Silk Road forums

Discussion => Security => Topic started by: TeamMoney on July 20, 2012, 04:13 am

Title: bitcoin safety
Post by: TeamMoney on July 20, 2012, 04:13 am

I have a good amount of bitcoins in my SR wallet and it got me wondering.

If SR was ever to go down, would my bitcoins would be gone forever? Would there be anyway to retrieve them?

If not should I just send them to a safer e wallet? Can you also recommend me good e wallets?

Thanks

Title: Re: bitcoin safety
Post by: Christy Nugs on July 20, 2012, 04:21 am

Get ur own bitcoin wallet on ur usb stick man!!
encrypt it - password protect it and take a chill pill.

oh yea - make sure ur comp is clean first...

Peace out;
Christy

Title: Re: bitcoin safety
Post by: TeamMoney on July 20, 2012, 04:34 am

haha alright. But how do I do that?

I have never used any other wallet other than the SR wallet and I dont want to lose my money.

Whats a good wallet to use and how do I put it on my usb stick?

Title: Re: bitcoin safety
Post by: TeamMoney on July 20, 2012, 04:49 am

is my wallet a good one?

Title: Re: bitcoin safety
Post by: Flyhigh on July 20, 2012, 04:55 am

in your SR account there is a place you can add an addy where SR will send your money should they crash. But you need to set up a wallet on your comp or  setup an account on a trading platform. you need to do some research bro...don't take our words for it.

Title: Re: bitcoin safety
Post by: Christy Nugs on July 20, 2012, 05:20 am

http://bitcoin.org/

that would be clearnet.
use appropriate os - operating system
and one more thing - read way more of the how to do's on this site

if u dont want it to be - pay now and read later then ---> read now and dont lose any of ur coins later.

Title: Re: bitcoin safety
Post by: Verto on July 20, 2012, 07:27 am

Decentralization is one of the major strengths of Bitcoin. Meaning you don't have to rely on banks, online wallets to store your funds. These disappear on a weekly basis along with any coins you had in them.

Agree with above: install bitcoin client from http://bitcoin.org. Or better, use linux:
sudo add-apt-repository ppa:bitcoin/bitcoin
sudo apt-get update
sudo apt-get install bitcoin-qt

Then encrypt wallet with strong passphrase.

MT
Verto

Title: Re: bitcoin safety
Post by: vlad1m1r on July 21, 2012, 07:10 pm

Quote from: Christy Nugs on July 20, 2012, 04:21 am

Get ur own bitcoin wallet on ur usb stick man!!
encrypt it - password protect it and take a chill pill.

oh yea - make sure ur comp is clean first...

Peace out;
Christy

Well said Christy!

Just a note of warning - by default your actual wallet is installed on your computer, even if your Bitcoin client is installed on a USB stick. I've set up some instructions to install a Bitcoin wallet entirely on a USB stick (You'll need one at least 4GB) :

http://dkn255hz262ypmii.onion/index.php?topic=28676

Hope this helps,

V.

Title: Re: bitcoin safety
Post by: saffron on July 21, 2012, 07:15 pm

Quote from: TeamMoney on July 20, 2012, 04:49 am

is my wallet a good one?

:D :D

Title: Re: bitcoin safety
Post by: TeamMoney on July 23, 2012, 10:32 pm

Thanks guys. a lot of good info.

I guess I have some researching to do. I was going to use MyWallet from blockchain but the one you guys metioned seems more secure.

Title: Re: bitcoin safety
Post by: TeamMoney on July 23, 2012, 10:37 pm

oh vlad1m1r. I think you sent me the wrong link. You sent me a link on how to set up PGP. Do you mind sending me the correct link?

Thanks