Backup/restore question

[Andrew Vorobyov]

Sequence of actions:

1. I create new wallet
2. Put password
3. Do NOT create backup
4. Get 3 addresses through "receive bitcoins" button
5. Delete this wallet
6. Create new wallet
7. Put the SAME password
8. Get 3 addresses through "receive bitcoins" button

Questions:
1. Why 3 addresses that come from step #8 are different from #4
2. Can I get access to addresses from step #4 after I deleted wallet holding them, BUT know passphrase.

[picobit]

The addresses are different because you created two different wallets.  The wallet created in step 6 is not the same wallet as the one created in step 1!

Your password is far from enough to generate a unique wallet.  If everybody could recreate you wallet just from your password, then lost of people would be running password quessing software to find wallets and empty them.

Instead Armory generates a 256-bit number (that is a random number with approximately 70 digits!).  That number is the basis for your wallet.  The number is encrypted with your password.  So now the thief needs to first get hold of the file, and then guess the password.  And he only attacks one person at the time, instead of attacking all existing wallets.

So the procedure you should use is this:

1. I create new wallet
2. Put password
3. Do NOT create backup Print a paper backup (*)
4. Get 3 addresses through "receive bitcoins" button
5. Delete this wallet
6. Create new wallet  Restore the wallet from backup.
7. Put the SAME any password (the same is OK)
8. Get 3 addresses through "receive bitcoins" button

Now you will get the same addresses.

(*)  If you are worried that someone gets hold of your paper backup, create a 2-of-3 backup (or 3-of-5), store them in different places.

[Andrew Vorobyov]

Case closed. Thanks