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btceic
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November 03, 2013, 04:05:15 PM
 #1

http://www.reddit.com/r/Bitcoin/comments/1pt9tc/question_idea/

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TheNewAnon135246
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November 03, 2013, 04:24:46 PM
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I don't think this is the right section for asking questions OP.

Anyways, this is the question asked when you click the link:

As my stash of bitcoin increases I am becoming worried about the safety of my bitcoin being stored in one wallet on one machine. For numerous reasons I do not like the idea of a paper wallet, nor does the idea of a cold wallet appeal to me either. It occurred to me that we could use the distributed nature of bitcoin itself to cloudify our wallets. Does the bitcoin protocol already allow for this? What are my options today for safely storing my bitcoin?

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btceic
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November 03, 2013, 04:33:17 PM
 #3

I don't think this is the right section for asking questions OP.

Anyways, this is the question asked when you click the link:

As my stash of bitcoin increases I am becoming worried about the safety of my bitcoin being stored in one wallet on one machine. For numerous reasons I do not like the idea of a paper wallet, nor does the idea of a cold wallet appeal to me either. It occurred to me that we could use the distributed nature of bitcoin itself to cloudify our wallets. Does the bitcoin protocol already allow for this? What are my options today for safely storing my bitcoin?

This intrigues me though:
Quote
It occurred to me that we could use the distributed nature of bitcoin itself to cloudify our wallets. Does the bitcoin protocol already allow for this? What are my options today for safely storing my bitcoin?

Can we distribute our wallets so that they are not reliant upon a single point of failure? Surely this question belongs in the project development area no?

Quote
Let me restate my question as I don't think I articulated it well enough.

What I am thinking of is to split a wallet (encrypted) in such a way that it is distributed throughout the cloud in bits and pieces so that the only way a wallet could be deleted (in whole) would be for the entire network to go down, much like bittorrent distributes files across the worlds computers, so would your wallet and thus be accessible no matter where in the world you are.

♫ This situation, which side are you on? Are you getting out? Are you dropping bombs? Have you heard of diplomatic resolve? ♫ How To Run A Cheap Full Bitcoin Node For $19 A Year ♫ If I knew where it was, I would take you there. There’s much more than this. ♫ Track Your Bitcoins Value
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November 04, 2013, 09:03:29 AM
 #4

Usually the wallet files (in the sense of the bits and bytes that make up a wallet) are not the issue - if you want to store them publicly, they need to be encrypted. As wallets are only keys themselves, the key that unlocks the wallet file again needs to be securely stored... maybe in the blockchain as well? You can't do that unencrypted, as the data is public though! So you need to store the key to the key to the wallet file (which contains keys to access your coins) someplace safe...

... how about encrypting it and storing it in the blockchain? Wink

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