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Rewrite hot wallet section; fix quotes, apostrophes, backticks

The MMGen Project 2019-05-31 12:01:00 +00:00
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Getting-Started-with-MMGen.md

@ -21,7 +21,7 @@
* [Hidden incognito wallets](#a_hi)
#### [Advanced Topics](#a_at)
* [Hot wallets and key-address files](#a_hw)
* [Hot wallets](#a_hw)
* [Transaction Fees](#a_fee)
* [BIP 125 replace-by-fee (RBF) transactions](#a_rbf)
* [With an online (hot) wallet](#a_rbf_onl)
@ -33,8 +33,8 @@
Before you begin, note that the filenames, seed IDs and Bitcoin addresses used
in this primer are intentionally invalid and are for purposes of illustration
only. As you perform the exercises, you'll naturally substitute real ones in
their place.
only. As you perform the exercises, you will substitute real ones in their
place.
The up arrow (for repeating commands) and tab key (or Ctrl-I) (for completing
commands and filenames) will speed up your work at the command line greatly.
@ -42,8 +42,8 @@ commands and filenames) will speed up your work at the command line greatly.
#### <a name='a_iv'>Invocation</a>
The MMGen wallet system is not a single program but a suite of lightweight
commands run from the command line. MMGen's commands all begin, not
surprisingly, with 'mmgen'. To see a list of available commands, type 'mmgen'
commands run from the command line. MMGen’s commands all begin, not
surprisingly, with `mmgen`. To see a list of available commands, type `mmgen`
followed by the TAB key. Every mmgen command has a help screen displaying
detailed usage and options information. To view it, type the command name
followed by `--help`. Note that most command options have long and short
@ -58,7 +58,7 @@ essential information. These options are available for all MMGen commands. The
information and can be used to make some commands non-interactive and scriptable.
Certain options require parameters, such as the `--seed-len` option, for
instance, which takes a parameter of '128', '192' or '256'. Commands may also
instance, which takes a parameter of `128`, `192` or `256`. Commands may also
take optional or required arguments. For example, `mmgen-addrgen` requires an
address or range of addresses as an argument. Arguments must always follow
options on the command line.
@ -73,36 +73,36 @@ Sample MMGen command invocations:
#### <a name='a_cf'>Configuration file</a>
Just like Bitcoin Core, MMGen has its own data directory and configuration file.
The data directory is '.mmgen' in the user's home directory and the config
file is 'mmgen.cfg'. The config file contains global settings which you may
The data directory is `.mmgen` in the user’s home directory and the config
file is `mmgen.cfg`. The config file contains global settings which you may
wish to edit at some point to customize your installation. These settings
include the maximum transaction fee; the user name, password and hostname
used for communicating with bitcoind; and a number of others.
#### <a name='a_ts'>Bob and Alice regtest mode</a>
If you just want to quickly try out MMGen, it's possible to perform all wallet
If you just want to quickly try out MMGen, it’s possible to perform all wallet
generation, wallet format conversion, address and key generation, and address
import operations on an offline computer with no blockchain and no bitcoin
balance.
If you want to practice creating, signing and sending transactions with real
bitcoins, however, you'll need a fully synced blockchain and some coins to play
bitcoins, however, you’ll need a fully synced blockchain and some coins to play
with. This involves an expenditure of both time and money.
Fortunately, there's an alternative: MMGen's **regtest mode** creates a virtual
Fortunately, there’s an alternative: MMGen’s **regtest mode** creates a virtual
network of two users, Bob and Alice, who transact with each other on a private
blockchain. All of MMGen's functionality is available in regtest mode, making
blockchain. All of MMGen’s functionality is available in regtest mode, making
it an ideal way to learn to use the MMGen wallet without risking real coins.
You may wish to pause here and perform the steps in the tutorial [MMGen Quick
Start with Regtest Mode][06] before continuing on.
Start with Regtest Mode][04] before continuing on.
### <a name='a_bo'>Basic Operations</a>
#### <a name='a_gw'>Generate an MMGen wallet (offline computer)</a>
*NOTE: MMGen supports a “default wallet” feature. After generating your wallet,
you'll be prompted to make it your default. If you answer 'y', the wallet will
you’ll be prompted to make it your default. If you answer ‘y’, the wallet will
be stored in your MMGen data directory and used for all future commands that
require a wallet or other seed source.*
@ -111,7 +111,7 @@ location other than your MMGen data directory. Otherwise, it’s recommended,
as it frees you from having to type your wallet filename on the command line.*
*The following examples suppose that you’ve chosen to use a default wallet.
If you haven't, then you must include the path to a wallet file or other seed
If you haven’t, then you must include the path to a wallet file or other seed
source in all commands where a seed source is required.*
On your offline computer, generate an MMGen wallet:
@ -120,15 +120,15 @@ On your offline computer, generate an MMGen wallet:
...
MMGen wallet written to file '/home/username/.mmgen/89ABCDEF-76543210[256,3].mmdat'
‘89ABCDEF’ is the Seed ID; ‘76543210’ is the Key ID. These are randomly
`89ABCDEF` is the Seed ID; `76543210` is the Key ID. These are randomly
generated, so your IDs will of course be different than these.
The Seed ID never changes and is used to identify all keys/addresses generated
by this wallet. Since it's your wallet's primary identifier, you should
by this wallet. Since it’s your wallet’s primary identifier, you should
memorize it visually. The Key ID changes whenever the wallet’s password or hash
preset are changed and doesn't need to be memorized.
preset are changed and doesn’t need to be memorized.
‘256’ is the seed length; ‘3’ is the scrypt hash preset. These values are
`256` is the seed length; `3` is the scrypt hash preset. These values are
configurable: type `mmgen-walletgen --help` for details.
Before moving any funds into your MMGen wallet, you should back it up in several
@ -143,9 +143,9 @@ printed out on paper.
Another highly recommended way to back up your wallet is to generate a mnemonic
or seed file [as described below](#a_ms) and memorize it. If you have an
average or better memory, you'll find memorizing your mnemonic to be
average or better memory, you’ll find memorizing your mnemonic to be
surprisingly easy. And the peace of mind that comes with knowing that your coins
are recoverable **even if you lose all your physical backups** can't be
are recoverable **even if you lose all your physical backups** can’t be
overestimated.
#### <a name='a_ga'>Generate addresses (offline computer)</a>
@ -170,12 +170,12 @@ Now generate ten Segwit-P2SH addresses with your just-created wallet:
10 3H7vVTk4ejUbQXw45I6g5qvPBSe9bsjDqh
}
Note that the address range ‘1-10’ specified on the command line is included in
Note that the address range `1-10` specified on the command line is included in
the resulting filename.
MMGen currently supports four Bitcoin address types: ‘legacy’ (uncompressed
P2PKH), ‘compressed’ (compressed P2PKH), ‘segwit’ (P2SH-P2WPKH) and ‘bech32’
(native Segwit), denoted by the code letters ‘L’, ‘C’, ‘S’ and ‘B’ respectively.
MMGen currently supports four Bitcoin address types: `legacy` (uncompressed
P2PKH), `compressed` (compressed P2PKH), `segwit` (P2SH-P2WPKH) and `bech32`
(native Segwit), denoted by the code letters `L`, `C`, `S` and `B` respectively.
Address types can be referred to either in full or by code letter. To generate
Bech32 addresses, for example, you can specify either `--type=bech32` or
`--type=B` on the command line.
@ -183,8 +183,8 @@ Bech32 addresses, for example, you can specify either `--type=bech32` or
For backwards compatibility, legacy addresses are generated by default, but this
is probably not what you want unless you have a very old MMGen installation
created before compressed address support was added. Most new users will wish
to generate either Segwit-P2SH (‘S’) or Bech32 (‘B’) addresses instead. For
BCH, which lacks Segwit support, compressed (‘C’) addresses are the best choice.
to generate either Segwit-P2SH (`S`) or Bech32 (`B`) addresses instead. For
BCH, which lacks Segwit support, compressed (`C`) addresses are the best choice.
Generation examples for various address types:
@ -218,7 +218,7 @@ filename.
To fund your MMGen wallet, first import the addresses into your tracking wallet
and then spend some BTC into any of them. If you run out of addresses, generate
more. To generate a hundred addresses you’d specify an address range of
‘1-100’.
`1-100`.
Let’s say you’ve decided to spend some BTC into the first four addresses above.
Begin by importing these addresses into the tracking wallet on your online
@ -250,7 +250,7 @@ adding labels to the addresses you’ve chosen to spend to:
10 3H7vVTk4ejUbQXw45I6g5qvPBSe9bsjDqh
}
Any line beginning with ‘#’ is a comment. Comments may be placed at the ends
Any line beginning with `#` is a comment. Comments may be placed at the ends
of lines as well.
Save the file, copy it onto a USB stick and transfer it to your online computer.
@ -258,8 +258,8 @@ Save the file, copy it onto a USB stick and transfer it to your online computer.
#### <a name='a_ia'>Import addresses (online computer)</a>
On your online computer, go to your bitcoind data directory and move any
existing 'wallet.dat' file out of harm’s way. Start bitcoind and let it
generate a new 'wallet.dat'; this you’ll use as your tracking wallet. Import
existing `wallet.dat` file out of harm’s way. Start bitcoind and let it
generate a new `wallet.dat`; this you’ll use as your tracking wallet. Import
your ten addresses into the new tracking wallet with the command:
$ mmgen-addrimport --batch my.addrs
@ -287,10 +287,10 @@ addresses where the funds are stored in a separate file to use during signing.*
Note that each address has a unique ID (the ‘MMGen ID’) consisting of a Seed ID,
address type code letter, and index. Addresses of different types may be
imported into the same tracking wallet, and since they're generated from different
sub-seeds you needn't worry about key reuse. For example, the addresses
imported into the same tracking wallet, and since they’re generated from different
sub-seeds you needn’t worry about key reuse. For example, the addresses
`89ABCDEF:S:1` and `89ABCDEF:B:1` are cryptographically distinct: no one but the
wallet's owner can see that they were generated from the same seed.
wallet’s owner can see that they were generated from the same seed.
Now that your addresses are being tracked, you may go ahead and send some BTC to
them over the Bitcoin network. If you send 0.1, 0.2, 0.3 and 0.4 BTC
@ -310,36 +310,36 @@ have confirmed:
Now that you have some BTC under MMGen’s control, you’re ready to create a
transaction. Note that transactions are harmless until they’re signed and
broadcast to the network, so feel free to experiment and create transactions
with different combinations of inputs and outputs. Of course, if you're using
with different combinations of inputs and outputs. Of course, if you’re using
testnet or regtest mode, then you risk nothing even when broadcasting
transactions.
To send 0.1 BTC to the a third-party address 3AmkUxrfy5dMrfmeYwTxLxfIswUCcpeysc,
for example, and send the change back to yourself at address 89ABCDEF:S:5, you’d
issue the following command:
To send 0.1 BTC to the a third-party address
`3AmkUxrfy5dMrfmeYwTxLxfIswUCcpeysc`, for example, and send the change back to
yourself at address `89ABCDEF:S:5`, you’d issue the following command:
$ mmgen-txcreate 3AmkUxrfy5dMrfmeYwTxLxfIswUCcpeysc,0.1 89ABCDEF:S:5
'mmgen-txcreate' accepts either MMGen IDs or Bitcoin addresses as arguments.
`mmgen-txcreate` accepts either MMGen IDs or Bitcoin addresses as arguments.
NOTE: For backwards compatibility, legacy addresses may omit the code letter
from the MMGen ID. Thus address ‘89ABCDEF:L:5’ may be expressed as
‘89ABCDEF:5’. For other address types the code letter is mandatory.
from the MMGen ID. Thus address `89ABCDEF:L:5` may be expressed as
`89ABCDEF:5`. For other address types the code letter is mandatory.
To send 0.1 BTC to each of addresses 89ABCDEF:S:6 and 89ABCDEF:S:7 and return
the change to 89ABCDEF:S:8, you’d do this:
To send 0.1 BTC to each of addresses `89ABCDEF:S:6` and `89ABCDEF:S:7` and return
the change to `89ABCDEF:S:8`, you’d do this:
$ mmgen-txcreate 89ABCDEF:S:6,0.1 89ABCDEF:S:7,0.1 89ABCDEF:S:8
As you can see, each send address is followed by a comma and the amount. The
address with no amount is the change address. All addresses belonging to your
seed in the above examples are already imported and tracked, so you’re OK. If
you wanted to send to 89ABCDEF:S:11, you'd have to import it first.
you wanted to send to `89ABCDEF:S:11`, you’d have to import it first.
Let’s go with the first of our two examples above.
Upon invocation, the 'mmgen-txcreate' command shows you a list of your
Upon invocation, the `mmgen-txcreate` command shows you a list of your
unspent outputs along with a menu allowing you to sort the outputs by four
criteria: transaction ID, address, amount and transaction age. Your overall
balance in BTC appears at the top of the screen. In our example, the display
@ -356,7 +356,7 @@ will look something like this:
Display options: show [D]ays, [g]roup, show [m]mgen addr, r[e]draw screen
'q'=quit view, 'p'=print to file, 'v'=pager view, 'w'=wide view, 'l'=add label:
After quitting the menu with 'q', you’ll see the following prompt:
After quitting the menu with ‘q’, you’ll see the following prompt:
Enter a range or space-separated list of outputs to spend:
@ -383,12 +383,12 @@ using your default wallet:
...
Signed transaction written to file 'FEDCBA[0.1].sigtx'
Note that the signed transaction file has a new extension, '.sigtx'.
Note that the signed transaction file has a new extension, `.sigtx`.
#### <a name='a_st'>Send a transaction (online computer)</a>
Now you’re ready for the final step: broadcasting the transaction to the
network. Start bitcoind if it's not already running, and make sure your
network. Start bitcoind if it’s not already running, and make sure your
blockchain is fully synced. Then copy the signed transaction file to your
online computer and issue the command:
@ -396,9 +396,9 @@ online computer and issue the command:
...
Transaction sent: abcd1234....
Like all MMGen commands, 'mmgen-txsend' is interactive, so you’ll be prompted
Like all MMGen commands, `mmgen-txsend` is interactive, so you’ll be prompted
before the transaction is actually broadcast. If the send was successful, a
64-character hexadecimal Bitcoin Transaction ID will be displayed ('abcd1234...'
64-character hexadecimal Bitcoin Transaction ID will be displayed (`abcd1234...`
in our case).
Once the transaction is broadcast to the network and confirmed, your address
@ -437,11 +437,11 @@ Using your default wallet from the exercises above, generate a mnemonic:
Since our seed is 256 bits long, the mnemonic contains 24 words. 128-bit and
192-bit seeds generate shorter mnemonics of 12 and 18 words, respectively.
Wallets with these seed lengths can be generated using the `--seed-len` option
to 'mmgen-walletgen'.
to `mmgen-walletgen`.
Though some consider 128 bits of entropy to provide adequate security for the
foreseeable future, it’s advisable to stick to the default 256-bit seed length.
You'll find that even a 24-word mnemonic is not difficult to memorize.
You’ll find that even a 24-word mnemonic is not difficult to memorize.
NOTE: MMGen mnemonics are generated from the Electrum wordlist, but using
ordinary base conversion instead of Electrum’s more complicated algorithm.
@ -470,7 +470,7 @@ Note that the regenerated wallet has a different Key ID but of course the same
Seed ID.
An alternative to mnemonics, seed files provide yet another way of representing
your seed. They bear the extension '.mmseed' and are generated exactly the same
your seed. They bear the extension `.mmseed` and are generated exactly the same
way as mnemonic files:
$ mmgen-walletconv -o seed
@ -500,14 +500,14 @@ a simple Unix shell command:
$ echo -n XnyC NfPH piuW dQ2d nM47 VU | tr -d ' '| sha256sum | cut -c 1-6
0fe02f
Or you can do the same thing with 'mmgen-tool':
Or you can do the same thing with `mmgen-tool`:
$ mmgen-tool str2id6 'XnyC NfPH piuW dQ2d nM47 VU'
0fe02f
Beginning with version 0.9.0, MMGen also supports seed files in hexadecimal
(hexseed) format. Hexseed files are identical to seed files but encoded in
hexadecimal rather than base 58. They bear the extension '.mmhex':
hexadecimal rather than base 58. They bear the extension `.mmhex`:
$ cat FE3C6545.mmhex
afc3fe 456d 7f5f 1c4b fe3b c916 b875 60ae 6a3e
@ -535,7 +535,7 @@ format:
Enter your 12-word mnemonic, hitting RETURN or SPACE after each word:
Enter word #1:
MMGen prompts you for each of the mnemonic's words individually, checking it for
MMGen prompts you for each of the mnemonic’s words individually, checking it for
validity and reprompting if necessary. What you type is not displayed on the
screen of course, being secret data.
@ -563,14 +563,14 @@ the wallet is hidden, or whether the file or partition contains anything of
interest at all, for that matter.
An incognito wallet with a reasonably secure password could even be hidden on
unencrypted cloud storage. Hiding your wallet at some offset in a 1 GB file
unencrypted cloud storage. Hiding your wallet at some offset in a 1GB file
increases the difficulty of any attack by a factor of one billion, assuming
again that any potential attacker even knows or suspects you have an MMGen
wallet hidden there.
If you plan to store your incognito wallet in an insecure location such as cloud
storage, you’re advised to use a strong scrypt (hash) preset and a strong
password. These can be changed using the 'mmgen-passchg' utility:
password. These can be changed using the `mmgen-passchg` utility:
$ mmgen-passchg -p 5 89ABCDEF-01234567[256,3].mmdat
...
@ -583,7 +583,7 @@ password. These can be changed using the 'mmgen-passchg' utility:
MMGen wallet written to file '89ABCDEF-87654321[256,5].mmdat'
The scrypt preset is the numeral in the wallet filename following the seed
length. As you can see, it’s now changed to '5'. Now export your new toughened
length. As you can see, it’s now changed to `5`. Now export your new toughened
wallet to incognito format, using the `-k` option to leave the passphrase
unchanged:
@ -637,7 +637,7 @@ MMGen wallet, mnemonic or seed file to generate addresses and sign transactions:
With the `-o hincog` option, incognito wallet data can be created and hidden at
a specified offset in a file or partition in a single convenient operation, with
the random file being created automatically if necessary. Here’s how you’d
create a 1GB file 'random.dat' and hide a wallet in it at offset 123456789:
create a 1GB file `random.dat` and hide a wallet in it at offset `123456789`:
$ mmgen-walletconv -k -o hincog -J random.dat,123456789 89ABCDEF-87654321[256,5].mmdat
...
@ -649,8 +649,8 @@ create a 1GB file 'random.dat' and hide a wallet in it at offset 123456789:
Data written to file 'random.dat' at offset 123456789
Your ‘random’ file can now be uploaded to a cloud storage service, for example,
or some other location on the Net, preferably non-public one (in a real-life
situation you will choose a less obvious offset than '123456789' though, won’t
or some other, preferably non-public, location on the Internet (in a real-life
situation you will choose a less obvious offset than `123456789` though, won’t
you?).
Now let’s say at some point in the future you download this file to recover
@ -679,75 +679,83 @@ Transaction signing uses the same syntax:
### <a name='a_at'>Advanced Topics</a>
#### <a name='a_hw'>Hot wallets and key-address files</a>
#### <a name='a_hw'>Hot wallets</a>
Chances are you'll want to use MMGen not only for cold storage but for
day-to-day transactions too. For this you'll need to place a portion of your
funds in a “hot wallet” on your online computer. With hot wallet funds you
can use the command `mmgen-txdo` to quickly create, sign and send transactions
in one operation.
Chances are you’ll want to use MMGen not only for cold storage but for
day-to-day transactions too. For this you’ll need to place a portion of your
funds in a “hot wallet” on your online computer. With a hot wallet you can use
the command `mmgen-txdo` to quickly create, sign and send transactions in one
operation.
There are two hot wallet strategies you can use. The first is to generate a
separate MMGen wallet on your online computer for use as the hot wallet. The
advantage of this is convenience: you won't have to specify a wallet or seed
source on the command line. In addition, your hot wallet and cold wallet funds
will be easily distinguishable in your tracking wallet by their different Seed
IDs. The drawback of this strategy is that you now have two seeds that need
backing up or memorizing.
*Note: prior to Version 0.11.0, MMGen implemented hot wallets using [key-address
files][05], but these have now been obsoleted by [subwallets][06]. Information
on key-address files is archived [here][05] for the benefit of legacy
installations only.*
The other strategy, which avoids this drawback, is to partition your cold wallet
by mentally setting aside “hot” and “cold” address ranges. For example, you
might choose to reserve all addresses in the range 1-1000 for cold storage and
everything above that for your hot wallet.
*Additional note: instead of using a hot wallet, you might consider setting up
[transaction autosigning][07] on your offline machine. Autosigning makes it
possible to transact directly from cold storage in a secure and convenient way.
Autosigning is available for Linux-based systems only and works best with
Raspberry Pi and similar devices, for which LED support is provided.*
The next step is to create a key-address file for a sufficient number of “hot”
addresses to cover your day-to-day transaction needs for the foreseeable future.
A key-address file is just like an address file except that it contains keys as
well as addresses, thus functioning as a hot wallet for a range of addresses.
Assuming your hot address range begins at 1001, you could start by creating a
key-address file for a hundred hot addresses like this:
Setting up a hot wallet is easy. Using the [Subwallets][06] wiki page as your
guide, generate a subwallet on your offline machine for use as a hot wallet.
Since this wallet is going to be used in an online environment, make sure it’s
protected with a strong password and hash preset.
$ mmgen-keygen --type=segwit 1001-1100
$ mmgen-subwalletgen -p5 1L
...
Secret keys written to file '89ABCDEF-S[1001-1100].akeys.mmenc'
MMGen wallet written to file 'FC9A8735-ABCDEF00[256,5].mmdat'
`mmgen-keygen` prompts you for a password to encrypt the key-address file with.
This is a wise precaution, as it provides at least some security for keys that
will be stored on an online machine.
Copy the subwallet to a USB stick or other removable device.
Now copy the key-address file to your online machine and import the addresses
into your tracking wallet:
Now on your online computer, check your MMGen data directory for the presence of
wallet files:
$ mmgen-addrimport --batch --keyaddr-file '89ABCDEF-S[1001-1100].akeys.mmenc'
$ ls $HOME/.mmgen/*.mmdat
After funding your hot wallet by spending into some addresses in this range you
can do quickie transactions with these funds using the `mmgen-txdo` command:
If any are present (there shouldn’t be if you’ve been following this guide!),
move them out of harm’s way, or copy them to a backup location and securely
delete the originals with `wipe` or `sdelete` if they’re securing any funds.
$ mmgen-txdo -M '89ABCDEF-S[1001-1100].akeys.mmenc' 1AmkUxrfy5dMrfmeYwTxLxfIswUCcpeysc,0.1 89ABCDEF:S:1010
Copy the subwallet file to your MMGen data directory, making it your default
wallet for the online machine:
$ cp 'FC9A8735-ABCDEF00[256,5].mmdat' $HOME/.mmgen
Securely delete the original file.
Generate a range of addresses with your online default wallet/subwallet and
import them into your tracking wallet:
$ mmgen-addrgen --type=bech32 1-10
$ mmgen-addrimport FC9A8735-B*.addrs
Send some coins to an address or addresses in this range using your method of
choice.
Now you can spend from these addresses using `mmgen-txdo`, creating, signing
and sending transactions in one operation:
$ mmgen-txdo 1AmkUxrfy5dMrfmeYwTxLxfIswUCcpeysc,0.1 FC9A8735:S:2
(choose an input from wallet FC9A8735)
...
Transaction sent: dcea1357....
The `--mmgen-keys-from-file` or `-M` option is required when using a key-address
file in place of a default wallet. Note that your change address
89ABCDEF:S:1010 is within the range covered by the key-address file, so your
change funds will remain “hot spendable”.
Using `mmgen-txdo` with a default online hot wallet is even simpler. For a hot
wallet with Seed ID 0FDE89AB, for instance, creating and sending a transaction
would look like this:
$ mmgen-txdo 1AmkUxrfy5dMrfmeYwTxLxfIswUCcpeysc,0.1 0FDE89AB:S:10
Transaction sent: abcd1234....
Bear in mind that your subwallet/online default wallet doesn’t require a backup,
as it can always be regenerated from its offline parent. If you ever wish to
delete it, however, you should do so securely if there are still funds under its
control.
#### <a name='a_fee'>Transaction Fees</a>
MMGen gives you several options for dealing with transaction fees.
Firstly, and most simply, you may do nothing, in which case MMGen will calculate
the fee automatically using bitcoind’s 'estimatefee' RPC call. You can adjust
the fee automatically using bitcoind’s `estimatefee` RPC call. You can adjust
the estimated fee by any factor using the `--tx-fee-adj` option, a handy feature
when you need transactions to confirm a bit more quickly. MMGen has no default
fee, so if network fee estimation fails for any reason, you'll be prompted to
fee, so if network fee estimation fails for any reason, you’ll be prompted to
enter the fee manually.
Secondly, you may specify the fee as an absolute BTC amount (a decimal number).
@ -757,8 +765,8 @@ creating transactions with `mmgen-txcreate`, `mmgen-txdo` or `mmgen-txbump`.
Thirdly, instead of using an absolute BTC amount, you may specify the fee in
satoshis per byte and let MMGen calculate the fee based on the transaction size.
This also works both on the command line and at the interactive prompt. The
satoshis-per-byte specification is an integer followed by the letter 's'. A fee
of 90 satoshis per byte is thus represented as '90s'.
satoshis-per-byte specification is an integer followed by the letter `s`. A fee
of 90 satoshis per byte is thus represented as `90s`.
MMGen has a hard maximum fee (currently 0.003 BTC) which is alterable only in the
config file. Thus MMGen will never create or broadcast any transaction with a
@ -777,7 +785,7 @@ creating replacement transactions from existing replaceable ones.
`mmgen-txbump` can create, sign and send transactions in a single operation if
desired.
Continuing the examples from our primer above, we'll examine two RBF scenarios,
Continuing the examples from our primer above, we’ll examine two RBF scenarios,
one for a hot wallet and one for a cold storage wallet. In the first scenario,
initial and replacement transactions will be created, signed and sent in one
operation. In the second, a batch of replacement transactions with
@ -794,8 +802,8 @@ satoshis per byte:
...
Transaction sent: dcba4321....
Here you've sent 0.1 BTC to a third-party address and the change back to
yourself at address #5 of your default hot wallet with Seed ID 0FDE89AB.
Here you’ve sent 0.1 BTC to a third-party address and the change back to
yourself at address #5 of your default hot wallet with Seed ID `0FDE89AB`.
Note that the fee is shown in the filename after the send amount. The presence
of the fee in the filename identifies the transaction as replaceable.
@ -810,11 +818,11 @@ and send a replacement transaction with a higher fee, say 100 satoshis per byte:
Transaction sent: eef01357....
The `--send` switch instructs `mmgen-txbump` to sign and send the transaction
after creating it. The `--output-to-reduce` switch with an argument of 'c'
requests that the increased fee be deducted from the change ('c') output, which
after creating it. The `--output-to-reduce` switch with an argument of `c`
requests that the increased fee be deducted from the change (`c`) output, which
is usually what is desired. If you want it taken from some other output,
identify the output by number. Note that the resulting replacement transaction
has a different identifier, since it's a new transaction.
has a different identifier, since it’s a new transaction.
If this transaction also fails to confirm, then repeat the above step as many
times as necessary to get a confirmation, increasing the fee each time. The
@ -822,9 +830,6 @@ only thing you have to modify with each iteration is the argument to `--tx-fee`.
To reduce your typing even further, use the `--yes` switch to skip all
non-essential prompts.
Note that if you're using a key-address file instead of a default hot wallet,
you'll need to supply it on the command line as a parameter to the `-M` option.
#### <a name='a_rbf_onf'>With an offline (cold storage) wallet</a>
To achieve the same result as in the above example using a cold wallet, just
@ -858,12 +863,16 @@ Copy the files to an empty folder, transfer the folder to your offline machine a
Then copy the signed transaction files back to your online machine and broadcast
them in turn until you get a confirmation:
$ mmgen-txsend FEDCBC[0.1,50].sigtx # ...if this doesn't confirm, then
$ mmgen-txsend 3EBB00[0.1,100].sigtx # ...if this doesn't confirm, then
$ mmgen-txsend 124FFF[0.1,150].sigtx # ...if this doesn't confirm, then
$ mmgen-txsend FEDCBC[0.1,50].sigtx # ...if this doesn’t confirm, then
$ mmgen-txsend 3EBB00[0.1,100].sigtx # ...if this doesn’t confirm, then
$ mmgen-txsend 124FFF[0.1,150].sigtx # ...if this doesn’t confirm, then
$ mmgen-txsend 73DABB[0.1,200].sigtx
[01]: Tracking-and-spending-ordinary-Bitcoin-addresses
[02]: https://tpfaucet.appspot.com
[03]: Recovering-Your-Keys-Without-the-MMGen-Software
[06]: MMGen-Quick-Start-with-Regtest-Mode
[04]: MMGen-Quick-Start-with-Regtest-Mode
[05]: Key-address-files
[06]: Subwallets
[07]: autosign-[MMGen-command-help]

47
Key-address-files.md Normal file

@ -0,0 +1,47 @@
*NOTE: Key-address files have now been obsoleted by [subwallets][U]. The
information on this page is provided for the benefit of legacy installations
only*
Chances are you'll want to use MMGen not only for cold storage but for
day-to-day transactions too. For this you'll need to place a portion of your
funds in a “hot wallet” on your online computer. With hot wallet funds you
can use the command `mmgen-txdo` to quickly create, sign and send transactions
in one operation.
You can partition your MMGen wallet by mentally setting aside “hot” and “cold”
address ranges. For example, you might choose to reserve all addresses in the
range 1-1000 for cold storage and everything above that for your hot wallet.
The next step is to create a key-address file for a sufficient number of “hot”
addresses to cover your day-to-day transaction needs for the foreseeable future.
A key-address file is just like an address file except that it contains keys as
well as addresses, thus functioning as a hot wallet for a range of addresses.
Assuming your hot address range begins at 1001, you could start by creating a
key-address file for a hundred hot addresses like this:
$ mmgen-keygen --type=segwit 1001-1100
...
Secret keys written to file '89ABCDEF-S[1001-1100].akeys.mmenc'
`mmgen-keygen` prompts you for a password to encrypt the key-address file with.
This is a wise precaution, as it provides at least some security for keys that
will be stored on an online machine.
Now copy the key-address file to your online machine and import the addresses
into your tracking wallet:
$ mmgen-addrimport --batch --keyaddr-file '89ABCDEF-S[1001-1100].akeys.mmenc'
After funding your hot wallet by spending into some addresses in this range you
can do quickie transactions with these funds using the `mmgen-txdo` command:
$ mmgen-txdo -M '89ABCDEF-S[1001-1100].akeys.mmenc' 1AmkUxrfy5dMrfmeYwTxLxfIswUCcpeysc,0.1 89ABCDEF:S:1010
...
Transaction sent: dcea1357....
The `--mmgen-keys-from-file` or `-M` option is required when using a key-address
file in place of a wallet. Note that your change address `89ABCDEF:S:1010` is
within the range covered by the key-address file, so your change funds will
remain “hot spendable”.
[U]: Subwallets

2
_Sidebar.md

@ -12,6 +12,7 @@
* [MMGen command help][5]
* [Recovering your keys without the MMGen software][6]
* [Altcoin and Forkcoin support (ETH, ETC, XMR, ZEC, LTC, BCH and 144 Bitcoin-derived alts)][7]
* [Subwallets][8]
[1]: Install-MMGen-on-Microsoft-Windows
[2]: Install-MMGen-on-Debian-or-Ubuntu-Linux
@ -20,3 +21,4 @@
[5]: MMGen-command-help
[6]: Recovering-Your-Keys-Without-the-MMGen-Software
[7]: Altcoin-and-Forkcoin-Support
[8]: Subwallets