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Author Topic: Test Paper Backup - New Password  (Read 866 times)
l.j2300
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November 27, 2013, 09:39:58 PM
 #1

Hey all,

I just had a quick question regarding the testing a paper back up on Armory. When I went to "import wallet" I clicked the test paper backup option and put in my root and chain code and then it found my wallet ID. I then went back from the screen and went to import my wallet again (this time not checking the test backup option) and it found my wallet ID again of course. When I pressed ok to confirm that was my wallet ID it lead me to a screen saying "new password". I then went on to enter a new password.

My question regarding this is why does it allow someone to enter a new password... shouldn't this wallet be encrypted if one already encrypted it with a different password? It seems like this would be less secure as if someone just randomly types in the root and chain code and alters it a bit it would detect another wallet ID and one could just import it and put another password and have full access to the wallet.  Most likely I am just being too paranoid of a collision or just don't understand it yet.
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November 28, 2013, 11:27:04 AM
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Paper wallet backups are full backups, including any sort of user forgotten decryption key (password).

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l.j2300
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November 28, 2013, 12:31:55 PM
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Thanks for clearing that up Automatic. I thought it was some sort of bug or something... I guess the odds of creating the same root and chain code would be very rare as well.
etotheipi
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November 30, 2013, 03:48:07 AM
 #4

The vast majority of lost coins in the world are not stolen or on broken harddrives, but instead due to forgotten passwords.  I am very aggressive about getting people to make paper backups, because it protects you for all these situations.  An encrypted digital backup doesn't protect you from forgotten passwords, which are vastly more common than any other problem.   eople are not used to the idea of irrecoverable data.

If you are concerned about physical security, I recommend using the new fragmented backup feature in the latest version of Armory.

Founder and CEO of Armory Technologies, Inc.
Armory Bitcoin Wallet: Bringing cold storage to the average user!
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