USB Armory - Hacker Gadgets

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For some more great introductory videos check out Andreas Antonopoulos's YouTube playlists, he is probably the best bitcoin educator out there today. Also have to give mention to James D'Angelo's Bitcoin 101 Blackboard series. Lots of additional video resources can be found at the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here, here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

[uncensored-r/Bitcoin] /r/Bitcoin FAQ - Newcomers please read

The following post by BinaryResult is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
reddit: /Bitcoin/comments/6jlop4
The original post's content was as follows:

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For lots of additional video resources check out the videos wiki page or /BitcoinTV.
Key properties of bitcoin
  • Limited Supply - There will only ever be 21,000,000 bitcoins created and they are issued in a predictable fashion, you can view the inflation schedule here. Once they are all issued Bitcoin will be truly deflationary.
  • Open source - Bitcoin code is fully auditable. You can read the source code yourself here.
  • Accountable - The public ledger is transparent, all transactions are seen by everyone.
  • Decentralized - Bitcoin is globally distributed across thousands of nodes with no single point of failure and as such can't be shut down similar to how Bittorrent works.
  • Censorship resistant - No one can prevent you from interacting with the bitcoin network and no one can censor, alter or block transactions that they disagree with, see Operation Chokepoint.
  • Push system - There are no chargebacks in bitcoin because only the person who owns the address where the bitcoins reside has the authority to move them.
  • Low fee - Transactions fees can vary between a few cents and a few dollars depending on network demand and how much priority you wish to assign to the transaction. Most wallets calculate the fee automatically but you can view current fees here.
  • Borderless - No country can stop it from going in/out, even in areas currently unserved by traditional banking as the ledger is globally distributed.
  • Trustless - Bitcoin solved the Byzantine's Generals Problem which means nobody needs to trust anybody for it to work.
  • Pseudonymous - No need to expose personal information when purchasing with cash or transacting.
  • Secure - Encrypted cryptographically and can’t be brute forced or confiscated with proper key management such as hardware wallets.
  • Programmable - Individual units of bitcoin can be programmed to transfer based on certain criteria being met
  • Nearly instant - From a few seconds to a few minutes depending on need for confirmations. After a few confirmations transactions are irreversible.
  • Peer-to-peer - No intermediaries with a cut, no need for trusted third parties.
  • Portable - Bitcoins are digital so they are easier to move than cash or gold. They can even be transported by simply remembering a string of words for wallet recovery.
  • Scalable - Each bitcoin is divisible down to 8 decimals allowing it to grow in value while still accommodating micro-transactions.
  • Designed Money - Bitcoin was created to fit all the fundamental properties of money better than gold or fiat
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here, here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
  • If you prefer to "Be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here. If you want easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor or Ledger is recommended. A more advanced option is to secure them yourself using paper wallets generated offline. Some popular mobile and desktop options are listed below and most are cross platform.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
  • If you prefer to let third party "Bitcoin banks" manage your coins, try Coinbase or Xapo but be aware you may not be in control of your private keys in which case you would have to ask permission to access your funds and be exposed to third party risk.
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, Rakuten, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg, TigerDirect and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
  • 1-3% savings over credit cards or PayPal.
  • No chargebacks (final settlement in 10 minutes as opposed to 3+ months).
  • Accept business from a global customer base.
  • Increased privacy.
  • Convert 100% of the sale to the currency of your choice for deposit to your account, or choose to keep a percentage of the sale in bitcoin if you wish to begin accumulating it.
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin ?BTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (?L) or micrometre (?m)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
  • 0.02 BTC
  • 20 mBTC
  • 20,000 bits
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

Secure Storage of Bitcoins

Hello All,
Throwaway here. I was hoping you could help guide me on how to best store a very large amount of Bitcoin. I have done a lot of research and the following is my thought process:
There are really two separate groups of attackers one must defend themselves against; hackers (virtual aggressors) and targeted personal attacks; break-ins/muggings and agents of the State (physical aggressors).
Let's first start with virtual aggressors. To protect against this, one must stick with paper backups, and either cold storage or hardware wallets, where the private keys never transfer to a device that is connected to the internet. According to the research I have done, the best options would either be Armory or Trezor.
My concern with Armory is the badUSB firmware hack that was big news last year, and the fact that using cold storage with Armory requires the transferring of signed transactions back and forth with a USB device. I have found this open source USB: (http://www.inversepath.com/usbarmory.html), but I am unaware of how well audited this is and if this would protect me if the online computer I use could be infected. If not, I would need to buy two computers, one for cold storage and one to hold the online version of Armory (and never do anything else). With Trezor, my concern is that it is newer than Armory and therefore probably hasn't seen as much review, and I have more concerns about how it could protect against aggressors discussed in the following sections. The recent NSA firmware hacks revelations concern me in both scenarios, but I see no way to ease my paranoia with this.
For physical aggressors, I believe that the best protection is the actual incapability to hand over your Bitcoins. In other words, having a 50 character password that is written down on a piece of paper next to your computer that runs Armory offline, while great for protecting against virtual aggressors, is terribly insufficient for protecting against physical aggressors. The following are ways this could be protected against:
Armory has very well documented multi-sig support (Lockbox), but I have concerns with how/if this could work with cold storage. Even if this could, I cannot expect the other signers to buy and set up another computer for signing the transactions offline. I would then be making my Bitcoin less secure, for I would be the only party with offline signing, and the other involved parties could be targeted by virtual aggressors, and my funds would no longer have any protections against them. (For example, if I have a 2-of-3 Lockbox, the other 2 parties with online signing could be targeted). For Trezor, my current understanding is that multi-sig support is still in a sort of beta phase, where it is only integrated through a web wallet at the moment. While I think if this were ever widely integrated it would be great (because I could buy the other signers a Trezor, which would protect against virtual aggressors), I do not want to rely on a centralized service to access my coins. And I do not know how long it will take until this is updated. In addition to this, I would prefer to not have to rely on other parties to access funds that are solely my own.
Another idea is to use Armory to set up a wallet and the backups. I can set up a Lockbox with minimal funds for a “plausible deniability” of my real, vast majority of my funds (sort of like TrueCrypt’s hidden volume feature). The fake, minimal funds Lockbox would protect against non-State break-ins (to protect against a $5 wrench attack). I then have two options to secure the real funds, and how to protect against State-sanctioned break-ins and seizures.
(1) Use an incredibly strong password for my backups, backup to many places online, and memorize the password without writing it down anywhere. That way, the coins cannot be sent by an unwelcome party, and the backups cannot be seized or imported. This, however, has the same faults as a brainwallet does, in that if my password is able to memorized, it is most likely not secure enough. And I really am not comfortable trusting myself to memorize something, or forever lose all my money.
(2) Do not set a password, create fragmented backups, and then destroy the computer. Either hide the fragmented backups in various places (not on your property), and/or give to trusted friends. This has the same faults as a multi-signature wallet (relying on other people for your own funds), but has the added benefit of not opening up the additional attack vector of virtual aggressors.
While I think the best solution will involve something with Armory and a fake Lockbox with minimal funds, I am now out of ideas, and have found no perfect solution.
People may think the section of protecting against State-sanctioned physical aggressors is overly paranoid, but I think it is important to remember that there was a time in the United States’ history when holding gold was outlawed. When Bitcoin begins to really challenge the power of governments around the world, I would not be too surprised if they come after Bitcoin as well.
I know this has been a huge wall of text, but I tried very hard to keep it as concise and organized as possible. Please correct me if anything I have said above is outdated or just wrong.
Thank you so much for reading all of this, and if you have any ideas on how to best protect against everything discussed above, I would greatly appreciate it!
Thank you!
ETH
submitted by ETHenry1 to Bitcoin [link] [comments]

Bitcoin client comparison? Ease of use, functionality, security etc..

Hey everyone,
I've recently started using bitcoins, and been trying to figure out the best way to store them.. There are a bunch of desktop clients available, each with it's ups and downs, supporting different features, and using different amount of resources..
I wanted to find a nice overview of them all, but so far I'm not finding anything that I wanted to know.. So I think we should have some kind of wiki page, that describes them in more details. Explains how to start using each of them, and how to ensure it's safe.
For example, to try and secure my wallet files, I'm storing them in a TrueCrypt volume, that's archived to the cloud. This way they are backed up to multiple locations, incase my machine dies, and are also encrypted, in case one of the machines is compromised! I'm not sure if that's overkill or not :)
I thought I'd start with a short write-up of my opinions on some of the clients and my impressions of them. It's by no means a comprehensive review (that would take a lot more space than a single reddit post). All of this is just a subjective view on each of the clients.. I hope more people will add to it, maybe even compoling a nice and informative comparison of all the popular clients!
  1. Bitcoin-QT: The official client. Somewhat basic in functionality, advanced functions (like backing up the private key) available through the "debug" window., but works well for a lot of people.. You can backup the wallet.dat file in the TrueCrypt volume to secure the coins, but the client will store the main working copy of the wallet file in %APPDATA% in Windows - leaving it potentially compromised, unless you encrypt the wallet file (part of the client's functionality). There's no obvious way to change the storage location.
    The downside (upside for some?) of the client is that it stores the whole blockchain.. (almost 15GB atm) Initial synchronisation takes a lot of time.. If you don't use it for some time, you'll have to synchronise again, which takes time (and CPU resources btw)..
    At the end of the day, the wallet is as secure as your machine is. No support for paper wallets / watch-only wallets / offline storage, transactions.. But for basic use - it works perfectly fine.
  2. Bitcoin Armory: A popular powerful client, runs "on top" of Bitcoin-QT, which means the blockchain is also stored on the local drive.. On top of that, the Armory client will also build a local database to manage it, which means it needs more storage on it's own.. (at the moment, that's an extra 16GB on top of the blockchain!). Also, the synchronisation status is not very helpful, just saying the % synchronised.. At least Bitcoin-QT states how many weeks/days you are behind, so you can somewhat estimate how soon the sync will work.
    The Armory client supports multiple wallets, compared to the official client, which can be stored separately. The wallets use (correct me if I'm wrong?) a deterministic key to generate the private keys, which means if you backup your wallet in cold storage - you can restore it at any point, and restore all the new addresses generated after the backup - a very useful feature. The Armory client has more advanced functionality like paper backups (described above), offline wallets and offline transactions, and a lot more.. Some features are missing, like importing watch-only addresses. You can though create a watch-only backup of a wallet, and import that on a different machine, but if you only have an address - not supported atm.
    The client seems rather powerful, but also feels a bit clunky and hard to use.. Some functionality is missing, and just strange (not all private key formats are supported.. even if most other clients have no problems with them)
  3. MultiBit: A lite bitcoin client, that doesn't store the whole blockchain locally. This makes it a lot easier to start using, even on a new machine. It will only synchronise a part of the blockchain that is relevant for a specific address, which means you save on both time and storage when using it, but it can be (potentially, but quite unlikely) compromised, if the only nodes it can see are rogue.
    It also supports multiple wallets, you can select where to store the wallet files, and they can be password protected as well. You can store them on a TrueCrypt volume, to secure it even more. The app is still relatively simple to use, while providing more functionality than just the basics.
    Compared to Armory and Bitcoin-QT, you can also create a portable installation, which can be stored on a USB key / True Crypt volume along with the key files.
  4. Electrum: This is one of the clients I've hardly used so far.. It has a full and a portable version! With the portable version I can store they keys where I want, and keep them secure as I see fit. As MultiBit, it doesn't store the full chain, but instead will use a server to keep and manage the blockchain. But nothing is stopping you from running your own electrum server and connecting to it, if you're worried.
    The client seems rather simple, but powerful at the same time. Same as Armory - it will create a seed that will be used to generate addresses. The nice thing is that it will generate multiple receiving addresses, and will also maintain change addresses, which (if I'm right) means that each transaction will not reuse the same address twice, unless you force it to. My only gripe so far with it is that it's the only client so far where you can't send to multiple addresses in one transaction, forcing only a single recipient per transaction.. I hope that'll change in the future :(
submitted by artiomchi to Bitcoin [link] [comments]

My Proposed Bitcoin Backup Solution

I have some Bitcoins that are hosted on a web wallet and I want to get those Bitcoins out of there ASAP. I have never backed up my Bitcoins before so I wanted to outline my plan and allow for any peer review and/or criticism. (Hopefully some newbies can find some of this helpful as well).
My ultimate goal is removing my Bitcoins from the web and onto a portable, secure cold storage. These are Bitcoins I don't want to touch for a while.
Here is my plan thus far:
Layer 1:
I have already ordered 2 CORSAIR Survivor Stealth 16GB USB 3.0 Flash Drive Model CMFSS3-16GB from NewEgg. I figured USB 3.0 will be in full swing if I want to access these in the future. The drives themselves are waterproof to 200 meters, vibration and shock resistant.
Layer 2:
I thought these drives came with a basic password protection option to access the drive but I suppose that was another drive I was looking at. If anyone has a basic solution for this I would appreciate it.
In this layer I was planning on putting basic files in case of recovery (or incompatibility in the future) such as TrueCrypt.exe (in case needed for recovery later, see Layer 3), an installer for Bitcoin-qt.exe and the Armory Wallet Backup program too.
Layer 3:
In Layer 2 I will create a TrueCrypt volume that will be secure and contain all of my sensitive data. When I launch TrueCrypt I can mount a file that is cryptographically secure as a its own volume. In essence, it takes a secure file and unlocks it as if it were another USB or Hard Drive on my computer, allowing me to access all files and then secure it when I dismount it from my hard drive.
In this layer I will have my Armory Wallet saved. I have never used Armory before so I will be following any guides on their website. If necessary I will keep my wallet.dat in this layer as well.
Layer 4:
I understand Armory has the ability to encrypt the wallet too. If I elect to that then I would consider that my final layer of security.
In addition to the layers of security I was planning on splitting up my Bitcoin assets (hence 2 USB drives) and securing them in different places (effectively Layer 0). I don't have a fire safe or anything like that but I plan to acquire a secure place to keep my flash drives from being lost or stolen.
Also, I am planning to test out these methods beforehand with a minimal amount of Bitcoins (some Satoshis perhaps) to ensure I don't seal my own doom by making some grave errors in the process.
This is just my basic plan, any comments or criticisms are welcome.
submitted by cyborgcommando0 to Bitcoin [link] [comments]

Secure Storage of Bitcoins (x-post from r/Bitcoin)

Hello All,
Throwaway here. I was hoping you could help guide me on how to best store a very large amount of Bitcoin. I have done a lot of research and the following is my thought process:
There are really two separate groups of attackers one must defend themselves against; hackers (virtual aggressors) and targeted personal attacks; break-ins/muggings and agents of the State (physical aggressors).
Let's first start with virtual aggressors. To protect against this, one must stick with paper backups, and either cold storage or hardware wallets, where the private keys never transfer to a device that is connected to the internet. According to the research I have done, the best options would either be Armory or Trezor.
My concern with Armory is the badUSB firmware hack that was big news last year, and the fact that using cold storage with Armory requires the transferring of signed transactions back and forth with a USB device. I have found this open source USB: (http://www.inversepath.com/usbarmory.html), but I am unaware of how well audited this is and if this would protect me if the online computer I use could be infected. If not, I would need to buy two computers, one for cold storage and one to hold the online version of Armory (and never do anything else). With Trezor, my concern is that it is newer than Armory and therefore probably hasn't seen as much review, and I have more concerns about how it could protect against aggressors discussed in the following sections. The recent NSA firmware hacks revelations concern me in both scenarios, but I see no way to ease my paranoia with this.
For physical aggressors, I believe that the best protection is the actual incapability to hand over your Bitcoins. In other words, having a 50 character password that is written down on a piece of paper next to your computer that runs Armory offline, while great for protecting against virtual aggressors, is terribly insufficient for protecting against physical aggressors. The following are ways this could be protected against:
Armory has very well documented multi-sig support (Lockbox), but I have concerns with how/if this could work with cold storage. Even if this could, I cannot expect the other signers to buy and set up another computer for signing the transactions offline. I would then be making my Bitcoin less secure, for I would be the only party with offline signing, and the other involved parties could be targeted by virtual aggressors, and my funds would no longer have any protections against them. (For example, if I have a 2-of-3 Lockbox, the other 2 parties with online signing could be targeted). For Trezor, my current understanding is that multi-sig support is still in a sort of beta phase, where it is only integrated through a web wallet at the moment. While I think if this were ever widely integrated it would be great (because I could buy the other signers a Trezor, which would protect against virtual aggressors), I do not want to rely on a centralized service to access my coins. And I do not know how long it will take until this is updated. In addition to this, I would prefer to not have to rely on other parties to access funds that are solely my own.
Another idea is to use Armory to set up a wallet and the backups. I can set up a Lockbox with minimal funds for a “plausible deniability” of my real, vast majority of my funds (sort of like TrueCrypt’s hidden volume feature). The fake, minimal funds Lockbox would protect against non-State break-ins (to protect against a $5 wrench attack). I then have two options to secure the real funds, and how to protect against State-sanctioned break-ins and seizures.
(1) Use an incredibly strong password for my backups, backup to many places online, and memorize the password without writing it down anywhere. That way, the coins cannot be sent by an unwelcome party, and the backups cannot be seized or imported. This, however, has the same faults as a brainwallet does, in that if my password is able to memorized, it is most likely not secure enough. And I really am not comfortable trusting myself to memorize something, or forever lose all my money.
(2) Do not set a password, create fragmented backups, and then destroy the computer. Either hide the fragmented backups in various places (not on your property), and/or give to trusted friends. This has the same faults as a multi-signature wallet (relying on other people for your own funds), but has the added benefit of not opening up the additional attack vector of virtual aggressors.
While I think the best solution will involve something with Armory and a fake Lockbox with minimal funds, I am now out of ideas, and have found no perfect solution.
People may think the section of protecting against State-sanctioned physical aggressors is overly paranoid, but I think it is important to remember that there was a time in the United States’ history when holding gold was outlawed. When Bitcoin begins to really challenge the power of governments around the world, I would not be too surprised if they come after Bitcoin as well.
I know this has been a huge wall of text, but I tried very hard to keep it as concise and organized as possible. Please correct me if anything I have said above is outdated or just wrong.
Thank you so much for reading all of this, and if you have any ideas on how to best protect against everything discussed above, I would greatly appreciate it!
Thank you!
ETH
submitted by ETHenry1 to BitcoinWallet [link] [comments]

Secure Storage of Bitcoins (x-post from r/Bitcoin)

Hello All,
Throwaway here. I was hoping you could help guide me on how to best store a very large amount of Bitcoin. I have done a lot of research and the following is my thought process:
There are really two separate groups of attackers one must defend themselves against; hackers (virtual aggressors) and targeted personal attacks; break-ins/muggings and agents of the State (physical aggressors).
Let's first start with virtual aggressors. To protect against this, one must stick with paper backups, and either cold storage or hardware wallets, where the private keys never transfer to a device that is connected to the internet. According to the research I have done, the best options would either be Armory or Trezor.
My concern with Armory is the badUSB firmware hack that was big news last year, and the fact that using cold storage with Armory requires the transferring of signed transactions back and forth with a USB device. I have found this open source USB: (http://www.inversepath.com/usbarmory.html), but I am unaware of how well audited this is and if this would protect me if the online computer I use could be infected. If not, I would need to buy two computers, one for cold storage and one to hold the online version of Armory (and never do anything else). With Trezor, my concern is that it is newer than Armory and therefore probably hasn't seen as much review, and I have more concerns about how it could protect against aggressors discussed in the following sections. The recent NSA firmware hacks revelations concern me in both scenarios, but I see no way to ease my paranoia with this.
For physical aggressors, I believe that the best protection is the actual incapability to hand over your Bitcoins. In other words, having a 50 character password that is written down on a piece of paper next to your computer that runs Armory offline, while great for protecting against virtual aggressors, is terribly insufficient for protecting against physical aggressors. The following are ways this could be protected against:
Armory has very well documented multi-sig support (Lockbox), but I have concerns with how/if this could work with cold storage. Even if this could, I cannot expect the other signers to buy and set up another computer for signing the transactions offline. I would then be making my Bitcoin less secure, for I would be the only party with offline signing, and the other involved parties could be targeted by virtual aggressors, and my funds would no longer have any protections against them. (For example, if I have a 2-of-3 Lockbox, the other 2 parties with online signing could be targeted). For Trezor, my current understanding is that multi-sig support is still in a sort of beta phase, where it is only integrated through a web wallet at the moment. While I think if this were ever widely integrated it would be great (because I could buy the other signers a Trezor, which would protect against virtual aggressors), I do not want to rely on a centralized service to access my coins. And I do not know how long it will take until this is updated. In addition to this, I would prefer to not have to rely on other parties to access funds that are solely my own.
Another idea is to use Armory to set up a wallet and the backups. I can set up a Lockbox with minimal funds for a “plausible deniability” of my real, vast majority of my funds (sort of like TrueCrypt’s hidden volume feature). The fake, minimal funds Lockbox would protect against non-State break-ins (to protect against a $5 wrench attack). I then have two options to secure the real funds, and how to protect against State-sanctioned break-ins and seizures.
(1) Use an incredibly strong password for my backups, backup to many places online, and memorize the password without writing it down anywhere. That way, the coins cannot be sent by an unwelcome party, and the backups cannot be seized or imported. This, however, has the same faults as a brainwallet does, in that if my password is able to memorized, it is most likely not secure enough. And I really am not comfortable trusting myself to memorize something, or forever lose all my money.
(2) Do not set a password, create fragmented backups, and then destroy the computer. Either hide the fragmented backups in various places (not on your property), and/or give to trusted friends. This has the same faults as a multi-signature wallet (relying on other people for your own funds), but has the added benefit of not opening up the additional attack vector of virtual aggressors.
While I think the best solution will involve something with Armory and a fake Lockbox with minimal funds, I am now out of ideas, and have found no perfect solution.
People may think the section of protecting against State-sanctioned physical aggressors is overly paranoid, but I think it is important to remember that there was a time in the United States’ history when holding gold was outlawed. When Bitcoin begins to really challenge the power of governments around the world, I would not be too surprised if they come after Bitcoin as well.
I know this has been a huge wall of text, but I tried very hard to keep it as concise and organized as possible. Please correct me if anything I have said above is outdated or just wrong.
Thank you so much for reading all of this, and if you have any ideas on how to best protect against everything discussed above, I would greatly appreciate it!
Thank you!
ETH
submitted by ETHenry1 to BitcoinBeginners [link] [comments]

Bitcoin Armory Walk Through USB armory Beginner's guide: Installing Bitcoin Armory on Windows 7 Setting up cold storage in Armory on Ubuntu 14.04 Sending Bitcoin - Armory Guide

Armory Bitcoin Wallet Review By Delma Wilson Follow on Twitter Send an email February 4, 2020 Updated on September 12, 2020 , 7:56 am Armory is an open-source bitcoin wallet with multi-signature and cold storage supporting features. Armory is a sophisticated wallet management application, written with an open-source Python-based code for Bitcoin clients. It is considered as one of most fortified available bitcoin wallets. It features a friendly user interface, as well as helps businesses and individuals to manage and secure their bitcoins. However, armory is no longer supported by its developers, though efforts are being ... The USB armory can even be used to securely access remote computers (over a VPN or SSH), act as an electronic wallet (for Bitcoin), or serve as a bridge for Tor. Includes: USB Armory, enclosure, host adapter Notes: You will need to supply your own microSD card. The cap is no longer included as it was always loose or too tight – never quite ... Armory Wallet Review 2020: Fees, Pros, Cons and Features . The Armory wallet is an open source, cold wallet designed for Bitcoin that supports the multi-signature system for a safe and easy to use ... While cold storage is a salient feature of Armory Bitcoin Wallet Offline, it also offers high-end security with an open-source protocol. Moreover, cold storage enables one to store private keys offline as well. Thus, the Armory Wallet Application has quickly risen on popularity. Why Armory Bitcoin Wallet? Apart from the easy human-friendly User Interface (UI), it is the safest means of ...

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Bitcoin Armory Walk Through

- A USB stick (a small one will do fine). For step-by-step guidance, enable the subtitles! ... How to install Bitcoin Armory in Ubuntu 14.04 - Duration: 7:00. Bitcoin Beginner 8,443 views. 7:00 ... SUBSCRIBE FOR MORE HOW MUCH - http://shorturl.at/arBHL GekkoScience NewPac USB Miner - https://bit.ly/2RIQgdX GekkoScience 8 Port USB Hub - https://bit.ly/2x... Forging the USB armory Presented By Andrea Barisani - Duration: 46 ... Bitcoin Armory Setup - Duration: 14:37. Bitcoin Nick Rambos Recommended for you. 14:37. USBdriveby - exploiting USB in style ... How to Download and Verify the Armory Bitcoin Wallet - Duration: 22:31. Rex Kneisley 4,903 views. 22:31 . How to Install a BitPay Wallet on Linux - Duration: 2:43. BitPay 3,020 views. 2:43. Get ... Weaponizing the USB Armory by Yashin Mehaboobe - Duration: 30 ... How to make a Bitcoin Paper Wallet - Duration: 9:25. BTC Sessions Recommended for you. 9:25. B̲o̲ston - B̲o̲ston (Album)1976 ...

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