How to set up and use Mycelium wallet [Latest Version]
How to set up and use Mycelium wallet [Latest Version]
# Bitcoin Mining No Deposit - Mycelium Bitcoin Address ...
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Mycelium Bitcoin Wallet 2.0 (HD) is out!!! : Bitcoin
Mycelium Bitcoin Wallet 2.0 (HD) is out!!!
Mycelium 2.0 HD - Welcome to the future
Address reuse is not for me So I am waiting for HD For even greater satisfaction I want to label my transaction And then there is a third temptation Cold spend with zero confirmation That's why I beg you, please: Release! -- Jan Dreske (Mycelium Developer anxious to get this thing out to the public, who's birthday is today)
Added support for BIP32/BIP44 compliant HD accounts based on a single master seed
A much simpler backup that uses a word list to backup all your HD accounts (BIP39)
No more address reuse, which greatly increases privacy
You can label transactions in transaction history
Transactions can be created with poor or no internet connectivity, and be broadcast later
You can now have unlimited number of watch-only addresses
Cold Storage spending now let's you spend unconfirmed inputs
What does HD mean? HD is short for Hierarchical Deterministic. Typically, bitcoin wallets generate each new bitcoin address from a unique random number, requiring a separate backup of each new address. To avoid losses from lack of backups, such wallets use a single bitcoin address for all your transactions. HD wallets instead use a “master seed” (a single large random number), to derive all future bitcoin addresses sequentially from that single seed. This means that you only need to make a backup once, and all the keys generated by an HD wallet can be restored at any time in the future just from that single master seed. HD wallets greatly improve your privacy by being able to keep generating new addresses. If you use the same address continuously all your transactions will be associated with a single address, and because all bitcoin transactions are public anyone can see what addresses you are sending funds to, and calculate your total balance. With an HD account new addresses are created whenever you send and receive funds, making your transaction activity and total balance very hard to track. But I liked it the way it was! Will I have to change the way I use it? All your keys, addresses and address book entries will be retained when you upgrade your app. The tab previously named “Keys” has been renamed to “Accounts.” Your old bitcoin addresses will become single address accounts, and you can continue to use them as before. We do advise that you switch to new HD accounts, though. You will also see your first empty HD account, which you can start using right away. What about previous backups? Do my old ones still work? Yes. You can still import keys and addresses you backed up with the previous version of Mycelium Wallet. However, we have removed the ability to create backups of single keys, or create new single addresses accounts. Instead, we advise you to backup your master seed and move your funds to the new HD wallet. As long as you keep your old backups, though, you will be able to recover your legacy accounts using Mycelium. To import a private key, switch to the “Accounts” tab, tap the icon with a key and plus symbol in the upper right corner, and select “Advanced”. Then scan your encrypted private key and enter the password. Will I be able to continue to use my current Local Trader identity? Yes. Your Local Trader identity will get carried over to the new version when upgrading along with your private keys. How do I make a backup? To create a backup, either tap the “Secure My Funds” button on the main page, or choose “backup” from the menu. You will be shown a list of words, one after the other. Write those words down with pen & paper. You then have to type in the words again, to make sure you got everything right. Store this word list in a safe place! Anybody who obtains this list can access current and future funds in your wallet! Note: The backup procedure only backs up your HD accounts. Your classic single address accounts are not part of this backup procedure. How do I restore a backup? If your phone is lost or damaged you can make a fresh install of the mycelium wallet on a different device. Upon startup, choose “Restore Backup”. Choose 12 as the length of your word list, and let the “password” checkbox unchecked, and proceed to enter your word list. This recreates your master seed and automatically creates and synchronizes your first HD account. It might take some time until your first account is synchronized and the balance updates. If you had more than one account, navigate to the “Accounts” tab, tap the button with a key icon and plus on the upper right corner, and choose “Add HD Account” to re-create your second account, etc. Note: This procedure only restores your HD accounts. To restore your classic accounts you have to manually import each key/address by going to the Accounts tab, click the + button, select Advanced, and then Import. If your previous Mycelium installation had a Local Trader account you can recreate your trader account and data by clicking “Buy/Sell Bitcoins”, select the “My Info” tab, click “Create” and select the account that your local trader identity was associated with. Can I restore a BIP44 wallet created with other software? Yes. When you start a fresh install of the app you get the option to restore a backup. You can choose between word lists lengths of 12, 18, or 24 words, and also supply an optional password in accordance with BIP39. This way you can restore all HD accounts generated by other wallets compatible with BIP44 and BIP39. For instance, this allows you to import your TREZOR word list in case your device was lost or damaged so you can quickly move your funds to safety.
I'm starting a consultancy and support service for local businesses and charities to help them get started with bitcoin. Do you have any good advice?
First heard about bitcoin in 2011, first mined in 2012 and been pretty much obsessed with the technology since then. I've come to realize i need to put my knowledge to good use and channel my enthusiasm for bitcoin somehow so i've decided this is the best way. If you spend too much time with other bitcoiners and you're constantly reading about it you can forget how little the average person knows, let alone how they can best harness its potential and apply it. I am planning on doing short consultations which will consist of the following:
POS (Point of Sale) options with demonstrations
Shared governance of funds using multi-sig (especially useful for charities)
Hot wallets and cold storage, convenience or security (with demo's)
Buying, selling, or exchanging bitcoin
A summary of latest tax (if applicable) and regulatory requirements
Using bitcoin as a tool for transparency and an enabler of cross border donations
Transitioning to Open Bazaar (this will be a case of learning how it operates next year and then helping businesses with ecommerce set up a store)
Support with advertising and promotion
To compliment this service i've decided to build a website which will act as a free advertising platform for local businesses, musicians, artists and charities that accept bitcoin. I will make it clear that i am not selling bitcoin, offering investment advice, and that i cannot be held responsible for anyones loss of funds due to human error (by asking them to sign a disclaimer to that effect). I'll also make it clear that i don't work for Coinkite, Mycelium, Blocktrail, Bitpay et al they are just the services i am most comfortable using and happy demonstrating. There will inevitably be many questions from people and i imagine i will be allaying a lot of fears e.g. 'Is bitcoin legal? Am i supporting terrorism?' I'm aware of how the general public perceive Bitcoin and how much misinformation there is so i hope to to show off it's strengths. Anyway! this post is twice the length i intended it to be. If you have any good advice, have a bitcoin related product or service that i might not be aware of please let me know. My email address is [email protected] or you can contact me through Reddit of course. Thanks
100% secure paper wallet / cold storage tutorial. Out me if you can! If I'm wrong somewhere I would like to know.
So, I'm really paranoid about creating paper wallets or doing cold storage. This has to do with not trusting any software. I've finally found a way to securely create them. I follow the following steps on a computer that has never touched and will never touch the Internet:
Find 33 dice (D6) and roll them all together three times which give you 99 numbers from 1-6, I do this in a Tupperware box. This provides the maximum entropy possible for the next step. You can skip the next step if you use 64 rolls of D16 dice.
Use the linux command "echo -n my_dice_rolls | sha256sum" to generate a private key (hex length 64). Note: If you generate multiple wallets like this you don't need to reroll each time. You can use the same seed and add a few random numbers somewhere inside my_dice_rolls.
Download https://bitcoinpaperwallet.com/bitcoinpaperwallet/generate-wallet.html and supply your own private key on the "print front" tab. Use BIP38 encryption with whatever passphrase you want. I use the same passphrase for all my addresses so that I can remember it easily. This generates you a BIP38 string and a public address which you can print (paper wallet) and save in a .csv file (cold storage).
Download the bitaddress.org.html file from the github repository (https://github.com/pointbiz/bitaddress.org). To verify the validity of the BIP38 string, enter the BIP38 string in the "wallet details" tab. Check that the outputted public key matches the public key you generated with bitcoinpaperwallet and that the private key matches the private key you generated on the command line. Since you are using a standard linux tool, real world dice and the private key that you retrieve from bitaddress matches the one you generate initially, this means that the subspace of keys cannot be limited by the software and you don't need to check the software of either html files to verify this.
When you want to spend your wallet you can use an android wallet like Mycelium to take the bitcoins from cold storage for you using their 'cold storage option'. It has the ability to read BIP38 addresses but if you are paranoid like me this has the potential to reveal your single password to the Internet. So, you can use bitaddress on your offline computer to convert your BIP38 string to a private key (QR code) like you did to verify it and then use Mycelium to read that private key. This way your single BIP38 passphrase is never revealed online. I would always move the entire balance of this cold storage to a new address as, depending on the application people use to access their cold storage, change has been lost if they are not moving the entire balance.
If you do decide to use this method please remember to start experimenting with small amounts first to make sure it's working for you. Also, if you have a large amount of bitcoins, I would recommend creating multiple cold storage addresses so if you make a mistake with one you don't lose all your coins. There is also always the minute possibility that in the future, someone with an amazing amount of fortune stumbles upon your address. This should never ever realistically happen because of the insanely large numbers in use here... but as I said... I'm paranoid. This way, if you use 5 addresses, they can only take 1/5 of your coins. Of course, it becomes 5 times more likely that this happens, but I prefer to reduce the variance :) Any comments are welcome. I got most of my ideas from moral_agent in this post: http://www.reddit.com/BitcoinWallet/comments/1p6y5c/secure_paper_wallet_tutorial/
The Three Legged Stool of safe storage. I've given a lot of thought about how I can safely store my Bitcoins. I want to share my method in the hope others may find this helpful and any discussion could also help me. I'm not intending this as a beginners guide to cold storage, plenty already exist. But people, both new and familiar with cold storage, can benefit from the applications and ideas I'm suggesting here. The Three Legged Stool, what's this about? There are just three ways to unintentionally lose your coins: Leg 1, They can be stolen Leg 2, They can be physically lost Leg 3, You can forget how to access them The snag is that anything done to improve security to one Leg tends to increase the risk of loss caused by being out of balance with the other two Legs. For example, to protect your coins against Leg 1 (being stolen) you may hide the coins private key in a password protected container somewhere in your house. My point is that you have reduced the risk of Leg 1 (getting them stolen) but at the same time increased the risk of Leg 2 (physically lost) and Leg 3 (forget the password). This is especially true with long term storage. Equally, not using a password protects against Leg 3 but increases the risks from Leg 1 and is of no help against Leg 2. The objective is a balanced stool, keeping your coins safe and also always available for spending. How it can be done: My preferred method is using Paper Wallets with BIP38 encryption. With secure passwords, these are so safe you can keep multiple copies of the same wallet all over the place. Keep copies at work, at home, at your parents house and even carry the private key QR code with your phone in case you want to spend a chunk of Bitcoins unexpectedly. Brute force attacks on BIP38 wallets are so slow, I can't think it's possible to crack a strong password of let's say 10 random letters, numbers and symbols. So this is total protection against Leg 1 and Leg 2 but forget that password Leg 3.... and your coins are gone forever! Here's the clever bit. So how can you guarantee never to forget that complex wallet password? Yes! There's an App for that, "Infinite Password Generator" (IPG) is truly brilliant. https://play.google.com/store/apps/details?id=yuku.infinitepassgen.app The only permission this App has is to access Google Play payment services so I don't think it can give any secrets back to the developer. Install this app and make backups of the APK, save backups on several devices in case it's ever removed from Google Play. If you change your phone you will want to be able to install IPG from your APK backups and it's best not to update this App. If you do update it then always check it is generating the same passwords using the procedure explained below. IPG generates complex passwords by combining your own "Master Password" with a Keyword. As an example, your Master Password must be something you can NEVER forget like the house number and road name you lived in as a child. The Keyword is a unique identifier for this Paper Wallet, maybe a name and incrementing sequence number like wallet3. IPG combines these two fields to generate a secure repeatable password you can use as the input to the BIP38 encryption. IPG let's you save its configuration settings and you need to do this: Fill in the Master Password, put your name in the Keyword field, press Show and select the type and length of BIP38 password you want then press Copy (to the clipboard). Now, paste the generated password over the Personal notes (optional) field. Next, delete the Master Password field and Save, then exit IPG. Open IPG and Load your saved file, fill in Master Password then Copy/paste the generated password under the original copy of the password and if you did this all correctly you will have generated exactly the same password, confirming you put in the Master Password correctly. Now change the Keyword field to your chosen Wallet Identifier, let's use my example above wallet3 and this will generate the required unique password for that BIP38 Paper Wallet you're about to make. I would write 3 as a hint on all copies of this Paper Wallet to make sure I don't forget the full Keyword. The next Paper Wallet I generate being wallet4, marked 4. Also I paste a copy of the IPG generated password into a Truecrypt encrypted container as a last chance disaster recovery. Final steps to use IPG safely. You must close this App correctly otherwise it stays a while in memory containing all your secret information. Then you need to clear the clipboard of the wallet password and I've been using an App called Clipboard Autoclear+ to do this. https://play.google.com/store/apps/details?id=de.tactilesoftworks.clipboardsentinel I've used two Paper Wallet generators, my favorite is https://www.bitaddress.org but it's a bit cumbersome to produce multiple copies of the same wallet. I also like https://bitcoinpaperwallet.com because they can produce Testnet Wallets which is a coin identical to Bitcoin but uses valueless coins purely to be for testing purposes. Google Testnet Wallets for more info. Spending from your Paper Wallet is easier to do than explain and I started by using the Blockchain.info Android App. But this has let me down with an error message "insufficient funds" and I see many complaints about this problem. I wrote to Blockchain.info about it but got no reply. Since then I moved to Mycelium Wallet https://play.google.com/store/apps/details?id=com.mycelium.wallet and have had no problems with this. Also they do a Testnet version of Mycelium which is incredibly useful. In Mycelium you just scan your Paper Wallets public address to watch how many Bitcoins there are in them. When you want to spend from the Paper Wallet, first run IPG, load the file and fill in the passwords then copy the Paper Wallet password to the clipboard. During the Send transaction Mycelium will ask to scan the wallet Private Key, it then asks for the BIP38 password which you can paste in from IPG and the amount of Bitcoin to send and off it goes. A couple of important points to consider if you're not spending the full amount from the Paper Wallet. Once your private key has been used like this you really should send the remaining Bitcoins the next Paper Wallet in the sequence called, using my example, wallet4. That's because once a private key has been used or exposed to an online device, it's no longer safe to consider it as cold storage. If you don't spend all the coins on your Paper Wallet it's likely you will get back change and you must be sure the Wallet App you're using supports this or your change will disappear as a donation to the mining community. Mycelium and Blockchain.info Wallets automatically look after sending your change back to the Paper Wallet's corresponding public address. OTHER APPS MIGHT NOT DO THIS SO BE CAREFUL. Generating Paper Wallets should be done on an offline device such as an old Android phone factory reset and only used for this purpose or a bootable Linux USB. In conclusion this approach overcomes my doubts about my ability to remember long term secure passwords, possibly years after I made them up, because I shouldn't forget the Master Password as it's something so personal to me and the Keyword is almost attached to the Paper Wallet. Leg 3 is dealt with and Legs 2 and 3 now take care of themselves. I do hope some of you find these ideas helpful. The developer of IPG Yukuku does not make any provision for donations and I would happily make a donation for this excellent App that is also available for Windows. Disclaimer, these ideas are for your consideration and debate only. I take no responsibility whatsoever for any losses that may arise however they are incurred. I have absolutely no connection or financial interest in any of the applications I have referred to here.
Mycelium Bitcoin Wallet 2.0 (HD) is out!!! Close. 317. Posted by. u/Rassah. 4 years ago. Archived . Mycelium Bitcoin Wallet 2.0 (HD) is out!!! Mycelium 2.0 HD - Welcome to the future. Address reuse is not for me So I am waiting for HD For even greater satisfaction I want to label my transaction And then there is a third temptation Cold spend with zero confirmation That's why I beg you, please ... Download the Mycelium Bitcoin Wallet from the Google Play Store and once you’ve opened the app, select “Create New” Once you’ve gotten your address, make a backup of your SEED phrase. Write them down and store them in a safe location; To make sure no one else can use your wallet, set up a PIN code to restrict access; Once you’ve completed the above steps, you can open the Balance Tab ... What makes Mycelium wallet considered one of the most downloaded mobile wallets to store Bitcoin? Lets discuss in this article on how to set up and use the latest version of Mycelium wallet? Mycelium is an online walet it means it connect with the internet via mobile device. You can send,recive or hold bitcoin in Mycelium wallet. It is avalaible for both android and ios operating system. I am ... Note elem.Key is the bitcoin address, elem.Value are operations on that address. show-history Output example Type your password: Wallets/Wallet.json wallet is decrypted. 7 Receive keys are processed. 14 Receive keys are processed. 21 Receive keys are processed. 7 Change keys are processed. 14 Change keys are processed. 21 Change keys are processed. ----- Date Amount Confirmed Transaction Id ... A Bitcoin address is a like a bank account for your Bitcoin: it is an identifier for the parties involved in transactions, and a place where Bitcoin can be stored. Bitcoin addresses consist of a long-set of alphanumeric characters, between 26-34 characters in length. To give you an idea of what a Bitcoin address actually looks like, take a look ...
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