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Author Topic: Password on your bitcoin wallet?  (Read 3153 times)
TomM
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January 06, 2011, 01:06:47 PM
 #1

Hello people,

Is it possible to password-protect your bitcoin wallet? If not I'm a bit concerned that someone with access to my computer could steal my beloved bitcoins.

Congrats on an excellent and important project, BTW.
Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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caveden
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January 06, 2011, 01:33:01 PM
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The default client doesn't have this built-in but you may always use an encryption tool.

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January 06, 2011, 01:38:21 PM
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Ah, just remember that the software won't automatically know how to decrypt it. If you want to always keep the wallet.dat used by the client encrypted, you'll need some sort of script to decrypt it before launching the client.

The best approach to protect your bitcoins is to transfer the amount that you want to "keep safe" to a new wallet, encrypt and back up this wallet on off line medias and maybe on a remote server. And don't forget to back up your encryption keys too. Wink

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January 06, 2011, 01:42:01 PM
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Ok dandy,

Also if someone disappears and never returns to bitcoin, are their coins lost forever to the global bitcoin economy?
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January 06, 2011, 01:43:02 PM
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Yes.

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January 06, 2011, 04:28:41 PM
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Ok dandy,

Also if someone disappears and never returns to bitcoin, are their coins lost forever to the global bitcoin economy?
Yep, until someone by an incredible chance hit generates the very same address.

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