Need some clarification on wallet loss/theft, backups, and restoration

0v3rki11

newbie

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Quote from: SomeoneWeird on June 25, 2011, 09:02:18 PM

Uhh, yes. But make sure that wallets backed up too

That wallet is always going to be actively mining 24x7, it's a dedicated machine so backing it up would be a little above and beyond redundancy. That's why I'm going to just transfer the balance from the mining machine(s) to the BTC address that will be on the live disc since it's (more) secure.

thinkweis

newbie

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You need a secure savings account for large chunks of bitcoins and use the active one on your server for day to day transactions to minimize the amount you lose if you eventually get your wallet stolen.

http://startbitcoin.com/how-to-create-a-secure-bitcoin-wallet/

SomeoneWeird

hero member

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Quote from: 0v3rki11 on June 25, 2011, 10:31:20 AM

So, a more linear solution would be to just use a livedisc or USB drive with another BitCoin install and transfer my Bitcoins to that offline wallet and then start the miners back up on the dedicated machines. That about right?

Uhh, yes. But make sure that wallets backed up too

0v3rki11

newbie

Activity: 16

Merit: 0

So, a more linear solution would be to just use a livedisc or USB drive with another BitCoin install and transfer my Bitcoins to that offline wallet and then start the miners back up on the dedicated machines. That about right?

SomeoneWeird

hero member

Activity: 700

Merit: 500

Quote from: 0v3rki11 on June 25, 2011, 07:27:36 AM

Been digging through the forums and the wiki but havent' been able to find any specific answer on the subject.

I'm running a couple of bitcoin miners, one is a dedicated server. The hard drive on the server is encrypted, and as well I make offline backups of my wallet (again, encrypted). The question I have is say someone hacks into my server and steals my wallet, however I have a backup that I made a day or two before the wallet was stolen.

What happens if I restore my wallet file even though the more current wallet file has been stolen? Will I retain the balance I had at the time of the back up or will the newer file supercede the odler file due to the newer block or hash signatures?

If the wallet on the server has private keys that weren't in your backup, then yes.

When you backup, just run the client, download the blockchain, close the client, replace wallet.dat, and immediately transfer all your coins to new addresses.

0v3rki11

newbie

Activity: 16

Merit: 0

Been digging through the forums and the wiki but havent' been able to find any specific answer on the subject.

I'm running a couple of bitcoin miners, one is a dedicated server. The hard drive on the server is encrypted, and as well I make offline backups of my wallet (again, encrypted). The question I have is say someone hacks into my server and steals my wallet, however I have a backup that I made a day or two before the wallet was stolen.

What happens if I restore my wallet file even though the more current wallet file has been stolen? Will I retain the balance I had at the time of the back up or will the newer file supercede the odler file due to the newer block or hash signatures?

Topic: Need some clarification on wallet loss/theft, backups, and restoration (Read 1219 times)