Will other CryptoCurrencies see the 10,000x gain like Bitcoin?
I'm not sure if there is a software wallet to do this, but if you want it for cold storage, you can definitely create addresses for almost all the cryptocurrencies from a raw 256 bit private key.
This allows you to just securely store the 256 bit key rather than the individual wallet files for multiple cryptocoins.
You can do this by:
- Creating a 256 private key of 64 hex (0-9,A-F) digits
- Open brainwallet.org and go to the "Generator" tab and select "secret exponent"
- Paste your 64 hex digits into the "Secret Exponent" text box.
- Select the coin type in the top right corner and the coins private key and address will be shown in the "Private Key" and "Address" areas.
As an example, the 256 bit private key A5F308EB5553464AD377C68D16CDB85F3C8D63CABAC8017BE6D9D9A43F7F0CDF is the following addresses:
- BTC (Private): 5K5NXzAa7PE5irZFc9Va6eAN4zPfd2E9MBcrt1ea8j225ix6wpC
- BTC (Address): 18S5Czkk3pp8vSwVsS8fD28HLxea6JcVc
- LTC (Private): 6vP717i71ogxCET77yHXt2wY2Tx8ppgB7s22bCfbrBLdmZvbD5f
- LTC (Address): LKMPLRJapi4sPj96g1RRwE5tVZKviuvMxS
- NMC (Private): 74A5i3WERWPrjWmvkHmXhKLdgvR1Re3gGRJTZoRBpoNBk1JL8RM
- NMC (Address): MvhoGrVjfRvNfThSmgkhsjB31aMhYnd5qs
Note that this is somewhat insecure as if someone knows the coin private key for one of the addresses, they can directly convert the coin private key back to the raw private key.
Also if you import a private key into a wallet program (eg: bitcoind), be aware that they may send change to new addresses.
answered Dec 11 '13 at 19:46
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