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Author Topic: Is anyone safe?  (Read 964 times)
worldinacoin
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March 04, 2012, 05:22:02 AM
 #1

I read about Linode and Bitcoinica, wondering is anyone's wallet safe?  What additional precautions can be taken against having our wallets emptied?  Not that I have much Bitcoin left, but am rather curious on the security aspects.
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March 04, 2012, 05:32:48 AM
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1. Is the device containing your wallet connected to the internet or will it be connected to the internet? If yes, go to step 2. If no, go to step 3.

2. Is it encrypted with a secure passphrase? If yes, go to step 3. If no, encrypt it with a secure passphrase and go to step 3.

3. Your wallet is safe to use on trusted devices. Ensure it is in a safe physical location(s).

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March 04, 2012, 06:04:54 AM
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1. Is the device containing your wallet connected to the internet or will it be connected to the internet? If yes, go to step 2. If no, go to step 3.

2. Is it encrypted with a secure passphrase? If yes, go to step 3. If no, encrypt it with a secure passphrase and go to step 3.

3. Your wallet is safe to use on trusted devices. Ensure it is in a safe physical location(s).

If the value of the cash in your wallet is greater than that of the bitcoins on your computer, then using the normal passphrase encryption feature of the bitcoin client is probably adequate.  this method assumes your system wasn't compromised before the encrypt wallet step, and that there will be no compromise at a later time that includes a keylogger.

if you are worried about protecting larger amounts, only an offline air-gapped wallet is truly secure.  when bitcoin gets multisignature then there will be additional methods for securing a wallet.
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March 04, 2012, 06:44:33 AM
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Online wallets will never be 100% safe, but if you take all the necessary precautions it's unlikely they'll be stolen.

See:

https://en.bitcoin.it/wiki/Wallet_Security_Dos_and_Don%27ts_%28Windows%29

Offline wallets are practically impossible to steal, but again, only if you take the necessary precautions.

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March 04, 2012, 08:17:39 AM
 #5

If you mean immediately safe, yes.  If your Linode didn't mysteriously reboot, you're safe for now.

Long term you should encrypt your wallets and keep them in a secure location if possible.

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