Bitcoin Forum
December 09, 2016, 04:08:40 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: Flaw which will prevent Bitcoin from ever becoming widespread  (Read 1569 times)
ThomasV
Legendary
*
Offline Offline

Activity: 1722



View Profile WWW
March 07, 2012, 09:49:53 PM
 #21

Also I use StrongCoin.com and there is a great wallet service at BlockChain.info - there are many wallet services.  This is not an issue as many have stated.

As I understand StrongCoin, it works similarly to BCCAPI or Electrum in principle - the server never knows your private key.

I'd want to do a lot more research before using it though.

web wallets use javascript.
this means that javascript code is sent by their server to your browser when you visit the wallet.
if the server gets hacked, I am afraid the "server never knows your private key" assumption will fail miserably...

Electrum: the convenience of a web wallet, without the risks
1481256520
Hero Member
*
Offline Offline

Posts: 1481256520

View Profile Personal Message (Offline)

Ignore
1481256520
Reply with quote  #2

1481256520
Report to moderator
There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin-Qt, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481256520
Hero Member
*
Offline Offline

Posts: 1481256520

View Profile Personal Message (Offline)

Ignore
1481256520
Reply with quote  #2

1481256520
Report to moderator
1481256520
Hero Member
*
Offline Offline

Posts: 1481256520

View Profile Personal Message (Offline)

Ignore
1481256520
Reply with quote  #2

1481256520
Report to moderator
gadsdengraphics
Member
**
Offline Offline

Activity: 88


View Profile
March 07, 2012, 10:03:20 PM
 #22

Also I use StrongCoin.com and there is a great wallet service at BlockChain.info - there are many wallet services.  This is not an issue as many have stated.

As I understand StrongCoin, it works similarly to BCCAPI or Electrum in principle - the server never knows your private key.

I'd want to do a lot more research before using it though.

web wallets use javascript.
this means that javascript code is sent by their server to your browser when you visit the wallet.
if the server gets hacked, I am afraid the "server never knows your private key" assumption will fail miserably...

True, sort of.

The only opportunity for a hack to succeed is when a private key is entered - that should be only when the public key is created, and when signing transactions. This presents a much smaller attack surface than a fully hosted service, where your private key is available to be captured at an attacker's leisure.

Still, as you said - if you enter your private key on a website, you are subject to what's coming from that site. You're executing code on your machine from an outside source, with all of the gaping security issues that come with that.
Doff
Sr. Member
****
Offline Offline

Activity: 327


View Profile
March 08, 2012, 04:56:54 AM
 #23

Cool
Matthew N. Wright
Untrustworthy
Hero Member
*****
Offline Offline

Activity: 588


Hero VIP ultra official trusted super staff puppet


View Profile
March 08, 2012, 05:17:39 AM
 #24

Quote
Flaw which will prevent Bitcoin from ever becoming widespread

You know the biggest flaw of all in Bitcoin? Its ignorant and socially awkward user base.


Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!