Questions tagged [safety]
36 questions
17
votes
4 answers
Is 12-word seed phrase safe enough?
Is 12-word seed phrase (as used by Electrum for example) safe enough for generating an offline wallet?
My understanding is this: 2048 words pool make 11 bits of entrophy per word. 12 words in seed make total 132 bits of entrophy.
Is this considered…
shx2
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17
votes
7 answers
What is the safest medium on which to store my wallet/private keys?
What is the safest medium on which to store my wallet/private keys?
I avoid eWallets like the plague.
I have my wallet on my computer at the moment with the Bitcoin passphrase encryption and I have a few backups on different harddrives/USB…
Sean Chapman
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10
votes
2 answers
How secure are various models of Bitcoin clients?
As there was some disagreement on security of various models of Bitcoin clients in comments to this answer, I'd like to address the problem.
How secure are various models of Bitcoin clients? Those would include the standard client, "lightweight…
ThePiachu
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10
votes
4 answers
How safe it is that a single San Francisco company controls the canonical location of Bitcoin code?
The single most-trusted canonical source of Bitcoin client is https://github.com/bitcoin/bitcoin
This URL is controlled by a single US company GitHub Inc., headquartered in San Francisco, United States. The US government (nor any other government)…
ria
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10
votes
5 answers
How to transfer bitcoin? No third party, no exchange, no hard wallet, no mobile wallet
I have two paper wallets and want to transfer 10 bitcoins between them. I do not want to use any other 3rd party software or hard wallet because they're created by individuals, so they can access my data if they try hard enough. And no exchanges,…
Pererva
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9
votes
1 answer
Best way to safely host a high volume online transactional wallet?
I am looking at starting a business that will send and receive a large amount Bitcoins in a semi automated manner using API's. I was wondering what is the best way to do do this in a secure way to limit my exposure to hacking? My initial thoughts…
malbec
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5
votes
1 answer
Byzantine Fault Tolerance Threshold of Bitcoin: 1/2 or 1/3? (Edited)
According to this answer: https://bitcoin.stackexchange.com/a/58908/41513 a Byzantine Fault Tolerant (BFT) consensus threshold is 1/3.
On the other hand, there is a common belief that Bitcoin network is secure till majority of mining power (i.e.…
Questioner
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4
votes
3 answers
How can I safely store and trade Bitcoin and other crypto currencies?
How can I safely store Bitcoin?
Exchanges require me to deposit to trade, is this safe? If I can't trust exchanges, what is the best way to safely store my cryptocurrency and transact it?
Raghav Sood
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4
votes
1 answer
What is the point of comparing sha256 of downloaded file with published on the same website code?
Some websites publish sha256 to check authenticity of downloaded file.
I suppose this is to protect against man-in-the-middle attack - that my file was not altered during download.
What prevents man-in-the-middle from altering web traffic and fix…
CoinsKillTheFed
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3
votes
1 answer
There is at least one totally "offline" backup of blockchain?
I know that it can be a little paranoid yet, but anyone ever did an offline backup of blockchain in case of a kind of geomagnetic storm? Imagine if all clients of the world lost the data. I know the entire world will be a mess, but the Bitcoin could…
Felipe
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3
votes
3 answers
Resources for multisignature transactions?
I am interested in using multisignature transactions to secure my company's coins and I'm wondering what tools are available right now for use with multisignature transactions? I'm especially interested in solutions that work on keys distributed…
ThePiachu
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3
votes
2 answers
Altcoin confirmations and safety - wait ~6 confirmations, or ~1 hour?
The general consensus in the Bitcoin network is to wait for 6 confirmations or 1 hour on a transaction before it can be considered completely irreversible. However, when it comes to altcoins that use different block generation rate, some people go…
ThePiachu
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3
votes
2 answers
Holding all your money in one address = Paper wallet?
A paper wallet is a very misnamed term, since it's in fact a "paper address" indeed (contrary to a "wallet" which stores multiples addresses, for ewample inside the wallet.dat file).
Lots of people are speaking about the safety of paper wallet. It's…
btc-test
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2
votes
2 answers
How do I handle the risk that my hard disk crash?
I have good back up system. Can my wallet be backed up?
Can I access it anywhere?
If so how do bit coin system know that I am the one accessing it?
user4951
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2
votes
1 answer
Can a wallet/exchange provider ask for transaction details
My question has two parts,
Am I obligated to share transaction details with my wallet/exchange provider for any payment I made to an individual, like a subscription to a website?
Irrespective of the above point, If I pay for a subscription using…
digitalnomad30
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