Author Topic: How to have separate wallets with 1 account each  (Read 4934 times)

0 Members and 1 Guest are viewing this topic.

Offline starspirit

  • Hero Member
  • *****
  • Posts: 948
  • Financial markets pro over 20 years
    • View Profile
  • BitShares: starspirit
Having multiple account in one wallet is not an issue .. if you don't use dump_private_key and use that account somewhere else ..
all private keys used in the system are derived from the account's master key ... the account's key is derived from the wallet master key (which is also stated in the backup file) .. so if you have a backup of your wallet .. in which you created all your account .. you will always be able to regenerate your accounts...

the only issue currently are market transactions which are derived from the WALLET private key .. (github: https://github.com/BitShares/bitshares/issues/814 and https://github.com/BitShares/bitshares/issues/769) ..
this is not an issue unless you dump your account's private key and use it for market transactions in a different client!
That issue seems to be resolved!
Ahh, many thanks.

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12922
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BitShares: xeroc
  • GitHub: xeroc
Having multiple account in one wallet is not an issue .. if you don't use dump_private_key and use that account somewhere else ..
all private keys used in the system are derived from the account's master key ... the account's key is derived from the wallet master key (which is also stated in the backup file) .. so if you have a backup of your wallet .. in which you created all your account .. you will always be able to regenerate your accounts...

the only issue currently are market transactions which are derived from the WALLET private key .. (github: https://github.com/BitShares/bitshares/issues/814 and https://github.com/BitShares/bitshares/issues/769) ..
this is not an issue unless you dump your account's private key and use it for market transactions in a different client!
That issue seems to be resolved!

Offline starspirit

  • Hero Member
  • *****
  • Posts: 948
  • Financial markets pro over 20 years
    • View Profile
  • BitShares: starspirit
Being that backups containing more than 1 account don't restore properly, ...
I was curious about this comment. Is there a known problem with running more than 1 account in the client?

See:

https://bitsharestalk.org/index.php?topic=8156.0
wow, thanks. always so much more to know. In that thread, BM follows up on Sep 4 by saying:
"As of 0.4.12 multiple accounts have independent deterministic key sequences so that is less of an issue."
So do you think it is still an issue?

I haven't seen any of the devs mention explicitly that the issue has been fully resolved, so I lean on the side of caution in the meantime.
So I want to set up a second account, but based on this discussion, to be safe I am doing it in a new client on a different machine. Will that preclude me from combining my accounts into a single client down the track should this issue be resolved?

Offline FuLl

  • Full Member
  • ***
  • Posts: 101
    • View Profile
Being that backups containing more than 1 account don't restore properly, ...
I was curious about this comment. Is there a known problem with running more than 1 account in the client?

See:

https://bitsharestalk.org/index.php?topic=8156.0
wow, thanks. always so much more to know. In that thread, BM follows up on Sep 4 by saying:
"As of 0.4.12 multiple accounts have independent deterministic key sequences so that is less of an issue."
So do you think it is still an issue?

I haven't seen any of the devs mention explicitly that the issue has been fully resolved, so I lean on the side of caution in the meantime.

Offline starspirit

  • Hero Member
  • *****
  • Posts: 948
  • Financial markets pro over 20 years
    • View Profile
  • BitShares: starspirit
Being that backups containing more than 1 account don't restore properly, ...
I was curious about this comment. Is there a known problem with running more than 1 account in the client?

See:

https://bitsharestalk.org/index.php?topic=8156.0
wow, thanks. always so much more to know. In that thread, BM follows up on Sep 4 by saying:
"As of 0.4.12 multiple accounts have independent deterministic key sequences so that is less of an issue."
So do you think it is still an issue?

Offline FuLl

  • Full Member
  • ***
  • Posts: 101
    • View Profile
Being that backups containing more than 1 account don't restore properly, ...
I was curious about this comment. Is there a known problem with running more than 1 account in the client?

See:

https://bitsharestalk.org/index.php?topic=8156.0

Offline starspirit

  • Hero Member
  • *****
  • Posts: 948
  • Financial markets pro over 20 years
    • View Profile
  • BitShares: starspirit
Being that backups containing more than 1 account don't restore properly, ...
I was curious about this comment. Is there a known problem with running more than 1 account in the client?

Offline FuLl

  • Full Member
  • ***
  • Posts: 101
    • View Profile
« Last Edit: October 31, 2014, 12:08:34 am by FuLl »

Offline FuLl

  • Full Member
  • ***
  • Posts: 101
    • View Profile

Offline happybit

  • Full Member
  • ***
  • Posts: 87
  • Happy Bit!
    • View Profile
Could PLEASE possibly NOT BE CALLED: wallet.dat!!

and could it please be placed in the DOCUMENTS directory, and not some weird "shared folder" somewhere where people never look to backup their documents

It would even be safer in the PICTURES directory... I have had friends "backup" their computers and then come complain about having lost their bitcoins because they couldn't find the wallet.dat in the backed-up DOCUMENTS directory!

Is there a problem with saving absolutely critical files in a place where EVERYONE looks for important documents for backup purposes?

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12922
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BitShares: xeroc
  • GitHub: xeroc
Agreed

We should force people initially and on a monthly basis to make backup of there wallet

I think it might be a good idea to set an option to set a path & automatically save a wallet backup after each transaction, with a radiobox to be able to select between 'monthly' 'weekly' 'daily', & 'after each transaction'. This way one of the automatic backup options would always be enforced, & we could change it if we wish.

In my case, I like to have iterations of each backup, & since the 'wallet.dat' filename doesn't change, I set a separate directory for each backup titled with the date of the backup. It would be nice if this feature were to be implemented, if it would allow a path to be set which would change the wallet.dat's containing directory to be named with the current date, within the base backup directory. This so that in my case I can preserve my iterations without losing the previous copy of the backup each time a new backup is created.

Can you propose it over here:
https://github.com/BitShares/bitshares_toolkit/issues

Offline FuLl

  • Full Member
  • ***
  • Posts: 101
    • View Profile
Agreed

We should force people initially and on a monthly basis to make backup of there wallet

I think it might be a good idea to set an option to set a path & automatically save a wallet backup after each transaction, with a radiobox to be able to select between 'monthly' 'weekly' 'daily', & 'after each transaction'. This way one of the automatic backup options would always be enforced, & we could change it if we wish.

In my case, I like to have iterations of each backup, & since the 'wallet.dat' filename doesn't change, I set a separate directory for each backup titled with the date of the backup. It would be nice if this feature were to be implemented, if it would allow a path to be set which would change the wallet.dat's containing directory to be named with the current date, within the base backup directory. This so that in my case I can preserve my iterations without losing the previous copy of the backup each time a new backup is created.

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12922
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BitShares: xeroc
  • GitHub: xeroc
Agreed

We should force people initially and on a monthly basis to make backup of there wallet

Offline happybit

  • Full Member
  • ***
  • Posts: 87
  • Happy Bit!
    • View Profile
DID IT!!!

THANK YOU, THANK YOU for the clarification!

It would help EVERYBODY who is new to Bitshares to have this spelled out right on the front page of the client!

At this stage "new people" = EVERYBODY! ;)

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12922
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BitShares: xeroc
  • GitHub: xeroc
the passphrase has NOT RELATION to your wallet .. it's just used to encrypt the private keys (which are chosen at random)!

PLEASE MAKE A BACKUP OF YOU WALLET-FILE ASAP!

The in-app backup mechanism will give you a text-file (json-formated) .. which contains ALL necessary information (priv keys) requried to access your funs
the keys are ENCRYPTED with your passphrase ...

once, again ... tha passphrase IS NOT YOUR PRIVATE KEY .. as it is used in NXT (what a stupid idea btw)