Silk Road forums
Discussion => Newbie discussion => Topic started by: BritishSovereign on February 02, 2013, 02:19 pm
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So, I've been busy setting up my account here as I am intending to become a vendor quite soon, I'm just going to get integrated into the community more so at least I'm not a total stranger to everyone even though I've been busy for the last 4/5 months stalking these forums.
Anyway, I'm looking for a backup wallet, but which client would you recommend I use as my backup wallet for SilkRoad as I honestly don't trust any online storage wallets as I'm not comfortable with allowing other people who can be influenced by LEA to be in control of my money before it's cleaned.
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Are you looking to backup your wallet.dat or are you looking for a entirely new, separate wallet?
Really all you have to do to make a secure backup of your wallet is copy your wallet.dat to an offline media storage device such as a flash drive and encrypt it. It should of course be encrypted in the first place too.
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Are you looking to backup your wallet.dat or are you looking for a entirely new, separate wallet?
Really all you have to do to make a secure backup of your wallet is copy your wallet.dat to an offline media storage device such as a flash drive and encrypt it. It should of course be encrypted in the first place too.
Creating a new wallet all together.
It'll be a place to store bitcoins as my central hub of moving them around (I got the mixing covered already) and also where I can direct all my backup addresses to such as SR's function to send any available coins to a specified wallet should SR go down.
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I do not believe that the wallet actually holds the coins. Instead, it holds the information needed to prove that it is the owner of coins associated with those addresses in the block chain. So really, if you want a place to store an SR address and keep it safe and separate from your everyday addresses, you can create a new wallet.dat, create a new address in it, and then put that wallet.dat on a separate storage media. The client itself does not really affect the storage of coins, it mostly just serves as a way of managing interactions with the wallet.dat file.
I think that would be the most effective way of accomplishing what I think you are looking to do. I agree with you on online wallets though, do not feel comfortable using them for long term storage.
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I personally use and recommend the electrum client. It's got this sick feature where you have to do is remember a 12 word phrase and you'll never lose your wallet.
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http://dkn255hz262ypmii.onion/index.php?topic=111975.msg764639#msg764639