In other words when I make another transaction but I only have the original backup when I restore the backup does it only show the amount from my original transaction or will it be updated to the latest transaction if I've made several transactions since my back up?

closed as unclear what you're asking by Nate Eldredge, Pieter Wuille, Murch Aug 27 '17 at 20:21

Please clarify your specific problem or add additional details to highlight exactly what you need. As it's currently written, it’s hard to tell exactly what you're asking. See the How to Ask page for help clarifying this question. If this question can be reworded to fit the rules in the help center, please edit the question.

  • It depends on the wallet software you are using, and also whether you are using an HD wallet or not. (E.g. is your backup a mnemonic phrase, or a file containing individual private keys?) Can you add these details to your question? – Nate Eldredge Aug 24 '17 at 5:49

You just need to backup your private key or your 12 words nothing else

The whole network keep a full backup of all your transactions

If your wallet make new bitcoin address for each transaction you need to keep a backup of your new private key as well

  • This answer applies to some wallet software, but certainly not everything. Please qualify what you're talking about. – Pieter Wuille Aug 25 '17 at 1:29
  • @PieterWuille No Pieter you are wrong it doesn't matter which wallet you are using you JUST need to take backup of your private key or 12 words and nothing else and when I say nothing else I really mean nothing else only private key is important and with private key you can recover your wallet and all your transactions – John Kotkin Aug 25 '17 at 6:03
  • If you have all private keys, you can recover everything. But not every wallet has just a single key or phrase that everything is derived from. Many older implementations generated new keys all the time, for example. Furthermore, your keys cannot recover unconfirmed transactions. – Pieter Wuille Aug 25 '17 at 6:40
  • @PieterWuille If your wallet is old you should stop using it immediately, normal wallets have basic features like 12 words or master private key and if your wallet doesn't follow BIPs it's not safe to use it, a normal wallet have master private key and all other private keys will be generated from the first private key – John Kotkin Aug 25 '17 at 7:17
  • bip-32 - github.com/bitcoin/bips/blob/master/bip-0032.mediawiki and bip-39 - github.com/bitcoin/bips/blob/master/bip-0039.mediawiki, if your wallet doesn't follow these you should stop using it – John Kotkin Aug 25 '17 at 7:25

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