Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. I bought bitcoin. (A substantial amount) back in for $ It ran up to $ before crashing down. I was mocked for not selling it. Today those bitcoin are worth $8 million. Note that I have sold a handful along the way and also covered calls but I still own 70% of my holdings. Edited: it . Mar 11, · Bitcoin is still extremely unstable, but the crashes are in generally decreasing severity. It's not going to get any better until the market saturates, and .
Bitcoin crashing redditCRASH?? : Bitcoin
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What happens if my bitcoin wallet client computer crashes and is unrecoverable. Do I lose my bitcoins because I lost the addresses? Is there a way to back up addresses or send my addresses to an permanent offline client? Hi I have a lot of questions, google my usual friend is not very much help when it comes to these specific bitcoin questions.
I hope I am asking in the right place. If you know of a website that says all of this information that would be great. I would be embarrassed if the answers to my questions are readily available else where. I apologize for my n00bness lol. Wallets are confusing, but if you have ever set up PGP, it is similar actually. The public part you need to give to others if you want them to pay you. The private part you want to keep secret and safe.
Back up your wallet file to a USB stick or something, hopefully encrypted, and the wallet file on your disk should also be encrypted. If it's a lot of coins and you want to store them more securely, check out paper wallets.
Thank you for your reply. So I should back up wallet data using the export to file button. It shows a file extension of csv I thought saving was going to be in txt. When I create a receiving address in bitcoin qt it doesnt show me any private keys. Is there a way to get them? Once an address has been backed up can it be imported again back into bitcoin qt? Is saving a wallet on a usb as simple as a txt with the address and a private and public key? I put on my usb stick the wallet.
But it would likely be easier for you to use Electrum and write down the seed 12 words it generates for you. You can then later on import that seed and recreate your private keys and access the funds. You would need to make a transaction first to one of the addresses Electrum shows you in the Receive tab.
Electrum I will check that out thank you for the resource. When I spend btc from my wallet does it make a new address every time? Will my public key change? I here the armory has deterministic wallets so it will only need to be backed up once. I feel that I could make a mistake from ignorance and lose all my bitcoins. I have read the wiki's but its not giving me any real world examples or possible problems with solutions.
Electrum is like Armory in that regard. The one seed is all that is needed to generate all the addresses change and receiving that you'd need.
You can just as well setup both a "hot" Internet-connected wallet and a cold storage with Electrum as well.