Topic: Anonymous and Secure Bitcoin Wallet (Read 1580 times)

Could someone please confirm whether or not downloading the full chain would be required to import a private key into Multibit?


Could you (or someone else) elaborate on this please? From my understanding what happens when I spend 10 out 100 BTC from wallet A, the remaining 90 BTC don't stay in wallet A. The client automatically creates wallet B and sends the 90 BTC there; as a result if the client is deleted withough wallet B being backed up, the funds are lost, right?

It seems that to counteract that, all I would need to do is create paper wallet C, and transfer the 90 BTC there before deleting the client. This way I don't need to bother with any backup, and the 90 BTC remain safe and offline until I need them. Do I understand this correctly?

You have to trust the code from bitaddress.org.

When you import the private key into Multibit, it could take a while. I'm not that familiar with light clients, but it may require downloading and parsing the full chain.

Don't forget the change. Let me give an example. Say you backup the private key for address A, you transfer 100 BTC to address A, you import the private key, you spend 10 BTC which causes the 90 BTC change to be sent to a new address B, and then delete the client on the USB stick. If you were using bitcoin-qt, you would have lost the 90 BTC. Again, I don't know what Multibit does.


Yes and yes.

Hi. I’m pretty new to bitcoins and I need some advice. My goal is to create a completely anonymous, reasonably secure bitcoin wallet. My plan is this:

1. Download the html page for bitaddress.org through Tor and transfer it to an encrypted offline computer using a USB stick.
2. Generate paper wallets using that page at the offline computer.
3. Send bitcoins through bitcoinfog to the public addresses of those wallets.
4. When I decide to spend the bitcoins, download Multibit through Tor and configure it to run through Tor. Then transfer the private key of whatever wallet I want to use from the offline computer using a USB stick and import it into Multibit.

To the best of my understanding this will allow me to have a completely anonymous and secure storage of bitcoins, without having to download Armory and the whole chain. So long as no one has physical access to my offline computer, the only bitcoins that I could possibly lose are those in whatever wallet I import into Multibit in the brief window before I send them out.
Does anyone see any problems with this plan or why it might not work?

Two specific questions that I have are:
1. If I generate a bitcoin paper wallet at an offline computer, I don’t need to take it online in any way until I want to withdraw the bitcoins, right? I can just send the bitcoins to the public address and they will be waiting there for me until I import the private key into a bitcoin client?
2. I read that configuring Multibit to work anonymously through Tor is as easy as pointing it to the Tor proxy. Is that true? Any security issues involved?