Might as well replace the OP with the newest one
Mycelium 2.0 HD - Welcome to the future Address reuse is not for me
So I am waiting for HD
For even greater satisfaction
I want to label my transaction
And then there is a third temptation
Cold spend with zero confirmation
That's why I beg you, please:
Release!
-- Jan Dreske (Mycelium Developer anxious to get this thing out to the public)
Over the summer the Mycelium dev team has been working hard to make Mycelium 2.0 a reality. Our 200+ beta testers have given us great feedback and today, our biggest and most significant wallet update has finally been released for everyone.
Direct download:
https://mycelium.com/bitcoinwalletOn Google Play we use staged rollout, where it is released gradually over the next few days:
https://play.google.com/store/apps/details?id=com.mycelium.walletNew Features:
* Added support for BIP32/BIP44 compliant HD accounts based on a single master seed
* A much simpler backup that uses a word list to backup all your HD accounts (BIP39)
* No more address reuse, which greatly increases privacy
* You can label transactions in transaction history
* Transactions can be created with poor or no internet connectivity, and be broadcast later
* You can now have unlimited number of watch-only addresses
* Cold Storage spending now let's you spend unconfirmed inputs
What does HD mean?HD is short for Hierarchical Deterministic. Typically, bitcoin wallets generate each new bitcoin address from a unique random number, requiring a separate backup of each new address. To avoid losses from lack of backups, such wallets use a single bitcoin address for all your transactions. HD wallets instead use a “master seed” (a single large random number), to derive all future bitcoin addresses sequentially from that single seed. This means that you only need to make a backup once, and all the keys generated by an HD wallet can be restored at any time in the future just from that single master seed. HD wallets greatly improve your privacy by being able to keep generating new addresses. If you use the same address continuously all your transactions will be associated with a single address, and because all bitcoin transactions are public anyone can see what addresses you are sending funds to, and calculate your total balance. With an HD account new addresses are created whenever you send and receive funds, making your transaction activity and total balance very hard to track.
But I liked it the way it was! Will I have to change the way I use it?All your keys, addresses and address book entries will be retained when you upgrade your app. The tab previously named “Keys” has been renamed to “Accounts.” Your old bitcoin addresses will become single address accounts, and you can continue to use them as before. We do advise that you switch to new HD accounts, though. You will also see your first empty HD account, which you can start using right away.
What about previous backups? Do my old ones still work?Yes. You can still import keys and addresses you backed up with the previous version of Mycelium Wallet. However, we have removed the ability to create backups of single keys, or create new single addresses accounts. Instead, we advise you to backup your master seed and move your funds to the new HD wallet. As long as you keep your old backups, though, you will be able to recover your legacy accounts using Mycelium. To import a private key, switch to the “Accounts” tab, tap the icon with a key and plus symbol in the upper right corner, and select “Advanced”. Then scan your encrypted private key and enter the password.
Will I be able to continue to use my current Local Trader identity?Yes. Your Local Trader identity will get carried over to the new version when upgrading along with your private keys.
How do I make a backup?To create a backup, either tap the “Secure My Funds” button on the main page, or choose “backup” from the menu. You will be shown a list of words, one after the other. Write those words down with pen & paper. You then have to type in the words again, to make sure you got everything right. Store this word list in a safe place! Anybody who obtains this list can access current and future funds in your wallet!
Note: The backup procedure only backs up your HD accounts. Your classic single address accounts are not part of this backup procedure.
How do I restore a backup?If your phone is lost or damaged you can make a fresh install of the mycelium wallet on a different device. Upon startup, choose “Restore Backup”. Choose 12 as the length of your word list, and let the “password” checkbox unchecked, and proceed to enter your word list. This recreates your master seed and automatically creates and synchronizes your first HD account. It might take some time until your first account is synchronized and the balance updates. If you had more than one account, navigate to the “Accounts” tab, tap the button with a key icon and plus on the upper right corner, and choose “Add HD Account” to re-create your second account, etc. Note: This procedure only restores your HD accounts. To restore your classic accounts you have to manually import each key/address by going to the Accounts tab, click the + button, select Advanced, and then Import. If your previous Mycelium installation had a Local Trader account you can recreate your trader account and data by clicking “Buy/Sell Bitcoins”, select the “My Info” tab, click “Create” and select the account that your local trader identity was associated with.
Can I restore a BIP44 wallet created with other software?Yes. When you start a fresh install of the app you get the option to restore a backup. You can choose between word lists lengths of 12, 18, or 24 words, and also supply an optional password in accordance with BIP44. This way you can restore all HD accounts generated by other wallets compatible with BIP44 and BIP39. For instance, this allows you to import your TREZOR word list in case your device was lost or damaged so you can quickly move your funds to safety.
