watching only vs. offline | Bitcointalksearch.org

Carlton Banks

legendary

Activity: 3430

Merit: 3080

Quote from: bryonp on July 05, 2015, 02:07:22 PM

Thanks so much! I have some questions, but rather then bug you further... I will just create it and transfer .001 bitcoin and see how it all works.

Good plan

Quote from: bryonp on July 05, 2015, 02:07:22 PM

I am assuming that the offline wallet will not ever show its balance, just the watching one on line? But Like I say I will play around with just a few dollars and get first hand experience.

Indeed, there is no way for the offline wallet to know anything about it's balance.

No worries, play carefully.

bryonp

member

Activity: 85

Merit: 10

Thanks so much! I have some questions, but rather then bug you further... I will just create it and transfer .001 bitcoin and see how it all works.

I am assuming that the offline wallet will not ever show its balance, just the watching one on line? But Like I say I will play around with just a few dollars and get first hand experience.

Thanks for all of your time to help with this issue!

Carlton Banks

legendary

Activity: 3430

Merit: 3080

Let's start again.

Create full wallet offline
Encrypt full offline wallet you just created with strong password (Armory will prompt you to do this automatically)
Create a watching only copy of that offline full wallet
Move the watching only wallet to online machine
Keep full wallet file on the offline machine only
Generate address with the online watching only wallet
Send your 100 coins to the address you just created in the online watching only wallet

The watching only wallet MUST be generated from your full offline wallet. Do not make any mistakes with this, it is your responsibility. You can be sure the watching only copy is definitely derived from the full offline wallet by checking the wallet ID code is the same for each wallet filename. The wallet ID code is also displayed in the Armory application in the wallet info.

Disable external storage device "autostart" feature, on both the online machine and the offline machine. Details of how to do this comprehensively differ depending on the operating system on the each computer. You will need to find instructions to do this for your computer's operating system(s) for yourself. Yes, if possible, use a CD-ROM to transfer the watching wallet copy to the online.

The above represents best practice as far as I am aware at this point in time (and I follow all my own advice with this issue).

bryonp

member

Activity: 85

Merit: 10

OK if I have 100 bit coin delivered via on line. then backup. then open backup on offline wallet. then make new wallet with offline system and copy bitcoins to that offline wallet. then send that watch online to on line wallet..... I will try. and copy everything to a CD rather then a usb? Huh

Thanks its much appreciated .....

Carlton Banks

legendary

Activity: 3430

Merit: 3080

Quote from: bryonp on July 05, 2015, 11:18:33 AM

Hi I have a question about this type of wallet. If I create the wallet off line, and put 100 bitcoins in it. Then on line I remove the keys??? Im not sure how to keep it totally secure??
Do I create the wallet on line, then copy the wallet on the offline system and move the coins to it off line only... then when I go on line computer it will know that the coins are there???

I guess you can see how I am not sure how to stay totally secure... any info or a link would be so helpful... Thanks

Create wallet offline
Create a watching only copy of that offline wallet
Move the watching only wallet to online machine
Keep full wallet file on the offline machine only

Malware danger could exist when you're copying the watching only wallet to the online machine. Mitigate by using CD-ROMs to move the file, or operating systems that can keep USB devices quarantined from online devices

bryonp

member

Activity: 85

Merit: 10

Hi I have a question about this type of wallet. If I create the wallet off line, and put 100 bitcoins in it. Then on line I remove the keys??? Im not sure how to keep it totally secure??
Do I create the wallet on line, then copy the wallet on the offline system and move the coins to it off line only... then when I go on line computer it will know that the coins are there???

I guess you can see how I am not sure how to stay totally secure... any info or a link would be so helpful... Thanks

zombieslayer9099

full member

Activity: 120

Merit: 100

Java Coder

Watching only is the same thing as offline, it will display Offline in the Security tab when you go to Wallet Properties > Wallet Owner and check off This Wallet is Mine.

therealmrmike

newbie

Activity: 5

Merit: 0

I've created 2 separate wallets on my PC that's not connected to the internet. I added one to my connected PC last month and it showed offline in the security box. The one I did earlier showed "watch only". What is the difference is one better than the other?
Thanks

Topic: watching only vs. offline (Read 751 times)