hilariousandco
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Activity: 3808
Merit: 2616
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December 05, 2013, 08:01:44 AM |
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I'm not sure, but I believe the M of N backups are in the upcoming release.
Sorry, I have no clue what "M of N backups" are... Could you please explain, or un-abbreviate? It's dividing the wallet into pieces and requiring a certain amount of them to rebuild the complete wallet. I've not yet used this feature with Armory, but I plan to. As I understand it, you can change the variables to different numbers. So, for example, you could divide your wallet into 5 pieces and require only 3 of them to recreate it entirely. This allows for excellent security and protection. You could place the 5 pieces in different, safe locations. It would require a thief to find three of them to steal your bitcoins. Yet, if two were destroyed (fire, flood, nuke, whatever), you could still recreate your entire wallet with the remaining 3. This is brilliant. Had no idea about this Armory wallet. Will have to do some research ASAP. |
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charleshoskinson
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Activity: 1134
Merit: 1008
CEO of IOHK
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December 05, 2013, 08:08:37 AM |
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They are rapidly evolving. Trace put 600k into the wallet.
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The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
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silvergoldandbitcoin (OP)
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December 05, 2013, 09:16:06 AM |
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I'm not sure, but I believe the M of N backups are in the upcoming release.
Sorry, I have no clue what "M of N backups" are... Could you please explain, or un-abbreviate? It's dividing the wallet into pieces and requiring a certain amount of them to rebuild the complete wallet. I've not yet used this feature with Armory, but I plan to. As I understand it, you can change the variables to different numbers. So, for example, you could divide your wallet into 5 pieces and require only 3 of them to recreate it entirely. This allows for excellent security and protection. You could place the 5 pieces in different, safe locations. It would require a thief to find three of them to steal your bitcoins. Yet, if two were destroyed (fire, flood, nuke, whatever), you could still recreate your entire wallet with the remaining 3. That's amazing! Lol I had no clue this could be done... God I love technology! I swear if I was born 100 years ago, and could see the future, I would probably go insane, just out of frustration with the current state of things. |
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silvergoldandbitcoin (OP)
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December 05, 2013, 09:17:51 AM |
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They are rapidly evolving. Trace put 600k into the wallet.
"Trace" is that someone's name? Or typo? |
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hilariousandco
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Activity: 3808
Merit: 2616
Join the world-leading crypto sportsbook NOW!
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December 05, 2013, 09:26:59 AM |
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They are rapidly evolving. Trace put 600k into the wallet.
"Trace" is that someone's name? Or typo? Yeah, it's a bit ambiguous. |
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charleshoskinson
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Activity: 1134
Merit: 1008
CEO of IOHK
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December 05, 2013, 11:04:19 AM |
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The revolution begins with the mind and ends with the heart. Knowledge for all, accessible to all and shared by all
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Abdussamad
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Activity: 3612
Merit: 1564
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December 05, 2013, 11:18:03 AM |
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Hey all, I just recently had 2.4 Bitcoin stolen from my coinlenders account, and I'm curious as to what the best solution is for cold storage?
Coinlenders didn't fold along with inputs.io? |
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Dabs
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Activity: 3416
Merit: 1912
The Concierge of Crypto
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December 06, 2013, 02:41:24 AM |
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@x86Daddy, let me know when you can do tungsten.  hehehe. |
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silvergoldandbitcoin (OP)
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December 06, 2013, 03:19:18 AM |
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Hey all, I just recently had 2.4 Bitcoin stolen from my coinlenders account, and I'm curious as to what the best solution is for cold storage?
Coinlenders didn't fold along with inputs.io? Apparently so. I emailed Trade Fortress, and was told bitcoin would be paid out based on how many each person had deposited. I have not received anything yet. |
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silvergoldandbitcoin (OP)
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December 06, 2013, 03:20:04 AM |
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@x86Daddy, let me know when you can do tungsten. hehehe. Wouldn't that be something! |
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silvergoldandbitcoin (OP)
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December 06, 2013, 05:17:36 AM |
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Excuse me while I... uhh... *goes to type in private key* |
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