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Synero AMP's and Wallets (Omniwallet Electrum etc..)
Most Omni Smart Property Crowdsales (Like Maidsafe/Synereo) will be distributing their token (MAIDS, AMP's) back to the address that originally sent/invested the BTC. With any Omni Protocol created property (Like Synereo/Maidsafe/Tether) the tokens are sent/controlled/held by the address/private key pair. A wallet is simply a collection of addresses/private keys which you, the user, control. Electrum is a wallet, Omniwallet is a wallet. Both are simply a collection of addresses and their private keys. (Addresses can be put in more than 1 wallet to make them accessible in multiple places)
The following is written in respect to the Synereo Crowdsale which is currently selling AMP tokens. Some of the information is also relevant to any Omni Protocol token like TetherUS, Maidsafecoins, etc..
I used the Electrum btc wallet on my pc to purchase my AMPS so this wallet naturally has the address I used for the purchase. Will the AMPS therefore go to my Electrum wallet? Or can AMPS only go to an Omniwallet?
- The AMP's will go to the Address from which you sent BTC to the Synereo crowdsale. AMP's are an Omni Protocol token. So while your Electrum wallet can hold/maintain the AMP's in order to view them/interact with them you will need to use an Omni protocol aware wallet. At this time that is Omniwallet.org or the Omniwallet Desktop wallet (An enhanced version of bitcoind that supports Omni Protocol).
Dor Konforty says I "need to send btc to my Omniwallet". Why would he say this? If the AMPS will automatically go to the Omniwallet, then why do I need to put my own btc into the Omniwallet? Do I need to send btc to my Omniwallet using the same send address that I used to purchase my AMPS?
- All Omni protocol transactions are specially crafted Bitcoin Transactions. This means that after you receive the AMP's if you want to send/move them your Omni enabled wallet will need to create what appears to be a special BTC transaction (On blockchain.info it looks something like this https://blockchain.info/tx/aba25288b6cdf8712edfeb823da1273e5c6692244b246559973cb13d135e631a) however this special transaction is actually what moves/spends the AMP's (You can see the enhanced transaction here http://omnichest.info/lookuptx.aspx?txid=aba25288b6cdf8712edfeb823da1273e5c6692244b246559973cb13d135e631a) . This is why Dor was saying you'd need BTC in your Omniwallet. In reality he should be saying you'd need BTC on the address your AMP's are on if you want to move them.
If I import my Electrum private key into the Omniwallet, will I then lose control of my private key? Will Omniwallet then hold the private key on their servers?
- Your private key is always your private key. You can import it into any wallet to give that wallet access/control to the respective address. Omniwallet takes a unique approach to this concept. We wanted to give our users the ability to create secure wallets they could use from anywhere without exposing their private key directly to us. So an Omniwallet does the following. When you create a new wallet on Omniwallet.org your computer creates a new wallet file locally on your machine and then encrypts your wallet with your password and sends us only the encrypted wallet file. We never have access to your unencrypted wallet and only store the encrypted file. So on our end if someone was to try and be malicious they would only see encrypted wallet files which only your password can decrypt. And since we don't store your password at all the security is entirely in your control.