bitcoin.org/en/secure-your-wallet = out of date?

wumpus

hero member

Activity: 812

Merit: 1022

No Maps for These Territories

Yes, this is still a concern.

There is wallet software that uses "deterministic wallets" (BIP 0032) that use keys that are derived from a single seed. For example, Armory. Those you only need to back up once.

But for example Bitcoin-Qt (and Multibit AFAIK) does not, so you need to back up regularly if you use the wallet actively as new keys are added to the wallet all the time.

Quote from: bitcoinrocks on December 09, 2013, 12:00:27 PM

bitcoin.org/en/secure-your-wallet says:
By the way, with the QT clients, if I've encrypted my wallet with a password and I "Backup Wallet", is the backed up wallet encrypted also?

Yes. It is encrypted with the same passphrase.

bitcoinrocks

legendary

Activity: 1372

Merit: 1000

Should I just not worry about this?

bitcoinrocks

legendary

Activity: 1372

Merit: 1000

bitcoin.org/en/secure-your-wallet says:

Quote

Backup your entire wallet

Some wallets use many hidden private keys internally. If you only have a backup of the private keys for your visible Bitcoin addresses, you might not be able to recover a great part of your funds with your backup.

Quote

Make regular backups

You need to backup your wallet on a regular basis to make sure that all recent Bitcoin change addresses and all new Bitcoin addresses you created are included in your backup. However, all applications will be soon using wallets that only need to be backed up once.

Are either of these a concern with the latest versions of Multibit or the QT clients for the main alts?

By the way, with the QT clients, if I've encrypted my wallet with a password and I "Backup Wallet", is the backed up wallet encrypted also?

Topic: bitcoin.org/en/secure-your-wallet = out of date? (Read 564 times)