You would be running 2 separate machines. One online and one offline.
Only your online computer needs the blockchain. All the offline computer does is generate the addresses and create a "Watching only" copy for your online computer. The offline computer won't even tell you your wallet balance. Because it never has and never will touch the internet (or the blockchain).

See the QSG link above. It explains the differences between the 2 in detail.

That's awesome and offers tons of flexibility. I can't wait to play around with this feature.


Exactly, the only thing you can do is preach about practice!  I didn't put any large amount in cold storage until I had reconstructed my wallet 3-4 times, I even did a fresh OS install and reconstructed again.

I came across the post below the other day.
The system requirements are not very demanding.

See the QSG HERE for requirements.

Don't forget about printer drivers if you plan to print a paper backup instead of writing it down.

Yeah, that reminds me of what I ended up going through trying to print a paper backup. Using the older OS (Ubuntu 10.04) without a network connection.
Ubuntu had some print drivers pre-installed, but not any drivers for newer printers (like the ones we have here at the office).
I was able to find printer drivers for Linux, but those drivers had dependencies, and those dependencies had dependencies, and those . . . .
I thought about getting an old ass printer off of Ebay for $30 and hope it had enough ink to print 2 pages.
But I got lucky when I found a printer at home that was old enough to get the job done. 

This is great news. I buy tons of stuff from Amazon. Congrats on the good review.

The process shouldn't be too bad. You just need the correct dependency's for Armory. There is an Armory package that includes these for a Ubuntu 10.04 install on the Armory site under "Get Armory"
This is what I used for my offline machine. Not a LiveCD system but it's Linux none the less.

Not sure if you'll need it, but I'm working on a Tutorial for my friends and family.
Note that most of them are not as computer literate as the rest of us, so don't be offended if it's spelled out too clearly for your taste.

This M-of-N system is a great feature and it will help many people, including myself sleep better at night. But . . . .
Since the subject of super paranoid people has already come up here, If I were that paranoid person, I would prefer a backup system like X+ M-of-N. Where X is the piece that is in my will.
I want to die before any of the pieces can be used. Is that something that could be possible with the current system that you're working on?

As I typed that out, I answered my own question. I think it is possible, if you split it into enough pieces and keep > 51% of the pieces required to recover your wallet for the will.

Example: Require 7-of-10 and put 4 pieces in your will.

Mining with GPU's is still profitable right now if you have already paid for them. So keep them running if you have.


If you haven't ordered yet, you'll get your ASIC when the network hash rate is higher than the people that ordered early. This reduces your profit potential.
(Note: Being "safe" has a huge disadvantage.)

Consider the average Joe that may not be as geeky as some of us (myself somewhat admittedly included). Joe works at CompanyXYZ where they pay him $25/hr. If Joe were to sit in front of his computer and learn about a bootable USB, PGP-verified, SomeOtherMumboJumbo that he does not know a thing about yet but he just wants to keep his Bitcoin safe, he could possibly take 2 hours to 20 hours to learn how to do it. Now if there was a ready made alternative that he could order for about an hours worth of his paycheck, why wouldn't he choose the alternative? Hardware wallets are being developed for some of these same people and same reasons. How much are those going to cost?

The future of Bitcoin will include many thousands of noobs, and they may not want to learn all of the techie stuff to keep their Bitcoin safe. Should they not have an easy alternative?
If the machine NEVER has an internet connection, is this a possible threat to said Bitcoin?

The point was to have a computer that is isolated from the internet "unplugging your Ethernet and/or disabling your WiFi" without having to use an additional computer.


This is good news, and saves a few steps. Thanks for the tutelage.

I was browsing the Wiki (https://en.bitcoin.it/wiki/Trade) on the various places where one can spend their Bitcoin and stumbled upon a bootable USB stick called Ninja Boot (www.ninjaboot.com). This $20 gadget comes pre-loaded to boot your computer into a TAILS OS and only use the Tor network. I'm thinking that this might work for an offline computer similar to a Live CD, provided that you don't give it access to the internet by unplugging your Ethernet and/or disabling your WiFi?

Obviously, one would need to install Armory each time, but if it could work, it may be an alternative for those that do not have the old laptop lying around or the $200-300 to get the offline computer required for cold storage.

I would guess this all hinges around weather or not the offline Armory bundle will install on this OS.

Thoughts?

Did I mention that it looks cool too?

Thanks Jim, this is exactly the kind of stuff that I am looking for.
I will download and play around with MultiBit tomorrow.

I'm new to Bitcoin and I'm trying to get started with the best possible habits. I've been reading up on all the noob stuff that I can find. I have compiled a list of some of the "best practices"
All of the threads that I have read about wallets say that you need to back them up on a regular basis. Some of them are also very specific about how to do this, but not how to recover.

I am having a lot of trouble locating simple instructions on how to restore a wallet from a backup (for noobs).
I know that each client/wallet will have it's own set of instructions, but I'm not deeply invested in any particular wallet yet.
I'm hoping that you, the Bitcoin community can reach out and help me locate the recovery instructions for restoring from any and all types of backups.

So I've spent a few bucks on some coins so that I can practice moving my coins and backing them up and restoring wallets from a backup.
Once I am comfortable that I can create a backup and actually restore it, I will then buy myself a larger amount of Bitcoins.

It would also be appreciated to hear about the wallet of your preference based on the above.

Please add me to the list. Thanks.
12ECuzRTBybDg57FCXMwMFG4a8GusYjr1y

I agree, Bitcoin is going to change the way people use their money. That's why I'm just getting into this as well. Kicking myself for not starting earlier but who isn't.
I was reading a few other threads about wallets and security, found the "Deterministic" wallet piqued my interest, and I'm on board with it now.
I too, feel that I (among other people) need the simplicity.
That all said, what am I missing? What are the drawbacks (other than losing the the original backup or getting the whole wallet hacked if I'm not careful)?

This is a great system for ranking users and moderators.
I hope to be big and rich enough someday to become a VIP.

This really helps, thank you

Call me whatever you like, but this is my third post, I'm getting closer. I even feel taller too.

I agree about not trusting anyone at the bank, but you shouldn't even trust your computer even if your have the "best" antispyware available.