Silk Road forums

Discussion => Silk Road discussion => Topic started by: rabbit88 on November 23, 2012, 03:36 am

Title: Backup Wallet
Post by: rabbit88 on November 23, 2012, 03:36 am
At someones suggestion I went into my account and set up a bitcoin back up wallet. It says when site goes down BTC will be sent to that address. Wondering how long site has to be down before this occurs.
Title: Re: Backup Wallet
Post by: smores on November 23, 2012, 08:19 am
I believe its only in case of serious emergency, such as if the site is compromised.
Title: Re: Backup Wallet
Post by: brokenfone on November 23, 2012, 08:21 am
I don't think you understand what a back up BTC wallet is for. This is for you to take your money out of your account and keep it safe just in case the site does go down. You can't access your BTC wallet on SR because the BTC wallet given to you through SR is tied to their servers, when its down you don't get your money, when it's up you can. This prevents people from pulling BTC out of your account without knowledge of that happening.
Title: Re: Backup Wallet
Post by: human5 on November 23, 2012, 08:34 am
only thing you can assume is that the site is not "down" but malfunctioning. Be patient, DPR was only last active 9-10 hrs ago so give him some time to catch onto what's going on.
Title: Re: Backup Wallet
Post by: fleetingglimpse on November 23, 2012, 09:23 am
I don't think you understand what a back up BTC wallet is for. This is for you to take your money out of your account and keep it safe just in case the site does go down. You can't access your BTC wallet on SR because the BTC wallet given to you through SR is tied to their servers, when its down you don't get your money, when it's up you can. This prevents people from pulling BTC out of your account without knowledge of that happening.

That wasn't really the impression I got from reading the description dude. I imagined that if the site went down any BTC in your SR wallet would be sent to this emergency address,  and that would be your own wallet, an online one, mtgox account or wherever you chose. Could be wrong but that's how it read to me ;)
Title: Re: Backup Wallet
Post by: brokenfone on November 23, 2012, 09:47 am
You can't withdraw bitcoins from your SR wallet without SR servers running, all your wallets are stored on the servers.
Title: Re: Backup Wallet
Post by: BlarghRawr on November 23, 2012, 10:00 am
:)
So you've updated your spamming methods?
Title: Re: Backup Wallet
Post by: BlarghRawr on November 23, 2012, 10:00 am
hi im a vendor, and the last outage 6days no money to backup wallet?
You are as much of a vendor as I am.
Title: Re: Backup Wallet
Post by: fleetingglimpse on November 23, 2012, 11:08 am
You can't withdraw bitcoins from your SR wallet without SR servers running, all your wallets are stored on the servers.

Exactly ;). So thats why I thought that if the site went down, your coin would be sent to the back up/emergency/whatever it is called address that you nominate 'automatically'. The OP is wondering how long this would take!

Apparently it is longer than 6 days. Or maybe all our coin are gone  :o  Or perhaps the site is just not 'down'. :)

Can anyone confirm what the backup address in account settings does and how quickly? Just for clarity sake ???
Title: Re: Backup Wallet
Post by: tooconscious on November 23, 2012, 11:15 am
Broken, I don't think you understood his question. He wasn't asking how he can withdraw his BTC to a backup wallet. He's referring to an option in the settings of your SR account that allows you to enter a backup wallet address to which your BTC is sent in case of an emergency. This means in a case where you can't actually access SR..otherwise you would just withdraw manually.

Unfortunately, it's not exactly clear how this feature is implemented, as OP mentioned. There's no indication as to what would trigger this emergency scenario where the auto-withdrawal is initiated. Would like more info on this as well.
Title: Re: Backup Wallet
Post by: BlarghRawr on November 23, 2012, 11:19 am
You can't withdraw bitcoins from your SR wallet without SR servers running, all your wallets are stored on the servers.

Exactly ;). So thats why I thought that if the site went down, your coin would be sent to the back up/emergency/whatever it is called address that you nominate 'automatically'. The OP is wondering how long this would take!

Apparently it is longer than 6 days. Or maybe all our coin are gone  :o  Or perhaps the site is just not 'down'. :)

Can anyone confirm what the backup address in account settings does and how quickly? Just for clarity sake ???
Yes. The backup address is the address to which your coins will automatically go if the site GETS COMPROMISED OR TAKEN DOWN.

Repairs, upgrades, or maintenance are not the same as it being compromised or taken down.
Title: Re: Backup Wallet
Post by: fleetingglimpse on November 23, 2012, 11:33 am
Clarified, thank you sir 8)