Some Bitcoin Wallet Questions

[SilverandBitcoins]

1. Do you have to backup your wallet after each transaction?

2. Can you have multiple BTC wallets on the same computer?

3. Do you only backup installed software wallets, or do online wallets like blockchain.info, Coinbase and Strongcoin wallets get backed up too?

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[BookLover]

1.  Depends on your client.

2.  Yes, but the difficulty of this depends on your client.

3.  Depends on the service.  (e.g it's impossible for you to backup your wallet on Coinbase)  It's best not to put more money in an online wallet than you can spare to lose, I learned this the hard way.

I typed this and realized I don't really answer any of your questions.  If you would like more detail just post the specific software/service you are considering and I would be glad to answer any further questions.

[SilverandBitcoins]

I'll try to be more specific:

1. Do you have to backup your wallet after each transaction?  I use the QT version of BTC, LTC and PPC installed on my computers.  I also have a version of NMC that is not actually installed as a program on the computer - it opens from a shortcut I created - it allows you to save a backup .dat file the same way.

2. Can you have multiple BTC wallets on the same computer?  I already have BTC QT installed on my laptop - what would you suggest if I want to install a couple more BTC wallets on the same computer?

3. Is there something I should be making a copy of, or backing up on blockchain.info wallet? Strongcoin actually does have a paper key that you can save.

[SilverandBitcoins]

The most important question is #1.  I want to know if I should be backing up the wallets after each transaction.

[BookLover]

1) Short Answer:  No. 

1) Long Answer:  If you don't create any new receiving addresses and don't send any btc, (basically you only receive coins on addresses you already have) then you can go indefinitely without having to backup your wallet.  If you are sending coins or creating new receiving addresses then you need to backup every time you perform 100 of the mentioned actions.  This is because the bitcoin-qt client uses an address from the 'keypool' every time you send coins or create a new receiving address.  By default the 'keypool' size is 100 addresses, but you can change the size so you don't need to backup as often. To change the size just add "keypool=size" (without the quotation marks and with size replaced with the number of addresses you want in the keypool) to bitcoin.conf or add -keypool=size to a shortcut's target (again with size replaced with the number of addresses you want in the keypool).  Beware changing it to >1000 as it will take a long time for bitcoin-qt to load because it has to create all those addresses.

2) If by multiple wallets you mean multiple bitcoin clients, then yes you can have multiple wallets on the same computer.

3) I can't answer this question as I have never used blockchain.info's wallet.  Sorry I can't be of more help here.

[DannyHamilton]

3. Do you only backup installed software wallets, or do online wallets like blockchain.info, Coinbase and Strongcoin wallets get backed up too?

A wallet is a system for storing private keys that allows you to identify transactions that were sent to you, and send transactions to others. A wallet provides you control over YOUR bitcoins.  If you don't have the private key, then they aren't your bitcoins.

Coinbase is not a wallet (no matter what they or anyone else tries to tell you).  Coinbase is an unregulated, uninsured, unaudited bank account.

They have the private keys, so the bitcoins are all theirs.  In exchange for your U.S. dollars (or in exchange for donating bitcoins to them), then provide you with a promise that they will send an equivalent amount of their bitcoins to wherever you ask them to send the bitcoins whenever you ask it of them.  You are relying on this promise, and are relying on them to backup and secure their bitcoins appropriately so that they will still be there when you make such a request at a later date.

blockchain.info does provide you access to the private keys.  Furthermore, blockchain.info does not have access to the private keys in unencrypted form.  Therefore, they cannot help you if you lose/forget your password.  The bitcoins are yours and you are responsible for securing them.  Blockchain.info provides you with the ability to create a backup of your private keys so you can still access your bitcoins if the blockchain.info website disappears.

[LanMachine]

3. Do you only backup installed software wallets, or do online wallets like blockchain.info, Coinbase and Strongcoin wallets get backed up too?

A wallet is a system for storing private keys that allows you to identify transactions that were sent to you, and send transactions to others. A wallet provides you control over YOUR bitcoins.  If you don't have the private key, then they aren't your bitcoins.

hi..
i have a question...
if it possible to find out witch wallet tool i used to create a address (bitcoin qt or multibit...)

thanks for any answer!

[DannyHamilton]

3. Do you only backup installed software wallets, or do online wallets like blockchain.info, Coinbase and Strongcoin wallets get backed up too?

A wallet is a system for storing private keys that allows you to identify transactions that were sent to you, and send transactions to others. A wallet provides you control over YOUR bitcoins.  If you don't have the private key, then they aren't your bitcoins.

hi..
i have a question...
if it possible to find out witch wallet tool i used to create a address (bitcoin qt or multibit...)

thanks for any answer!

I don't understand your question.

What are you trying to figure out?

[LanMachine]

3. Do you only backup installed software wallets, or do online wallets like blockchain.info, Coinbase and Strongcoin wallets get backed up too?

A wallet is a system for storing private keys that allows you to identify transactions that were sent to you, and send transactions to others. A wallet provides you control over YOUR bitcoins.  If you don't have the private key, then they aren't your bitcoins.

hi..
i have a question...
if it possible to find out witch wallet tool i used to create a address (bitcoin qt or multibit...)

thanks for any answer!

I don't understand your question.

What are you trying to figure out?

i does create a bitcoin address.
this one i use for creating a account on a website.
this was my address for withdrawing btc.
but one times i experimented with lot of other bitcoin wallets to look witch is better!
the problem is..
i think thats one of this wallets i used for creating this address but i don´t know witch one...
i have look and testing witch one its maybe can be but maybe i dont find  the right one!
now my question....
if its possible to find out witch wallet program (tool) i use when i create this address....

i know that the tools write the keys on my hdd....becouse if i uninstall bitcoin-qt and reinstall it again then all my addresses are again in the wallet...
if its possible to find out this tool then i can maybe get back my money that i withdrawed to this address!
i cant remember witch tool i use!
i know the transaktion. one guy help me to change the withdrawl address! its realy my address (lol was)..

https://blockchain.info/address/19uA7Fp51MLMMww5sRMED8jGB3jtp9RE2e

[ZephramC]

3. Do you only backup installed software wallets, or do online wallets like blockchain.info, Coinbase and Strongcoin wallets get backed up too?

A wallet is a system for storing private keys that allows you to identify transactions that were sent to you, and send transactions to others. A wallet provides you control over YOUR bitcoins.  If you don't have the private key, then they aren't your bitcoins.

hi..
i have a question...
if it possible to find out witch wallet tool i used to create a address (bitcoin qt or multibit...)

thanks for any answer!

I don't understand your question.

What are you trying to figure out?

i does create a bitcoin address.
this one i use for creating a account on a website.
this was my address for withdrawing btc.
but one times i experimented with lot of other bitcoin wallets to look witch is better!
the problem is..
i think thats one of this wallets i used for creating this address but i don´t know witch one...
i have look and testing witch one its maybe can be but maybe i dont find  the right one!
now my question....
if its possible to find out witch wallet program (tool) i use when i create this address....

i know that the tools write the keys on my hdd....becouse if i uninstall bitcoin-qt and reinstall it again then all my addresses are again in the wallet...
if its possible to find out this tool then i can maybe get back my money that i withdrawed to this address!
i cant remember witch tool i use!
i know the transaktion. one guy help me to change the withdrawl address! its realy my address (lol was)..

https://blockchain.info/address/19uA7Fp51MLMMww5sRMED8jGB3jtp9RE2e

Even the same tool run twice will (or at least should!) generate two different addresses.

[LanMachine]

3. Do you only backup installed software wallets, or do online wallets like blockchain.info, Coinbase and Strongcoin wallets get backed up too?

A wallet is a system for storing private keys that allows you to identify transactions that were sent to you, and send transactions to others. A wallet provides you control over YOUR bitcoins.  If you don't have the private key, then they aren't your bitcoins.

hi..
i have a question...
if it possible to find out witch wallet tool i used to create a address (bitcoin qt or multibit...)

thanks for any answer!

I don't understand your question.

What are you trying to figure out?

i does create a bitcoin address.
this one i use for creating a account on a website.
this was my address for withdrawing btc.
but one times i experimented with lot of other bitcoin wallets to look witch is better!
the problem is..
i think thats one of this wallets i used for creating this address but i don´t know witch one...
i have look and testing witch one its maybe can be but maybe i dont find  the right one!
now my question....
if its possible to find out witch wallet program (tool) i use when i create this address....

i know that the tools write the keys on my hdd....becouse if i uninstall bitcoin-qt and reinstall it again then all my addresses are again in the wallet...
if its possible to find out this tool then i can maybe get back my money that i withdrawed to this address!
i cant remember witch tool i use!
i know the transaktion. one guy help me to change the withdrawl address! its realy my address (lol was)..

https://blockchain.info/address/19uA7Fp51MLMMww5sRMED8jGB3jtp9RE2e

Even the same tool run twice will (or at least should!) generate two different addresses.

maybe its true, but the privat key is allready on the HDD!!