Quote from: libertad on May 27, 2015, 03:04:30 AM

Quote from: virtualx on May 26, 2015, 04:38:39 PM

Quote from: libertad on May 25, 2015, 11:06:01 PM

I would like to purchase BTC's and save the majority of them in a paper wallet as I expect to hang on to them for at least a few years.

I was thinking of doing the following:

1) Install Electrum from a live DVD/USB (Ubuntu or Tails) onto a computer that's not online.

2) Record seed and copy the address's generated.

3) Delete the wallet

4) Send BTC's to the address's that were generated offline.

5) Confirm transfer of BTC's at Blockchain.info.

Does the steps above seem OK? Is there anything that should be changed or added?

How does the blockchain know that the address's that were generated offline are valid?

TIA

Record the bitcoin private key in step 2. The private key is required to initiate transfers on the bitcoin network. Without the private key you lose the funds.

Isn't the seed the same as the private key? How would I lose the funds if I have the seed recorded?

A bit of difference. In Electrum, a seed is a complete backup of all addresses and transactions. A private key is just for one public key. If you back up the seed, you will never lose the funds.
You can read this :http://bitzuma.com/posts/a-beginners-guide-to-the-electrum-bitcoin-wallet/