Author Topic: open.BTC wallet Private Keys  (Read 3120 times)

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Offline yvv

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OpenLedger (the company) owns the private keys controlling the actual Bitcoins. You can't get access to these.

So with that in mind should I treat storing BTC as open.BTC the same as storing in on any other centralized exchange?   I am assuming yes.
I like having it stored there because the Bitshares wallet makes it nice for managing multiple Cryptos but I don't like not owning the private keys.

You do own private keys for your bitshares wallet, the one where you keep OPEN.BTC. To get OPEN.BTC into bitshares wallet, you give your BTC to openlegder gateway. You don't own private keys from gateway wallet, it would be nonsense if you did.

Offline mfajma

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OpenLedger (the company) owns the private keys controlling the actual Bitcoins. You can't get access to these.

So with that in mind should I treat storing BTC as open.BTC the same as storing in on any other centralized exchange?   I am assuming yes.
I like having it stored there because the Bitshares wallet makes it nice for managing multiple Cryptos but I don't like not owning the private keys.


Offline pc

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So this may be a very noob questions but I trying to wrap my head around how storing BTC in my Bitshares wallet as open.BTC is any better than storing on an exchange.

It isn't. At least not a lot.

OPEN.BTC is an IOU issued by OpenLedger, a privately owned company located in Denmark. The OPEN.BTC balance shown in your bitshares wallet is similar in nature to the BTC balance shown in your account on a centralized exchange.

Who owns the private key to that open.BTC wallet address?   
Is there a way that I can get the private key to this open.BTC wallet? 

You own the private keys to your bitshares wallet. You can't use these to access actual Bitcoins. You can only use them to handle your OPEN.BTC. You should also be able to retrieve the private keys somehow using the UI.

OpenLedger (the company) owns the private keys controlling the actual Bitcoins. You can't get access to these.
Bitcoin - Perspektive oder Risiko? ISBN 978-3-8442-6568-2 http://bitcoin.quisquis.de

Offline yvv

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The keys which you see under "Permissions" are the keys which control your wallet. To see the private key, click the key logo.

Offline mfajma

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You own the keys. You can see them in "Permissions" tab. Private keys are not shared with any third parties.

Can you elaborate.  I can see the keys for my Bitshares wallet under permissions but I am trying to understand where the keys to the open.BTC wallet I have within Bitshares.   I assume these are somehow tied together but I don't see how I would access the private keys for the open.BTC wallet.

Thanks again for any help.

Offline yvv

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Quote
Who owns the private key to that open.BTC wallet address?   
Is there a way that I can get the private key to this open.BTC wallet? 

You own the keys. You can see them in "Permissions" tab. Private keys are not shared with any third parties.


Offline mfajma

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So this may be a very noob questions but I trying to wrap my head around how storing BTC in my Bitshares wallet as open.BTC is any better than storing on an exchange.   I have an Bitcoin address within my Bitshares wallet that I can send BTC to and through the OpenLedger gateway it arrives in my bitshares wallet.   

My questions are:
Who owns the private key to that open.BTC wallet address?   
Is there a way that I can get the private key to this open.BTC wallet? 


Any help is appreciated.