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Title: Wallet.dat question; split from: Bitcoin-Qt / bitcoind version 0.8.6 released Post by: sickhouse on February 22, 2014, 10:28:54 AM I have a question regarding the wallet.dat;
I am planning on putting away 0.1 BTC for like 5 years or so, any chance I'll get fucked if I keep it on my computer instead of on the blockchain? I'd rather have it on an USB than on a server I must mail myself the codes so NSA can read them and connect them to me :) Title: Re: Wallet.dat question; split from: Bitcoin-Qt / bitcoind version 0.8.6 released Post by: grifferz on February 23, 2014, 01:41:27 AM Safe on your computer as long as your computer's storage doesn't die and your computer isn't hacked.
Given the current generation of bitcoin services appear to largely be developed by people who should not be trusted to launch a cat blog, I think it is reasonable to assume your own computer is safer, as long as you exercise a small amount of caution. Some wallets also allow encryption—just don't lose the password! Encrypt and keep multiple backups, including offsite, seems reasonable. Finally, if you don't intend to use the wallet for years and years then have you considered just printing out the secret key or having some other real physical representation of it? You just need the key to import it into a wallet when you need to spend it. Title: Re: Wallet.dat question; split from: Bitcoin-Qt / bitcoind version 0.8.6 released Post by: spin on February 23, 2014, 10:44:52 AM Armory + paper backup
Title: Re: Wallet.dat question; split from: Bitcoin-Qt / bitcoind version 0.8.6 released Post by: Sydboy on February 23, 2014, 03:52:13 PM I suggest saving the wallet to a few different media types. USB sticks are OK but they can get damaged very easily. Stick it on a DVD or whatever the kids are using these days.
If you have to put it online in a drop-box I would do as the other user suggested and encrypt the wallet with a third party tool, and of course set a password on the wallet, which also encrypts it to some degree. |