I know it's not Monday...

I'm looking for some information I'm confused on. I've been reading and reading and reading. Lurking on this forum and that subreddit. It's a lot of information to take in. There is some things I'm confused about.

The difference between an application like Bitcoin-Qt and a blockchain.info wallet.

And what is shared send? What are the pros and cons as compared to BitcoinFog?

Any help is greatly appreciated. I always appreciate links to relevant information as well. These subreddits are a great tool.


Comments


[1 Points] galaxyandspace:

Blockchain is an online wallet. You use their service to store your bitcoins. If it goes down, you lose your coins you had with them.

QT and Electrum and armory are software wallets. You store the funds on your computer hard drive, or wherever else you wish to store your coins. These programs are also helpful in creating "paper wallets". You shouldn't concern yourself with paper wallets too much, as they aren't super useful for goal of buying things from markets.

If you lose your copy of the wallet, bye bye goes the funds (there are a few exceptions and work arounds to this, like a seed string)

Shared vs. Fog

Shared send is open source and fog is not. Most of the major differences stem from this. Most people will say fog is safer, but it is also more expensive.

Fog could disappear with your coins any time. Shared send could not. is less likely to.

Shared send is also debateably more hackable, by any LE or anyone who like to fuck around.

Its mostly agreed upon that fog anonamizes you more securely, but shared send is not a bad, cheaper alternative for someone who is a small time buyer.