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Author Topic: HOWTO: create a 100% secure wallet  (Read 275114 times)
DrGuns4Hands
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September 28, 2012, 04:23:10 AM
 #1001

I used keepass to generate my 100 character long random encryption key for my bitcoin wallet. to unlock my keepass I need a 20 character long passphrase specific to me with upper and lower case and numbers. I find this to be a pretty safe method. I also use keepass for other important things email, bank account etc. The amount of power to brute force it is yet to be created and I feel safe keeping it on my cell phone my PC and flash drive just in case.

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Monkey1
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September 28, 2012, 04:01:11 PM
 #1002

I use armory but I also have a long passphrase to unlock my wallet.  This is stored in password safe, which I use to manage all of my passwords.  Very useful.  You can also encrypt your wallet using truecrypt but if you are using it regularly you may want to prioritise easy of access over security.

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MildBill
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September 30, 2012, 04:10:34 PM
 #1003

Thanks for the info
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October 01, 2012, 02:05:55 AM
 #1004

i thank all for informations provide.
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October 01, 2012, 05:04:14 AM
 #1005

Thanks for this interesting writeup. The most salient point for me was the idea that my "wallet" could be stolen now, but it could be emptied years in the future when there is a trove of BTC in it... Eternal vigilance will pay!
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October 01, 2012, 08:00:12 AM
 #1006

Grate TUT!
I've been looking for something like this before but coulnd't find anything.
Thanks!
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October 01, 2012, 06:47:03 PM
 #1007

Great thread...Very helpful.  I'm using the BlockChain.Info wallet and so far, Im impressed with the features and ease of use.
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October 01, 2012, 10:22:20 PM
 #1008

I'm using blockchain here, but I'm thinking about moving my wallet offline with Armory.  Anyone here use Yubikey with blockchain?  I've often wondered how secure it is even with Yubikey.
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October 01, 2012, 11:51:46 PM
 #1009

There is another way in which you can get robbed.

Since any valid Bitcoin transaction must get in the public block chain. Your public keys must be in the block chain. And some body might use the block chain to calculate what is the balance of a 'big' and 'static' Bitcoin address and use a cryptographic attack that address to find out the corresponding private key. It might take months, but you are not moving those Bitcoins so the attacker can take the time. Once he has the private key he makes a transaction to one of is addresses.

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October 02, 2012, 03:46:50 AM
 #1010

Thanks for the helpful tips
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October 02, 2012, 05:25:00 AM
 #1011

Is totally secured even really possible?
BkkCoins
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October 02, 2012, 06:41:22 AM
 #1012

There is another way in which you can get robbed.

Since any valid Bitcoin transaction must get in the public block chain. Your public keys must be in the block chain. And some body might use the block chain to calculate what is the balance of a 'big' and 'static' Bitcoin address and use a cryptographic attack that address to find out the corresponding private key. It might take months, but you are not moving those Bitcoins so the attacker can take the time. Once he has the private key he makes a transaction to one of is addresses.
Try all the time of the universe, billions of billions of years, then maybe, just maybe you may have a better chance than one atom out of all the atoms on planet earth. I wasn't going to bother posting but that "It might take months" was just too juicy to pass up.

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October 02, 2012, 05:52:14 PM
 #1013

There is another way in which you can get robbed.

Since any valid Bitcoin transaction must get in the public block chain. Your public keys must be in the block chain. And some body might use the block chain to calculate what is the balance of a 'big' and 'static' Bitcoin address and use a cryptographic attack that address to find out the corresponding private key. It might take months, but you are not moving those Bitcoins so the attacker can take the time. Once he has the private key he makes a transaction to one of is addresses.
Try all the time of the universe, billions of billions of years, then maybe, just maybe you may have a better chance than one atom out of all the atoms on planet earth. I wasn't going to bother posting but that "It might take months" was just too juicy to pass up.


Good luck with your assumption that:
1. The discrete logarithm in the subgroup spanned by g (resp. G) is hard.
2. SHA-1 is a one-way hash function.
3. SHA-1 is a collision-resistant hash function.
4. The generator for k is unpredictable.
will hold for billions and billions of years for any given pair of keys.

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October 02, 2012, 06:48:57 PM
 #1014

Nice info-rant, you sound like me after a few beers :p
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October 02, 2012, 09:10:47 PM
 #1015

Define completely secured?  Is your wallet with paper money 'completely secured' downstairs while you sleep updatirs?  Is your cash in the bank 'completely secured', especially these past few years when banks are more likely to go under than give youyour cash. 

the point I am trying to make is that its all relative.  Its more secure than anything else around, but nothing is completely secure!

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October 03, 2012, 02:43:49 AM
 #1016

What happens if I have a wallet, receive a payment on the first address and send one, then someone sends me a payment to the first address? Is this payment compromised in any way?
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October 03, 2012, 02:59:40 PM
 #1017

I am curious that if someone else has your wallet.dat's copy too, can they bruteforce it and get all the cash?
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October 03, 2012, 07:28:13 PM
 #1018

If someone has your wallet.dat, they already have your private keys and have no need to bruteforce.  Look up public-key encryption if that doesn't make sense.

Buy vinyl decals with Bitcoin: http://www.azurerocket.com
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October 04, 2012, 11:18:11 AM
 #1019

What happens if I have a wallet, receive a payment on the first address and send one, then someone sends me a payment to the first address? Is this payment compromised in any way?
No, it is not compromised. It wouldn't be a very good system if it were.

If someone has your wallet.dat, they already have your private keys and have no need to bruteforce.  Look up public-key encryption if that doesn't make sense.
Not if the private keys are encrypted. In that case if a weak password was used someone could bruteforce it, sure.
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October 05, 2012, 06:24:02 PM
 #1020

Anyone using Yubikey to provide some feedback? mt.gox used to have one
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