HOWTO: create a 100% secure wallet

[Harwinder]

wouldn't it just be easier to keep a computer just for bitcoins with nothing but bitcoins necessities on it, since you will be a full time bitcoin trader. Don't open anything on that computer or even install anything beyond the bitcoin client and a miner. do your dealing on the less secure computer but send only from the secure one..?

[1714037064]

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[Archie]

Create a truecrypt volume and insert the wallet.dat file in that volume. Make sure the volume has only a few megs, then copy it to your dropbox account so you can have it anywhere.

[ajareselde]

I prefer also grandma style 

[BitcoinForAll]

Thank a lot

[beeph]

what's right/wrong here?

1) a wallet starts with 1 address, a public key you can see in the client, and give to the world, and a private key hidden in a wallet.dat file
2) from time to time a wallet generates a new address for various reasons most of us dont care about
3) is this new address just a public key associated with your original wallet.dat private key, or is it a KEYPAIR ( a public address that is associated with a NEW additional private address now stored with your old private keys in wallet.dat)

[fivemileshigh]

I think wallet.dat holds the private keys for all the public keys associated, and thus controls the btc associated with those public addresses. If someone else also has the private key they can spend the coins too.

afaik....

[aiwk171]

what's right/wrong here?

1) a wallet starts with 1 address, a public key you can see in the client, and give to the world, and a private key hidden in a wallet.dat file
2) from time to time a wallet generates a new address for various reasons most of us dont care about
3) is this new address just a public key associated with your original wallet.dat private key, or is it a KEYPAIR ( a public address that is associated with a NEW additional private address now stored with your old private keys in wallet.dat.

1) 10 addresses
2) hm, the client generates the addresses, not the wallet.
3) The second thing. So don't back up your old wallet, generate new addresses, fill them with coins and expect the backed-up wallet to access these (am I making sense?)

[GoodS]

Hello,

using two wallets is really a great thing for security, ... but:

** Poll: Who is really doing so? **

Be honest. How many of us really use two wallets?
One for daily buying and selling. One for saving.

2% - 5% of the people in the forum? Maximum.

[hsf_context]

Great guide, thanks a lot!

Uh oh, my wallet.dat file is on Windows 

[Archie]

Hello,

using two wallets is really a great thing for security, ... but:

** Poll: Who is really doing so? **

Be honest. How many of us really use two wallets?
One for daily buying and selling. One for saving.

2% - 5% of the people in the forum? Maximum.

Well, you got me thinking. I guess I'll start using two wallets also.

[bitz000]

Thanks for the helpful information.

[canalta]

This is not feasible for practical applications like micropayments (or even normal sized payments).

[wmac]

wouldn't it just be easier to keep a computer just for bitcoins with nothing but bitcoins necessities on it, since you will be a full time bitcoin trader. Don't open anything on that computer or even install anything beyond the bitcoin client and a miner. do your dealing on the less secure computer but send only from the secure one..?

sounds like a classic bill adama technique.

[bitcointraderuk]

Thanks for the useful article.

[fivemileshigh]

Another newb question if I may:

What are the chances that the fresh OS run off a Live CD will get a trojan in the time needed to d/l the bitcoin client and create the safe wallet?

Am I getting insanely paranoid?

thanks

[AA666]

Very usefull article, will backup my wallet to USB stick with AES-256 encryption. Just not sure if AES-256 will enough secure in future.

[TheSpanishGuy]

Thank you

[itake]

Don't use the same encryption password as you do for your other accounts (mtGox, etc. etc.)

[BitcoinBabe]

OK,

You've probably already clarified this, but there are just too many replies to go through.

So I haven't made any transactions yet, but I have downloaded the bitcoin software to my PC (yes... it's windows... and?  :|).

Are you saying that even thougth I've done nothing involving my bitcoin wallet thus far, I should NOT back up this wallet onto a liveCD/USB...? Does this mean reinstalling bitcoin in ubuntu and then backing THAT up...?

[bitlotto]

OK,

You've probably already clarified this, but there are just too many replies to go through.

So I haven't made any transactions yet, but I have downloaded the bitcoin software to my PC (yes... it's windows... and?  :|).

Are you saying that even thougth I've done nothing involving my bitcoin wallet thus far, I should NOT back up this wallet onto a liveCD/USB...? Does this mean reinstalling bitcoin in ubuntu and then backing THAT up...?

The wallet contains "keys". Since it was on windows it COULD be compromised. If you back that up it's no good. You need a brand new wallet that's created while running the Live CD. Yes you would install Bitcoin while in Ubuntu. Run it. Get some addresses and then close it. Make sure its a new version of Bitcoin. Backup/Encrypt the new wallet. OR see:
https://forum.bitcoin.org/index.php?topic=24546.0 it may be more simple for a savings only account...