I doubt there will be wallet software that will support spending directly on-chain like we have now.
not you too
oh yeah i'm with core
so be it. I'm with Satoshi
Topic: When/If all Electrum nodes go offline or Electrum version becomes too old ... (Read 660 times)
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
April 17, 2017, 09:07:04 PM
not you too
oh yeah i'm with core
so be it. I'm with Satoshi
April 17, 2017, 08:59:32 PM
I doubt there will be wallet software that will support spending directly on-chain like we have now.
not you too
oh yeah i'm with core
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
April 17, 2017, 04:56:21 PM
I doubt there will be wallet software that will support spending directly on-chain like we have now.
not you too
April 17, 2017, 03:28:03 PM
Suppose someone wants to do long term cold storage. I am talking about 5-10 years.
Suppose in 10 years Electrum no longer exists because all the nodes are down or the current version 2.8.x just becomes obsolete.
Is there anyway to save a copy of the wallet with the seed and be able to see the private key, and then later sweep that address to another address?
Suppose in 10 years Electrum no longer exists because all the nodes are down or the current version 2.8.x just becomes obsolete.
Is there anyway to save a copy of the wallet with the seed and be able to see the private key, and then later sweep that address to another address?
It is not feasible to do cold storage for such a long time using any software. Bitcoin could change completely in 5-10 years.
Manually storing addresses using paper wallets would probably be a more ideal method for such a long term cold wallet. You could also easily export the private keys if you are using Electrum for a cold wallet. It just gets more time consuming if you use a large number of addresses unless you use a tool like previously mentioned to regenerate the addresses.
Yes in theory it's possible to do a lot of things. As long as you have the private key then anything is possible. An electrum wallet is a private key in another format i.e. a seed that leads to a whole tree of key pairs. So if you are willing to do the work when the time comes to spend your coins then anything is possible. There will be work involved because in 10 years a lot could have changed.
Probably in 10 years time we will all have migrated to using lightning. I doubt there will be wallet software that will support spending directly on-chain like we have now.
April 17, 2017, 08:28:19 AM
Suppose someone wants to do long term cold storage. I am talking about 5-10 years.
Suppose in 10 years Electrum no longer exists because all the nodes are down or the current version 2.8.x just becomes obsolete.
Is there anyway to save a copy of the wallet with the seed and be able to see the private key, and then later sweep that address to another address?
Suppose in 10 years Electrum no longer exists because all the nodes are down or the current version 2.8.x just becomes obsolete.
Is there anyway to save a copy of the wallet with the seed and be able to see the private key, and then later sweep that address to another address?
It is not feasible to do cold storage for such a long time using any software. Bitcoin could change completely in 5-10 years.
Manually storing addresses using paper wallets would probably be a more ideal method for such a long term cold wallet. You could also easily export the private keys if you are using Electrum for a cold wallet. It just gets more time consuming if you use a large number of addresses unless you use a tool like previously mentioned to regenerate the addresses.
April 16, 2017, 01:59:39 PM
Suppose someone wants to do long term cold storage. I am talking about 5-10 years.
Suppose in 10 years Electrum no longer exists because all the nodes are down or the current version 2.8.x just becomes obsolete.
Is there anyway to save a copy of the wallet with the seed and be able to see the private key, and then later sweep that address to another address?
Suppose in 10 years Electrum no longer exists because all the nodes are down or the current version 2.8.x just becomes obsolete.
Is there anyway to save a copy of the wallet with the seed and be able to see the private key, and then later sweep that address to another address?
It is not feasible to do cold storage for such a long time using any software. Bitcoin could change completely in 5-10 years.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
April 16, 2017, 12:45:22 AM
Suppose someone wants to do long term cold storage. I am talking about 5-10 years.
Suppose in 10 years Electrum no longer exists because all the nodes are down or the current version 2.8.x just becomes obsolete.
Is there anyway to save a copy of the wallet with the seed and be able to see the private key, and then later sweep that address to another address?
Suppose in 10 years Electrum no longer exists because all the nodes are down or the current version 2.8.x just becomes obsolete.
Is there anyway to save a copy of the wallet with the seed and be able to see the private key, and then later sweep that address to another address?
i made a python script for 12 word seed which will generate the address key pairs. its on this sub forum somewhere.
April 16, 2017, 12:14:41 AM
You can make a code to export all the address or you can just use the current version of Electrum to export all your addresses.
i believe you mean export your private keys. and yeah private key is the only thing you are ever going to need to spend bitcoin.Quote
Even if the servers are down, you can still craft a transaction, sign it using Electrum ~
the problem is in crafting the transaction.try it yourself. go to https://coinb.in/ make a raw unsigned transaction (or use any other method you know of) and try importing it in Electrum. wallet doesn't even recognizes it.
the format Electrum accepts as the scriptSig placeholder is a bit strange to me.
look at this: https://bitcointalksearch.org/topic/creating-a-raw-unsigned-tx-updated-with-an-example-1621813
also https://github.com/spesmilo/electrum/issues/1811
April 15, 2017, 10:10:53 PM
You can make a code to export all the address or you can just use the current version of Electrum to export all your addresses.
Even if the servers are down, you can still craft a transaction, sign it using Electrum and broadcast it elsewhere. If you prefer, just create a server yourself. If you didn't encrypt your wallet, you can open your wallet file with a text editor and you should be able to see your xpriv there.
Even if the servers are down, you can still craft a transaction, sign it using Electrum and broadcast it elsewhere. If you prefer, just create a server yourself. If you didn't encrypt your wallet, you can open your wallet file with a text editor and you should be able to see your xpriv there.
April 15, 2017, 05:04:31 PM
Suppose someone wants to do long term cold storage. I am talking about 5-10 years.
Suppose in 10 years Electrum no longer exists because all the nodes are down or the current version 2.8.x just becomes obsolete.
Is there anyway to save a copy of the wallet with the seed and be able to see the private key, and then later sweep that address to another address?
Suppose in 10 years Electrum no longer exists because all the nodes are down or the current version 2.8.x just becomes obsolete.
Is there anyway to save a copy of the wallet with the seed and be able to see the private key, and then later sweep that address to another address?
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