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Author Topic: HOWTO: create a 100% secure wallet  (Read 274046 times)
Monkey1
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November 02, 2012, 08:24:35 PM
 #1081

Ive said it several times but the most secure solution is Armory!  Goole it, download it, make an offline wallet and off you go.

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TraderJoe42
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November 04, 2012, 06:46:58 PM
 #1082

How paranoid is all of this?  or in other words, would it be reasonably safe to just use the bitcoin.org wallet on a PC if you aren't storing a small fortune in bitcoins?
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November 04, 2012, 06:56:34 PM
 #1083

How paranoid is all of this?  or in other words, would it be reasonably safe to just use the bitcoin.org wallet on a PC if you aren't storing a small fortune in bitcoins?

This, if you're reasonably confident you're not already infected with malware. The theft cases I've read on here have involved unencrypted wallets left floating around, but even so, you can't be too careful, and storing large quantities of BTC (certainly 1000s, even 100s if not for immediate use) in "cold wallets" offline is strongly advisable per the information provided in this thread.

I think the pertinent point is that users understand the endemic risk, not that they're bound to get robbed if they have BTC100+ on their live computer!

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November 04, 2012, 08:19:23 PM
 #1084

Everyone has an old computer somewhere. Just reinstall that one cleanly, install AV software on it and only use it for bitcoins. If you do not use that computer for surfing or other things, it is perfectly secure for storing your wallet. Have bitcoin-qt on there and - if you have a lot of bitcoins - store them in Armory on that PC. Use that for your savings.

You can have a bitcoin-qt on your everyday-use computer for your pettycash. If you are a miner, let the pool send the credits to your pettycash account. When there is some value in there, send it over to you dedicated savings BTCPC.

If you need some bitcoins for spending, just send it from your savingsBTCPC to your everydayPC's pettycash wallet and do your payments with that one.

With Armory, you can even PRINT ON PAPER your private keys. No more backups, you have your private key printed out! (or save it on a dedicated USB stick you do not use for other things).

What if all your systems die on you? Get a new computer, install bitcoin-qt. Let it update the bitcoinchain (yes, wait a couple of days, unfortunally). Install Armory and fill in your private keys from the printed paper. Your back in business.

If you make sure your bitcoin-qt wallet on the savingsBTCPC is empty (ie, all is in the Armory) and you have little or none BTC in your pettycash PC (or have a backup of the wallet.dat), you do not lose a dime.

Onlinewallets, suite yourself. I do not want to be depending on third parties security settings. I want to have it in my own control. Ok, I have some BTC and Euro's at MTGOX. I know.... but that's just my pettycash.


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November 05, 2012, 08:10:28 AM
 #1085

Having lost a few bitcoins when I rebuilt my laptop without saving off the dat file -  Huh D'oh! I have taken these precautions this time thanks for the simple instructions and guide Smiley
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November 05, 2012, 02:45:42 PM
 #1086

Great Info...

However, as I am not a wealthy man in bitcoins, I still use blockchain.info 's wallet, as it appears to be pretty secure to me.

If I however be wealthy in btc's, I will surely add more protection to my money.

Thanks.

blockchain.info works for me too Smiley .. nice and simple I find. What you can also do is make a private key for an address that you only keep locally safe (written on paper in safe deposit box even). The corresponding address can be added as a 'view only' address in blockchain.info. You can then send coins TO that address, but cannot be sent FROM that address without the super-secure private key. So periodically you can secure a number of coins.

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November 06, 2012, 08:01:07 AM
 #1087

Great guide, I really needed some guidance on this issue.
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November 06, 2012, 11:56:34 AM
 #1088

At the very least, I've avoided using online wallet services after reading about btc thefts.  So the argument about keeping those savings accounts on physical media and physically locked in a safe is not a bad one to make.
Maybe it would be smart to have a locked safe, but nothing in there. When the thief comes they steal your whole safe and take it with them only to find it is empty once he/she cracks it open at home.
Then you as a smart person has a usb stick somewhere that nobody else would even dream of where it could be.

I don't say you should use this technique, because if everybody used it then the thief would not look for the safe, but though again you could be fooling around and then have it in the safe, making the thief look stupid(while he/she avoids searching the safe).

What about that combined key thing, where for example your key from your cell phone gets combined with the key from your computer bitcoin client key into one whole that signs important transactions?
I think it has been implemented in bitcoind, but how to use it in an easy to understand way? I don't know. Isn't that called "Multisignature transactions"

There may still be hope for the 1st decentralized cryptocurrency which is Bitcoin. How to approach different subjects is key to progress.
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November 06, 2012, 06:38:31 PM
 #1089

Very usefull information. Thank You

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JoeBlack123
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November 07, 2012, 01:08:29 AM
 #1090

Will give it a try. Thank you.
Annie1989
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November 07, 2012, 05:04:26 AM
 #1091

Thanks for this, with all this confusing stuff it makes me feel safer knowing i am doing things right.
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November 07, 2012, 02:44:47 PM
 #1092

If you're on a Mac and not a software engineer, forget about creating a bootable USB drive using Ubuntu.

Apparently, the concensus and my personal experience is, it doesn't work.

How about someone update this tutorial to save more newbies from spending hours and hours pointlessly trying to create a bootable Ubuntu USB drive on OS X?  Beuller... Beuller...

"The future isn't what it used to be." - Yogi Berra
BTCHybrid
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November 07, 2012, 03:57:16 PM
 #1093

Thank you ! This helped al ot  Grin
WH401
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November 07, 2012, 10:07:35 PM
 #1094

Thanks for the information  Smiley
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November 08, 2012, 09:32:45 AM
 #1095

Warning: many laser printers save printouts in digital form to an internal hard disk.

You might want to consider this when printing a paper wallet.

1FPwsMACGqCFtAxpMVHznHe7TkrHMRxB6M GPG key (http://pastebin.com/FfWc2K5h).  Only civil and rational replies accepted.  If you can't follow this flowchart (http://i.imgur.com/DEhIC.jpg) or engage in verbal abuse, I'll point it out and add you to my ignore list.
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November 08, 2012, 05:10:59 PM
 #1096

These types of newbie guides are just what the doctor ordered.  Thanks for making it interesting/fun as well Smiley
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November 09, 2012, 09:03:25 PM
 #1097

+1
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November 09, 2012, 11:27:29 PM
 #1098

really good guide, i think i will revert to this sometimes
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November 10, 2012, 04:11:36 AM
 #1099

Warning: many laser printers save printouts in digital form to an internal hard disk.

You might want to consider this when printing a paper wallet.
Paper and pencil to create a transitional wallet and then copy to something more permanent later on? I think it'd be cool to etch your private key into multiple objects, store them in different secure locations, and keep the last object(the one that holds the last piece of the key) close to you at all times. Just don't forget where you stored the different pieces of the key.
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November 10, 2012, 04:38:23 AM
 #1100

If you're on a Mac and not a software engineer, forget about creating a bootable USB drive using Ubuntu.

Apparently, the concensus and my personal experience is, it doesn't work.

How about someone update this tutorial to save more newbies from spending hours and hours pointlessly trying to create a bootable Ubuntu USB drive on OS X?  Beuller... Beuller...
http://www.ubuntu.com/download/help/create-a-usb-stick-on-mac-osx

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