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Title: Splitting bitcoin into multiple addresses just in case one gets hacked? Post by: BitBitBet on February 13, 2019, 11:47:28 AM Is it better to split your btc into multiple addresses in the rare case one gets hacked?
Also, if one of your addresses did get hacked and all your other addresses were associated by having been generated from same seed, are your other addresses at risk (assumming they did not figure our your seed of course). Do you feel it is foolish to keep too much btc in any one address? Thanks. Title: Re: Splitting bitcoin into multiple addresses just in case one gets hacked? Post by: Artemis3 on February 13, 2019, 11:55:05 AM Is it better to split your btc into multiple addresses in the rare case one gets hacked? Also, if one of your addresses did get hacked and all your other addresses were associated by having been generated from same seed, are your other addresses at risk (assumming they did not figure our your seed of course). Do you feel it is foolish to keep too much btc in any one address? Thanks. If the addresses belong to different wallets, maybe. Best protection is cold wallets, no computer no hacking. The private key (seed words) is what you need to protect the most. You can put that in a paper written by hand, and another copy of that paper written by hand store them in two separate secure physical places. If you want to do it with more than one wallet that is ok, but it doesn't improve security much unless those wallets are stored in different places, but then you'll have the overhead of protecting so many places... Title: Re: Splitting bitcoin into multiple addresses just in case one gets hacked? Post by: bob123 on February 13, 2019, 12:57:15 PM Is it better to split your btc into multiple addresses in the rare case one gets hacked? Also, if one of your addresses did get hacked and all your other addresses were associated by having been generated from same seed, are your other addresses at risk (assumming they did not figure our your seed of course). First, addresses don't get really 'hacked'. In order to spend the funds lying 'on an address', the attacker needs to get access to the corresponding private key. Now the question is, how does the attacker gain access to the private key ? If you have your funds stored on a desktop wallet and the attacker gets access to your computer (e.g. via malware), he will have access to your seed (which will lead to all private keys being known to him). If somehow the attacker does get access to only one private key (which will only happen in very rare cases where you store the private key seperately somewhere or accidentally give it to someone), only the funds associated with this one address will be at risk (i.e. stolen). Just to make my statement correct: If you are using unhardened paths (which is not the case in most wallets), 1 private key AND the public master key is enough to calculate all other private keys of the same derivation path. This mostly won't affect you, but it is worth to be noted. Do you feel it is foolish to keep too much btc in any one address? No, definitely not. Feel free to store as much as you want on a single address. 3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r (https://live.blockcypher.com/btc/address/3D2oetdNuZUqQHPJmcMDDHYoqkyNVsFk9r/) for example, is the address of the Bitfinex cold wallet and is holding roughly 138k BTC at the moment. |