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Author Topic: MULTIBIT  (Read 587 times)
daoneway
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November 21, 2013, 10:39:01 PM
 #1

hey guys, i will write this here because i think in the other forums ill just end up gettin flamed Smiley


inputs.io stole 5 of my coins, and i want to securley store them.


Ive downloaded MultiBit and my first question is: Ive, just to test it, sent 0.0001 bitcoins to a adresse created in multibit and i wanted to resend it and i saw that i have not enough money to send it because of the miner fee... is there a way that i can send my 0.0001 btc, or even less?

is it safe if i just install multibit .. create and addresse (just turn off/on WLAN connection while doing this), send all my coins to the adresse give the wallet a password (also disconeccted) export my keys with a password, storing then in several safe places and be safe?

and btw do i have to update my private keys everytime someone send me payment?



thanks in advance, peace

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dr_yan_yan
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November 22, 2013, 12:14:50 AM
 #2

I am not sure on the security aspect of Multibit...

But I do use it to make transactions etc, and it seems quite fine to me.

But yeah, there is a transaction fee.

I think you will find that in just about any wallet though
Benjig
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November 22, 2013, 01:03:45 AM
 #3

always store them in a offline wallet,

Internet of things.
cShannon
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November 22, 2013, 04:30:33 PM
 #4

I guess one of the major concerns would be to make sure that private encryption keys are truly random generated... the possibility of having encryption keys pseudo-randomly generated would make wallets less "unique"...

However I want to believe that the code of the app has been carefully audited and revised by cryptoanalists or specialists  Huh.
daoneway
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November 23, 2013, 02:00:49 AM
 #5

so whats the safest way..

to store them on my macbook pro ? Cheesy
Brewins
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November 23, 2013, 02:02:30 AM
 #6

store them on blockchain.info?
Kluge
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November 23, 2013, 02:11:20 AM
 #7

Yeah, OP, that's fine (and no, you shouldn't need to update private keys unless maybe you create new addresses - Idunno if Multibit wallets are deterministic or not). Armory's safer and more convenient if you have the RAM (with the new version, you don't need 4GB+, but still 2GB+, I believe) and ability to keep up with the blockchain.

When you want to do a transaction, you'd plug a USB stick in the online computer (which has only a watch-only wallet), fill out the transaction info (saved as a file), move the USB stick with unsigned tx to the offline computer (with the real wallet), sign the transaction, move it back to the online computer and broadcast the transaction. Your hand is held throughout the procedure and it takes less than a minute, all without exposing your password online (unless you have some type of well-done virus on the USB stick, maybe).

Don't mix your coins someone said isn't legal
Flipke
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November 23, 2013, 09:49:33 AM
 #8

Hey,

multibit is on of the "official" clients on the bitcoin main website, so I think it's safe to assume that the wallet itself is safe to use.


One thing you have to remember is that it is not impossible that someone generates the same public/private key giving him/her access to your coins. This is not limited to multibit, but it might also happen to any online wallet/exchange/gambling site/... The chances for this are very limited and the amount of resources to brute force into someones wallet is very high and probably not worth it.
However, you can reduce the risk by create multiple adresses, one for each purpose; your money will not be behind a single address so it'll be harder to steal all your coins.


About the transaction fees: you'll just have to pay them unless you're willing to wait a loooooong time for your transaction: the more you pay, the faster the payment occurs.
cShannon
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November 23, 2013, 01:32:23 PM
 #9

However, you can reduce the risk by create multiple adresses, one for each purpose; your money will not be behind a single address so it'll be harder to steal all your coins.

Not true. It's just necessary to guess the encryption key to have access to someone bitcoins.
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