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Author Topic: Blockchain and Multibit  (Read 2559 times)
Aggressor66
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January 17, 2015, 03:00:17 PM
 #41

Whatever Bitcoin wallet you choose, it is important to protect it from hacking. By encrypting your passwords, backing up your wallet, and possibly using multi-signature you can ensure safety and security of your Bitcoins  Wink
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January 17, 2015, 03:46:45 PM
 #42

Whatever Bitcoin wallet you choose, it is important to protect it from hacking. By encrypting your passwords, backing up your wallet, and possibly using multi-signature you can ensure safety and security of your Bitcoins  Wink

WOW! Could you explain how to do all that? Smiley
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January 17, 2015, 05:41:08 PM
 #43

both blockchain and multibit have their pros and cons, but considering blockchain's recent hack might want to consider other options as well. If you dont want to download a 30 GB blockchain and feel confident in keeping your wallet secure on your computer multibit is a perfect choice, so is electrum.
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January 17, 2015, 09:56:10 PM
 #44

both blockchain and multibit have their pros and cons, but considering blockchain's recent hack might want to consider other options as well. If you dont want to download a 30 GB blockchain and feel confident in keeping your wallet secure on your computer multibit is a perfect choice, so is electrum.

Do you have the link for electrum?
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January 17, 2015, 10:07:36 PM
 #45

both blockchain and multibit have their pros and cons, but considering blockchain's recent hack might want to consider other options as well. If you dont want to download a 30 GB blockchain and feel confident in keeping your wallet secure on your computer multibit is a perfect choice, so is electrum.

Do you have the link for electrum?

http://lmgtfy.com/?q=electrum+wallet

its amazing how many people refuse to use google. Electrum, if i remember correctly, takes the transaction fee out of what youre sending, so might help to keep this in mind. I just use it as a "portable wallet" by remembering the mnemonic
Aggressor66
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January 17, 2015, 10:26:41 PM
 #46

Whatever Bitcoin wallet you choose, it is important to protect it from hacking. By encrypting your passwords, backing up your wallet, and possibly using multi-signature you can ensure safety and security of your Bitcoins  Wink

WOW! Could you explain how to do all that? Smiley

1) Encrypt it
Always use a strong password. This makes it difficult to access your wallet, but not impossible.

2) Back it up
This will help to make a copy of your private keys. Remember to back up your entire wallet in several different places.

3) Use multisig
Multi-signature addresses allow to seed an address partially with a public key for many parties. This means that the signatures of all these parties is required to spend some of the bitcoins.
alamanjani
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January 18, 2015, 02:19:46 AM
 #47

There are many wallets available
but MultiBit is a great light-weight wallet perfect for casual shoppers Smiley

I like Electrum. When installing it, you get some words to write down. Say you are doing this on Windows.
Then you later install Electrum wallet on say Linux (or Android), you choose to restore it, use the same words you wrote down when you installed it on Windows, and you will have THE SAME wallet now also on Linux, Android.... I just love it!

madmax6688
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January 18, 2015, 09:55:44 AM
 #48

There are many wallets available
but MultiBit is a great light-weight wallet perfect for casual shoppers Smiley

I like Electrum. When installing it, you get some words to write down. Say you are doing this on Windows.
Then you later install Electrum wallet on say Linux (or Android), you choose to restore it, use the same words you wrote down when you installed it on Windows, and you will have THE SAME wallet now also on Linux, Android.... I just love it!

Multibit works in a similar way, you can also encrypt the wallet if you require.
Rishblitz
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January 18, 2015, 05:07:54 PM
 #49

they work together as a client.
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January 18, 2015, 06:21:30 PM
 #50

Multibit.

Computer wallets are always better than online wallets
michinzx
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January 19, 2015, 01:09:26 AM
 #51

Multibit.

Computer wallets are always better than online wallets

depends on how good someone's opsec is, but in general computer wallets are more secure and offer more control.
dlc1962
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January 19, 2015, 08:37:12 AM
 #52

Multibit.

Computer wallets are always better than online wallets

depends on how good someone's opsec is, but in general computer wallets are more secure and offer more control.

If I need some help setting up electrum would someone be willing to offer their help?
pooya87
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January 19, 2015, 04:08:07 PM
 #53

Multibit.

Computer wallets are always better than online wallets

depends on how good someone's opsec is, but in general computer wallets are more secure and offer more control.

If I need some help setting up electrum would someone be willing to offer their help?
you need more help than what is provided at the official website here: https://electrum.org/tutorials.html

if you need any help ask in this section, or in here: https://bitcointalk.org/index.php?board=98.0

sed
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January 19, 2015, 05:30:07 PM
 #54

both blockchain and multibit have their pros and cons, but considering blockchain's recent hack might want to consider other options as well. If you dont want to download a 30 GB blockchain and feel confident in keeping your wallet secure on your computer multibit is a perfect choice, so is electrum.

Was there really a hack on blockchain.info?  Do you have a reference?
Salmon1989
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January 19, 2015, 06:09:18 PM
 #55

both blockchain and multibit have their pros and cons, but considering blockchain's recent hack might want to consider other options as well. If you dont want to download a 30 GB blockchain and feel confident in keeping your wallet secure on your computer multibit is a perfect choice, so is electrum.

Was there really a hack on blockchain.info?  Do you have a reference?

Not really a hack, but a terrible bug in their code. You can check http://blog.blockchain.com/2014/12/08/blockchain-info-security-disclosure/ and https://bitcointalk.org/index.php?topic=581411.msg9774894#msg9774894 for the details.

Salmon1989
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January 19, 2015, 06:18:26 PM
 #56

There are many wallets available
but MultiBit is a great light-weight wallet perfect for casual shoppers Smiley

I like Electrum. When installing it, you get some words to write down. Say you are doing this on Windows.
Then you later install Electrum wallet on say Linux (or Android), you choose to restore it, use the same words you wrote down when you installed it on Windows, and you will have THE SAME wallet now also on Linux, Android.... I just love it!

Multibit works in a similar way, you can also encrypt the wallet if you require.

The major difference between Electrum and Multibit is that Electrum is a deterministic wallet and Multibit is not.
Exactly as alamanjani illustrated, it is very easy to manage one Electrum wallet across a few different machine. But for Multibit, you will generate a different address every time even if you start from the same wallet file.

sed
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January 20, 2015, 03:47:04 AM
 #57

both blockchain and multibit have their pros and cons, but considering blockchain's recent hack might want to consider other options as well. If you dont want to download a 30 GB blockchain and feel confident in keeping your wallet secure on your computer multibit is a perfect choice, so is electrum.

Was there really a hack on blockchain.info?  Do you have a reference?

Not really a hack, but a terrible bug in their code. You can check http://blog.blockchain.com/2014/12/08/blockchain-info-security-disclosure/ and https://bitcointalk.org/index.php?topic=581411.msg9774894#msg9774894 for the details.

Thanks for the links, reading these now...

I'm always intersted in btc security when it comes to the most popular websites.  blockchain.info is one of the longest running web wallet services not to have a major incident (or was before this, anyway).
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