Bitcoin Forum
May 07, 2024, 05:52:28 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: bitcoin.org/en/secure-your-wallet = out of date?  (Read 540 times)
bitcoinrocks (OP)
Legendary
*
Offline Offline

Activity: 1372
Merit: 1000


View Profile
December 09, 2013, 05:00:27 PM
 #1

bitcoin.org/en/secure-your-wallet says:

Quote
Backup your entire wallet

Some wallets use many hidden private keys internally. If you only have a backup of the private keys for your visible Bitcoin addresses, you might not be able to recover a great part of your funds with your backup.

Quote
Make regular backups

You need to backup your wallet on a regular basis to make sure that all recent Bitcoin change addresses and all new Bitcoin addresses you created are included in your backup. However, all applications will be soon using wallets that only need to be backed up once.

Are either of these a concern with the latest versions of Multibit or the QT clients for the main alts?

By the way, with the QT clients, if I've encrypted my wallet with a password and I "Backup Wallet", is the backed up wallet encrypted also?
1715104348
Hero Member
*
Offline Offline

Posts: 1715104348

View Profile Personal Message (Offline)

Ignore
1715104348
Reply with quote  #2

1715104348
Report to moderator
1715104348
Hero Member
*
Offline Offline

Posts: 1715104348

View Profile Personal Message (Offline)

Ignore
1715104348
Reply with quote  #2

1715104348
Report to moderator
"The nature of Bitcoin is such that once version 0.1 was released, the core design was set in stone for the rest of its lifetime." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1715104348
Hero Member
*
Offline Offline

Posts: 1715104348

View Profile Personal Message (Offline)

Ignore
1715104348
Reply with quote  #2

1715104348
Report to moderator
1715104348
Hero Member
*
Offline Offline

Posts: 1715104348

View Profile Personal Message (Offline)

Ignore
1715104348
Reply with quote  #2

1715104348
Report to moderator
bitcoinrocks (OP)
Legendary
*
Offline Offline

Activity: 1372
Merit: 1000


View Profile
December 10, 2013, 03:42:20 PM
 #2

Should I just not worry about this?
wumpus
Hero Member
*****
Offline Offline

Activity: 812
Merit: 1022

No Maps for These Territories


View Profile
December 10, 2013, 03:45:28 PM
 #3

Yes, this is still a concern.

There is wallet software that uses "deterministic wallets" (BIP 0032) that use keys that are derived from a single seed. For example, Armory. Those you only need to back up once.

But for example Bitcoin-Qt (and Multibit AFAIK) does not, so you need to back up regularly if you use the wallet actively as new keys are added to the wallet all the time.

bitcoin.org/en/secure-your-wallet says:
By the way, with the QT clients, if I've encrypted my wallet with a password and I "Backup Wallet", is the backed up wallet encrypted also?
Yes. It is encrypted with the same passphrase.

Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through FileBackup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!