Bitcoin Bank - page 10. | Bitcointalksearch.org

theymos

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Quote from: Sultan on January 14, 2011, 07:25:32 PM

I use Windows... i know, forgive me, I am evil Sad

You can use TrueCrypt. TrueCrypt's method is even better than the method that Linux typically uses because the boot loader fits onto track 0, which makes installation more straightforward than creating an additional boot partition. TrueCrypt also supports hidden volumes (which you probably don't need, though they are useful in some cases).

http://www.truecrypt.org/docs/?s=system-encryption

Sultan

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Quote from: ElectricGoat on January 14, 2011, 01:51:46 PM

The bitcoin client doesn't do it yet, but your operating system can do it. It depends on what you're using... I don't know about Windows, but my GNU/Linux offered to encrypt my home directory when I installed it.

I use Windows... i know, forgive me, I am evil Sad

ElectricGoat

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The bitcoin client doesn't do it yet, but your operating system can do it. It depends on what you're using... I don't know about Windows, but my GNU/Linux offered to encrypt my home directory when I installed it.

Sultan

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Quote from: ElectricGoat on January 14, 2011, 01:09:19 PM

It can be done automatically in such a way that the file is never stored in clear form on your disk. It is deciphered on the fly when the bitcoin client reads it, and the deciphered data is only stored in RAM for a short while.

How do I do that? Or does it do that currently?

caveden

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Quote from: Sultan on January 14, 2011, 12:57:32 PM

So you can only receive cash when you unencrypt your wallet?

You don't need to be online in order to receive a payment. The blockchain logs X bitcoins to address A, and that's it. To send them, then you need to sign your transaction with your private key.

ElectricGoat

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It can be done automatically in such a way that the file is never stored in clear form on your disk. It is deciphered on the fly when the bitcoin client reads it, and the deciphered data is only stored in RAM for a short while.

Sultan

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Quote from: jgarzik on January 13, 2011, 07:55:23 PM

Quote from: Sultan on January 13, 2011, 07:39:14 PM

Quote from: jgarzik on January 13, 2011, 03:00:20 PM

Quote from: Sultan on January 13, 2011, 02:49:11 PM

How does one use encryption to secure wallet and use at the same time?

Software exists that will keep your bitcoin drive / filesystem encrypted always. The only place it is not encrypted is RAM.

So I take it you use this software in MyBitCoin?

MyBitcoin is a website. Presumably they secure their wallet with strong encryption, but I don't know.

There are two ways to use bitcoin: (1) through a website, or (2) using the bitcoin software.

When using the bitcoin software, you should employ encryption.

If one encrypts their file, then the BitCoin client will not be able to read them, right? So you can only receive cash when you unencrypt your wallet?

jgarzik

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Quote from: Sultan on January 13, 2011, 07:39:14 PM

Quote from: jgarzik on January 13, 2011, 03:00:20 PM

Quote from: Sultan on January 13, 2011, 02:49:11 PM

How does one use encryption to secure wallet and use at the same time?

Software exists that will keep your bitcoin drive / filesystem encrypted always. The only place it is not encrypted is RAM.

So I take it you use this software in MyBitCoin?

MyBitcoin is a website. Presumably they secure their wallet with strong encryption, but I don't know.

There are two ways to use bitcoin: (1) through a website, or (2) using the bitcoin software.

When using the bitcoin software, you should employ encryption.

Sultan

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Activity: 214

Merit: 100

Quote from: jgarzik on January 13, 2011, 03:00:20 PM

Quote from: Sultan on January 13, 2011, 02:49:11 PM

How does one use encryption to secure wallet and use at the same time?

Software exists that will keep your bitcoin drive / filesystem encrypted always. The only place it is not encrypted is RAM.

So I take it you use this software in MyBitCoin?

jgarzik

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Activity: 1596

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Quote from: Sultan on January 13, 2011, 02:49:11 PM

How does one use encryption to secure wallet and use at the same time?

Software exists that will keep your bitcoin drive / filesystem encrypted always. The only place it is not encrypted is RAM.

ElectricGoat

newbie

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With an encrypted file system, your data is deciphered on the fly when you use it (after you entered your account password), but if someone steals your computer, he cannot simply plug the hard drive into another computer to read the data, because without your password, they are encrypted.

Sultan

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jgarzik.

How does one use encryption to secure wallet and use at the same time?

is this impossible.

I am worried because when I remove my wallet.dat file and then encrypt it the BitCoin client won't be able to read it. If I move the wallet then when BitCoin runs, it will show me as 0 balance, so what happen when people send me money? Where does this money go because it isn't in my other encrypted wallet, right?

jgarzik

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Quote from: wobber on January 13, 2011, 02:18:52 PM

So this means that there is just 1 wallet.dat and all the guys that have bitcoins in there are just on somekind of list that sais how much each has?

Correct. The website's database store the balances for each user.

Quote

What a about a bitcoin bank? If it's purpose would be to secure people's wallets that means it should act like a bank values box. PGP encrypted and all. Or it would be better to have a single wallet.dat and a "list" that sais how much every person has?

Encrypted data storage already exists in several forms; you should be using one or more of those, if you are running bitcoin.

wobber

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So this means that there is just 1 wallet.dat and all the guys that have bitcoins in there are just on somekind of list that sais how much each has?

What a about a bitcoin bank? If it's purpose would be to secure people's wallets that means it should act like a bank values box. PGP encrypted and all. Or it would be better to have a single wallet.dat and a "list" that sais how much every person has?

Also, there must be a fee. 1% per year, for storage for the bitcoins. Payable on the first day. But how do you stop people from adding 1 BTC and then 10,000 BTC so they would pay just 1% of 1BTC? Taxing them for both operations is kinda unethical.

jgarzik

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Quote from: Sultan on January 13, 2011, 01:36:08 PM

I'm not sure how MyBitCoin's infrastructure works.

I mean if the BitCoins were on a database, and transactions between MyBitCoin users occured instantly and then were batch processed at the end of the day (ie. transfered into their relevant addresses) this would save processing time, and also provide insta-money.

You got it partially right.

MyBitcoin and similar websites don't batch processing and send to addresses at the end of the day; they keep all BTC internal, until one of their users sends BTC to someone who is not on mybitcoin.com.

A BTC address or transaction on mybitcoin.com is simply an accounting notation in the mybitcoin database. Transactions between two mybitcoin users never actually reach the bitcoin network.

Sultan

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I'm not sure how MyBitCoin's infrastructure works.

I mean if the BitCoins were on a database, and transactions between MyBitCoin users occured instantly and then were batch processed at the end of the day (ie. transfered into their relevant addresses) this would save processing time, and also provide insta-money.

Obviously it would be different for withdrawls etc.

It would be very much like transfering money from your HSBC bank account to your landlord who also has a HSBC account.

Unless th eprofit a bank makes is used to have a huge mega-cluster of computers to resolve the majority of transactions.

jgarzik

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Banks can offer a central authority for resolving bitcoin electronic checks.

davout

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1davout

Quote from: MoonShadow on January 12, 2011, 08:00:46 PM

Quote from: Sultan on January 12, 2011, 07:48:47 PM

Only reason for a bank would be as a safe place to store my money. And MyBitCoin.com does that for free with an easy-on-the-eye user interface that is compatible with mobile phones.

Another reason for a bank is rapid resolution of transactions.

And maybe other services we didn't think of yet

MoonShadow

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Quote from: Sultan on January 12, 2011, 07:48:47 PM

Only reason for a bank would be as a safe place to store my money. And MyBitCoin.com does that for free with an easy-on-the-eye user interface that is compatible with mobile phones.

Another reason for a bank is rapid resolution of transactions.

Sultan

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Activity: 214

Merit: 100

Only reason for a bank would be as a safe place to store my money. And MyBitCoin.com does that for free with an easy-on-the-eye user interface that is compatible with mobile phones.

Topic: Bitcoin Bank - page 10. (Read 41207 times)