|
Title: Cold Storage / Backup / Sweep Bitcoind Wallet Post by: jordan.dev on April 17, 2013, 04:35:28 AM I'm setting up a hosted wallet server backed by bitcoind, and I understand the concept of Wallet > Accounts > Addresses.
However, I've seen online a number of people talking about how they perform cold storage, offline storage, etc. of the majority of user's funds on a periodic basis. I'm curious if they are sweeping some portion of funds out of the accounts to a cold storage account that they are than taking offline, and than providing user's liquidity on demand from a pool of funds that is still online? If so, are there any recommendations of an algorithm for doing this that someone has implemented or discussed? Title: Re: Cold Storage / Backup / Sweep Bitcoind Wallet Post by: moni3z on April 17, 2013, 05:00:23 AM Generate addresses offline and preload database to hand them out.
Since bitcoin does mutlisig you could do something like this https://bitcointalk.org/index.php?topic=96391 Title: Re: Cold Storage / Backup / Sweep Bitcoind Wallet Post by: jordan.dev on April 17, 2013, 07:44:05 AM Generate addresses offline and preload database to hand them out. Since bitcoin does mutlisig you could do something like this https://bitcointalk.org/index.php?topic=96391 Wouldn't setting up a 'multisig' process limit the end-users ability to withdraw their own funds without a "teller" so to speak approving the withdraw of funds? I mean that gets around the issue of someone being able to withdraw funds without the approval of 3 parties in the transaction, but that doesn't stop someone whom gained access to the wallet server authenticating the transactions and their destination even with a forced 2/3 authorization. So in this method someone would have to manually approve transactions? :-\ Title: Re: Cold Storage / Backup / Sweep Bitcoind Wallet Post by: virtuexru on March 24, 2014, 10:06:15 PM Generate addresses offline and preload database to hand them out. Since bitcoin does mutlisig you could do something like this https://bitcointalk.org/index.php?topic=96391 Wouldn't setting up a 'multisig' process limit the end-users ability to withdraw their own funds without a "teller" so to speak approving the withdraw of funds? I mean that gets around the issue of someone being able to withdraw funds without the approval of 3 parties in the transaction, but that doesn't stop someone whom gained access to the wallet server authenticating the transactions and their destination even with a forced 2/3 authorization. So in this method someone would have to manually approve transactions? :-\ I know this topic is a little old but I found it via Google and would like to know if there has been any other similiar discussions/questions posed? |