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wallet backup frequency
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Topic: wallet backup frequency (Read 1525 times)
rmines
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wallet backup frequency
February 08, 2014, 03:50:06 PM
#1
I'd like to verify the following assumption is correct:
Lets say today I have 10 addresses in my wallet, each holding 0.1
BTC
and I backup wallet.dat to a safe location.
Tomorrow I'll add another address that holds 5
BTC
, but I don't make a new backup. A few hours later, my hard drive crashes and I need to restore the backup of the older wallet.
I will have lost the amount of
BTC
from the address that has not been backuped, 5BTC but I will be able to recover the 1
BTC
from the other 10 addresses?
In other words, you will only need to make a new backup in case a new address has been assigned that has funds on them?
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Rannasha
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Re: wallet backup frequency
February 08, 2014, 05:06:08 PM
#2
It depends on the wallet-software.
Bitcoin-qt generates addresses in batches of 100. It will use an address from the pool every time you request a new receiving-address and every time you send coins (for the change-address). So you should backup your wallet-file every 100 (receiving-addresses requested + transactions sent).
Other wallets can have different methods to generate address. For example, Electrum generates addresses deterministically using the initial passphrase. No backups beyond the first are needed here.
rmines
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Re: wallet backup frequency
February 08, 2014, 05:22:17 PM
#3
I'm using Bitcoin-qt (v0.8.6-beta).
There are 12 receive addresses in this wallet, and 4 sent transactions.
So I should be good for another 84 combined (receive addresses+ sent transactions) before making a new backup?
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Rannasha
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Re: wallet backup frequency
February 08, 2014, 05:35:07 PM
#4
Quote from: rmines on February 08, 2014, 05:22:17 PM
I'm using Bitcoin-qt (v0.8.6-beta).
There are 12 receive addresses in this wallet, and 4 sent transactions.
So I should be good for another 84 combined (receive addresses+ sent transactions) before making a new backup?
Correct.
Of course it never hurts to back up more frequently.
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