Frequently Asked Questions Bitcoin Private Electrum – 1.1.1 does Electrum work? My transaction has been unconfirmed for a long time. Can I import private keys from other Bitcoin clients?
Can I sweep private keys from other Bitcoin clients? Where is my wallet file located? Can I do bulk payments with Electrum? Can Electrum create and sign raw transactions? Electrum freezes when I try to send bitcoins.
How can I pre-generate new addresses? The seed is a random phrase that is used to generate your private keys. Your wallet can be entirely recovered from its seed. The seed phrase created by Electrum has 132 bits of entropy. It is not possible to recover your password. However, you can restore your wallet from its seed phrase and choose a new password.
If you lose both your password and your seed, there is no way to recover your money. This feature is enabled by default in recent versions of Electrum. Eventually, your transaction will either be confirmed or cancelled. A CPFP is a new transaction that pays a high fee in order to compensate for the small fee of its parent transaction.
It can be done by the recipient of the funds, or by the sender, if the transaction has a change output. A window will popup with the unsigned transaction. When you freeze an address, the funds in that address will not be used for sending bitcoins. You cannot send bitcoins if you don’t have enough funds in the non-frozen addresses. Your seed and private keys are encrypted using AES-256-CBC.
This is done in order to minimize the amount of time during which sensitive information is unencrypted in your computer’s memory. In addition, your wallet file may be encrypted on disk. Note that the wallet information will remain unencrypted in the memory of your computer for the duration of your session. If a wallet is encrypted, then its password will be required in order to open it. Wallet file encryption is activated by default since version 2.
It is intended to protect your privacy, but also to prevent you from requesting bitcoins on a wallet that you do not control. 0, you cannot import private keys in a wallet that has a seed. If you want to import private keys and not sweep them, you need to create a special wallet that does not have a seed. You will need to back up this wallet, because it cannot be recovered from a seed.
Sweeping private keys means to send all the bitcoins they control to an existing address in your wallet. The private keys you sweep do not become a part of your wallet. Enter the private keys in the appropriate field. That is the destination address and it will be from your existing electrum wallet. You can create a transaction with several outputs. In the GUI, type each address and amount on a line, separated by a comma. Amounts are in the current unit set in the client.
The total is shown in the GUI. Electrum lets you create and sign raw transactions right from the user interface using a form. The gap limit is the maximum number of consecutive unused addresses in your deterministic sequence of addresses. Electrum uses it in order to stop looking for addresses. 0, it is set to 20 by default, so the client will get all addresses until 20 unused addresses are found. Electrum will generate new addresses as you use them, until it hits the gap limit.
If you need to pre-generate more addresses, you can do so by typing wallet. This command will generate one new address. Note that the address will be shown with a red background in the address tab to indicate that it is beyond the gap limit. The red color will remain until the gap is filled. WARNING: Addresses beyond the gap limit will not automatically be recovered from the seed. To recover them will require either increasing the client’s gap limit or generating new addresses until the used addresses are found.
Warning: always save your wallet seed on paper before doing an upgrade. To upgrade Electrum, just install the most recent version. The way to do this will depend on your OS. Note that your wallet files are stored separately from the software, so you can safely remove the old version of the software if your OS does not do it for you. Some Electrum upgrades will modify the format of your wallet files. For this reason, it is not recommended to downgrade Electrum to an older version once you have opened your wallet file with the new version. The older version will not always be able to read the new wallet file.
The following issues should be considered when upgrading Electrum 1. Please allow it time to complete, and expect it to take a little longer than usual for Electrum to be ready. The contents of your wallet file will be replaced with an Electrum 2 wallet. Restart Electrum 2 after the upgrade is complete and your addresses will be available. Offline copies of Electrum will not show the addresses at all because it cannot synchronize with the network. You can force an offline generation of a few addresses by typing the following into the Console: wallet.
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When it’s complete, restart Electrum and your addresses will once again be available. Built with Sphinx using a theme provided by Read the Docs. Create a wallet on your protected machine, as you want to keep your cryptocurrency safe. Please notice that the potential intruder still will be able to see your addresses, transactions and balance, though.
Now you are able to set up your electrum merchant daemon. SSL private key and a public certificate for your domain set up already. Create another file, file that contains your certificate, and the list of certificates it depends on, up to the root CA. Your certificate must be at the top of the list, and the root CA at the end.
In order to display public URLs, we need to set another configuration variable, url_rewrite. Install and run Electrum-Merchant configuration program. By default it installs a simple interface, other interfaces are in preparation and will be available in future. Please note that it is required to follow steps in previous paragraph before you will be able to successfuly run Electrum-Merchant. URL of the signed BIP70 request. URL of a webpage displaying the request.
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Note that request_url and index_url use the domain name we defined in url_rewrite. The page shows the payment request. You can open the bitcoin: URI with a wallet, or scan the QR code. The bottom line displays the time remaining until the request expires. This page can already used to receive payments. Now, the page is fully interactive: it will update itself when the payment is received.
Commands to the Electrum daemon can be sent using JSONRPC. This is useful if you want to use electrum in a PHP script. Note that the daemon uses a random port number by default. 5, the JSON-RPC interface is authenticated using HTTP basic auth. The username and the password are config variables. Note that HTTP basic auth sends the username and the password unencrypted as part of the request. While using it on localhost is fine in our opinion, using it across an untrusted LAN or the Internet is not secure.
Hence, you should take further measures in such cases, such as wrapping the connection in a secure tunnel. After setting a static port, and configuring authentication, we can perform queries using curl or PHP. Built with Sphinx using a theme provided by Read the Docs. This comprehensive manual will explain how you can use Bitcoin to protect your financial privacy.
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After you’ve read this manual, be sure to check out the step-by-step guide: How to make anonymous payments with Bitcoin. Why it is important to keep your funds private This guide is also available in pdf format. As a financial system, Bitcoin functions completely differently from the established banking network. Bitcoin allows you to store funds yourself, without the need for a third party, and it places the burden of keeping said funds secure and accessible on you. While opening an account with a traditional bank or other financial institution requires significant cost and effort, creating a Bitcoin account is quick and easy to do on your home computer. This speedy process makes it possible to create millions of separate accounts if you wish.
Two aspects in particular—privacy and identity—function very differently with Bitcoin than in the legacy financial system. Bitcoin allows you to use any persona or online identity you wish. Being able to use the internet anonymously or pseudonymously is the only way for many people to truly be themselves. Hundreds of millions of people around the globe are not accepted in their societies for reasons they cannot control.
Pseudonyms are used by women who speak up for their rights, atheists born into religious societies, and people critical of their governments to spread their thought, empower their causes, and encourage those around them to do the same. These courageous men and women threaten their own safety and well-being to defend who they are and what they believe in. Technology empowers them to be leaders in social change more efficiently than they could have ever been before. Technology also connects like-minded individuals so they can form the communities for which they strive. Maintaining an identity with a large following might require paid services such as blogs, logo designs, stock photos, VPNs, or translations.
Without the ability to pay for these services anonymously, you would be forced to reveal your true identity in order to maintain your pseudonym. How Bitcoin empowers anonymity Bitcoin is an important, empowering technology. Using a Bitcoin account with a pseudonym protects your right to remain anonymous on the internet. It allows anonymous or pseudonymous fundraising.
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Groups can collectively control Bitcoin accounts, and choose to either hide or reveal financial information at will. A workers’ rights group could, for example, raise funds with Bitcoin. Likewise, a domestic abuse victim might use Bitcoin to securely stack away funds to prepare for an independent life. Privacy through pseudonymous accounts Privacy in traditional banking is guaranteed by the institutions that make up the system, such as banks, credit card companies, and governments. This puts them in a delicate position, where only they have complete oversight as to what is going on.
In the Bitcoin ecosystem, everyone can see the history of every account balance, but they cannot see who controls an account. All addresses and transactions are recorded in Bitcoin’s publicly distributed database, the Blockchain. The addresses do not have names or IP addresses attached to them, so it is not always possible to know which transaction belongs to which individual. Transparency requires protection Bitcoin is by default a transparent system, in which every piece of information is available to the public. As such, every Bitcoin user requires some level of protection. Anyone with substantial wealth in Bitcoin would not want to advertise their funds to every person they transact with, for obvious reasons. How you can be de-anonymized using Bitcoin Sadly, there are hundreds of ways a Bitcoin transaction can be linked to someone’s real identity.
True pseudonymity against a resourceful adversary is very difficult to achieve. Over the course of just a few months, you could come into contact with hundreds of Bitcoin addresses. It is often only necessary to associate just one of these addresses with your real identity to work out your real identity. This means that once a single address is known, there is a trail to follow the Bitcoins. Another characteristic of Bitcoin transactions is that they always need to match the previous transaction. If 1 Bitcoin is received, but you only want to spend 0.
4 Bitcoin, you will need to make a transaction where 1 Bitcoin will leave your account. 4 Bitcoin will go as payment, then 0. 6 Bitcoin will return to you as change. Your Bitcoin wallet will handle this process automatically, but it is important to understand the principle in order to use it anonymously.
The owner of the original Bitcoin doesn’t know what you did with the money, but they can see the amounts involved. They can see two transactions on your account: one for 0. 4 Bitcoin and one for 0. 5 Bitcoin but want to spend 1 Bitcoin, you need to own additional Bitcoin addresses with a combined value of at least 0. Having publicly visible Bitcoin addresses could make it easier to find out your identity. Your name might be linked to your Bitcoin address Your real name might be connected to a Bitcoin transaction when you make transactions with Bitcoin, for example, if you buy goods online and have them shipped to your real address. Bitcoin exchanges and even some ATMs often require you to show identification before making a purchase.
When you buy bitcoins from someone in person, they might know who you are and keep a record of the transaction. Your country’s anti-money laundering laws might require you to reveal your identity when buying or selling Bitcoin, making it necessary to obfuscate their trail on the blockchain. Your IP address might be linked to your Bitcoin address When you make a Bitcoin transaction, you are essentially creating a message on your phone or computer and sending it to the Bitcoin network. Someone operating a large number of nodes in the Bitcoin network might be able to match some of your transactions to your IP address, then deanonymize your entire stack of Bitcoins. It is relatively easy to avoid this on a computer by relaying all transactions through the Tor network. Most Bitcoin clients and wallets support Tor’s Socks5 proxy.