HOWTO: create a 100% secure wallet

[payb.tc]

To have zero risk from a wallet, can I just not have one?

For example, I can just accept BTC directly into my mtgox account, and if I need to pay someone with BTC, with draw the BTC from my mtgox directly into the other person's wallet/mtgox account. Would this be safe?

no.

entrusting all your coins to anyone but yourself is most definitely not 'zero risk'.

[perlboy]

I'm not sure if it's already been mentioned in these 33 pages of posts (sorry I was lazy and didn't read it through) but wouldn't the most secure wallet on creation be the one that's put on a USB stick (encrypted or not) then shoved in a bank safe deposit box.

Nothing beats physical security offered by the brick & mortar people that have been securely holding stuff for decades.

Stu

[wyager]

I'm not sure if it's already been mentioned in these 33 pages of posts (sorry I was lazy and didn't read it through) but wouldn't the most secure wallet on creation be the one that's put on a USB stick (encrypted or not) then shoved in a bank safe deposit box.

Nothing beats physical security offered by the brick & mortar people that have been securely holding stuff for decades.

Stu

It's a lot harder to break AES than it is to break into a bank vault.

[perlboy]

I'm not sure if it's already been mentioned in these 33 pages of posts (sorry I was lazy and didn't read it through) but wouldn't the most secure wallet on creation be the one that's put on a USB stick (encrypted or not) then shoved in a bank safe deposit box.

Nothing beats physical security offered by the brick & mortar people that have been securely holding stuff for decades.

Stu

It's a lot harder to break AES than it is to break into a bank vault.

Like I said "encrypted or not". Just because there's AES encryption on something doesn't make it secure though. Think about it, if someone holds a gun to your head and tells you to disclose your AES password to unlock your wallet, would you die protecting it?

If it's in a bank vault presumably that person would either need more leverage (like kidnapping a family member) and serious balls to keep you motivated since you're going into the bank alone.

Of course, there's lots of if's, buts and maybe's around all the scenarios but I was mainly trying to point out that physical security is one of the most important elements of security. Encryption is very helpful (and is another element of an overall security approach) but not the be-all and end-all of making a '100% secure wallet'.

Just my 2c,

Stu

[wyager]

Good point. I suppose the weakest element in the encryption chain is the human.

[rizzy]

thanks im going to do this now

[Kaos]

Valid points, and interesting language... Or... You could just use Armory!

[sexystick]

Armory & Electrum both look awesome!

[discordian666]

Some good suggestions in this thread, one cant be too safe when it comes to keeping their wallet secure

[bcjunkie]

Definitely some good topics to think about. Emm........ thinking how I'm going to secure my wallet now.   Well... when I actually have something to put in my wallet.

[PharmaKarma]

I'm not sure if it's already been mentioned in these 33 pages of posts (sorry I was lazy and didn't read it through) but wouldn't the most secure wallet on creation be the one that's put on a USB stick (encrypted or not) then shoved in a bank safe deposit box.

Nothing beats physical security offered by the brick & mortar people that have been securely holding stuff for decades.

Stu

I disagree.  All wallets should be encrypted and if LEO is looking at you for possibly dealing, being a terrorist or money laundering, a warrant will remove all that steel rather quickly.

I store my backups as files using TruCrypt on client's servers deep, in an obscure location.

[vishiousx]

seems like a bit much for me right now, but im sure in time ill need to. thanks for the info

[Aberrix]

as a security conscious person, this is a great post. however, I'm certainly not investing my whole savings into bitcoin so a standard truecrypt vault is good enough for me.

[DamascusVG]

I'm not sure if it's already been mentioned in these 33 pages of posts (sorry I was lazy and didn't read it through) but wouldn't the most secure wallet on creation be the one that's put on a USB stick (encrypted or not) then shoved in a bank safe deposit box.

Nothing beats physical security offered by the brick & mortar people that have been securely holding stuff for decades.

Stu

It's a lot harder to break AES than it is to break into a bank vault.

Like I said "encrypted or not". Just because there's AES encryption on something doesn't make it secure though. Think about it, if someone holds a gun to your head and tells you to disclose your AES password to unlock your wallet, would you die protecting it?

If it's in a bank vault presumably that person would either need more leverage (like kidnapping a family member) and serious balls to keep you motivated since you're going into the bank alone.

Of course, there's lots of if's, buts and maybe's around all the scenarios but I was mainly trying to point out that physical security is one of the most important elements of security. Encryption is very helpful (and is another element of an overall security approach) but not the be-all and end-all of making a '100% secure wallet'.

Just my 2c,

Stu

I haven't read through all the posts either, but couldn't you use a TrueCrypt encrypted image with both an outer volume and a hidden inner volume? The outer volume would have a small "disposable" wallet(s), while the inner volume would have your super-secret horde of thousands of BTCs. If somebody threatens you, you provide them with the passphrase for the Outer Volume where they can steal your "disposable" wallet.

[lando coin]

hey i just read about this critfix for my wallet

how i install it?(without losing coins or the blockchaim)

thanx for help

greetings lando

[LoWang]

hey i just read about this critfix for my wallet

how i install it?(without losing coins or the blockchaim)

thanx for help

greetings lando

which critfix? What about providing a link for  ignorants like me?

[Red Emerald]

hey i just read about this critfix for my wallet

how i install it?(without losing coins or the blockchaim)

thanx for help

greetings lando

which critfix? What about providing a link for  ignorants like me?

There is a link next to "News" at the top of this page.  It cycles randomly between a couple different items.

https://bitcointalk.org/index.php?topic=69120.0

[Kush]

Very nice post man, thanks!

[Dabs]

1. Use bitaddress or vanitygen to make a bunch of bitcoin addresses. Offline.
2. Put the addresses into a file (text file, spreadsheet, whatever)
3. Make another separate file that only has the public keys (the addresses.)
4. Compress your file (.txt or .doc or .xls, whatever) using RAR with recovery record. Use impossible password like one of the keys.
5. Put that compressed file into a TrueCrypt volume.
6. Archive the TrueCrypt volume using the compression program with recovery record, just in case the files ever get corrupted or damaged.
7. Put the last file into a USB flash drive, an SD card, and burn several copies on CD / DVD.
8. Put everything into a waterproof and airtight box (or as reasonably waterproof as you can, such as plastic food containers.
9. Put plastic box inside a metal box or safe. Use a giant padlock or combination lock or buy a vault like the one in the Fast and Furious 5 movie.
10. Bury safe in a property you own (or not own, ask weed growers, they do this all the time.)
11. Don't forget where it is, get GPS coordinates or location.
12. You can start sending bitcoins to those addresses which are offline. I suggest sending between 1 BTC to 99 BTC to each address over time.

[R-]

Thanks for the informative post. These precautions will save your butt in the long term.