How does the Bitcoin payment forwarding at work?


I'm not completely sure how the implementation for works as I have not tried it myself, but from my understanding what you want is to use a single private key with a corresponding public key that allows you to generate new addresses for every payment you receive, without the need to store more than one private key.

This can be achieved using HD wallets which was introduced with BIP32 that the link you have included refers to.

In simple words this features allows you to take a private key and apply a mathematical function to the private key to generate a new private key (with a corresponding public key and address). This allows you to use the first private key to spend all transactions received to address of the public key of the newly generated private key.

This function can also be applied to extended public keys, and therefore generate a new public key that can be spent using the private key of the public key that the newly generated public...

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Let’s face it, at times learning the ins and outs of Bitcoin when you’re a beginner can be daunting. Bitcoin at its core can be technical in nature (think of how technical it is to understand how the Internet works too) and for the layman, understanding its intricacies may prove difficult. Seeing the Blockchain address and transaction page for the first time may also be confusing. To make it easier to understand, we wanted to provide users with a breakdown of the Bitcoin addresses page, to help you understand exactly what it is you’re seeing and how to use it.

We’ll start top to bottom

We are using a random Bitcoin address pulled from a recent transaction in the blockchain as an example. Here is the URL:

On the upper left of the page, you will see the Summary section, which looks like this:

The Address is the Bitcoin public address. It is safe to share this with others. Never share...
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About a year ago when the Bitcoin train was just starting to gather steam, a friend turned to me and asked, “So why can’t you just copy a Bitcoin?”

This is a confusion that a lot of people have, and a fair one: the notion of a digital entity that can’t be easily copied is entirely unintuitive. In fact, the Bitcoin network is one of the coolest, and least understood technology in the popular consciousness right now. That’s a shame, because the underlying mechanics of Bitcoin is really pretty straightforward. You don’t even need any particularly hard math, if you’re willing to take a few things on faith.

We’ve covered, in the past, what Bitcoin is How To Explain Bitcoin To Anyone , how to use it safely How To Spend And Store Bitcoins Safely, Easily, and for Free , and even written a manual on the topic, but we’ve never really gotten into how it works....

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When we published our 4 Steps to keeping your Bitcoins safe guide about a month ago we said it’s important to back up your Bitcoin wallet. A Bitcoin wallet backup is basically a file that hold all of your private keys for your public addresses, so in case your Bitcoin wallet gets lost or stolen you can always get back your Bitcoin. Let me give you an example:

This guy accidentally threw away his hard drive which had a Bitcoin wallet installed on it with 7,500 Bitcoins….ouch. If he had created a back up he would be able to get them back again. Here is how the process looks like.

Step 1 – Open the wallet you want to back up

Whether it’s, Bitcoin QT, MultiBit or any other wallet.

Step 2 – Look for “Backup wallet” or “Export private keys”

Search inside the wallet’s menu until you find one of these options. Here is

And this is Bitcoin-QT:

And this is MultiBit:

Step 3 – Save your...

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Another bug has been discovered in a bitcoin wallet, leading to the theft of around 50 bitcoins. This time,'s web wallet was at fault, and the company is now offering refunds to users who lost bitcoins due to the flaw.

The popular Blockchain website primarily offers market data and serves as the main block chain explorer for the bitcoin currency. However, users can also create web-based wallets to send and receive bitcoins. The bug lies in the random number generator that the web wallet uses to sign bitcoin transactions. The random numbers are generated in web browsers using the JavaScript programming language. It was discovered on Monday, when a bitcoin user reported that he had 1.8 BTC (around $223) stolen.

"Funds from other addresses in this wallet were not affected. This leads me on thoughts that or Firefox may have some weakness in random number generator like the vulnerability was recently found in the Android, [sic]" he...

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Trying to get some help here as we haven't been successful with the Customer Support on (yet) and this matter is somewhat revenue impacting.

We use on our site to receive and send bitcoin. This has worked great for us with no issues; however this morning we noticed transactions we received have not been forwarded to our main wallet, thus not triggering the callback URL, thus causing customers to complain because they sent us payment - but we didn't show that we received the payment!

A few examples below:

If anyone can help with this, we'd gladly send some bitcoin your way for the...

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