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Topic: Is it really safe to use Electrum? - page 2. (Read 3070 times)

legendary
Activity: 910
Merit: 1000
March 19, 2017, 12:18:31 PM
#9
How i can be sure that private keys not stored on centralized servers?

In addition to what the user above said, the servers that Electrum connects to are not made by the developer of the wallet (ThomasV), they are made by people from the bitcoin community so It wouldn't make sense If the developer will make the private keys sent to somebody else, those servers only know your addresses and nothing else.

When users enters private key it must to be send to bitcoin blockchain servers in encrypted format, how i can be sure that no one can see them, use packet sniffing, etc..?

Of course the keys you entered will be encrypted, that's a protocol. But let's be practical here, when it comes to online transactions many eyes are lurking and handling this is the job of Electrum's developer. We cannot deny that at some point a hacker might have unlocked a user's private key by decrypting. However, this is not a common scenario. Electrum may be safe for now, but i advice you to take precautions just to be safe. And if you are having doubts regarding Electrum's safety, you can always use hardware wallets. I think they are more secured.

I think it's safer to use Bitcoin core wallet because it connects directly to nodes.
Electrum servers are centralized.

What do you think?

I think it is safe to use Electrum. In this forum is the people's favorite regarding desktop wallets. Electrum does not give out your private keys to the servers. Electrum is as safe to use as your PC is. Nothing to worry for example if you format your PC and install Linux into it. Soon after you install Electrum, 99.99% of the cases you will be safe.
newbie
Activity: 40
Merit: 0
March 19, 2017, 12:10:55 PM
#8
How i can be sure that private keys not stored on centralized servers?

In addition to what the user above said, the servers that Electrum connects to are not made by the developer of the wallet (ThomasV), they are made by people from the bitcoin community so It wouldn't make sense If the developer will make the private keys sent to somebody else, those servers only know your addresses and nothing else.

When users enters private key it must to be send to bitcoin blockchain servers in encrypted format, how i can be sure that no one can see them, use packet sniffing, etc..?

Of course the keys you entered will be encrypted, that's a protocol. But let's be practical here, when it comes to online transactions many eyes are lurking and handling this is the job of Electrum's developer. We cannot deny that at some point a hacker might have unlocked a user's private key by decrypting. However, this is not a common scenario. Electrum may be safe for now, but i advice you to take precautions just to be safe. And if you are having doubts regarding Electrum's safety, you can always use hardware wallets. I think they are more secured.

I think it's safer to use Bitcoin core wallet because it connects directly to nodes.
Electrum servers are centralized.

What do you think?
sr. member
Activity: 490
Merit: 256
March 19, 2017, 12:07:44 PM
#7
How i can be sure that private keys not stored on centralized servers?

In addition to what the user above said, the servers that Electrum connects to are not made by the developer of the wallet (ThomasV), they are made by people from the bitcoin community so It wouldn't make sense If the developer will make the private keys sent to somebody else, those servers only know your addresses and nothing else.

When users enters private key it must to be send to bitcoin blockchain servers in encrypted format, how i can be sure that no one can see them, use packet sniffing, etc..?

Of course the keys you entered will be encrypted, that's a protocol. But let's be practical here, when it comes to online transactions many eyes are lurking and handling this is the job of Electrum's developer. We cannot deny that at some point a hacker might have unlocked a user's private key by decrypting. However, this is not a common scenario. Electrum may be safe for now, but i advice you to take precautions just to be safe. And if you are having doubts regarding Electrum's safety, you can always use hardware wallets. I think they are more secured.
newbie
Activity: 40
Merit: 0
March 19, 2017, 11:58:44 AM
#6
- Electrum wasn't created yesterday, it has been around for a couple of years.
- it is open source so you either have to know programming (python mostly) and go through the code and compile it yourself. or trust others who have done it.
- also you can trust many other users who are using the wallet to report in case one of them lost anything because of what you assume.

When users enters private key it must to be send to bitcoin blockchain servers in encrypted format, how i can be sure no one can see them?

i think you are having trouble with the basics of bitcoin.
what you send to the "blockchain servers" which is called a node is your public key and that is safe because there is no way of finding private key from public key.

It can be used for 100 years... I want know myself how private keys transfered? Do they transfered in ecnrypted format? Do no one can intercept while private keys sending to servers?
legendary
Activity: 2128
Merit: 1293
There is trouble abrewing
March 19, 2017, 11:53:31 AM
#5
- Electrum wasn't created yesterday, it has been around for a couple of years.
- it is open source so you either have to know programming (python mostly) and go through the code and compile it yourself. or trust others who have done it.
- also you can trust many other users who are using the wallet to report in case one of them lost anything because of what you assume.

When users enters private key it must to be send to bitcoin blockchain servers in encrypted format, how i can be sure no one can see them?

i think you are having trouble with the basics of bitcoin.
what you send to the "blockchain servers" which is called a node is your public key and that is safe because there is no way of finding private key from public key.
newbie
Activity: 40
Merit: 0
March 19, 2017, 11:53:28 AM
#4
How i can be sure that private keys not stored on centralized servers?

In addition to what the user above said, the servers that Electrum connects to are not made by the developer of the wallet (ThomasV), they are made by people from the bitcoin community so It wouldn't make sense If the developer will make the private keys sent to somebody else, those servers only know your addresses and nothing else.

When users enters private key it must to be send to bitcoin blockchain servers in encrypted format, how i can be sure that no one can see them, use packet sniffing, etc..?
staff
Activity: 3500
Merit: 6152
March 19, 2017, 11:46:25 AM
#3
How i can be sure that private keys not stored on centralized servers?

In addition to what the user above said, the servers that Electrum connects to are not made by the developer of the wallet (ThomasV), they are made by people from the bitcoin community so It wouldn't make sense If the developer will make the private keys sent to somebody else, those servers only know your addresses and nothing else.
sr. member
Activity: 294
Merit: 250
March 19, 2017, 11:41:58 AM
#2
Electrum is open source, that means you (or anyone else) can check the source code and see exactly how the program works. Therefore, if the private keys were to be stored on centralized servers, someone would likely take notice. So it should be safe. But if you really don't trust it for whatever reason, you could always stick to Bitcoin Core.
newbie
Activity: 40
Merit: 0
March 19, 2017, 11:34:44 AM
#1
How i can be sure that private keys not stored on centralized servers?
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