Q. Can we create a #Bitcoin hardware wallet on Mobile?
A. Yes,it may not be as secure as usual hardware wallet, but will be much more secure than software wallets. Take a cheap mobile "A", set a strong pin, download Blue wallet and disconnect A from internet (flight mode). Contd.
Now create a new wallet using Blue wallet app. Backup seed words. Go back to the wallet, click on three dots above and click on "Show wallet XPUB", this will bring up a QR code. Leave it as is. Now install Blue wallet on your normal internet connected mobile "B". Contd...
Click to add new wallet. Rather than clicking on create this time, click on "Import wallet" then "Scan or import file". This will open your camera, point that to QR code on "A", and follow the instruction. This will create "watch only" wallet on your usual mobile "B". Contd...
Now "A" is like cold wallet, don't use it for any other purpose, always keep offline, ignore connection errors. B's @bluewalletio will show u receiving addresses, balance, but won't have pvt key to spend. Use "A" only to sign transactions. Test receive & send with tiny amounts.
Remember to write down seed words for backup from Blue wallet on A. Forget all wireless networks, remove SIM from Mobile A. Don’t ever connect A to network. For receiving, generate addresses using Mobile B watch only wallet. For sending, create transaction on B, and sign with A.
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Here are top frequently asked questions with simple to understand crisp answers. Some of these are not covered in usual Bitcoin articles. All the best in your learning journey. Feel free to use these text in your tweets or elsewhere. Its a beautiful journey, lets walk together.
Q. Whats unique to #Bitcoin ?
A. Many things, but most important is decentralization - no single institution/individual has control over network as well as core protocol and so monetary policy. This could happen because founder was intelligent enough to vanish one fine day.
Q. Why does #Bitcoin has limited support for smart contracts?
A. #Bitcoin is money and so contract validation has to be fast, efficient and predictable. Turing complete language can't guarantee it. Scoped Bitcoin script is good enough for all transaction related smart contracts.