Aaaaah...Understood.   |
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Thanks for the replies. So it can be a second hand laptop?? I was under the impression that it must have never been online. Regarding the OS I will probably stick with windows then as i am by no means an uber nerd and would have no idea what a backdoor would even look like.  |
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Also, any specs needed for said laptop. Given that i would like to keep it as cheap as possible if it will have no other uses.
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Hi I am planning on getting a laptop to use offline for added security for my coins. People talk a lot about Linux and Ubuntu but I dont really understand them or their benefits. Is it worth using one or both of them? Are they easy to get to grips with? Thanks in advance  |
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Reeeeewind  |
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This may have a really simple answer but why if the first 8 characters of the btc address are all unique do they need the other ones.  |
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Thanks for all the help guys. I will be looking into the Armory today. I have 2 more questions if you dont mind.
1. As i have a mac is it worth buying a cheap laptop to keep offline to run the armory/bitcoinaddress from.
2. How does the blockchain keep up with the transactions if they are done offline. (I dont quite get this)
Thanks
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You have to start by deciding how much risk you are willing to accept and how much convenience you need. Paper wallets are great (and extremely secure if done properly) for long term storage, but they are very inconvenient. Online wallets such as InstaWallet are extremely convenient for momentary use, and frequent transactions, but are not very secure. The wallets I'm familiar with listed in order of security (highest to lowest) are: Paper Wallet Armory Bitcoin-Qt Electrum & MultiBit https://blockchain.info/walletMost other online wallets (MtGox, CoinBase, Bitfloor, InstaWallet, etc.) There is very little difference in security between Electrum, MultiBit, and Blockchain.info. However, in my opinion, there is a slightly increased chance that a person using blockchain could fall victim to a phishing attempt (or other social engineering). Nice one, that's pretty much what I've worked out now too. So is a casascius coin a kind of paper wallet? |
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In a couple of the other forums I have noticed people talking about walls in the sense that there are large but/sell orders at a certain price that will take a large quantity or orders to break through.
Where is this info coming from? When I check mtgox I just get the price charts.
Thanks
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Nice one. I will be looking into it ASAP. |
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There was a lot of information in the links I sent, but that is only because there are many different strategies you can use for securing your funds. The solution I suggested is very simple, yet reasonably secure. 1) generate and print a paper wallet by using the bitaddress.org web page (preferably on an offline computer). 2) Import the public key into your blockchain.info wallet to be able to monitor the address 3) When you need to withdraw funds, use blockchain.info to make the transfer, for which you will need the private key.
Try this with small sums first, until you feel confident enough to use it with larger amounts.
I looked at the bit address.org and there are a number of articles from worried people regarding the fact the key is generated by them and not yourself. Any thoughts on that? Also, how do you use the website and services offline? |
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Thanks for the replies, heres what i came away with. Online wallets might no be the best idea. Blockchain.info (MyWallet) is a form of online wallet though. (I was actually looking at this but if it's online i might use it for a more day to day wallet instead of the current service i am using). Does it have a facility for password protection as well? Paper wallets (is that the same as cold storage then?) seem like the way to go. I looked at Cobra-Kai's suggestion and although the instruction steps looked complicated they didn't look unfathomable. The main issue i had with them was they seemed more geared at Linux, Ubuntu users and didnt seem suitable for Mac. (If i'm wrong please let me know) Anymore help or ideas would be great |
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Hi I am assuming that this has probably been answered many times over in various threads but after looking have not found exactly what i am looking for and am hoping to get a few answers to my specific questions. (This is the Newbie section after all) I have a few bitcoins that at present are kept in online wallets. After reading a little more recently i have found that these arent as secure as i previously thought. Can anyone recommend a more secure alternative. I have a Mac and am running OSX. I don't mind some tech difficulty but I am by no means an expert. Ideally, I would want it to be something easy like an online wallet but then encrypted with a very long password. Thanks in advance for the advise. SB |
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Hi I am steelboy, looks like a fun community. |
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