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Author Topic: Ben Bernanke made a statement about bitcoin today  (Read 3185 times)
Astrohacker (OP)
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August 05, 2011, 01:52:50 AM
 #1

He lost 10,000 BTC in the MyBitcoin scandal. From now on he's going to use the standard client, and encrypt the wallet.dat with truecrypt, and back it up on Dropbox. And he's looking into deterministic private keys. That might be the safest way to save his horde.
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August 05, 2011, 01:54:14 AM
 #2

Whenever Ben opens his mouth, markets drops.  So, that's why.
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August 05, 2011, 02:00:48 AM
 #3

He lost 10,000 BTC in the MyBitcoin scandal. From now on he's going to use the standard client, and encrypt the wallet.dat with truecrypt, and back it up on Dropbox. And he's looking into deterministic private keys. That might be the safest way to save his horde.

I would not store wallet.dat in Dropbox: http://venturebeat.com/2011/06/21/dropbox-files-left-unprotected-for-four-hours-due-to-software-bug/

I would definitely call that a big "Whoops", considering people ARE using it to store things like financial data, legal forms, and more. Dropbox is GREAT for file sharing, but I would never place anything sensitive there.

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August 05, 2011, 02:02:30 AM
 #4

He lost 10,000 BTC in the MyBitcoin scandal. From now on he's going to use the standard client, and encrypt the wallet.dat with truecrypt, and back it up on Dropbox. And he's looking into deterministic private keys. That might be the safest way to save his horde.

It would be great to see the Onion do this one
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August 05, 2011, 02:09:19 AM
 #5

I would not store wallet.dat in Dropbox: http://venturebeat.com/2011/06/21/dropbox-files-left-unprotected-for-four-hours-due-to-software-bug/

I would definitely call that a big "Whoops", considering people ARE using it to store things like financial data, legal forms, and more. Dropbox is GREAT for file sharing, but I would never place anything sensitive there.

I'm surprised more people aren't using wuala (wuala.com) considering it uses client-side encryption and isn't based in the US.
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August 05, 2011, 02:22:14 AM
 #6

I would not store wallet.dat in Dropbox: http://venturebeat.com/2011/06/21/dropbox-files-left-unprotected-for-four-hours-due-to-software-bug/

I would definitely call that a big "Whoops", considering people ARE using it to store things like financial data, legal forms, and more. Dropbox is GREAT for file sharing, but I would never place anything sensitive there.

I'm surprised more people aren't using wuala (wuala.com) considering it uses client-side encryption and isn't based in the US.


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August 05, 2011, 02:53:34 PM
 #7

Bernanke must be proud of the post-POMO market rout going on right now. Of course, after everyone opens up their 401k statements and have a collective heart attack, I'm sure QE <insert number> will be back on the table.

Monetary insanity...

fortitudinem multis - catenum regit omnia
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August 05, 2011, 03:00:40 PM
 #8

I would not store wallet.dat in Dropbox: http://venturebeat.com/2011/06/21/dropbox-files-left-unprotected-for-four-hours-due-to-software-bug/

I would definitely call that a big "Whoops", considering people ARE using it to store things like financial data, legal forms, and more. Dropbox is GREAT for file sharing, but I would never place anything sensitive there.

I'm surprised more people aren't using wuala (wuala.com) considering it uses client-side encryption and isn't based in the US.

Im surprised people just dont use cd's.


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GeniuSxBoY
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August 05, 2011, 04:02:13 PM
 #9

I would not store wallet.dat in Dropbox: http://venturebeat.com/2011/06/21/dropbox-files-left-unprotected-for-four-hours-due-to-software-bug/

I would definitely call that a big "Whoops", considering people ARE using it to store things like financial data, legal forms, and more. Dropbox is GREAT for file sharing, but I would never place anything sensitive there.

I'm surprised more people aren't using wuala (wuala.com) considering it uses client-side encryption and isn't based in the US.

Im surprised people just dont use cd's.


cds nuts?

Be humble!
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August 05, 2011, 04:18:48 PM
 #10

People can have my encrypted content in dropbox, they'll be brute-forcing it until the end of the universe.
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August 05, 2011, 04:20:47 PM
 #11

People can have my encrypted content in dropbox, they'll be brute-forcing it until the end of the universe.
Same here

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
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August 05, 2011, 06:01:50 PM
 #12

People can have my encrypted content in dropbox, they'll be brute-forcing it until the end of the universe.

Really? See link above. I don't think Dropbox has been probed to the fullest extent and the way you can extremely easily share files is what behooves me to not store ANYTHING there that I would want easily shared.

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August 05, 2011, 07:13:54 PM
 #13

People can have my encrypted content in dropbox, they'll be brute-forcing it until the end of the universe.

Really? See link above. I don't think Dropbox has been probed to the fullest extent and the way you can extremely easily share files is what behooves me to not store ANYTHING there that I would want easily shared.
I don't care, it's encrypted with a password that is twice as long as this sentence. I can host it in public, nobody's going to get in without knowing my ridiculously long and convoluted password.
Raize
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August 05, 2011, 07:37:52 PM
 #14

I don't care, it's encrypted with a password that is twice as long as this sentence. I can host it in public, nobody's going to get in without knowing my ridiculously long and convoluted password.

It bothers me that there are people that don't understand just how secure and easy Dropbox + Truecrypt is. EVERYONE should be doing this, and no one should be using online wallet sites, anymore. I just wish someone would make a Bitcoin client that didn't require 1 gig of space and let you set transaction fees lower than .01.
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August 06, 2011, 01:37:42 AM
 #15

truecrypt with plausible deniability 2 way encrypted and stored on a cd, a secured usb, gmail, and amazon. Password is insane to the membrane.

Everyone needs to do something similar imo. Only using android client for tiny daily amounts or mtgox for wallet type service for now for me. Never needed anything else.
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August 06, 2011, 09:50:49 AM
 #16

I don't care, it's encrypted with a password that is twice as long as this sentence. I can host it in public, nobody's going to get in without knowing my ridiculously long and convoluted password.

It bothers me that there are people that don't understand just how secure and easy Dropbox + Truecrypt is. EVERYONE should be doing this, and no one should be using online wallet sites, anymore. I just wish someone would make a Bitcoin client that didn't require 1 gig of space and let you set transaction fees lower than .01.

If you mostly pay into your wallet e.g. from mining then there's no real need to use a full client and wallet.dat. I haven't loaded the bitcoin current in weeks and instead check my balance from blockexplorer using my android app. In fact the last time I loaded the client it just reminded me how annoying it is to have to wait for the blockchain to download just to view your balance.

Will

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August 06, 2011, 10:15:17 AM
 #17

Why not use Spideroak instead of an iffy service like Dropbox?
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