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Author Topic: HOWTO: create a 100% secure wallet  (Read 275351 times)
nobbynobbynoob
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May 23, 2013, 08:08:20 PM
 #2401

Theres no such thing as a 100% secure wallet, only around 99.99%

Definitely true for live wallets.

Cold storage is a different matter. If the existence of a person's cold wallet is kept secret, and the keys (or passphrase to the TrueCrypt containing the keys) are divided up into multiple parts which are stored safely in multiple locations not in the same building, that wallet is very close to 100% secure. It could be compromised by whatever hitherto unbeknown fallibilities exist in the Bitcoin protocol itself, but not by a conventional hack or even "rubber hose cryptanalysis", unless the robbers knew about the wallet and kidnapped the victim's family or something in order to try to force the victim to unlock the wallet. A secret offline wallet with split keys is a lot more than 99,99% secure, though nothing is ever 100% risk-free.

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drwho88888
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May 24, 2013, 03:37:07 PM
 #2402

Being a bit of a noob as far as BTC is concerned, I need a bit of advice.
I have a USB flash drive that has biometric protection and I would like to create on that drive the best possible (not necessarily 100% protection but 99.99% will do !) physical wallet I can.

What do you suggest I do, in as simple terms as possible, though I am pretty computer literate I'm not a coder ?

Any help appreciated. Thanks
jezagee
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May 24, 2013, 05:06:13 PM
 #2403

Theres no such thing as a 100% secure wallet, only around 99.99%

I guess there would be a lot more nines in the number you can achieve
nobbynobbynoob
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May 24, 2013, 10:33:31 PM
 #2404

Theres no such thing as a 100% secure wallet, only around 99.99%

I guess there would be a lot more nines in the number you can achieve

Yes indeed. The ultimate concern would be "rubber-hose cryptanalysis" since it's a bit tougher totally to mitigate that risk.

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TooOldForThisJob
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May 26, 2013, 05:34:32 PM
 #2405

Interesting HowTo!

Time to put my wallet in a safer place.
flyingmonkeycrap
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May 26, 2013, 06:02:50 PM
 #2406

What it sounds like is can make this wallet file; save it on an SD card. Lock it up in my closet.  Then deposit coins to the address associated with the wallet.dat file with out having to take it out of its 'spot' UNLESS i want to pull coins out of my savings?  If so this is awesome! I'm looking forward to setting this up.  Thanks for the post!

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May 26, 2013, 06:16:58 PM
 #2407

Just my grain of salt from a Mac point of view, if you have ML server installed and more than one Mac up and running - please find faults, it's all "as far as I am aware"... maybe too convoluted for general use! Wink

Mountain Lion Server can create net bootable images, so a nice easy situation sounds like:

0) download your ML install image

1) disconnect from internet, create new ML install, on a USB drive, 16+Gb, minimum install (no languages, print drivers etc)

2) startup from this USB drive, install Bitcoin and wallet (encrypt at your discretion)(you'll have to transfer via USB stock from another machine so as not to connect to internet)

3) use ML server to create netboot image

4) this netboot image is a little like a guest account, and when powered off, will forget everything you installed (so get it right the first time or you'll have to redo everything again!) or did whilst in use - but as your transactions should update on connecting your bitcoin client, then this info is "live" (via internet) each time you boot the image

you can use it as you would a Live CD of Linux, but with everything all ready installed and ready to use, & only perform your "high-end" bitcoin operations from this netboot image,.. if you previously prepared with as high security as possible (firewall blocks everything), you can be pretty sure that your brief use of this image will not be compromised...


* as noted from my member state, i'm a newbie, so if there is something I haven't understood 100% here (about bitcoin), I'm very open to making a better method...   ;-)
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May 26, 2013, 06:20:42 PM
 #2408

Save your file only save place
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May 26, 2013, 06:27:52 PM
 #2409

thanks for the time taken to do this. . .

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May 28, 2013, 06:30:21 PM
 #2410

Interesting, I must do this.
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May 28, 2013, 08:20:35 PM
 #2411

The thing I found to be the most ironic was the fact that a paper wallet would be the most secure of a digital currency.  Smiley
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June 01, 2013, 09:24:01 PM
 #2412

Awesome guide, thank you !
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June 02, 2013, 08:20:43 PM
 #2413

like the interpretation styke of yours Cheesy
apart finding few bits of wisdom I definitely can say that I had a good laugh reading it Cheesy

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June 03, 2013, 06:35:14 AM
 #2414

Cool, ill have to give this a try
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June 03, 2013, 06:45:01 AM
 #2415

thanks
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June 03, 2013, 06:45:36 AM
 #2416

save with password
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June 03, 2013, 11:43:24 AM
 #2417

thanks for this great guide!
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June 03, 2013, 01:40:03 PM
 #2418

I use nas to store my wallet.
MelG
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June 03, 2013, 02:09:22 PM
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 #2419

Hey guys,

I just earned a few Bitcoins and wanted to test creating a secure wallet. I have a few concerns which I hope someone could explain me. Here is my plan to do this. Please add if I miss something or some other method is better! Also I apology for my noobish questions.

1. I will create a Linux boot CD and boot my computer with that, starting Linux desktop version.
2. I will download Bitcoin software (Bitcoin-QT) from bitcoin.org/en/download and create a new wallet with a few addresses. (Is this absolutely secure on Linux environment? Without doing some hardening or adding firewall?)
3. I will encrypt the wallet by using the encryption provided within Bitcoin software.
4. I will copy the encrypted wallet over to a brand new flash drive and have a backup of it on another flash drive.
5. I will delete the wallet on my computer.
6. I will shutdown linux and go to my PC and send the coins over to the addresses of my new wallet that is stored within my flash drives.
7. I will store the flash drives separately to secure locations. (I understood that the wallets don't need to be connected to internet in order to receive Bitcoins to them?)
8. When I'd like to access my stash, I use the live CD to boot my PC, download bitcoin-qt, unencrypt the wallet from one of the flash drives and place it to the proper file path and that's it?

Is there anything else to add?
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June 04, 2013, 07:59:11 PM
 #2420

Very detailed and amusing guide.  Thanks.
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