Cold Wallet Setup
These instructions are intended for those that are installing the new Liberty Coin wallet on your personal Windows or Mac computer. The Cold wallet is where the MasterNode collateral will be locked. After the setup is complete, this wallet will be the one receiving the MasterNode rewards. This wallet will not have to run 24/7, once the setup is complete.
- Windows 7 or higher, Mac OS, or Linux
- Outgoing internet access to sync the blockchain and enable the MasterNode remotely
Install the Liberty Cold Wallet
Open the following URL in a web browser to download the appropriate wallet version for your system:
Do not install the new wallet on the computer that contains an existing Liberty wallet that is currently holding XLIB coins. You will need to either install the new wallet on a different computer or move your coins to a different computers' wallet, prior to installing the new wallet. This is to prevent any chance that the new wallet will overwrite your current wallet and cause you to lose your coins.
- Be sure that your existing wallet.dat and private keys are backed up from the old wallet. We strongly recommend backing up your wallet.dat and private keys prior to starting this process.
Rename the old Liberty directory to something like Liberty4. This will prevent the new wallet install from conflicting with any of the existing data. This is only required if the computer contains the old Liberty wallet:
- Mac: ~/Library/Application Support/Libertycore
- Windows: ~/AppData/Roaming/Libertycore
- NOTE: If you are confident that you no longer need this old data then you can just delete the old Liberty directory instead of renaming it.
Do not delete the current wallet directory if the existing wallet still has coins in it. You should be doing this install on a computer that does not currently have a Liberty wallet that contains coins.
Unzip the wallet files and move the Liberty-cli and Liberty-qt files onto the Desktop or Application folder.
- If prompted, confirm that you want to replace the existing file(s).
5.Double click the Liberty-qt file to open and install the new wallet.
- If you are prompted to use a data directory then select the radio button next to Use the default data directory and click OK
- Accept any pop ups asking to confirm if you want to continue with the installation
- When prompted, select Use the default data directory and click OK
- If prompted by security or antivirus software, click Allow Always
- The new wallet should now open and begin to synchronize with the network
Create a MN1 Wallet Address and Send it the 50000 Collateral Coins
Create a receiving address named MN1. This wallet address will be used for the MasterNode collateral funds.
- Go to File -> Receiving addresses
- Click New, type in a label and press Ok.
- Select the row of the newly added address and click Copy to store the destination address in the clipboard.
- You can name the wallet with a description such as "MN1" by right clicking it and selecting "Edit".
Send EXACTLY 50000 XLIB coins to the MN1 address. Double check you've got the correct address before transferring the funds.
- After sending, you can verify the balance in the Transactions tab. This can take a few minutes to be confirmed by the network. Go get a glass of water. No alcoholic beverages please, we are not out of the woods yet.
If you are sending from an exchange, make sure you account for the withdrawal fee so that you get EXACTLY EXACTLY EXACTLY 50000 XLIB in the new wallet address. This is a common error that will cause the next step to not give you the transaction id that is needed.
Output your MN TXhash and Outputidx and update the MasterNode configuration file
Open the Debug console.
Go to Tools -> Debug console
Run the getmasternodeoutputs command to retrieve the transaction ID of the new MN1 wallet that contains the 50000 XLIB collateral:
You should see an output that looks like this in the Debug console:
'"txhash" : "c19972e47d2a77d3ff23c2dbd8b2b204f9a64a46fed0608ce57cf76ba9216487",' '"outputidx" : 1'
NOTE: If you do not get output resembling the above example then you likely do not have EXACTLY 50000 XLIB in the MN1 wallet address. You will need to resolve this issue and ensure that ONLY and EXACTLY 50000 XLIB is in the MN1 address and that it is in a single input.
Copy and save the txhash and outputidx.
- Both the txhash and outputidx will be used in the next step.
- The outputidx will be either a 0 or 1, both are valid values.
Go to Tools -> Open Masternode Configuration File to open the masternode.conf file.
If you get prompted to choose a program, select a text editor like Notepad/TextEdit to open it.
These are the default directories for the Liberty data directory where this file is stored:
- Mac: ~/Library/Application Support/Liberty
- Windows: ~/AppData/Roaming/Liberty
Copy the following template and paste it into the masternode.conf file, on a new line:
MN1 <public_mn_ip_address_here>:10417 <your_masternode_genkey_output> <collateral_output_txid> <collateral_output_index>
Update the masternode.conf file variables as instructed below.
Leave MN1 as is. This is the node's alias and will be used in the Cold wallet Debug Console to enable the MasterNode.
Replace the variable <public_mn_ip_address_here> with your Linux VPS IP address.
Leave :10417 as is and ensure that there are no spaces between the IP address and the port. This is the TCP port that the Liberty wallet uses.
Replace the variable <your_masternode_genkey_output> with your masternode private key (aka GenKey) that you received as output from the liberty-cli createmasternodekey command on the Linux VPS.
Replace the variable <collateral_output_txid> with the txhash that you received as output from the getmasternodeoutputs command in the Cold wallet Debug Console.
Replace the variable <collateral_output_index> with the outputidx that you received as output from the getmasternodeoutputs command in the Cold wallet Debug Console.
NOTE: Below is an example of what the newly added line will look like once you have updated it will all of the required information. All of the information should be contained in a single line with no carriage returns:
MN1 18.104.22.168:10417 87LBTcfgkepEddWNFrJcut76rFp9wQG6rgbqPhqHWGvy13A9hJK c19972e47d2a77d3ff23c2dbd8b2b204f9a64a46fed0608ce57cf76ba9216487 1
- Restart the Cold wallet to pick up the changes to the masternode.conf file.
Verify the Masternode.conf File is Configure Correctly
Open the Debug console and run the command listmasternodeconf:
- Verify that the output matches what you entered in the masternode.conf file.
Go to the Masternodes tab and verify that the newly added MasterNode is listed.
- You should now see the newly added MasterNode with a status of MISSING.
- NOTE: If you want to control multiple MasterNode Hot wallets from this Cold wallet, you will need to repeat the previous steps to create a new MN wallet address, send it the 50000 collateral coins, and update the masternode.conf file. The masternode.conf file requires an entry for each MasterNode that you will be managing with this Cold wallet.
Start the MasterNode from the Cold Wallet
It is very important that you let the MasterNode Hot wallet synchronize for a couple of hours prior to starting it from the Cold wallet. If you attempt to start it before it is fully synchronized then it will fail.
Run the startmasternode alias false MN1 command, in the Cold wallet Debug console, in order to enable the MasterNode:
startmasternode alias false MN1
- In the example above, the alias of the MasterNode is MN1. In your case, it might be different and is based on what you entered as the first word in the masternode.conf file.
- You should get multiple lines of output. If one of the lines of output says "result" : successful" then you can proceed to the next step to verify the MasterNode started correctly on the VPS Hot wallet.
- If you did not get the successful output then there is likely an issue with the masternode.conf file that needs to be resolved first.
If you received the output that shows the MasterNode started successfully then you can proceed to the next step to verify that your MasterNode started correctly from the VPS Hot wallet.