LiteCoinGuy (OP)
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In Satoshi I Trust
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January 02, 2016, 12:35:38 PM |
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A Basic Overview of Storage Practices (dont use a brain wallet)
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Amph
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January 02, 2016, 03:15:14 PM |
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i'm planning for the future, to build a dedicated mini server, probably with a itx board, in a small factor case like the antec 110, that run the client onl, no surfing and no downloading anything
it's the best solution, as you have your private bank account, that it is always ready to be used
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knightkon
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January 02, 2016, 03:56:10 PM |
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Desktop is the most secure method in my opinion. I have mine on a laptop that I can connect and disconnect from the internet when I need to. This way even through hacking, no one will have access to it unless they know when I will b online and for how long.
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helloeverybody
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★YoBit.Net★ 350+ Coins Exchange & Dice
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January 02, 2016, 04:27:15 PM |
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thats a nice poster that all new comers should see, Im sold on hardware wallets but untill i can bite the bullet and buy one i will be sticking to good old trusted papyrus.
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Hellacopter
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January 02, 2016, 04:53:04 PM |
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Good thread to know the differences between the Bitcoin's wallets types nowadays and then choose the best one. I think this can help the newbies with the Bitcoin's world a lot.
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vengeful
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if i can't save earth, i'll damn sure avenge it
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January 03, 2016, 03:44:10 AM |
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So if someone has an online wallet on site like blockchain, and even though it is secured with two factor authentication or similar features, it is still less secure than desktop wallet.
Even though it's a third party service, I don't think that block chain's gonna screw.
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subcypher
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January 03, 2016, 06:02:43 AM |
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thats a nice poster that all new comers should see, Im sold on hardware wallets but untill i can bite the bullet and buy one i will be sticking to good old trusted papyrus.
A Ledger HW.1 is $15 on Purse. They shipped mine for free and I paid with Bitcoin. How can you not bite? |
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tyz
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January 03, 2016, 11:27:15 AM |
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Wow, great overview! Thanks for sharing! I favour such graphical depictions over large texts.
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NorrisK
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January 03, 2016, 10:46:55 PM |
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Your saying not to use a brain wallet, what's wrong with them? As long as you don't generate the words yourself and have them randomly generated for you, they are just as safe as the other options.
Even most wallets provide you with a brain wallet type recovery seed.
Brain wallets are fine, as long as they are randomly generated.
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achow101
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Just writing some code
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January 03, 2016, 10:51:56 PM |
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Your saying not to use a brain wallet, what's wrong with them? As long as you don't generate the words yourself and have them randomly generated for you, they are just as safe as the other options.
That pretty much defeats the purpose of a brain wallet. Most people aren't going to use randomly generated words, and those who do probably aren't going to remember the randomly generated word very well. Even most wallets provide you with a brain wallet type recovery seed.
Not really. The recovery seed is the reverse of a brain wallet. It takes a randomly generated number (the master private key) and encodes that as words. Brain wallets take a word (which may or may not be randomly generated) and encode that as a number (private key). The difference is that it is easier to guess the words to a brainwallet than it is to guess the words to a recovery seed. |
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notlist3d
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January 04, 2016, 01:13:10 AM |
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thats a nice poster that all new comers should see, Im sold on hardware wallets but untill i can bite the bullet and buy one i will be sticking to good old trusted papyrus.
A Ledger HW.1 is $15 on Purse. They shipped mine for free and I paid with Bitcoin. How can you not bite? I suggest getting the starter kit aswell. The offline OS to start the wallet off right really is nice. Keeps your seed words safe by using it and writing in book. You will see me using it with my Ledger Nano hands on - https://bitcointalk.org/index.php?topic=1305888.0 |
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subcypher
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January 04, 2016, 01:38:40 AM |
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I agree with you there. I've been meaning to pick one up and review it myself. I just haven't done so yet so I didn't recommend it on my site. |
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subcypher
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January 04, 2016, 01:42:05 AM |
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Brain wallets are fine, as long as they are randomly generated.
That's not a brain wallet. Memorizing a randomly generated seed is different from choosing the words yourself. A brain wallet is choosing the words yourself. The problem is that, as humans, we're really crappy at choosing something unique. Most people pick song lyrics, movie lines, popular quotes and phrases. These are easily hacked. Randomly generated seeds are just that: random. |
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notlist3d
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January 04, 2016, 05:14:14 AM |
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I agree with you there. I've been meaning to pick one up and review it myself. I just haven't done so yet so I didn't recommend it on my site. Ive tried 3 so far. The Ledger Nano I still need to do the part about android usage as it is a nice feature. So I'm almost done with ones I have on finishing hand's on. Just will be sharing bits of info after using them more and more afterwards. But I really like hardware wallets after starting this project to do some hands on. The ability to spend and feel safe I really like. It's replaced my hot wallet personally at this point and I leave more then I ever would have with a hot wallet and sleep very well. And I'm not trying to take away from other wallets. I think paper wallets are very valid if done right. So I want to make it clear I'm not anti paper wallets or anything. I realize different wallets are good for different uses. |
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