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1  Alternate cryptocurrencies / Altcoin Discussion / Re: Ripple Giveaway! on: July 04, 2013, 02:29:50 AM
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2  Other / Archival / Re: How to set up secure bitcoin savings account in 14 easy steps on: May 31, 2011, 12:40:16 PM
There are different solutions to this. One of the most simple would be to copy your addresses somewhere and check them on blockexplorer or another similar site to see what the balance is. That way you don't have to run the client and don't risk losing your coins.

Another solution would be to store your wallet on an usb drive (with or without truecrypt), and only access it from a livecd environment.

A third solution could be a combination of both: have two wallets, one with your savings, safely stored away and handled with great care, and another wallet with much less in it, that isn't that much of a risk to lose.

Great, thanks for the reply.  Between liveCD and the blockexplorer, I think I'm set.  Although liveCD (like bartPE, no?) is probably not 100% bulletproof either, but it adds a satisfactory level of obfuscation.

In what environment do I create the wallet?  Inside of liveCD?  Surely not in Windows, at least not a windows account that has or will ever see the interweb.  Can I run the bitcoin client and generate my savings wallet inside of liveCD?

Thanks.
3  Other / Archival / Re: How to set up secure bitcoin savings account in 14 easy steps on: May 31, 2011, 03:53:50 AM
I'm not sure I understand the solution here.  This might be a bit long, so maybe it should be moved to it's own thread, but it seems relevant.

Disclosure: I am Noob.  Please correct me with anything I misunderstand; I am NOT here to dictate my vision of reality.  The only thing keeping me from having bitcoins right now is wallet security.


I see two security issues:
1) Loss of wallet by catastrophe (machine failure, localized sinkhole, terrorist bombing of my house, etc)
Lets strike issue '1' off the list.  It seems clear to me that a secure, encrypted backup stored in a variety of places is an obvious solution to machine failure.

Which leaves us with:
2) Loss of wallet contents due to theft of private key (trojans, keyloggers, posting private key on the bathroom stall, etc...)

My understanding of TrueCrypt is that it simply but securely locks a volume.  Which is great for backups, but once the password is entered, and the user has access to the volume, doesn't the computer and any peeping-toms also have access to the volume?  Key question here; if not, then my points are moot, but if so, all it takes is a couple milliseconds on a dirty computer viewing your savings account for a patient 'trojan' (or whatever you smart hacker people use) to nab the key, no?  And to me, I assume all computers are dirty all the time, since you can never really know.

Is it just impossible to completely secure the wallet?  Is it just an accepted risk that checking your savings is a window of attack, and should be done rarely, only when necessary, and only from a virgin system?  Should I assume that I can only check my savings account after reinstalling a new system?  Would that even be enough to guarantee security?

Thanks,
Paranoid Believer
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