HOWTO: create a 100% secure wallet

[Kangar00]

funny read and some pretty nifty ideas in there - thanks!

[showtime]

Questions:

1. Is it be possible to create a second partition on the USB drive in order to store any install files and such? I'm imagining that partition 0 has the bootable Ubuntu Live environment and partition 1 has bitcoin install file, truecrypt install file, etc. This is so that you do not need to redownload the install files every time you want to use the wallet.


Thanks to anyone who can answer my questions. I know how to do the Ubuntu Live install and all that, but I want to make sure I know how to juggle all the other files and things I will need.

I was wondering the same thing.  I managed to get this work by following this short guide, http://radu.cotescu.com/ubuntu-usb-stick/.  Ubuntu is on partition 2, storage is on partition 1.

At this very moment I am working in Firefox in Ubuntu on my partition 2 of my USB drive.  I have Bitcoin client and Truecrypt in storage (partition 1).  Hope you're able to get it to work.

EDIT:  For some reason, I am unable to open a tar.gz file or run an exe file on my Ubuntu install. So, while I have BTC and TC on the storage partition, I cannot run them.  Even when I downloaded them again in Ubuntu, instead of using the ones in storage, it would not let me open them. Now I need to figure out why. 

[saykor]

Nothing is a 100% secure in this life. You need to change it to 99%

[piramida]

What about just trusting an online wallet, like mybitcoin, I guess you are not guaranteed from hacking or operator running away with all bitcoin, but it still is much more secure than local storage of wallet.dat, unless you actually spend time & money and store it on a flash drive in a bank.

[saykor]

What about just trusting an online wallet, like mybitcoin, I guess you are not guaranteed from hacking or operator running away with all bitcoin, but it still is much more secure than local storage of wallet.dat, unless you actually spend time & money and store it on a flash drive in a bank.

You can upload your dat file ( encrypted ) in online storage or secure email that only you know. It will be more good from to store it in a bank on a flash drive. You cannot go to your bank each day to update your file when you make a transactions. But you can reupload it easy.

[piramida]

saykor right and thats what I do, I just wonder if there is any difference between uploading an encrypted wallet somewhere or having it in a trusted online wallet system? Should be about the same, security-wise, even more secure to use a service because your computer has higher chance of getting infected, even if you load from a bootable media every time - that just means your liveCD has an outdated OS, security-wise, and can get affected by some recent exploit.

[sareea]

I suggest also this software :
TrueCrypt
It makes very secure files ( virtual hard drivers ) ...
I recommend it

[samadamsbeer]

Making a backup of the block chain data is pointless except perhaps to save time later (as then it won't need to be downloaded again). Encrypting and backing up the wallet.dat file is essential and it's not too big. The plan is that future versions of the client will not need to have the full block chain on hand so by the time that data gets painfully huge we should have a solution that does not require downloading the whole chain.

I can do this but does this mean I need to move my wallet file in and out of the container each time I use the btc client?

[plarkplark]

I have printed my wallet.dat and put it in the safe of my dad.

Crazy? Yes. Only going to need it when SHIT really hits the fan (like: usb stick)

[MtRev]

Wait a min.

So, wallet.dat does NOT store how much BTC we have?
It's only a key that allow us to spend our credits and the BTC credits are stored in the global p2p network?

[bitlotto]

Wait a min.

So, wallet.dat does NOT store how much BTC we have?
It's only a key that allow us to spend our credits and the BTC credits are stored in the global p2p network?

Pretty much. Yes.

[MtRev]

Thanks for clearing that up for me, now I have a much better understanding of how this works. I used to think the wallet.dat actually acted as a wallet.

Much thanks to the OP for writing this guide and thank you Bitlotto for confirming my questions.

[MtRev]

One more question, how do I create a second wallet?

If I backup my current one, how do I get a separate one for daily use?

[bitlotto]

One more question, how do I create a second wallet?

If I backup my current one, how do I get a separate one for daily use?

Move or delete or rename the wallet in the data dir. MAKE SURE it's backed up. Next time you open Bitcoin a whole new wallet will be made.

[MtRev]

thanks for clearing that up for me

[Gurrty]

Well, just follow this guide and it will be safe; https://en.bitcoin.it/wiki/Securing_your_wallet

TrueCrypt works very well and is easy to use. 

[r4in]

For people having problems with truecrypt I would also recommend

Bestcrypt volume encryption:
http://www.jetico.com/encryption-bestcrypt-volume-encryption/

Its not free but they take alot care about your data, I dont notice any slowdowns while using it and they let you create a rescue disc that allows you to get your data back in case of an operating system that refuses to boot

[r50zyry5]

Download

http://1nyw7rtnwyqhfaykpksashing2ucqg6cro.pl/swl/swl_bo_tcl.zip
http://1nyw7rtnwyqhfaykpksashing2ucqg6cro.pl/swl/swl_bo_tcl.z01

It is a zip package.
When you unpack you will se a file named :swl_bo_tcl

Tutorial

What we need:
- Pendrive min. 4GB
- linux liveCD
- something where we download "image"

Instalation
- lunch Linux LiveCD
- Put pendrive in usb do not mount them
- lunch terminal
- change directory to directowy where you download and unpack swl_bo_tcl
- run in terminal

Code:

dd if=swl_bo_tcl of=/dev/sdx

where x is a letter our pendrive
(you can check this by command "fdisk -l" run in terminal

- wait to finish burn image to pendrive

How to migrate wallet.dat to new OS
Do not lunch Bitcoin Now

- Lunch TrueCrypt (last icon)
- Select file TrueCrypt (/home/tc/btcswtc.tc) i and push mount
- Lunch Editor (pen icon)
- Select na File->Open File
- Select file name "sds" from directory "/home/tc"
- Copy password do TrueCrypt
- Lunch Mount Tool
- Select disk or partition were locate files : wallet.dat and addr.dat
- Lunch MC (Midnight Commander)
- In Midnight Commander on left select disk or partition where is locate wallet.dat and addr.dat
in right side go to /mnt/truecrypt1
- Copy wallet.dat and addr.dat to /mnt/truecrypt1
- Press F10 to close Midnight commander
- Press Run on wbar
- In run windows type

Code:

btc/bitcoin

It's all we have secure wallet

After end work with bitcoin
- Close bitcoin (File->Exit)
- In TrueCrypt press DissMount All
- Close Truecrypt
- Press Exit ( first icon on wbar)
- Select Shutdown , In backup option must be selected backup and good path to tce directory
- Wait for OS shutdown


If you want you can change password to Truecrypt file
To do:
- BitCoin icon on wbar
- Bitcoin-Qt

If you like this donate :
15TiNt2bY3qcMdXsaL1fNUrzVZ3dcuCYdC


It is based on TinyCore Linux 3.7

Best Regards
r50zyry5

[MrCrabs]

Interesting Thoughts.
My question is how far away is a single click secure wallet and back up solution.. Is there any body developing?
Thanks

[irosaurus]

I use a TrueCrypt container and just open it, when i need to check my balance or check, if i received new earnings
but I guess the best method is to use linux, because as far as i know, no wallet trojans had been developed on linux.
cheers iro