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Author Topic: the Bitcoin "bank account"  (Read 2485 times)
FnuGk
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March 01, 2011, 04:07:17 PM
 #1

Hi i just found out about bitcoin about an hour or so ago. My Bitcoin client is current downloading blocks so i am not able to use all its features yet.

but i am wondering with no log in system or anything how do i access my bitcoins when i am not at the computer i just installed the client on? what stops some one else to use my bitcoins and so on?

My bitcoin address if you feel like giving things away Smiley
1NvURSqNqFUX1g4xAJe5xzBJYRkMSCyXqk
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gusti
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March 01, 2011, 04:36:00 PM
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mybitcoin.com

If you don't own the private keys, you don't own the coins.
kiba
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March 01, 2011, 04:37:50 PM
 #3

Your "bank account" is more like a wallet. It's actually stored on your computer.

Dude65535
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March 01, 2011, 04:39:20 PM
 #4

There is a file stored on your computer named wallet.dat that contains the information necessary to spend the bitcoins.

Its exact location varies slightly by which OS you are using but its in \[username]\application data\...\bitcoin

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markm
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March 01, 2011, 04:40:58 PM
 #5

Hmm I think of the wallet as more like your collection of bank cards and passbooks and passwords and PIN numbers.

I regard my actual "bank accounts" as being distributed across the peer to peer network, so everyone and their bitcoind has a backup of my bank accounts complete with balances. But I need some info from my wallet to convince them all that the accounts actually are mine...

-MarkM-

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FnuGk
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March 01, 2011, 04:42:19 PM
 #6

Your "bank account" is more like a wallet. It's actually stored on your computer.

yeah have just been reading through the wiki while waiting for responses. But i cant really find any deeper information about the wallet all i seem to be able to find is this page:
https://en.bitcoin.it/wiki/Data_directory
that shows where the "wallet" data files are stored. Does this mean that if my computer with the wallet goes down my wallet is lost? If i get infected by a worm or trojan will a hacker be able to "steal" my wallet by downloading it to his computer and then deleting it on mine?

My bitcoin address if you feel like giving things away Smiley
1NvURSqNqFUX1g4xAJe5xzBJYRkMSCyXqk
kiba
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March 01, 2011, 04:45:17 PM
 #7

Your "bank account" is more like a wallet. It's actually stored on your computer.

yeah have just been reading through the wiki while waiting for responses. But i cant really find any deeper information about the wallet all i seem to be able to find is this page:
https://en.bitcoin.it/wiki/Data_directory
that shows where the "wallet" data files are stored. Does this mean that if my computer with the wallet goes down my wallet is lost? If i get infected by a worm or trojan will a hacker be able to "steal" my wallet by downloading it to his computer and then deleting it on mine?

Yes. It's your responsibility to make sure you secure and backup your wallet.dat as well not downloading Trojans or worms.

Dude65535
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March 01, 2011, 04:46:47 PM
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If someone else has access to your wallet.dat file then they could spend your bitcoins. A hacker would be unlikely to delete your wallet file as that would tip you off and you should have a copy somewhere else. If you knew your wallet had been compromised it would be a race to get the coins out to another location.

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barbarousrelic
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March 01, 2011, 04:47:05 PM
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Does this mean that if my computer with the wallet goes down my wallet is lost? If i get infected by a worm or trojan will a hacker be able to "steal" my wallet by downloading it to his computer and then deleting it on mine?

Yes, and possibly yes. It is very important to keep your wallet backed up somewhere safe, and to keep your computer secure.

As of now there is no known virus that steals wallet files.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
markm
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March 01, 2011, 09:33:20 PM
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Quote: "As of now there is no known virus that steals wallet files."

Other than the "backup your wallet" one implemented and transmitted by Organic Peripheral Engineering, you mean?

-MarkM-

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grondilu
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March 01, 2011, 09:40:47 PM
 #11

If you knew your wallet had been compromised it would be a race to get the coins out to another location.

Interesting situation.  Would it be fine to just run something like:

bitcoind sendtoaddress $(bitcoind getnewaddress) $(bitcoind getbalance)

which means:  create a new address, and send all my bitcoins to it?
Dude65535
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March 01, 2011, 09:47:48 PM
 #12

Interesting situation.  Would it be fine to just run something like:

bitcoind sendtoaddress $(bitcoind getnewaddress) $(bitcoind getbalance)

which means:  create a new address, and send all my bitcoins to it?


Yes in theory, no in practice. The client pregenerates batches of addresses so that you don't have to back up your wallet as often.

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barbarousrelic
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March 01, 2011, 09:55:34 PM
 #13

Quote: "As of now there is no known virus that steals wallet files."

Other than the "backup your wallet" one implemented and transmitted by Organic Peripheral Engineering, you mean?

-MarkM-

That is not a virus. It's just somebody asking people to send in their wallets.

Do not waste your time debating whether Bitcoin can work. It does work.

"Early adopters will profit" is not a sufficient condition to classify something as a pyramid or Ponzi scheme. If it was, Apple and Microsoft stock are Ponzi schemes.

There is no such thing as "market manipulation." There is only buying and selling.
grondilu
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March 01, 2011, 09:59:27 PM
 #14

Yes in theory, no in practice. The client pregenerates batches of addresses so that you don't have to back up your wallet as often.

Ok, what about that then?

Code:

# get balance
balance=$(bitcoind getbalance)

# stop bitcoin
bitcoind stop

# rename corrupted wallet
mv .bitcoin/wallet.dat{,-CORRUPTED}

# restart bitcoin (thus creating a new wallet)
bitcoind

# generate a new address
addr=$(bitcoind getnewaddress)

# stop bitcoin
bitcoind stop

# backup new wallet
mv .bitcoin/wallet.dat{,-BRANDNEW}

# put the corrupted wallet back
mv .bitcoin/wallet.dat{-CORRUPTED,}

# start bitcoin
bitcoind

# send all bitcoins to addr
bitcoind sendtoaddress $addr $balance


Dude65535
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March 01, 2011, 10:10:27 PM
 #15

That procedure should work. Though obviously you will want to switch back to the new wallet at the end of it.

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grondilu
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March 01, 2011, 10:14:46 PM
 #16

That procedure should work. Though obviously you will want to switch back to the new wallet at the end of it.

Well, I would not try it on a healthy wallet though.   But I'll keep it in mind just in case...
opticbit
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March 03, 2011, 12:00:50 AM
 #17

There is an android app now, once set up you can use it to send the commands to a linux box.

Set up the same thing..
http://bit.ly/btcrefs
Get more bitcoins.
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