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Author Topic: Security Methods for Bitcoin Service Providers.  (Read 8073 times)
BitcoinFX
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March 11, 2010, 04:14:55 AM
 #1

In addition to 'best computing practices' and network security I wanted to share a simple method that I will be using to securely store and safeguard my 'customers' Bitcoins.

As well as, the usual back-up of the wallet.dat, encryption, regular system patching / updates and having a good firewall etc, etc...

I realized that I don't need to 'store' the Bitcoins at the Bitcoin address that is (a) managing transactions (b) generating more Bitcoins and which, therefore, is 'online' 24/7 and 'open' to a potential attacker.

A 2nd 'offline' machine with Bitcoin installed can be used to store the Bitcoins and only ever be connected to the internet when a bulk transaction is required. This 2nd Bitcoin address is only know to the service provider. This is a very simple solution to provided an always-on 'front of house' with secured 'vault' banking. In the unlikely event that a 'hacker' manages to steal your wallet.dat there will be 'nothing' in it aside from the most recently generated Bitcoins. A somewhat paranoid approach, but I think all will agree, very effective for security and piece of mind.

This maybe obvious to some, but I thought I would share this anyway.

I also recently discovered and have started using the open source Untangle Gateway. http://www.untangle.com/

This is great for Windows and Linux users and quite frankly I don't know of a better, free, 'all-in-one' solution that offers 'business' grade security.

Anyone with any other ideas or solutions feel free to add them. Grin

I was a very early Bitcoin adopter - I mined and sold over 12,500+ BTC before they reached just a few cents! I bought a slice of a rather famous Pizza!? and donated 500 BTC to the first Bitcoin Faucet. Got a bit lost along the way... logged out 2010... logged back in 2013... I did 'find' around 25 BTC (in old wallets and sites), which is better than none! <> BBR - CBX - CURE - DASHEMCGAP - GRC - LTC - MINT - NMC - NuBits - PPC - SLM - START - XPM - <> This is not investment advice! <>
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Be very wary of relying on JavaScript for security on sites such as blockchain.info and brainwallet.org. The site can change the JavaScript at any time unless you take unusual precautions, and browsers are not generally known for their airtight security.
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March 11, 2010, 01:23:53 PM
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Thanks for the tip
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