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Author Topic: Automated cold wallet withdrawals safe if compiled into binarys?  (Read 386 times)
derrend
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April 22, 2014, 01:36:22 AM
 #1

extended from - https://bitcointalk.org/index.php?topic=578776.0

Using the 'bitcoind' command line program is it possible to withdraw from a cold wallet as long as you have the private key such as:
Code:
./bitcoind sendfrom coldwallet customer 0.1 theprivatekey
What is the correct command/context to use and where do i supply the private key?

And...
If inside of my source code script I was to supply the private key such as:
Code:
coldwalletkey = thEC0ldk3Yetcetcetc
and then ran it through a compiler so it cannot be reverse engineered and read (or at least is very difficult), then would this be a good solution to prevent hackers that access the server from spending funds from the wallet yet still allow me to automate it?

Thanks in advance Smiley
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DannyHamilton
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April 22, 2014, 01:38:33 AM
 #2

extended from - https://bitcointalk.org/index.php?topic=578776.0

Using the 'bitcoind' command line program is it possible to withdraw from a cold wallet as long as you have the private key such as:
Code:
./bitcoind sendfrom coldwallet customer 0.1 theprivatekey
What is the correct command/context to use and where do i supply the private key?

And...
If inside of my source code script I was to supply the private key such as:
Code:
coldwalletkey = thEC0ldk3Yetcetcetc
and then ran it through a compiler so it cannot be reverse engineered and read (or at least is very difficult), then would this be a good solution to prevent hackers that access the server from spending funds from the wallet?

Thanks in advance Smiley

This is not a cold wallet.

This is a hot wallet.  You have your definitions mixed up.

A cold wallet is not connected to the internet.  It is not possible to "automate" the spending of funds from a cold wallet.

grue
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April 22, 2014, 01:40:49 AM
 #3

Using the 'bitcoind' command line program is it possible to withdraw from a cold wallet as long as you have the private key such as:
Code:
./bitcoind sendfrom coldwallet customer 0.1 theprivatekey
What is the correct command/context to use and where do i supply the private key?
it's not so simple. if you want to create a transaction with a private key that's not in the wallet, you'll need to use the raw transactions api.

If inside of my source code script I was to supply the private key such as:
Code:
coldwalletkey = thEC0ldk3Yetcetcetc
and then ran it through a compiler so it cannot be reverse engineered and read (or at least is very difficult), then would this be a good solution to prevent hackers that access the server from spending funds from the wallet?
security through obscurity. what could possibly go wrong?

It is pitch black. You are likely to be eaten by a grue.

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derrend
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April 22, 2014, 01:45:43 AM
 #4

Thanks to the both of you Smiley

I don't understand why it isn't possible but I'll take your word for it and press on any way. Shame though Sad

Many thanks as always Smiley
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April 22, 2014, 09:42:43 PM
 #5

You could do all the automation you want on a cold wallet, but nothing will ever come of it because you're not connected to the internet.

Guide to armory offline install on USB key:  https://bitcointalk.org/index.php?topic=241730.0
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