Bitcoin 101 - CoinDesk

IMPORTANT wallet advice I think every user should know - don't get burned by not following these tips, it's important to use wallets in a SAFE way!

iOS, Android & Exchange wallets = NOT SECURE enough!

There are RISKS to storing your ETH in an iOS/Android wallet, and you are obligated to TEST YOUR WALLET if you used myetherwallet.com to generate your wallet (their wallets should work just fine but they even tell you to test your wallet before offloading to it). Also if you use freewallet I suggest REMOVING YOUR FUNDS FROM IT ASAP see here for why.
An example: Jax for iOS is a closed source wallet -- all iOS and Android wallets are compiled and sent to the app store. It is impossible to know what got inserted into there by the time you use it. For that reason I strongly encourage not keeping your ether in any iOS or Android wallet and also not keeping your ether in any exchange at. Both wallet apps and exchanges have been hacked or behaved dishonestly in the past and have stolen user bitcoin and ether. I believe the founder of jaxx has said as much as well - that his wallet is designed for convenience and not for large or long term storage!
you may think I am paranoid, however:
  1. here is an iOS wallet that just stole 8 million dollars from its users - this could happen to jaxx or any, any wallet you download from the app store
  2. here is a user who lost $50,000 because he generated a wallet at myetherwallet without first testing sending and receiving money
It is very important that you:
  1. generate a wallet from a source that you absolutely trust and that you
  2. store that wallet in a secure environment and that you
  3. test that wallet before sending all your ether to it.
If you search the sub you will discover some horror stories from folks who failed to follow through with these steps. They are not overly hard but are extremely important towards securing your investment.
FAILURE TO COMPLY with these pieces of advice may result in the absolute and total loss or inaccessibility of your ether, and in such a circumstance your ether is both non-recoverable and you are fully liable for the loss.

How to generate a wallet in a safe way: air gapped paper wallet

  1. get a USB stick and create a bootable version of ubuntu, there are many guides on how to do this. Here is one for Windows Users. Here is one for Mac users. Here is a video on YouTube for how to do it. By the end of this first step you should have a USB stick that you can boot Ubuntu from.
  2. download this website from here. Extract the contents of this zip to a folder on a flash drive. You can use the same flash drive that you just created for Ubuntu, just make a folder such as flashdrive/myetherwallet and stick the website contents in there
  3. You have to now boot your computer from the USB stick. Mac users can just insert the USB stick, hold option, power up their computer and then select "Ubuntu live cd" or "ubuntu". Windows users have to follow these steps with the usb stick inserted and then pick the usb stick from a list of boot options.
  4. at some point booting from the usb stick, select "live cd" or "try ubuntu before installing". NEVER EVER SETUP WIFI, UNPLUG YOUR INTERNET CORD IF YOU ARE WIRED IN!
  5. once ubuntu boots, find the flash drive in the file explorer with the website, and open up index.html
  6. think up a password (you absolutely shouldnt forget this) and click "generate wallet". Then click "download keystore file" and find the file that got downloaded and STICK THIS ON THE FLASH DRIVE - you absolutely shouldnt lose this!
  7. write down the private key that they give you. Write it on paper, double and triple check it. Copy it to a text file and save it onto the flash drive. You absolutely shouldnt lose this!
  8. you shouldnt print your wallet unless you can connect to a usb printer. Otherwise you would need network access to print. What you can do though is click on "print", cancel the print dialogue and then go to "file > save" and save the webpage on your flash disk.
  9. click next, select "Keystore File (UTC / JSON)" and then "select a file" and open the .json file you saved on the flash disk earlier
  10. you have now generated a wallet. Nice job. I highly suggest you now insert a second flash disk and copy EVERYTHING from the first one onto the second. Then store them in different places. The idea here is that you make several copies of your public and private key so you don't lose them.
  11. NEVER EVER PLUG THESE USB STICKS INTO ANOTHER COMPUTER AGAIN - only access these USB sticks from ubuntu, booting it up the same way you did in the steps above ^
  12. You should now try sending something small like 0.001 ETH to this new wallet, and then use http://etherscan.io to make sure the transfer goes through.
  13. You should now try sending 0.001 ETH out of your new wallet to make sure it works. You should only ever send money from this new wallet by booting Ubuntu up and sticking the USB sticks into your computer. From an online computer go here and put your new wallet's public address in, then click "generate information" and copy down gas price and nonce to a textfile on A NEW usb stick. Go back to your offline computer with ubuntu and open up index.html again and click "Send Offline" on the navigation at the top. Where it says "Step 2" insert the to address of your old wallet, and put 0.001 in for value, and then fill in gas price and nonce from the text file you saved on that new usb stick. Check the "keystore JSON" box and click "SELECT WALLET FILE" and give it the .json file you saved from step 6. It will now give you some long string of text. SAVE THIS TO THAT NEW USB STICK DONT REUSE THE ONE WITH THE .JSON FILE AND YOUR PRIVATE KEY! Stick this new USB stick into another computer, go here again, in the box labeled "signed transaction" paste that text you just saved in and click "send transaction". BOOM.
if this works then you now a) know your brand spanking new wallet works and b) know how to do a super secure offline transaction - hackers be damned you're pretty secure and safe now!

Hardware wallet

I believe an air gap generated paper wallet is the most secure approach, but if you want a hardware wallet I would read up on the Ledger and the TREZOR, although these are difficult to find right now due to large demand.
submitted by dont_forget_canada to ethtrader [link] [comments]

IMPORTANT safety advice for new users - know how to store your ETH safely so you don't lose it!

this is a repost from my old guide BUT we have a lot more new users so I thought it was important to re-iterate through this advice:
https://www.reddit.com/ethtradecomments/6h46qw/important_wallet_advice_i_think_every_user_should/

iOS, Android & Exchange wallets = NOT SECURE enough!

There are RISKS to storing your ETH in an iOS/Android wallet, and you are obligated to TEST YOUR WALLET if you used myetherwallet.com to generate your wallet (their wallets should work just fine but they even tell you to test your wallet before offloading to it). Also if you use freewallet I suggest REMOVING YOUR FUNDS FROM IT ASAP see here for why.
An example: Jax for iOS is a closed source wallet -- all iOS and Android wallets are compiled and sent to the app store. It is impossible to know what got inserted into there by the time you use it. For that reason I strongly encourage not keeping your ether in any iOS or Android wallet and also not keeping your ether in any exchange at. Both wallet apps and exchanges have been hacked or behaved dishonestly in the past and have stolen user bitcoin and ether. I believe the founder of jaxx has said as much as well - that his wallet is designed for convenience and not for large or long term storage!
you may think I am paranoid, however:
  1. here is an iOS wallet that just stole 8 million dollars from its users - this could happen to jaxx or any, any wallet you download from the app store
  2. here is a user who lost $50,000 because he generated a wallet at myetherwallet without first testing sending and receiving money
It is very important that you:
  1. generate a wallet from a source that you absolutely trust and that you
  2. store that wallet in a secure environment and that you
  3. test that wallet before sending all your ether to it.
If you search the sub you will discover some horror stories from folks who failed to follow through with these steps. They are not overly hard but are extremely important towards securing your investment.
FAILURE TO COMPLY with these pieces of advice may result in the absolute and total loss or inaccessibility of your ether, and in such a circumstance your ether is both non-recoverable and you are fully liable for the loss.

How to generate a wallet in a safe way: air gapped paper wallet

  1. get a USB stick and create a bootable version of ubuntu, there are many guides on how to do this. Here is one for Windows Users. Here is one for Mac users. Here is a video on YouTube for how to do it. By the end of this first step you should have a USB stick that you can boot Ubuntu from.
  2. download this website from here. Extract the contents of this zip to a folder on a flash drive. You can use the same flash drive that you just created for Ubuntu, just make a folder such as flashdrive/myetherwallet and stick the website contents in there
  3. You have to now boot your computer from the USB stick. Mac users can just insert the USB stick, hold option, power up their computer and then select "Ubuntu live cd" or "ubuntu". Windows users have to follow these steps with the usb stick inserted and then pick the usb stick from a list of boot options.
  4. at some point booting from the usb stick, select "live cd" or "try ubuntu before installing". NEVER EVER SETUP WIFI, UNPLUG YOUR INTERNET CORD IF YOU ARE WIRED IN!
  5. once ubuntu boots, find the flash drive in the file explorer with the website, and open up index.html
  6. think up a password (you absolutely shouldnt forget this) and click "generate wallet". Then click "download keystore file" and find the file that got downloaded and STICK THIS ON THE FLASH DRIVE - you absolutely shouldnt lose this!
  7. write down the private key that they give you. Write it on paper, double and triple check it. Copy it to a text file and save it onto the flash drive. You absolutely shouldnt lose this!
  8. you shouldnt print your wallet unless you can connect to a usb printer. Otherwise you would need network access to print. What you can do though is click on "print", cancel the print dialogue and then go to "file > save" and save the webpage on your flash disk.
  9. click next, select "Keystore File (UTC / JSON)" and then "select a file" and open the .json file you saved on the flash disk earlier
  10. you have now generated a wallet. Nice job. I highly suggest you now insert a second flash disk and copy EVERYTHING from the first one onto the second. Then store them in different places. The idea here is that you make several copies of your public and private key so you don't lose them.
  11. NEVER EVER PLUG THESE USB STICKS INTO ANOTHER COMPUTER AGAIN - only access these USB sticks from ubuntu, booting it up the same way you did in the steps above ^
  12. You should now try sending something small like 0.001 ETH to this new wallet, and then use http://etherscan.io to make sure the transfer goes through.
  13. You should now try sending 0.001 ETH out of your new wallet to make sure it works. You should only ever send money from this new wallet by booting Ubuntu up and sticking the USB sticks into your computer. From an online computer go here and put your new wallet's public address in, then click "generate information" and copy down gas price and nonce to a textfile on A NEW usb stick. Go back to your offline computer with ubuntu and open up index.html again and click "Send Offline" on the navigation at the top. Where it says "Step 2" insert the to address of your old wallet, and put 0.001 in for value, and then fill in gas price and nonce from the text file you saved on that new usb stick. Check the "keystore JSON" box and click "SELECT WALLET FILE" and give it the .json file you saved from step 6. It will now give you some long string of text. SAVE THIS TO THAT NEW USB STICK DONT REUSE THE ONE WITH THE .JSON FILE AND YOUR PRIVATE KEY! Stick this new USB stick into another computer, go here again, in the box labeled "signed transaction" paste that text you just saved in and click "send transaction". BOOM.
if this works then you now a) know your brand spanking new wallet works and b) know how to do a super secure offline transaction - hackers be damned you're pretty secure and safe now!

Hardware wallet

I believe an air gap generated paper wallet is the most secure approach, but if you want a hardware wallet I would read up on the Ledger and the TREZOR, although these are difficult to find right now due to large demand.
submitted by dont_forget_canada to ethtrader [link] [comments]

New Level of Jackassery: A Long-Winded Story of a Minor BitCoin Folly

[Throwaway for reasons soon be obvious.]
TLDR: I spent a lot of effort making a nice paper wallet that I promptly left on the trunk of my car as I drove away. I found it in the street four hours later.
I had been trying to put together a secure setup for creating paper wallets. My plan involved a spare laptop and a bootable USB drive running some Linux distribution. Once complete I would use BitCoin Paper Wallet to print a high quality wallet in full color on card stock, and even use the hologram stickers sold to seal them. Then I'd store them somewhere safe.
With small children, I do not get as much time as I like to work on these types of projects, but after a week had passed, after I switched from Tails to Ubuntu, and after I finally came to a solution to persistent encrypted storage on the USB drive when Ubuntu is running the LiveCD (LiveUSB), I did it.
A laptop of mine recently lost its screen in a tragic fall from a precarious position, it made for a perfect air gapped computer to boot my USB drive to. Boot, login to encrypted drive, install the necessary fonts, install the printer driver, print, cut, seal with hologram, insert into plastic sleeve, import address, transfer 1 BTC to address and store paper wallet in secure location.
A few days later I pull one of the paper wallets I printed from my secure location to take to a birthday party my daughters were attending at the house of a friend of mine. I thought my friend might appreciate it. I carried it in my hand along with my two kids, a present for the birthday boy, and everything else a father needs when wrangling small children. I struggled loading the gear and the children safely, and decided to set the wallet on the trunk of my car.
I distinctly remember thinking to myself, "Don't forget to pick that up." I loaded the car and drove away.
Two hours later, at a pirate-themed birthday party at which I saw two small children in a Jeep power wheels toy run over other children because they didn't realize there was a steering wheel, I froze and I am sure I turned ghostly white.
My instinct was to rush home immediately, but my kids were having a great time and I couldn't quite explain to our host that I had to leave to retrieve $800 worth of card stock I printed on my computer and left on my car. I simply had to wait. I felt myself start into the five stages of denial. First up, denial. Maybe I had gotten it, and just forgot. Maybe the aerodynamics of the car are such that the paper just happened to stick to the trunk just in front of the spoiler (if that's what Honda wants to call that little nub).
After we left the party, at which I saw a piñata with a trap door that the parents just opened to release the candy, we left for home. As I entered our neighborhood I retraced my path from earlier in the day. I scanned the streets looking for anything that looked like a plastic sleeve. I saw nothing on the streets that led to mine.
As I turned the last corner onto my street a small glimmer caught my eye. I focused on it and made out a rectangular shape. I quickly parked, pulled out the child old enough to not wildly run into the street, and proceeded to run into the street myself without looking for traffic.
There is was, my BitCoin, snug in its plastic sleeve no worse for wear. My fears that someone had found it and I would spend a lifetime following how it would be spent over the years were gone. And it was in pretty good shape. I don't live on a high traffic street, but we were gone for four hours and my BitCoin must have had a few close calls. The sleeve looked great, and my holograms do not appear to have been tampered with.
I'm still transferring the funds to a new address ASAP.
Edit: Moved TLDR to top.
Edit Again: temper = tamper.
submitted by bitreckless to Bitcoin [link] [comments]

CMV: My wallet setup is secure

I've seen a lot of posts here advocating offline wallets because they are the most secure. I have no argument with that. But I also don't see how my online wallet could be compromised. I'd appreciate if you guys gave your analysis of how exactly someone could steal my coins. Here's my setup:
In my understanding, the only way someone could steal my coins is to have my password or seed, and to get either of those they would need to install a keylogger, and on linux a keylogger would need root access, which they could not get because I only install things from the ubuntu repo.
I think my coins are secure. Please, change my view.
EDIT: Δ. Thank you all. Your responses have brought me to the conclusion that, while loss of my coins with my setup are unlikely, it's worth it to move funds to a more secure setup. I'll probably move some coins to paper wallets soon.
EDIT 2: Confirmed that paper wallets are the direction I'd like to go. Just ordered a laser printer from Newegg, since they accept bitcoin now. ┗(°0°)┛
submitted by PoeCollector to Bitcoin [link] [comments]

How to set up a wireless printer on ubuntu, linux Bitcoin Mining on Ubuntu - YouTube How to setup a Bitcoin Node in Linux A guide for ... How to install Bitcoin Core wallet in any Linux distribution Bitcoin Mining on Ubuntu 18.10 - Bitcoin Mining Software ...

This is a project that lets you send GCode to an XYZ da Vinci prniter. It will also convert from a .3w file to .gcode and back, and can monitor and setup the printer as well. This works with newer printers that implement the version 3 serial protocol. These include the Nano, Mini W, miniMaker and Jr. line of printers among others. Electrum is one of Bitcoin’s most popular wallets. It uniquely walks the fine line between beginner usability and expert functionality. This guide introduces Electrum with step-by-step examples highlighting the most important beginner features. No previous experience with either Bitcoin or Electrum is needed. Learning Electrum requires practice. This guide will show you how whether you ... Plug in your printer via USB. If this is a fairly common printer, Ubuntu may allow you to start printing without any further configuration. The printer settings control panel has a feature that will let you print a test page. Do not continue to the next step until you are sure that Ubuntu is able to use your printer. Bitcoin is cool, and you know everyone wants in – even the ones who say they don’t. Show the world how cutting-edge you are with a bitcoin T-shirt, hoodie, bag, key-ring, even a Trezor ... The first mention of a product called bitcoin was in August 2008 when two programmers using the names Satoshi Nakamoto and Martti Malmi registered a new domain, bitcoin.org. In October of the same ...

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How to set up a wireless printer on ubuntu, linux

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