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Author Topic: How do I keep my coin?  (Read 459 times)
nlnforever
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August 18, 2011, 07:44:28 AM
 #1

Hi all, it is my very newbie question: How do I keep my coin?

I have read many pages, but I still don't understand.

I downloaded the .exe from bitcoin.org , I understand that this application allows me to send coin or receive coin from other sender. But where my coin is kept? If my laptop is destroyed, how can I have my coin again in new laptop? Is there a way to steal coin from my account? Which information I should not tell others?

Thanks for your reading my noob question.
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garton
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August 18, 2011, 09:13:40 AM
 #2

Your coin is stored in a file on your PC called "wallet.dat". Nowhere else. If your laptop is destroyed, you can't have your coin back. You have to have a backup copy of the "wallet.dat" file.

There are no accounts, only the wallet.dat file.

Yes, the bitcoins can be stolen from your wallet.dat file if an attacker has access to your PC.

heinz
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August 18, 2011, 12:30:24 PM
 #3

Make sure you backup your wallet as well. If something happens, you lose everything.
joulesbeef
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August 18, 2011, 12:56:55 PM
 #4

wallet is a crappy term for the client and wallet.dat.. it should be keys.dat.

Your coins exist online, in the block chain, not in your "wallet.". You wallet contains encryption keys, which tell it which coins belong to you on the blockchain.

it's not really a minor difference... see anyone with a copy of your keys can move your coins around on the blockchain at will. Just like someone with a copy of your house keys can get into your house when you arent there. But you cant copy someones real life wallet with real life cash in it. And lets say you cloned the real life wallet, and spent the cash in the other one, this would not effect the cash in the first one. So wallet is a horrible name.

It is more like keys or a credit card number(which is sorta like a key in it self).. your credit isnt stored on the card itself, but at the credit agency, the card simply tells the merchant and the credit agency which account is yours.

Do back up the wallet.dat file.. best to a usb key and then best put in a bank in a safety deposit box(in case your house burns down)
it is also good to keep the original wallet.dat on a usb key that you only plug in to move coin. This way if you do get a trojan if wont be able to find your wallet, unless you plug it in.

mooo for rent
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