does the wallet have to stay be unlocked to stake because I checked the box that says for staking only and it still lets me send coins without a password prompt
As the wallet itself states - "it offers no real protection". Personally I wouldn't risk staking until this is sorted out - too many people have complained about being hacked and having coins stolen - an unlocked wallet is not going to do any of us any favors, especially those who bought in when the price was 10x lower and therefore have considerably more to loose!
Umm, who complained about having coins stolen, I don't remember seeing any of that. Also, everyone has the same amount to lose, don't matter if they bought in 10 seconds ago or at 10K. This is real money here.. not some magic fiat based currency.
The two major complaints were from members of the community who had coins stolen from their wallets some weeks ago now. There was a fellow asking for donations a while back who had over 20,000 Cloak stolen and another who made it known on the IRC. It's all there in the backlogs but that's not the point really - security is the point and an unlocked wallet is a security risk. If people want to stake in an unlocked wallet they should be aware of the risks that come with it.
No, I totally agree, security must come first. I just did not read about any thefts. I'll have to try and find those posts now.
Absolutely - I myself had a Litecoin wallet skimmed of close to 500 LTC back in August. Wasn't as big of a deal then as it was when the coin hit $40 USD lol Just wanted all of us who invested low to remember that although we might only have paid a few hundred dollars for our Cloak - we need to remember that the potential value of these things is a hell of a lot more and should treat it accordingly. Lock the wallet, sit back and enjoy watching your coins go up in value over the coming months!
Keep in mind the network needs staking to facilitate smooth transactions and secure the block chain. So if everyone locks their wallets then sit back and watch a 51% attack or the dreaded forks start occuring again like early days.
Secure PC = secure wallet.
Have to interject here, any PC that is online is vulnerable to theft of coins from wallets by malware that might get past your defenses. Locking the wallet with a strong password does not provide complete security ... coins have been stolen from password protected wallets. You can prevent theft by moving the wallet.dat to an offline computer or store in an encrypted container until needed. Bitcoin and litecoin have wallets that support cold storage of private keys, other coins do not (yet.)
