I currently have my maidsafecoins stored in a bitcoin address generated from bitaddress.org on my Mac and would like to improve my security if/when they appreciate in value. If I’m reading this correctly, I could reset my TREZOR and write down the recovery seed, then send my maidsafecoins to a new bitcoin address. This is good for me at least for the next year or two.
Once I’m ready to spend the maidsafecoins (or burn them for Safecoins) I can use the OMNI sweep all command and Electrum to move the coins from the TREZOR (whose private key has never been exposed until now) to the Safecoin burn address.
Is that correct? Is there a better to accomplish this?
At this time DO NOT STORE on Trezor. Trezor generates segwit addresses and at this time omniwallet cannot import the addresses. It can watch them but it cannot import the private key to give a sewit address.
There is no need to sweep since the import of the private key that bitaddress.org gave you allows you to send from that bitaddress.org address
Just keep the paper wallet you generated from bitaddress.org and import that private key into omniwallet when you want to send your coins somewhere. Remember to have some BTC at the same address.
Thanks for the reply. Just curious… it does appear that Trezor lets me generate bitcoin addresses that start with “1” under the legacy wallet. I assumed those would be alright to use with the steps I mentioned above. Is that incorrect? You are correct, however, that the standard wallet generates addresses that start with “3” which I assume are the Segwit ones.
On the surface it sounds correct. Test it with a very small amount of MAID (like one coin) and see. It’ll cost you 2 transactions (a dollar or two) to test, but save you a lot of heartache if it fails. Obviously use another address after your test since you will have imported the private address into omniwallet.
AND report back to us with the exact steps you took so others can learn.
It came across as you prompting Maidsafe to do the transfer to ERC20 (seeing as the OP was about MAID). At the expense of the opening poster’s serious situation. and considering that bad things happen with ERC20 too as with every other coin.
Wasn’t trying to do anything at the expense of anyone
All I did was offer my apologies to him, and use it as a chance to push for a better future so this doesn’t keep happening to people
Maybe you use the word “at the expense of” in a different way than I do. I see people using words differently often, depending on which country I’m in. So having to get used to that.
“at the expense of” means with harmful, jabbing, intent, etc. where I come from at least.
I saw it as using his misfortune to make a point/push that MAID should go to ERC20. Which you now indicate was never your intention.
Anyhow this is getting out of hand now and is becoming a lot worse than either ever meant our comments to be. I am at least digging a hole deeper that we may not come back out of.
I understand that you would not be malicious etc or put anyone down. Sorry if my comments appear worse than they were meant to be.
It’s a fair and relevant point - the fact Omni haven’t integrated seg-wit properly leaves a huge risk for Omni tokens to be sent to an address where the tokens can no longer be accessed (as seen in this thread… and I nearly did it once).
Though not perfect, I don’t think a similar issue exists with ERC20. This won’t be the last time we see this problem, unless Omni get their act together soon.
I have a concern about the shift to ERC20 that it may only be a temporary advantage. Omni, for all its problems is lower risk because it is on the longest lived, least likely to fail blockchain. I have never had as much faith in Ethereum as Bitcoin (and I don’t trust either fully) so I don’t regard the move to ERC20 as good from a risk point of view, but a move to try and establish liquidity for those people wanting to trade. Holders are I suspect at lower risk staying put, but some may not realise that and feel they should move. Anyway, going off topic but I don’t want people to see this discussion and think they need to do anything unnecessarily. There are risks both ways!
Support at present we are hoping to have support for segwit and hardware wallets like the ledger by this coming fall, around September/October/November. If you want to wait until then that’s fine. If not just let us know and we can put together the info and instructions you will need
If you can import your address into electrum and see it in the electrum client properly you can follow those instructions to recover/transfer your funds to an address in your Omniwallet account
Ticket History
Michael Gross changed status from closed to open
Michael Gross wrote:
If you don’t mind could you put together the info for me. Just for safety sake. I really appreciate it.
In case it helps anyone, I’ve played around with using my TREZOR to generate the public bitcoin key to store my MAID and confirmed that it does indeed work. The key step is to ensure you are sending the MAID to a new public key generated under the “Legacy Account” section on the TREZOR (ie. an address starting with “1” NOT starting with “3”). Here are the exact steps I took.
Wipe TREZOR, Create New Wallet & PIN, and write down 24 recovery seed words. These will be kept secure and offline until I am ready to send these coins again. Most likely, I will be keeping these offline until the network launches and I burn them for SafeCoin.
Once logged in to the TREZOR, click the “Add legacy account” button if there isn’t one already added. Then select the “Receive” tab in order to copy and save the new public BTC key that is created which should start with “1”. At this point, you can send your MAID to this address for safe keeping.
Once you are ready to send the MAID, you simply go to this site or another mnemonic BIP39 code converter: BIP39 - Mnemonic Code
You could also use an offline converter to ensure more security. Ian has one and I’ve seen others out there as well.
On the page above, you type those 24 recovery seed words into the “BIP39 Mnemonic” field.
Ensure you have selected Bitcoin (BTC), choose the BIP44 Derivation Path tab, and find the derived address from the path m/44’/0’/0’/0/0 (the first one on this particular tool)
The last “0” in that path could change but in my case, I tested my MAID on the very first address generated in the TREZOR software.
Copy the private key from whichever derivation path you used.
Create a login at www.omniwallet.org then select “My Wallet” at the top, then “My Addresses”, then “Add Address”, and finally “Import Address with Private Key”
Once imported, you should see your BTC and MAID balance show alongside the correct public key. You can now send your MAID to wherever you choose.
I now have my MAID safely off the Trezor and into an OmniWallet address starting with a 1 - and I will be able to send MAID wherever I choose when appropriate. I feel a lot better knowing that it’s safe and available to send when I wish to do so!
Once again thanks to all and rest assured that following the advice above, about getting the Trezor private keys from Ian Coleman’s BIP39 tool and then following OmniWallet Support’s procedure to move all required funds (any coin) from the Trezor to a new OW address DOES WORK!
