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How is a Cold wallet offline Even existing ?


schibuja
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Hey guys and girls,

i just have a question for my Overall understanding.

i am going to create a paperwallet with rippex on a new offline Computer that Will Never go online.

so : Download Rippex on a Pretty Safe Computer >

safe on USB Stick >

plug USB Stick into new Computer that is offline >

create wallet and Write down Secret and Public key > 

go to the Other online Computer and buy xrp on Bitstamp with Euro>

send that xrp to my wallet that i created offline

SO HERE MY QUESTION, how is that cold wallet even noticed by ripple ? How is that wallet even created when it was all offline ? U Know what i mean ? 

Anyway thats my understanding question.

so than i want to hold xrp for a Long Time.

but when time comes and i want to sell them, i heard i can create offline Transaktion with that Rippex software on my offline Computer.

but again here : how my rippex Software Even knows that i have xrp ? It was allways offline. How can it create Transaction without knowing about any xrp that it should contain?

and my Last question :

with that offline transaction ( however it works ) can i send my xrp to , for Example Bitstamp ? And than sell it for Euro and than deposit to my Bank Account ?

because i think at exchanges you have to somehow Import your privat key, and i dont like this when it comes to a Point where your wallet is very valuable.

sorry for those noob questions, hope someone can help me out and get that fixed inside my Brain :D

Edited by schibuja
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Wallets aren't actually created.  All wallets already exist from the beginning - basically every possible address.  When you open a new wallet, what's happening is you randomly get assigned one of these addresses.  So the reason you can create a wallet offline is because randomly selecting an address doesn't require you to communicate this to Ripple; it's only when you transact w/ it.

Yes, technically you can get assigned the same wallet because no one is keeping track what's already used.  That's why I'm not a big fan of this concept, even if the odds are extremely low of there ever being two people assigned to the same wallet.

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On 13.1.2018 at 3:12 PM, pftq said:

Wallets aren't actually created.  All wallets already exist from the beginning - basically every possible address.  When you open a new wallet, what's happening is you randomly get assigned one of these addresses.  So the reason you can create a wallet offline is because randomly selecting an address doesn't require you to communicate this to Ripple; it's only when you transact w/ it.

Yes, technically you can get assigned the same wallet because no one is keeping track what's already used.  That's why I'm not a big fan of this concept, even if the odds are extremely low of there ever being two people assigned to the same wallet.

aaaaaah okay, thats very good to hear. now that brainlag is gone :D makes sense than when they all allready exist.

just one question left : how does it work when u want to sell all your xrp when time has come.
imagine u have like thousands of xrp and they are very valuable, all on your cold wallet.
how will u sell them ? all together in one big sale? or like many small amounts ? 
and will you do it all with offline transactions ? because otherwise u will have to import your secret key to the internet at some point.

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You can sell in one lot or many - up to you.
You should never send your secret key directly to anywhere online.  The wallet you use should be using your secret only on your computer to sign/create a transaction - then that transaction is submitted online, but it doesn't contain your secret key.

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