Silk Road forums
Discussion => Security => Topic started by: BigBill6778 on June 02, 2012, 10:49 pm
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OK i have a bitcoin wallet but I am starting to feel unsecure as they are updating alot lately I don't no for sure if this is common but I would like to find a very secure wallet for my coins any help would be great
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OK i have a bitcoin wallet but I am starting to feel unsecure as they are updating alot lately I don't no for sure if this is common but I would like to find a very secure wallet for my coins any help would be great
Hi BigBill,
When you say secure what do you mean? If you have a wallet installed on your computer it needs to update regularly to process recent transactions throughout the block chain. An online wallet does the same thing albeit it doesn't actually say it's processing as it's located on a server.
In terms of security for your actual Bitcoins, using a wallet with an encrypted password and backing it up in a safe place is your best bet. Alternatively for long term savings you can use a "brain" wallet which is extremely easy to set up. I've posted in the Security thread on how to do this.
All the best,
V.
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OK thanks Vlad I will check it out and see whats up with the use of it see if it is easy to understand
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OK thanks Vlad I will check it out and see whats up with the use of it see if it is easy to understand
If you do decide to use a software wallet from bitcoin.org I'd suggest you download the ZIP version if you're on windows or the TAR version if you're on Linux and then extract it to somewhere secure e.g an encrypted USB stick.
It's very important both to encrypt the wallet (Settings > Encrypt wallet) and to back up the wallet.dat file regularly. Its location will vary depending on what operating system you're using but you can find the info you need at : https://en.bitcoin.it/wiki/Securing_your_wallet#Introduction
As I mentioned the wallet software will update itself regularly as it syncs with the block chain - this is important as it allows the software to show if you've received any coins as well as sent any via your wallet.
Hope this helps,
V.
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In windows the wallet is stored in %APPDATA%\Bitcoin. In mac I think in ~/Library/Application Support/Bitcoin. In linux I think in ~/.bitcoin or ~/.Bitcoin. So even if the applcation is on the usb disk the wallet data is stored in hidden data folders default in system drive. In windows %APPDATA% is like C:\Users\username\Application Data\Roaming and in mac ~ is /Users/username and in linux ~ is /home/username. In any case you just type the variable like original Start > Run %APPDATA%\Bitcoin or Go > Folder, etc.
Maybe I missing something but why put bitcoin exe in encrypted disk?
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In windows the wallet is stored in %APPDATA%\Bitcoin. In mac I think in ~/Library/Application Support/Bitcoin. In linux I think in ~/.bitcoin or ~/.Bitcoin. So even if the applcation is on the usb disk the wallet data is stored in hidden data folders default in system drive. In windows %APPDATA% is like C:\Users\username\Application Data\Roaming and in mac ~ is /Users/username and in linux ~ is /home/username. In any case you just type the variable like original Start > Run %APPDATA%\Bitcoin or Go > Folder, etc.
Maybe I missing something but why put bitcoin exe in encrypted disk?
Quite right MrVidalia, I was getting a little ahead of myself. It is true that your wallet.dat file is stored locally on your computer. It is possible to alter this through using what is called a symbolic link. If you use Linux provided your Home Directory is encrypted I don't think you need to be too worried if your laptop or computer is seized but do make regular back ups.
V.