Post
Topic
Board Speculation
Re: Why Bitcoin may now level off...
by
raid_n
on 05/12/2013, 09:29:54 UTC

You have to move all your Bitcoins from your paper wallet to your real wallet or the BTCs on the paper wallet get lost  Shocked

Who really can know this? You try to move 1 BTC from your paper to your BTC wallet and lose 99 Coins or ~110.000$ because you dont know this information.


...

Obviously there are many ways to "lose" coins.  Like leaving your hard drive with 7 million dollars worth, in a Landfill.

But his comment was:  "You have to move all your Bitcoins from your paper wallet to your real wallet or the BTCs on the paper wallet get lost"

You can't lose coins this way.  

As long as he has his paper wallet and his private and public key, he isn't going to "lose" his coins if they don't get moved to a "real wallet" (whatever that means).

Read his assumption and my explanation again: He moves 1BTC from his 100 BTC paper wallet. How does he do this? By entering the private key into a wallet application or online wallet
and performing the 1BTC transaction. Bitcoin-qt will NOT put the remaining 99 BTC back into that paper wallet's address by default but rather place it into a NEW address.
The paper wallet contains nothing after this transaction while the wallet software has the new address with the remaining 99 BTC. If you explicitly specify the return address to be that of the paper wallet's all is good.
But you do need to know this.

If you do not spend from your paper wallet nothing happens, like you said. But that was not the assumption here