Topic: Question about blockchain.info (Read 827 times)

well, why dont you make like a crazy password for you blockchain and then note it and lock it. Then you'd never forget it. thats just my idea

Instead of running bitcoin-qt with no command line options, include the -datadir command line option to specify the location where bitcoin-qt should find the database and wallet.

See the list of command line options here:
https://en.bitcoin.it/wiki/Running_Bitcoin#Command-line_arguments

One other quick question, how would I download Bitcoin.QT and then install the block chain and information on an external hard drive? As far as external hard drives go, I have plenty of space and do regular backups.

Thanks all good points. I'm going to download multibit right now. I always use long nonrepeating random number and letter passwords. I use a Mac and make sure I never download anything. I never open attachments, and I always used two factor authentication even on my backup emails.

My main concern with Bitcoin.qt is that I just don't have enough space to download the entire block chain.

Sounds like I should give multibit a try, thanks again.

If you have the resources, technical ability, and you don't need access to the bitcoins on a daily basis?  Yes.


Bloated implies larger than necessary, but yes if you wait for it to download the blockchain it is quite large.


My father managed to install MultiBit and create a paper backup of his own private keys.  Additionally, for the average person storing a small amount that they want to use on a regular basis and won't be devastated if they lose, any of the widely accepted wallets are fine.  It helps if you can manage to keep your computer free of malware.


That is a healthy state of mind.

Probably, but your wallet will only be as safe as you are. Why not just keep the wallet on USBs and CDs and leave dropbox?

You could also just download a wallet that doesn't download the entire blockchain.

Excellent answer. But wouldn't I be better off downloading the Bitcoin.qt wallet, making sure my computer is secure, and then backing up that to Dropbox or USB?

Wouldn't that be even better than Blockchain.info?

The only problem is that I have a 128SSD and that Bitcoin.qt app is a bloated pig.

I'm a techy and this shit is confusing. I'd love to see someone like my mom get into Bitcoins. That said, I don't trust Coinbase or any other exchange for long term storage.

Possibly.  It depends on several conditions.  Do you have a strong password on the wallet? Can someone access your Dropbox? Are you using 2-factor authorization on the blockchain.info wallet? Can someone access your 2nd-factor device? Do you use public computers to access your blockchain.info wallet?  Do you have any virus, trojan, or other malware running on your computer when you access your blockchain.info wallet?


With Coinbase, you are trusting a company full of unknown people to all be reliable enough and trustworthy enough to honor their promise that the bitcoins that you give to them will be sent on your behalf wherever you want them to whenever you want them to.  There are many people right now who trusted MtGox with the same promise.  It is up to you to decide if you can continue to rely on others to honor such promises.  You have to trust coinbase to honor their promise even if they are hacked, if any of their employees engage in fraud, and if a government agency sends them a court order to freeze accounts.

With blockchain (or MultiBit, or Electrum, or any other wallet), you are trusting yourself to maintain a proper backup schedule, to keep your systems clean of malware, to choose sufficient passwords, and to remember those passwords.

In the end, you have to decide who you trust more, yourself or them.

Until these third-party accounts demonstrate significant transparency, a regular schedule of financial and security audits, and supply insured deposits backed by a a well known and reliable global insurance underwriter, I trust myself more.

If I put Bitcoins into my blockchain.info wallet. Then I backup that wallet into Dropbox. Can someone still steal my Bitcoins?

I'm trying to understand why I should transfer my Bitcoins from Coinbase into Blockchain. Blockchain.info kind of scares me because if for some reason I loose my password, I loose my Bitcoins.