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Offline blahblah7up

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Cold Storage Technical Question
« on: October 26, 2014, 02:37:09 PM »

I've been through the Wiki and understand it, but I would like to know if cold storage can be done without <account_name>.

Basically I am interested in using exclusively public and private keys.

Imagine the following:

I send funds to a public key which I generate using the Linux tool or with the client offline.  I hold the WIF private key for this public key.  This account is then NOT registered with an <account_name> on the blockchain.

If I later create a completely new wallet and try to import funds using the WIF private key will I have problems?  There are some sentences in the Wiki which lead me to believe this might be the case.

Offline Riverhead

Re: Cold Storage Technical Question
« Reply #1 on: October 26, 2014, 02:38:38 PM »
No account needed. If you have the private key you can create the account at time of import.

Offline blahblah7up

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Re: Cold Storage Technical Question
« Reply #2 on: October 26, 2014, 02:40:02 PM »
Thanks for the quick reply Riverhead.

So my scenario will work then?

Offline xeroc

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Re: Cold Storage Technical Question
« Reply #3 on: October 26, 2014, 02:43:49 PM »
you can do all of the instruction with a local account name instead of a registered one too ..

the local account name can be a totally different one when you chose to import your key again ..
however, when importing a private key for a non registered name you need to do it in a certain way

wallet_import_private_key WIF-KEY arbitraryName true

the last "true" tells the wallet to create a new account name (local) and use the private key as account key!! (this part is important -- use it as account key)

you will not be able to redeem your funds if you just add the private key to an existing account ... (due to TITAN)
« Last Edit: October 26, 2014, 02:46:09 PM by xeroc »
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Offline Riverhead

Re: Cold Storage Technical Question
« Reply #4 on: October 26, 2014, 02:45:45 PM »
I have tested your scenario with a BTSX and was able to reclaim it with just the private key on a brand new wallet. Once the key is imported you'll need to execute regenerate keys and rescan the blockchain. I think some of this is triggered automatically now. None the less; a WIF from the CLI key gen tool works fine. Though to be honest I have a pub/priv key created this way but I haven't had the stones to send large amounts of money to it yet. I know it works, I've tested it a few times...but...I don't know. It's a mental block.

Offline blahblah7up

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Re: Cold Storage Technical Question
« Reply #5 on: October 26, 2014, 02:49:02 PM »
I have tested your scenario with a BTSX and was able to reclaim it with just the private key on a brand new wallet. Once the key is imported you'll need to execute regenerate keys and rescan the blockchain. I think some of this is triggered automatically now. None the less; a WIF from the CLI key gen tool works fine. Though to be honest I have a pub/priv key created this way but I haven't had the stones to send large amounts of money to it yet. I know it works, I've tested it a few times...but...I don't know. It's a mental block.

Yes, it's all very nerve-wracking.  :-X

Thanks for the test and confirmation.   +5%

Offline xeroc

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Re: Cold Storage Technical Question
« Reply #6 on: October 26, 2014, 02:56:42 PM »
To be a 100% sure you scheme is working you could use an offline computer to check it out with small amounts fist ..

you can simply carry over the "chains" folder of the bitshares wallet to your offline computer and do a resync ..
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Offline Riverhead

Re: Cold Storage Technical Question
« Reply #7 on: October 26, 2014, 03:40:19 PM »
To be a 100% sure you scheme is working you could use an offline computer to check it out with small amounts fist ..

you can simply carry over the "chains" folder of the bitshares wallet to your offline computer and do a resync ..

That's a great idea!

 

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