Silk Road forums

Discussion => Security => Topic started by: Merino on June 27, 2012, 12:36 am

Title: Two Quick Bitcoin Questions
Post by: Merino on June 27, 2012, 12:36 am
I have a few bitcoin questions. I have read a bit on the forums and offer many apologies if these questions have been covered.

I am using Liberte to connect to SR. Does the bitcoin wallet I'm going to use for SR need to be set up and accessed exclusively within Liberte?

I can meet a person soon to buy btc for cash face to face. If I understand what I've read correct I'm then "good to go" right? I live in an area with heavy bitcoin use so I believe I should be able to buy btc regularly.
Title: Re: Two Quick Bitcoin Questions
Post by: bbuyer76 on June 27, 2012, 12:46 am
I have a few bitcoin questions. I have read a bit on the forums and offer many apologies if these questions have been covered.

I am using Liberte to connect to SR. Does the bitcoin wallet I'm going to use for SR need to be set up and accessed exclusively within Liberte?

No it does not have to be setup exclusively, it would add an extra layer to your security but the bitcoin network does not store ip address when a transaction takes place, it just stores the addresses the coins came from and are going too and the sum sent / received.

You can use bitcoin block explorer http://blockexplorer.com/ to look at the history of all your coins as can anyone else.


I can meet a person soon to buy btc for cash face to face. If I understand what I've read correct I'm then "good to go" right? I live in an area with heavy bitcoin use so I believe I should be able to buy btc regularly.

All you need to buy btc is a receiving address, your computer does not even need to be switched on, the network alocates the coins to that address and when the wallet with that address downloads the new blocks, the coins will show in that wallet.

I hope this is of some help :)

regards
Title: Re: Two Quick Bitcoin Questions
Post by: 4903kmn1d on June 27, 2012, 01:29 am
bbuyer76 is correct, no you do not need to use your bitcoin wallet exclusively within Liberte for SR. To make it a bit clearer for you:

1. Someone deposits ฿ to your wallet (long sequence of letters and numbers)
2. After you receive the ฿, you deposit those ฿ to your SR wallet (found on your SR account page http://silkroadvb5piz3r.onion/account)
3. Viola - your SR account balance has increased

It is very important that you create a copy of the wallet.dat file for your wallet and keep it in a safe location, the reason is that if you lose your wallet.dat file, you will lose all of your ฿ in that wallet.

HTH
Title: Re: Two Quick Bitcoin Questions
Post by: jameslink2 on June 27, 2012, 01:34 am
It is very important that you create a copy of the wallet.dat file for your wallet and keep it in a safe location, the reason is that if you lose your wallet.dat file, you will lose all of your ฿ in that wallet.

This should be repeated! My version of BTC corrupted the wallet when the system crashed. I made a backup on my encrypted pen drive by chance and was luckily that I could recover it otherwise I would have been out 50 BTC.
Title: Re: Two Quick Bitcoin Questions
Post by: Merino on June 27, 2012, 09:41 am
Thank you very much for advice. Especially the wallet.dat tip. That should be incorporated into the "beginner's anonymous SR guide."

Got a 9am appointment to buy some coin.  ;D

Title: Re: Two Quick Bitcoin Questions
Post by: Drewington3258 on June 27, 2012, 12:27 pm
Thank you very much for advice. Especially the wallet.dat tip. That should be incorporated into the "beginner's anonymous SR guide."

Got a 9am appointment to buy some coin.  ;D

I dont know why the wallet.dat isnt incorporated into the SR guide, because if you lose it your basically fucked and cant make transactions with it. Its probably the most important thing to backup yet no turtorials on here mention it.
Title: Re: Two Quick Bitcoin Questions
Post by: Merino on June 27, 2012, 03:41 pm
Guide to backing up your btc wallet:

https://en.bitcoin.it/wiki/Securing_your_wallet