If it does not allow you to send without fee, probably very high risk of losing the coins exists.
This worries me. Not because I think there is any chance of loosing coins but because you don't know that there is no chance of loosing coins. Spend transactions are either mined into a block or not. If they are not being mined you can just stop broadcasting that transaction and mining pools will eventually forget about it and you can send those coins with a fee. How exactly is there a risk of "loosing" coins, then? |
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All of this crap will only make it harder to a) make backups and b) restore from backups and c) recover backups should you ever forget your passwords. In the end you'll be dissuaded from making regular backups and you'll loose coins, so keep it simple. Use the built in encryption in bitcoin-qt and store your backups offline on removable media like USB drives. Sticking it online is asking for trouble.
Also remember to make new backups once every 100 transactions or you'll loose coins. Alternatively you could switch to electrum and only need to make one backup at the start.
Provided he uses a long password (20+) with numbers, different cases and symbols he should be fine with uploading it, as unless his pass is guessed or hit by a dictionary attack he should be fine with uploading it to an online storage site. Plus it means that if he has a fire or somehow loses all his USBs he can always download a copy of his wallet. Let's see to crack the wallet you need a copy of the encrypted wallet + the password 1. Offline backups mean to get the copy of the encrypted wallet you need to physically visit his residence/office and grab the backup disks. 2. Online backups mean you need to access his cloud account. You can take your sweet time doing this remotely. Phishing attacks would work in this scenario. So IMO 1. is much better. edit: To secure your wallet in your online storage you have to keep a strong password for you wallet file, your storage account *and* your email account because otherwise a thief could use the forgotten password link to get access to your storage account. To secure your offline backup you only need the password for your wallet file and the key to your safe deposit box/storage box whatever where you are keeping your backup media. |
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I'm trying to update my wallet on my laptop, my desktop currently is up to date.
Can i make my own bootstrap.dat file and xfer it over via usb key?
What does the boostrap.dat file do? It is a copy of the blockchain up to a certain point in time. You can download it off a torrent so that gives you another option to bootstrap your client. The client starts reading from the bootstrap file and verifying it as it goes along. Once it's done with the bootstrap it hits the bitcoin p2p network for the rest of the blockchain and carries on like any other client. https://bitcointalk.org/index.php?topic=145386.0 |
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Could someone clarify this for me: I've encrypted my wallet using BitcoinQT's built in feature. The password has ~150bits of entropy - can I safely store my encrypted wallet.dat in the cloud?
I would add a simple zip encryption too and call it pictures. Archive encryptions used to be exceptionally weak and vulnerable in the past and zip encryption was particularly weak IIRC. Did anything change in that regard? I personally use 7zip, which employs AES-256 encryption. It should be strong enough when the password is long, right? Not sure about other archive software though. Yep, good as extra precaution. Just as long as you remember your password  Maybe it's overkill and just creates an unneeded extra step on my part but I'm going to make an archive with 7zip and then use boxcyptor on top that. Also it's stored on my google drive which requires 2 factor authentication through my phone on top of that password. Also the file name is changed to something that won't stand out so even if someone did get access to all the different passwords and my phone they still might have a hard time ever knowing to grab that file. All of this crap will only make it harder to a) make backups and b) restore from backups and c) recover backups should you ever forget your password s. In the end you'll be dissuaded from making regular backups and you'll loose coins, so keep it simple. Use the built in encryption in bitcoin-qt and store your backups offline on removable media like USB drives. Sticking it online is asking for trouble. Also remember to make new backups once every 100 transactions or you'll loose coins. Alternatively you could switch to electrum and only need to make one backup at the start. |
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Yep here is new error:
Fatal error: Uncaught exception 'Exception' with message 'Incorrect response id (request id: 1, response id: )' in /home/content/61/11420661/html/massivetest/jsonRPCClient.php:144
Stack trace:
#0 /home/content/61/11420661/html/massivetest/index.php(6): jsonRPCClient->__call('getinfo', Array)
#1 /home/content/61/11420661/html/massivetest/index.php(6): jsonRPCClient->getinfo()
#2 {main}
thrown in /home/content/61/11420661/html/massivetest/jsonRPCClient.php on line 144
This error means that your username or password is incorrect. This is what you should do: - Edit bitcoin.conf on the server and change the username and password to something that contains only letters and numbers. No special characters or spaces. You can make it really long if you like. Perhaps use openssl rand -hex 32 to get a random password. - Try with the code below <?php require_once 'jsonRPCClient.php';
$btc_username = 'yourusername';
$btc_password = 'yourpassword';
$btc_ip = '66.227.203.224';
$btc_port = 41337;
$coinye = new jsonRPCClient( "http://$btc_username:$btc_password@$btc_ip:$btc_port/" ) ;
echo "<pre>\n";
print_r($coinye->getinfo());
echo "</pre>";
?> |
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So let's talk about mining specifics, shall we Nawazish? What do you do in summer when it is too hot to run a GPU at full blast and even if you could keep it cool how do you deal with voltage fluctuations? I think it would cost too much to get a UPS for all the mining rigs. Keep in mind that in Karachi at least we have hot weather 9 months of the year with about 3-4 of those being extremely hot. You must run the GPU during a lot of those 9 months if you want to ROI.
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There is another thing you should be aware of. They forward payments in batches not in real time. If you want to safely generate receiving addresses on a server you may want to look at using an Electrum master public key. That way you can generate all the addresses you need without risking your coins. You don't have to trust a third party either. Examples: Address generation: https://github.com/prusnak/addrgenShopping cart: http://wordpress.org/plugins/bitcoin-payments-for-woocommerce/ |
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However, on Electrum, there is no username/password or PublicAddress/PrivateKey combination. Simply a text with some dictionary words (not random alphanumeric) and that can lead you to any wallet randomly. You do not need to insist on cracking a specific wallet and spend time on a one single wallet.
Also, since you asked above about the seed as 12 words, well, I asked that question myself when I was new to Electrum. The 12 words have the same entropy as the hexadecimal representation of the seed i.e. 128 bits. You are just encoding the seed as a human friendly set of words as opposed to an ugly number. They are as random as the hexadecimal version. |
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There is a minimum amount above which it will forward coins. A few satoshis is not enough to cover the transaction fee even. Send more money!
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You may want to look at Trezor. Their code is all open source and I've been waiting for someone from China to get started on cranking out clones.
It's so nice to see you supporting the people in the bitcoin community. It's one thing to buy fakes sneakers from China. The guys building Trezor worked really hard on it. I'm glad you're so happy to benefit from their hard work, but unwilling to support them. Thanks. Glad you approve. The Trezor guys are so nice to willingly make their code open source. One should take every advantage of that. To not do so would be discourteous and they might be offended. PS: I don't wear sneakers whether genuine or fake. It is too hot here for that kind of footwear. But don't let that stop you from presuming you know anything about me. |
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0.0001 = default transaction fee = DTF
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I'll work on E61
You aren't allowed: Episode >60 approved transcribers (determined by FP score, listed in no particular order):
*KieranJones1
*MethodMan
*skyered
*xkeyscore89
*Abdussamad
*marcotheminer
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The numbers are too large so that even if you were to go through it randomly or even sequentially you won't find a wallet with coins in it. If you want an example see this: http://directory.io . That is a list of every bitcoin private key that can possibly exist ever. Try finding one with coins in it. PS: To the nit pickers, yes, bitcoin private keys are 256bits and electrum seeds are "only" 128 bits. The concept is the same though - too large a hay stack. |
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I wanted to ask how big/mainstream is bitcoin right now in pakistan?
It is ultra-niche. Barely anyone has heard about it. |
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Actually I am a newbie who know nothing about crypto currencies. Can you please tell what is GPU, Alt coins and other technical terms you have used? If it is hard to tell here than at least give a link that shall help me understand easily. Thanks in Advance
http://lmgtfy.com?q=GPU |
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Entered in mid december, mining with a 6950 and a 7950 and a gtx 650 for now. I am wanting to know which method works best for a btc to usd to finally your hands when it comes to Pakistan. Don't want to loose my hard earned crypto and fiat all together :$
You can sell your bitcoins to me Please see my site: https://bitcoinspakistan.com/sell-bitcoins/ . Also I've PMed you. |
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Thanks, I'm looking into using offline Electrum in an Ubuntu virtual machine hosted on ESXi 5.5. I've now got to think about how I back it up! Is saving the electrum seed for my cold storage wallet enough? Do I need to save the wallet files?
I consider myself an advanced PC user and using bitcoin in a relatively secure way is not straight forward!
The seed is enough as a backup. Backing up the wallet file presents additional advantages such as a backup of address labels. But, yeah, when push comes to shove the seed is all you really need. I am not sure what you mean by a virtual machine. Are you running electrum in a virtual machine that is on an online computer? That is not an offline electrum setup. Installing it in a virtual machine does not afford you any additional security. An offline setup is electrum installed on the bare metal OS on a computer that rarely goes online. Finally you can also install electrum on Windows. I wouldn't recommend it but it can be done if you don't like or are unfamiliar with Linux. |
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