular basis. What worries me is the experiences that have been encountered by some users with previous versions posted on reddit where during new outgoing transactions coins would be lost irreversibly. A backup is thus useless as coins have been freshly split to new split address(es) that the software doesn't recognize and control. I am not an expert on the technicalities and apologize if it is more subtle.
Is there a slight remote chance of some form of corruption (unknown bug) occurring with thousands of incoming and outgoing transactions in then long term ?
Basically this is where my stash is and I am getting concerned.

Thanks.