Author

Topic: Backup private key or wallet.dat? Bitcoin-qt (Read 2582 times)

legendary
Activity: 2506
Merit: 1010
March 13, 2013, 08:35:52 PM
#3
What is a better option, to extract the private keys and just save them and import them to a future client when needed or to save the entire wallet.dat?

If a wallet has multiple imported private keys, how many private keys will be exported.

IfI import the private keys to the new client/wallet will the old created addresses show on the new client once it has sync?

Different client have different backup needs and approached.

With Bitcoin-Qt, the wallet.dat contains every address plus a key pool for the next 100 unused addresses.    So you can back that up and at some point in the future restore that file if needed.

Other clients might use a deterministic wallet.  So with those only the master, spending of all BItcoin addresses created from that master is enabled.

A single address can exist in multiple wallets, that's not a problem.   What is a problem is if you try to spend from using a Bitcoin address that exists in multiple wallets simultaneously.  That's when you can gunk up your Bitcoin-Qt wallet.

But importing a private key from an old wallet.dat, and then later having recover that old wallet.dat is not a problem.   The funds will appear as being spendable in both.  Just remember to only have one running at a time.  (And don't spend until the client has sync).
legendary
Activity: 3416
Merit: 1912
The Concierge of Crypto
Do both. The wallet.dat file can probably be read by future versions, or there will be tools to extract this data.

The individual private keys can also be stored separately or even printed on paper.

The paper backup can be read by human eyes or by computer OCR, and will last 100 years unless burned in a fire or drowned in water, or physically destroyed.
legendary
Activity: 1018
Merit: 1000
What is a better option, to extract the private keys and just save them and import them to a future client when needed or to save the entire wallet.dat?

If a wallet has multiple imported private keys, how many private keys will be exported.

IfI import the private keys to the new client/wallet will the old created addresses show on the new client once it has sync?
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