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sakira
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January 28, 2016, 07:19:56 AM |
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I use a lot wallet to avoid some problems. such as pending delivery too long or special wallet for some income.
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Kevin77
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Activity: 1652
Merit: 1057
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January 28, 2016, 08:53:10 AM
Last edit: January 28, 2016, 06:44:50 PM by Kevin77 |
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-snip-
If you are talking about software wallets it doesn't really matter. Once your PC is infected, it's infected....
Not only with software wallets but even electrum and other offline wallets have been easy to hack by hackers. Some people have lost access to their wallets as well which means that the coins are lying idle without any owner. When bank accounts can be hacked, bitcoin wallets are not that tough. |
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ricardobs
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January 28, 2016, 09:12:03 AM |
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Even by using many bitcoin wallets, a virus or PC crash can make anyone lose all their coins. I have only 2 wallets, blockchain and conibase and major transactions I make using coinbase as it doesn't charge any fee. If I start using multiple addresses, it would be so expensive to keep sending coins and receiving them. Also, many suggest offline wallets but they aren't useful at all as they keep crashing all the time. Example: Multibit.
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delliaerd
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January 28, 2016, 09:14:43 AM |
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I use a lot wallet to avoid some problems. such as pending delivery too long or special wallet for some income.
Yeah use more than one bitcoin wallet is solution from many kind wallet' s problem. A lot of people do that too, actually I want make more then one wallet to organize my payment. |
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a7mos
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January 28, 2016, 09:31:15 AM |
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I use a lot wallet to avoid some problems. such as pending delivery too long or special wallet for some income.
Yeah use more than one bitcoin wallet is solution from many kind wallet' s problem. A lot of people do that too, actually I want make more then one wallet to organize my payment. I do not get your point ! The pending time before getting the first confirmation is not related to the wallet you use, it depends on the transaction fees and how fast miners will find a new block |
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ranochigo
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January 28, 2016, 12:23:24 PM |
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More wallets is more secure. Just think about this!
How if you just save your Bitcoin in only 1 wallet, and then somebody steal it?
You will lose all of your Bitcoin in that wallet.
But if you keep your Bitcoin in 5 wallets that you shared equally
and if somebody steal it 1 of your wallet, you will just lose 25% of your Bitcoin.
Now imagine, if you save your Bitcoin in many wallets! If somebody steal it, you will just lose a little bit amount of it.
But of course, this thing has a weakness. Which is if you want to use all or 50% of it, you have to send it to 1 wallet first so that you can send just 1 transaction to the receiver wallet.
If you are talking about software wallets it doesn't really matter. Once your PC is infected, it's infected.... That is true. However, if you want to be extra safe, there is an issue with keeping all the coins in a single wallet software. That is having weak RNG or zero day exploit. Reviewing the source code is not what an average joe would do, let alone reviewing it thoroughly. By spreading it out over different wallets and/or computers, this risk can be reduced. |
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Amph
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Merit: 1069
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January 28, 2016, 12:40:24 PM |
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More wallets is more secure. Just think about this!
How if you just save your Bitcoin in only 1 wallet, and then somebody steal it?
You will lose all of your Bitcoin in that wallet.
But if you keep your Bitcoin in 5 wallets that you shared equally
and if somebody steal it 1 of your wallet, you will just lose 25% of your Bitcoin.
Now imagine, if you save your Bitcoin in many wallets! If somebody steal it, you will just lose a little bit amount of it.
But of course, this thing has a weakness. Which is if you want to use all or 50% of it, you have to send it to 1 wallet first so that you can send just 1 transaction to the receiver wallet.
If you are talking about software wallets it doesn't really matter. Once your PC is infected, it's infected.... it does matter, because if the hacker steal you 1 wallet, you know the pc is infected and you do a secure erase, your loss would be minimal, it depend on how many wallet you have split your coins instead if you want to spend your coin from a cold storage and you load 1 wallet with all the coins, you're pretty much screwed if that computer is infected |
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Herbert2020
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Activity: 1946
Merit: 1137
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January 28, 2016, 01:06:05 PM |
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I think it's because for safety. For me, i use so many bitcoin wallets because to seperate my main wallet with wallet for gambling. i mean, i have gambling habbit. so i need seperate wallet to limit it.
exactly. i have two wallets. one of them is my cold storage where i store all my bitcoins that i don't want to touch for a long time. so it stays cold  the other one is the hot wallet where i receive in and spend my bitcoins from whenever i need and i always keep the amount at a minimum necessary. |
Weak hands have been complaining about missing out ever since bitcoin was $1 and never buy the dip.
Whales are those who keep buying the dip.
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funkenstein
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Activity: 1066
Merit: 1050
Khazad ai-menu!
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January 28, 2016, 04:24:08 PM |
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A couple spending wallets, one on each box and on mobiles when necessary.
Another medium sized wallet for refreshing the spending wallets, kept in reasonable state of offline-ness.
Cold storages I don't touch more than annually.
That's about it.
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xdrpx
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January 28, 2016, 04:29:41 PM |
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There could be several reasons for using multiple Bitcoin wallets. I use Mycelium on my Android phone cause it offers the ability of restoring the wallet with a seed and since my phone is portable it's easier to have it on the phone to transact on the go, whereas I use Electrum on my desktop. I don't like the electrum wallet for android cause it seems a bit too bad on the UI experience.
Apart from this other reasons could be because people prefer storing their Bitcoins on different wallets, just like some people have multiple bank accounts in different banks.
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shiryu
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January 28, 2016, 04:51:55 PM |
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I'm only using two wallet, I have cold wallets, wallets for spending, why because i need to be safe.
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LuckyYOU
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January 28, 2016, 05:01:23 PM |
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Its for the security you need for bitcoin, many people get hacked.
If one wallet website get hacked, you have another wallet as an backup.
Don't store all your bitcoins on one wallet.
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funkenstein
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Activity: 1066
Merit: 1050
Khazad ai-menu!
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January 28, 2016, 05:24:44 PM |
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Its for the security you need for bitcoin, many people get hacked.
If one wallet website get hacked, you have another wallet as an backup.
Don't store all your bitcoins on one wallet.
lol you said "wallet website" |
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Next BillGates
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January 28, 2016, 05:28:06 PM |
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i don't know about others but i do use multiple wallets because of the features like manual transaction fees or userfriendly fecility. like if i am using mycelium wallet then i can't send miner fees manually but if i use blockchain wallet then i can do that
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Succubus
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January 28, 2016, 07:44:27 PM |
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Probably they thinking they will have many coins earned on exchanges, so better be prepared!
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quadriple7
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January 28, 2016, 07:59:46 PM |
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maybe they think that if they do that they will be able to used bitcoin way more anonymously, i actually dont know any other things why would they do that
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DrLove2048
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Activity: 84
Merit: 10
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January 29, 2016, 02:46:54 AM |
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I use multiple storage locations out of fear that if one of them ever were to be comprised (likely my own stupidity) i would only a fraction of my money
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kevin go
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January 29, 2016, 04:17:42 AM |
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maybe they think that if they do that they will be able to used bitcoin way more anonymously, i actually dont know any other things why would they do that
yeah dude agree..im sure they use many address for anonymously like for example to make everyone dont know him..or maybe if that one wallet got stolen the other still can work and not all money got stolen.. |
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blackmachinegun
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January 29, 2016, 04:26:00 AM |
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maybe they think that if they do that they will be able to used bitcoin way more anonymously, i actually dont know any other things why would they do that
actually only a few people who take many bitcoin wallets. what he did with many wallets? whereas in the one wallet course you can wear many addresses and it's very anonymous |
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equator
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Merit: 1002
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January 29, 2016, 04:44:10 AM |
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using many Bitcoin wallet is to protect their Bitcoins and the wallets getting hacked, i use around more than 20 address from different wallets, in the hardware wallet i keep all my savings of Bitcoins which i dont touch, other some wallet i use for gambling and sports betting for that i have to use different wallets as i dont want my wallets to get hacked as their are some sites who are scammers and that we wont be knowing it for that safety it is good to keep different wallet for different purpose.
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