Topic: How to best protect wallets - page 2. (Read 2223 times)
I think the TREZOR device will be a great security measure. I can't wait to get one when they are available to order.
So, to be clear. Wallets likely ARE being "mined", not coins which obviously can only be mined once. Reasonable passwords will hopefully negate this issue.
When I referenced mining wallets, I meant bruteforcing wallets, is this even possible? I have seen it mentioned in a few placed recently.
Thanks.
Thanks.
It's possible if your password is short, or if your attacker has an idea of what keys may be involved or in which positions. It's a pure combinatorics problem... there are calculators online that will return approximately how many years it would take a fast password guesser to guess your password by chance. These calculators give overestimates, so try to billions of years.
When I referenced mining wallets, I meant bruteforcing wallets, is this even possible? I have seen it mentioned in a few placed recently.
Thanks.
Thanks.
Thanks for the advice. So as far as is possible, following all of this would make it impossible for the wallet to be stolen or "mined"?
Again, thanks for any replies
Again, thanks for any replies
Coins cannot be mined once they exist, they're only mined once. They can be stolen by having a transaction initiated that sends the coins out of the keys you control.
If you encrypt your wallet, it will be difficult for an attacker to use the wallet without your password, even if the attacker finds the wallet, as long as the password is computationally unfeasible to crack.
To protect against your own absent mindedness, which is sort of inevitable, you should keep multiple encrypted backups of your wallet/priv keys, which is what was suggested.
To protect against your forgetting your password, its not a popular opinion but if you get your ducks in a row, you can also know the location of an unencrypted copy.
In all honesty, my security style has evolved in time and I've noticed everyones is different. It is important you know the consequences of the decisions you make and think through the possible scenarios that may arise, trying to ensure that in any case, your coins aren't gone forever. This came to mind recently for me when someone mentioned that if I were hit by a bus, where would the coins go? I haven't figured out that one yet, because my girlfriend hates bitcoin with a fiery passion, and my parents are old.
Thanks for the advice. So as far as is possible, following all of this would make it impossible for the wallet to be stolen or "mined"?
Again, thanks for any replies
Again, thanks for any replies
From what I've read online, the best thing to do is to print an offline paper wallet, and store it away physically in a safe place, encrypt the wallet, save the wallet.dat file to a backup USB drive or offline drive, and that's all I know!
I have just seen this thread here: https://bitcointalksearch.org/topic/my-wallet-got-hacked-and-the-hacker-paid-huge-transaction-fees-to-take-the-money-372118
It got me thinking, what is the best way to protect wallets? Are most compromised through a virus / keylogger and the like or are there other vectors?
Any reply is appreciated, quite new to all of this. Thanks!
It got me thinking, what is the best way to protect wallets? Are most compromised through a virus / keylogger and the like or are there other vectors?
Any reply is appreciated, quite new to all of this. Thanks!
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