Author: phantomcircuit 2011-06-16 18:24:01
Published on: 2011-06-16T18:24:01+00:00
In a discussion on Bitcoin security, Jeff Garzik and Luke-Jr agreed on the importance of wallet security. However, they also pointed out that wallet encryption only eliminates bad PR rather than being a significant crime deterrent. On IRC, zooko suggested introducing a built-in air-gapped wallet facility to prevent loss of everything in case of losing one's everyday transactional wallet, but Luke-Jr still expressed concern over an insecure PC being vulnerable to hacking attempts. Jeff proposed a solution in the form of his scratch off branch modified to use email as a unique salt, which would eliminate the need for a static wallet.dat for 99% of the userbase. He believed this approach is more effective than encryption, although it remains vulnerable to key loggers. The discussion highlighted the criticality of security measures in the world of Bitcoin and how it may force people to reconsider their priorities when it comes to online security.
Updated on: 2023-05-26T18:17:37.652004+00:00