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Author Topic: New BitCoin Address - perma addy?  (Read 1022 times)
MtRev
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June 22, 2011, 11:45:05 AM
 #1

If I generate a new BitCoin address, is my old one still valid to receive payments?

Another question, I read on the forum how some people were using easy passwords such as "123456" or "abc123"
Now my question is.. . what is this password for? How are they getting password cracked?

I didn't even know BitCoin used any passwords other then a private key file (wallet.dat).
Just when I thought I got the idea of how this works, I'm now more confused then before.


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Caesium
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June 22, 2011, 12:07:11 PM
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Yes, you can generate and use as many receiving bitcoin addresses as you like. There is a list of all you've generated in the menu option "Your Receiving Addresses"

As to the passwords, bitcoin itself does not require one, no - you're probably seeing threads about mtgox, a trading exchange which was recently hacked.

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bitcoin88
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June 22, 2011, 12:18:35 PM
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but what if someone uninstalls bitcoin (or format harddrive) and than re-install it again and after that sends payment to an old address? Does the bitcoin transfer go through and bitcoins are lost forever or is such transfer impossible? Huh

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Caesium
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June 22, 2011, 12:29:08 PM
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If you lose the wallet.dat that is associated with an address, the coins and any future coins sent to that address are lost. Morale of the story: keep wallet.dat safe and backed up.

(wallet.dat being the file the bitcoin client generates and stores on your filesystem)

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MtRev
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June 22, 2011, 12:30:18 PM
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@Caesium: thanks for clearing that up for me.

@Bitcoin88: i think there is a single file you need to make a backup copy of "wallet.dat"
So when you format your comp, you just need to reinstall the BitCoin client and replace the "wallet.dat" file with the one you backed up.
(someone please correct me if i'm wrong)

I do have a related question.. . What if I have a copy of "wallet.dat" on two different computers, and each of the computers received a payment? Would one overwrite the other causing it to lose one of the payments? 

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bitcoin88
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June 22, 2011, 12:33:57 PM
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thanks.. i should better locate my wallet.dat now  Wink


@MtRev: good question.I would like to know answer as well

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MtRev
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June 22, 2011, 12:38:09 PM
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wallet.dat can be found in these locations:

Windows:
%APPDATA%/Bitcoin/

Mac:
~/Library/Application Support/Bitcoin/wallet.dat

Linux/Unix:
~/.bitcoin/wallet.dat

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kwiky
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June 22, 2011, 12:45:27 PM
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Always backup your wallet.dat in the event of a computer failure you can restore it and have all of your BTC.
MtRev
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June 22, 2011, 12:50:54 PM
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Yes, but that still does not answer our queston:

Quote
What if I have a copy of "wallet.dat" on two different computers, and each of the computers received a payment?
Would one overwrite the other causing it to lose one of the payments? 

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June 22, 2011, 12:57:07 PM
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Not the individual clients, but the whole systems receives the transfer. So if you have two computers with the same wallet.dat they will always be synchronized (as long as they have internet access Wink )
MtRev
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June 22, 2011, 01:04:04 PM
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Thanks for clearing that up for us.
I think I'm ready to get my feet wet now lol.

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