Quote from: roxtar on December 06, 2013, 02:51:34 AM

Guys.. just a little re-assurance. Im a long time QT user thinking to switch to Electrum.. been researching for a while now. So it seems I don't have to make scheduled backups of my wallet with Electrum (as I currently do with QT) at all. As long as I remember the generated seed to memory perfectly, thats all I will EVER need to rebuild my wallet and use spend my BTC in any scenario (other someone stealing my seed), correct?

With QT now, the syncing with the blockchain, plus issues since I'm on OSX (random crashes and having to rebuild the block database or re-sync etc) has made me very paranoid and I've started backing up my encrypted wallet to external storage. It seems like Electrum would be an elegant alternative, with no need to download the entire blockchain and in the event I have to access my wallet on a new computer (or alternative machine of my own), I wont have to wait a day.. it's download Electrum, re-create from Seed, and boom. Is this correct?

For added security, it allows the current wallet to be encrypted as well (but if I'm understanding correctly, once you recreate a wallet from a seed, the 'encrypted' part of it goes out the window and you must now re-encrypt otherwise the wallet is wide open to spend with, yes?)

And in the unlikely event the Electrum servers all go down forever.. I would still be able to re-create my wallet from my seed? Where? And more importantly, where would my private keys be if that has to be the case?

A little help from fellow Electrum OSX'rs would be awesome.. especially since it's a big switch and one always gets paranoid when trusting a new "place" with your money

FYI - Im on OSX Mavericks, and would be installing Electrum 1.9.4 (NOT 1.9.5 since I understand there are some issues with OSX and that version still being hammered out), and I'm also not too keen on offline paper wallet super cold storage either since I'm pretty secure (firewall, filevault, encrypted volumes etc).

So.. yes? Send my BTC from QT over to Electrum in 1 swoop and never look back? Or nay?

Thanks guys!

In order,

Correct, correct, correct, yes, using the program or the code from github or an application like carbonwallet.com, the same private keys can always be regenerated using the technique used by electrum but as long as the project exists on github you will be fine, Yes send them over but make sure to memorise that seed!!