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congrats @bestcoin_59 !
Thanks. I never thought i would win. Thanks a lot ABCbits and Forsyth Jones. The information provided is very useful.
I understand that the Electrum server is *between* the Electrum client (=Wallet) and Bitcoin node. In fact, the Electrum server, after asking Bitcoin Core, fulfill the Electrum client request. Due to the decentralized nature of the blockchain, a full node is like a local copy of the blockchain. Am i right?
Still, and although it might not be safe, would it possible to tell the Electrum server to rely on a Bitcoin node hosted remotely by somebody that i trust? I know it might not be very good for the safety of the blockchain (if everybody does that the system becomes centralized), In other words is it possible for several Electrum servers to use the same Bitcoin node?
Also, is the only benefit of running (hosting) a Bitcoin node and an Electrum server is to avoid public servers (therefore ran by strangers) to associate a wallet with an IP? Also since my IP has already been associated to the btc transactions already made, don't you think it is too late? Only future transactions, and if never rely on a public server again would be private.
Cheers
I understand that the Electrum server is *between* the Electrum client (=Wallet) and Bitcoin node. In fact, the Electrum server, after asking Bitcoin Core, fulfill the Electrum client request. Due to the decentralized nature of the blockchain, a full node is like a local copy of the blockchain. Am i right?
Still, and although it might not be safe, would it possible to tell the Electrum server to rely on a Bitcoin node hosted remotely by somebody that i trust? I know it might not be very good for the safety of the blockchain (if everybody does that the system becomes centralized), In other words is it possible for several Electrum servers to use the same Bitcoin node?
Also, is the only benefit of running (hosting) a Bitcoin node and an Electrum server is to avoid public servers (therefore ran by strangers) to associate a wallet with an IP? Also since my IP has already been associated to the btc transactions already made, don't you think it is too late? Only future transactions, and if never rely on a public server again would be private.
Cheers
Do you mean that, according to the seller answer, the USB stick the seller sells *would work* as a ledger nano?
OR
The seller sells a live OS with Coinomi installed on a USB device
OR
The seller sells a USB device with a *portable* version of Coinomi on it?
It's probably 2nd or 3rd option.OR
The seller sells a live OS with Coinomi installed on a USB device
OR
The seller sells a USB device with a *portable* version of Coinomi on it?
security level as TailOS.
⭐ Merited by ABCbits (1)
Just download Bitcoin Core and make sure you have an SSD (HDD will also work, but I recommend using SSD) with a capacity of at least 1TB or 2TB ~ currently the Bitcoin network weighs around 700GB (I haven't checked it for a while).
Optionally, you can enable pruning so you don't need to keep the entire blockchain stored and the node will only download and check the recent blocks and delete the old ones, you can set the size manually.
Optionally, you can enable pruning so you don't need to keep the entire blockchain stored and the node will only download and check the recent blocks and delete the old ones, you can set the size manually.
I tried to dig a little further. Here are some links related:
https://www.reddit.com/r/Bitcoin/comments/ywarm9/how_to_make_electrum_connect_to_my_node_and/?rdt=34579
https://github.com/chris-belcher/electrum-personal-server
From what i read:
Bitcoin Core = software programmed to decide which block chain contains valid transactions.
Bitcoin Node = Electrum Personal server which rely on Bitcoin Core
I still have one question though; When i use the Electrum wallet (client), i can see, at the beginning that
multiple nodes are "synchronized" (for redundancy and safety?). In case i run my own bitcoin node, i guess i will
ask Electrum to rely only on my node (for privacy).
So here is the question:
Should i understand that redundancy is mandatory for nodes ran by strangers, and that since i trust my own node, i don't
need redundancy? I'm apologize if i'm not clear...
Also correct me if i'm wrong, but there is no rewards in running a BTC node, although it is not the case for the Ethereum network.
Cheers
Learn how to use the 2 setup software:
1st device holds the private keys and never connects to the internet,
2nd device broadcasts the raw transaction created on the 1st device
That's the fundamental rule. I agree with this.1st device holds the private keys and never connects to the internet,
2nd device broadcasts the raw transaction created on the 1st device
This is the foundation of good security when dealing with Bitcoin. Also never use any device that has been created to be used with crypto, even if they are Bitcoin-only, because they make you stand out. You want a generic laptop, a generic USB, things that don't say you hold any coins. And stop dealing in altcoins, they are fundamentally not safe, stick to BTC and that's it.
Can you please elaborate on your last sentence. What do you mean when you say: "And stop dealing in altcoins, they are fundamentally not safe" 
Regards
Just for curiosity, i finally got an answer from the seller. Indeed, i sent him a message some days ago, and forgot about it since i though i won't get any answer. I was wrong. Although i gave up the idea of buying from him, i'm puzzled regarding his answer: "We actually install Coinomi wallet onto the device as a default but the the USB can certainly work with electrum as well!"
What makes you puzzled? I think they mean you can install Electrum and store Electrum's data on USB device they sell. Although Coinomi have mixed reputation since in past,
1. Switched from open source to closed source wallet.
2. There was time interval where they doesn't upgrade their software and active in social media.
3. They send generated seed phrase to google server.
On side note, i just noticed that ebay mentioned 11 sold of those USB have been sold.
OR
The seller sells a live OS with Coinomi installed on a USB device
OR
The seller sells a USB device with a *portable* version of Coinomi on it?
3. They send generated seed phrase to google server.
Is it true? This red red flag and an absolute NO GO for me.Just for curiosity, i finally got an answer from the seller. Indeed, i sent him a message some days ago, and forgot about it since i though i won't get any answer. I was wrong. Although i gave up the idea of buying from him, i'm puzzled regarding his answer: "We actually install Coinomi wallet onto the device as a default but the the USB can certainly work with electrum as well!"
Remember that you can use any USB flash drive as a cold storage method, as long as you correctly follow the recommended security steps, such as having a computer exclusively for this purpose (with TailsOS installed on the device or bootable on the USB), where device1will be offline (only to sign transactions) and device2 will be online and the master public key will be stored on it to monitor and assemble transactions (to transfer to the offline device).1 - Device1 must have wallets such as Electrum, Sparrow, Bitcoin Core... installed and it must be permanently disconnected from the internet (you can consider removing the network card). Once the device is in air-gapped mode, you can create your wallet, write down the backup wallet, add an encryption passphrase to protect the keystore (Don't confuse this with BIP-39 passphrase or electrum seed extension, where you can optionally enable it as well.) and copy the extended public key to device2 online via QR-Code or USB drive.
2 - Device2 can be used normally and will have the aforementioned wallets installed and transactions will be created through it. You can copy the PSBT via QR-Code or USB Drive (the USB Drive will be for exclusive use for this purpose) to device1 to sign and then, with the transaction signed, return to device2 to transmit the transaction.
add an encryption passphrase to protect the keystore
I assume encryption passphrase = electrum passwordSo that the Electrum data files in the offline computer is encrypted
I recommend that you run a full node such as bitcoin core on the online device to transmit the transactions themselves.
Would be interested to learn how. I guess i would have to download the whole blockchain, would't i?Just for curiosity, i finally got an answer from the seller. Indeed, i sent him a message some days ago, and forgot about it since i though i won't get any answer. I was wrong. Although i gave up the idea of buying from him, i'm puzzled regarding his answer: "We actually install Coinomi wallet onto the device as a default but the the USB can certainly work with electrum as well!"
[SecuX is a closed-source hardware wallet, and while they did an 'acceptable' job with W20 and V20 models (it isn't compatible with electrum and other bitcoin clients, hence the 'acceptable'), the company's recent products are crap, and to me, if you're going to use an 'offline' signing device that's closed-source, you're better off setting up cold storage on an old air-gapped deevice with a privacy-focused Linux distro like TailsOS.
Thanks for your feedback. It looks as if the perfect hardware wallet has not yet been invented