Super newbie here.
When I download electrum and start it, it creates a wallet for me.
In the "receive" tab I see a collapsible tree where the root is labeled "Main Account" and underneath it are five addresses.
I can label each address. And I was thinking of a scheme like this:
address1 "Mining account" (Will supply this address to my mining pool where asked to supply an address for collecting payment.)
address2 "Public account" (Will transfer funds here when I want to spend them)
address3 "Private account" (I know this cannot truly be "private" but I would transfer any funds received in either of the other two addresses to this address.)
However the electrum doc states
"New addresses are generated automatically when your receiving addresses are used"
How does this work then? For instance I see forum sigs which include BTC addresses for donations or whatever. These people cannot possibly be changing their forum sig every time they receive a payment.
How "temporary" are these addresses? And because of this, would the above scheme be better off using different wallets rather than different addresses within the wallets?
The electrum doc mentions:
- Seedless wallets can generate addresses to receive Bitcoins, but cannot send them.
- To create a seedless wallet start Electrum, select the restore option and enter your Master Public Key instead of your seed.
- You can use seedless wallets in Point Of Sale systems.
If a seedless wallet cannot send them, then what is the point?
What would be the best way to implement a scheme as the above?
Use wallets for the "accounts" I want? Use addresses for the "accounts" I want? Or something else?
I cannot see where in electrum to create anything outside of this "Main Account" it calls it in the receive tab.
I guess these addresses do not make sense as accounts, given that when sending I cannot choose from which address it is sent? So I would have to use different wallets to implement the above?
Thanks for any tips.