Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

You don't need a wallet to generate addresses. I generate mine offline on a computer that cannot be connected to the internet (no wifi, no network cable). I print co-called paper "wallets" on a printer that has never had internet access.
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When I sweep an address into a wallet program, I transfer the bitcoins as quickly as possible to the intended recipient and then put the remainder back into secure cold storage.

I think your sweeping system can be improved: instead of doing it "as quickly as possible", why don't you sign offline? There's no need to expose the private key to an online system (other than for convenience for small daily expenses).

I'm thinking of this (and you already have the offline computer so you can skip some of the steps):

Quote from: LoyceV on February 19, 2021, 05:35:55 PM

Online:
Install Electrum on your PC.
Import your address to create a watch-only wallet.
Preview the transaction, Copy the unsigned transaction. Put it on a USB stick.

Offline and running without hard drive storage:
Get a Linux LIVE DVD. Use Knoppix or Tails for instance, or any other distribution that comes with Electrum pre-installed.
Unplug your internet cable. Close the curtains. Reboot your computer and start up from that DVD. Don't enter any wireless connection password. Keep it offline.
Start Electrum. Import your private key.
Copy your unsigned transaction from the USB stick, load it into Electrum.
CHECK the transaction in Electrum. Check the fees, check the amount, check all destination addresses (character by character).
If all is okay, sign the transaction. Copy it back to your USB stick.
Turn off the computer. That wipes the Live LINUX from memory and all traces are gone.

Online:
Use your normal online Electrum to (check again and) broadcast the transaction.

Improved? Sounds like a lot of unnecessary steps when simply sweeping the private key into a wallet (I usually use Mycelium) and then putting the leftovers into new addresses is so much simpler and faster.

Why complicate things?

It's a safer method. Your PC could have been hacked and, thereby, you Mycelium could have been affected.
How often this happens-maybe infrequently, but the internet is filled with stories of hacked accounts, albeit these stories are mostly on a s-tcoin side where they have "contracts" to worry about; bitcoin (so far) is much more straightforward.