Topic: Nub with offline wallet questions (Read 967 times)

Looks like all your 7 questions have been answered, but it seems to me you have misunderstood the term "offline wallet". For an offline wallet, you should keep it offline all the time, and it should be used to sign your transaction only. You should broadcast the transaction in another computer that has internet connection.

Ow guys, thank you so much for answering! I really appreciate it, and Im sorry Im just online again..

@Dannyhamilton, absolutely, yes I will choose one between electrum or multibit, I just used them recently so I need a little try and error before i decide which one im goin to use, thank you!

@Herbert2020 & @Dannyhamilton, Thats cool, I dont really know if "private keys" can do much farther than just securing our wallet. so from there, it means I can just easily "move" my btc from online wallet to my offline wallet without have to send them through our online wallet, right?

aright, this shoud be enough for me right now, thank you so much!

No.

When sending, you only need to keep it online until the transaction has been broadcast to the network.


It is always risky to have a wallet on a computer that connects to the internet.  You need to be careful and make sure that you do not have any malware on the computer and that you are protected from hackers.


Yes.


Then you need to be online when you send the transaction.


A transaction has either been broadcast, or it has not been broadcast.  It can't be "half" broadcast.


That is true of ALL wallets.  That is how bitcoin works.


No.  MultiBit doesn't have any servers.  MultiBit software is peer-to-peer.

With either wallet, it is possible to export your private keys and import them into some other wallet if necessary.


It won't hurt, but I don't see any benefit.  Choose the one you like better and then just use that one.  Why would you want to use the one that you like less?


That should be fine.

no, only when you want to send from that wallet and only when you want to check the new balance

as i said you dont need to online

your wallet just handles your transactions.

you can always check your balance, transactions and other stuff with online block explorers to see what is happening.

as long as you have your "private keys" you are safe. which means you can import them in any other service and use your bitcoins

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6) Is it wise to use 2 diffrent wallet client on same machine? I mean if 1 client is compromised/ corrupted will it affect to the other client?

7) I have 2mbps internet connection, yes its slow, will it affecting to my wallet performance or transaction?
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what you send and receive with your wallet is not that much especially since you are using a lightweight wallet. so no

Hi guys, I really sorry if its already answered but somehow I cant find the right place to look.

Ok, so I decide to use multibit & electrum for my offline wallet because it look like they didnt need to download the whole BTCcore since I have very limited internet connection and limited hardisk space.

so heres my questions:

1) do I need keep my wallet online when I send/ receiving btc and wait until the confirmation is finish.

I once move my btc from blockchain.i to coinbase it took almost 3 days to finish the whole transaction (I set the transaction to the lowest fee (365 satoshi)  before I made the transaction )
Im asking this because I have limited internet connection, I cant go online for 24 hour or more. that woud be impossible to wait that long.

And If yes we have to go online on transaction, isnt it pretty risky for doin that?

2) What happen if someone send me bitcoin but my wallet is offline. lets say Im not online for 2 weeks   !
will the coin arrived after I go online and the wallet synchronized or not. And what happen if Im the sender.

3) What happen if Im in the middle of transaction (either sending/ receiving) but then I get disconnected from the internet, or have my pc freeze. will it affecting to my balance, will it affecting to the transaction value i.e wrong transaction value or etc.

4) I see that electrum & multibit (and perhaps others liteweight offline wallet) did not download the whole btccore, so that mean my btc is floating around on bitcoin network or internet, but it is locked by my private keys (is my statement here correct or not)

5) I know its silly question, but what happen if electrum/ multibit stopping their services, closing down their servers, is my btc will gone?

6) Is it wise to use 2 diffrent wallet client on same machine? I mean if 1 client is compromised/ corrupted will it affect to the other client?

7) I have 2mbps internet connection, yes its slow, will it affecting to my wallet performance or transaction?

I think thats all for now.. I really sorry for my english.. I really thank you guys in advance