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Topic: Is bitcoin safe? (Read 7350 times)

hero member
Activity: 616
Merit: 500
Firstbits.com/1fg4i :)
February 20, 2011, 11:07:53 AM
#24
I was curious how long the roundtrip was gonna be to send money to myself, but i forgot about the transaction fee setting, someone out there got 0.01BTC that i didn't meant to send.
legendary
Activity: 2940
Merit: 1090
February 05, 2011, 10:36:24 PM
#23
You forgot to include "yes: I bought USD". Smiley

-MarkM- (All your USD is how much bitcoin)
legendary
Activity: 980
Merit: 1014
February 05, 2011, 09:33:37 PM
#22
Who lost money to mybitcoin.com, and how much?

Joke vote?

It's quite possible that you forgot your password and thus the account become irretrievable.
hero member
Activity: 726
Merit: 500
February 05, 2011, 09:32:33 PM
#21
Who lost money to mybitcoin.com, and how much?
member
Activity: 109
Merit: 10
February 05, 2011, 06:03:23 AM
#20
Good plan or bad plan: Back up your wallet.dat on a USB thumb drive, hide this somewhere no one will look.

Not practical, as you have to backup the wallet after every transaction.

You could split the BTC across several wallets (probably a good idea), and have a "savings wallet" that you only occasionally transfer money to. Might be practical enough to hide that one on a USB drive.

Personally I find USB drives much too easy to lose.

Keypool, every 100 will do.
legendary
Activity: 1372
Merit: 1007
1davout
February 05, 2011, 05:51:08 AM
#19
Not practical, as you have to backup the wallet after every transaction.
No
newbie
Activity: 47
Merit: 0
February 05, 2011, 05:31:51 AM
#18
Good plan or bad plan: Back up your wallet.dat on a USB thumb drive, hide this somewhere no one will look.

Not practical, as you have to backup the wallet after every transaction.

You could split the BTC across several wallets (probably a good idea), and have a "savings wallet" that you only occasionally transfer money to. Might be practical enough to hide that one on a USB drive.

Personally I find USB drives much too easy to lose.
Hal
vip
Activity: 314
Merit: 3853
February 04, 2011, 02:59:32 PM
#17
You could tear your banknotes into 5 pieces and hide them separately. As long as you can recover at least 3 pieces you should be able to exchange them for fresh bills.
legendary
Activity: 980
Merit: 1014
February 04, 2011, 01:39:59 PM
#16
I photocopy my FRN and keep them in multiple places. How could you be safe if they had to be in just one place?

Photocopy? O_o
member
Activity: 109
Merit: 10
February 04, 2011, 01:38:29 PM
#15
As much as safe as printed banknotes.
If you lose banknotes, you don't lose all of them at once.

If you lose your wallet, you lose all money that is inside it.
Same for Bitcoin, it's always clever to have multiple wallets.

I photocopy my FRN and keep them in multiple places. How could you be safe if they had to be in just one place?
donator
Activity: 826
Merit: 1039
February 04, 2011, 01:17:05 PM
#14
Same for Bitcoin, it's always clever to have multiple wallets.
Yes. And it's easy to have multiple wallets for paper money, and it's cumbersome and error-prone to have multiple wallets for bitcoin.
hero member
Activity: 675
Merit: 502
February 04, 2011, 12:48:31 PM
#13
Good plan or bad plan: Back up your wallet.dat on a USB thumb drive, hide this somewhere no one will look.
legendary
Activity: 1099
Merit: 1000
February 04, 2011, 12:20:15 PM
#12
As much as safe as printed banknotes.
If you lose banknotes, you don't lose all of them at once.

If you lose your wallet, you lose all money that is inside it.
Same for Bitcoin, it's always clever to have multiple wallets.
legendary
Activity: 980
Merit: 1014
February 04, 2011, 11:56:59 AM
#11
But normal users don't know how to encrypt and backup their wallet.dat!
legendary
Activity: 1288
Merit: 1076
February 04, 2011, 11:52:02 AM
#10
The "No, never" option should really say "Not yet".

corrected.
LZ
legendary
Activity: 1722
Merit: 1072
P2P Cryptocurrency
February 04, 2011, 11:43:32 AM
#9
Not yet! Cheesy
donator
Activity: 826
Merit: 1039
February 04, 2011, 11:30:48 AM
#8
The "No, never" option should really say "Not yet".
legendary
Activity: 1441
Merit: 1000
Live and enjoy experiments
February 04, 2011, 11:25:42 AM
#7
I voted "No"
Don't write this.  Some people might be silly enough to think you're serious, and we'll have to explain them again.  Wink

Seriously, I admire you honesty but "safe" is always a relative term. I think currently it's safe enough to be useful, especially if the user is careful and knows how to do wallet file safekeeping.

To me better handling of the wallet file (e.g. automated encryption and online backups) is an area of improvement.

EDIT: sorry, got confused. the title of the thread is "is bitcoin safe" but the poll is "have you lost bitcoins", gotcha.
sr. member
Activity: 406
Merit: 256
February 04, 2011, 11:21:54 AM
#6
It was a long time ago, back when bitcoins were worth maybe .003 cents each  Grin

I probably don't even have the hard drive I was using before.
legendary
Activity: 1288
Merit: 1076
February 04, 2011, 11:18:14 AM
#5
I lost some when I reformatted and didn't have a backup. But back then they weren't worth much so I didn't care, now I'm kicking myself for doing so  Cry

Well, you didn't really "lost" them.  You destroyed them on purpose, because you didn't value them much.

It may be not to late to recover it, though.  Check out "recover lost data" on Google.

In some other thread a guy formated his disk just as you did, and yet he managed to recover his wallet.
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