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Author Topic: HOWTO: create a 100% secure wallet  (Read 274046 times)
kaboom
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August 31, 2012, 06:04:18 AM
 #941

Very useful, thank you  Smiley
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August 31, 2012, 07:53:58 PM
 #942

Interesting post... some good ideas I must compile and come up with my own strategy... :-D
robotmonkey
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September 02, 2012, 08:22:27 AM
 #943

I feel like this is obvious, but I can not send coin to the address on the hard disk when it is not running on the computer right? whenever you wanna make a deposit, you load up the disk, re install btc client again, deposit your coins from one wallet to the savings wallet, and then copy it back on the disk?


You can send the coins to an offline wallet because the coins aren't really stored on the computer but in the blockchain.
Michiel
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September 02, 2012, 11:11:24 AM
 #944

Thanks for the advise.
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September 04, 2012, 07:19:27 PM
 #945

Thank you!
oldschool
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September 05, 2012, 02:12:20 AM
 #946

Just curious, what are peoples opinions on the security of online wallets like blockchain.info and some of the others?

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Endgame
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September 05, 2012, 10:45:59 AM
 #947

blockchain.info has good security and a good record for an online wallet. But I still wouldn't trust them to store anything significant. As the old saying goes, if you want something done right - do it yourself.
Monkey1
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September 05, 2012, 07:38:06 PM
 #948

I have a couple of coins in my mobile wallet, more in my PC online wallet and the majority in my offline wallet accessed via armory.  This is a brilliant wallet that allows paper back ups and true offline operation, without risking anything in that wallet (and no, I have no affiliation with Armory- I just like the app).

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September 06, 2012, 04:13:19 AM
 #949

This is a great Howto, but I thought people might be interested in a sort of middle-path:

1. Install Linux inside a virtual machine, secure it, and lock it down using IPTables. Install bitcoin and create your 'íntermediate' wallet here. Use it for storing moderate amounts of bitcoins (more than hundreds of dollars worth say) that will involve frequent transactions. If you set things up well it will be more secure than running from inside your native OS for example.

2. Have a LiveCD image of TAILS (an anonynimity/security focused LiveCD distribution) available inside the virtual machine. Install a virtual machine within the virtual machine and use it to boot the TAILS liveCD. Apply the technique described in the OP using this tails distro. This wallet should end up being not only super secure, but relatively anonymous. For even more anonymity, configure the first linux VM (host for Tails) to use a VPN, with IPTables filtering all on-vpn traffic. Purchase the VPN using Bitcoin. This is the ultimate paranoia solution for both anonymity and security.

Unlevereged financial instruments acting as a store of value that fluctuate 50% within 10 minutes is perfectly acceptable. I think it should be offered in IRA form to soon to be retirees.
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September 06, 2012, 07:28:03 PM
 #950

This all sounds so complicated, especially running a different OS if you are on windows.  Why not just use Armory?  I am not trying to sell it, I just want someone to tell me if I have missed an obvious vulnerability and it is not as safe as I thought?

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September 07, 2012, 12:02:57 AM
 #951

great info thanks
techstrordinary
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September 07, 2012, 01:59:41 AM
 #952

This is a great Howto, but I thought people might be interested in a sort of middle-path:

1. Install Linux inside a virtual machine, secure it, and lock it down using IPTables. Install bitcoin and create your 'íntermediate' wallet here. Use it for storing moderate amounts of bitcoins (more than hundreds of dollars worth say) that will involve frequent transactions. If you set things up well it will be more secure than running from inside your native OS for example.

2. Have a LiveCD image of TAILS (an anonynimity/security focused LiveCD distribution) available inside the virtual machine. Install a virtual machine within the virtual machine and use it to boot the TAILS liveCD. Apply the technique described in the OP using this tails distro. This wallet should end up being not only super secure, but relatively anonymous. For even more anonymity, configure the first linux VM (host for Tails) to use a VPN, with IPTables filtering all on-vpn traffic. Purchase the VPN using Bitcoin. This is the ultimate paranoia solution for both anonymity and security.

Or just make sure have a decent virus checker installed, and copy your wallet to removable device that you can copy to from your computer when you need it. Although that might be suggested in one of the other 50 000 posts on this topic!
oldschool
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September 08, 2012, 12:22:47 AM
 #953

blockchain.info has good security and a good record for an online wallet. But I still wouldn't trust them to store anything significant. As the old saying goes, if you want something done right - do it yourself.

Thanks for the input....  What do most people consider significant for bitcoin?  Should I be tinfoil hat and transfer everything to a 100% secure wallet offline thats never touched a connected device before, or should I just keep anything greater than say $100 worth of bitcoin offline like that and anything less on easy to access convenient online formats like blockchain.info or possibly spread across things like 2BTC ewallet, 2BTC cellphone wallet, 2BTC computer wallet, 2BTC brain wallet and the rest on a secure offline wallet or something?

How does everyone decide the difference between tinfoil hat security and actual usability and convenience with there bitcoins?

Thanks!

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Berend de Boer
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September 08, 2012, 01:30:57 AM
 #954

As this has become a very large topic, was there any mention that a gpg encrypted wallet is as safe as it gets? Doesn't matter even if you post it on a hackersanonymous board. Unless quantum computers become a reality, no one can decrypt a gpg 4096-bit encrypted wallet.

Obviously to use the wallet you might have to decrypt it. But you can decrypt to a memory disk, transfer the money out/in, and encrypt it again.

I'm happy to create 100 BTC wallet and post that publicly to prove my point :-)
lyth0s
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September 08, 2012, 09:14:05 PM
 #955

Excellent information for a beginner thanks!

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Monkey1
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September 09, 2012, 08:16:45 PM
 #956

blockchain.info has good security and a good record for an online wallet. But I still wouldn't trust them to store anything significant. As the old saying goes, if you want something done right - do it yourself.

Thanks for the input....  What do most people consider significant for bitcoin?  Should I be tinfoil hat and transfer everything to a 100% secure wallet offline thats never touched a connected device before, or should I just keep anything greater than say $100 worth of bitcoin offline like that and anything less on easy to access convenient online formats like blockchain.info or possibly spread across things like 2BTC ewallet, 2BTC cellphone wallet, 2BTC computer wallet, 2BTC brain wallet and the rest on a secure offline wallet or something?

How does everyone decide the difference between tinfoil hat security and actual usability and convenience with there bitcoins?

Thanks!

Thats really up to you.  3 BTC will be a lot for some but to others 1000 BTC is peanuts.  Its no different to cash.  Some people are happy walking around with $5000 in their pocket.  Others wont carry more than $50!  I would only keep enough to cover regular transactions on your connected device and store the rest in an offline wallet.

dotcom
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September 10, 2012, 06:28:29 AM
 #957

good tips, i might try a few in the coming days
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September 10, 2012, 01:16:46 PM
 #958

thanks for the info. pretty useful stuff

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jhill38
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September 10, 2012, 03:54:55 PM
 #959

Thanks for the post.  Seems a bit confusing though will have a try
Monkey1
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September 10, 2012, 08:30:22 PM
 #960

Give Armory a go.  Pretty straight forward, good guide and very secure.  Downside is you need standard client open to use it, but thats no biggy!

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