Silk Road forums

Discussion => Security => Topic started by: FiendATR on August 25, 2012, 03:36 pm

Title: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: FiendATR on August 25, 2012, 03:36 pm
Hello, im new here and have been doing my reading to learn how to make purchases properly. i wont be able to make a purchase for about 2 weeks roughly due to having family around the house. seeing as thought i dont know how long bitcoins will take to get into my account etc and because ive never done it before i was thinking of buying some bitcoins through the mail with v1ad1m1r. i was wondering if its safe to leave bitcoins in the silk road wallet for a few weeks? as i swear i read something before about the possibility of coins being mined or something, is that true or will it be ok in the SR wallet until the 7th? thanks!!
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: 751a696c24d97009 on August 25, 2012, 03:45 pm
You'll be fine. Yes, coins are mined. That doesn't mean they'll be "mined" out of your wallet, it's just how the coins are generated.
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: FiendATR on August 25, 2012, 03:53 pm
ahh thank you very much! i did try searching through the forum to find where i think i read this before, but i thought id make a thread to be 100% sure
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: Carbonic on August 25, 2012, 05:44 pm
Yeah the only thing you might have a problem with is the volatility of the BTC market. By leaving them in there for a week, you're effectively investing in bitcoins, and if they go up, you'll gain buying power but they might go down and you'd have lost money.
I wouldn't worry too much about it, but with the normal volatility of the market, and the whole pirateat40 affair still recent, it's something to keep in mind.
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: nirvana101 on November 06, 2012, 09:08 am
I have a question regarding the Silk Road eWallet, if I were to do occasional purchases (say.. once every 2-3 months) on SR, is there any problem with just using my SR bitcoin address/wallet and not making a third party wallet? So effectively I'd be buying bitcoins, getting them in my SR account, and then making the purchase on SR as soon as I see the bitcoins in my account?

Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: CoolGrey on November 06, 2012, 09:25 am
Yes that is pretty safe. Nobody will steal your bitcoins out of your SR wallet if you keep the password secret. The value of bitcoin may increase or decrease a bit, so when you come back they may be worth a little less or a little more, but I don't expect the difference to be huge.

Only if something happens to SR, you may have trouble accessing your coins. The safest way is to store BTC is to have a BitCoin client on your own (virus free and encrypted, preferably Linux) computer.
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: nirvana101 on November 06, 2012, 09:35 am
Yes that is pretty safe. Nobody will steal your bitcoins out of your SR wallet if you keep the password secret. The value of bitcoin may increase or decrease a bit, so when you come back they may be worth a little less or a little more, but I don't expect the difference to be huge.

Only if something happens to SR, you may have trouble accessing your coins. The safest way is to store BTC is to have a BitCoin client on your own (virus free and encrypted, preferably Linux) computer.

Cool, thanks for the info man. I just figure it's easier to make transactions in one go (i.e. buy coins for my SR wallet then spend asap) without having to worry about keeping bitcoins on a USB or whatever, but wasn't sure if I was missing something advantageous about having another wallet, although I guess the fluctuation of value would be a reason to keep a separate wallet.
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: beaner on November 06, 2012, 11:52 am
I feel safer leaving my BTC in my SR account than on my computer, ie people trying to steal them, computer stolen etc. I trust that my coin is safe in SR 8)
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: CoolGrey on November 06, 2012, 12:51 pm
Cool, thanks for the info man. I just figure it's easier to make transactions in one go (i.e. buy coins for my SR wallet then spend asap) without having to worry about keeping bitcoins on a USB or whatever, but wasn't sure if I was missing something advantageous about having another wallet, although I guess the fluctuation of value would be a reason to keep a separate wallet.
You will always have fluctuation, it doesn't matter what kind of wallet you use.

I feel safer leaving my BTC in my SR account than on my computer, ie people trying to steal them, computer stolen etc. I trust that my coin is safe in SR 8)
If somebody steals my computer and tries to start it, all they will see is: "Enter passphrase:". If you keep an backup of your bitcoin account on a USB stick (also encrypted), then your bitcoins are pretty safe. But SR is a good option too, it saves you that trouble.
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: FoxyTorGirl on November 06, 2012, 02:08 pm
I've had it in for a few months, and it was fine....
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: sinnfein1488 on November 06, 2012, 03:18 pm
I've had it in for a few months, and it was fine....

Yeah, I've had quite a bit of coin in my wallet for over a month now with no issues at all.
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: wsg on November 06, 2012, 10:29 pm
I didnt want to leave mine in SR so I bought drugs...they didnt last 2 weeks  safer to leave BTC in SR I think  :)
Title: Re: Safe to leave bitcoins in silk road wallet for 2 weeks or so?
Post by: 3r3 on November 09, 2012, 12:36 am
You'll be fine. Yes, coins are mined. That doesn't mean they'll be "mined" out of your wallet, it's just how the coins are generated.

You made a funny, I was laughing so hard I woke up the neighbors.
Keeping your coins in SR is safe, nobody will touch them.
But make sure you have a backup wallet in your account settings
to be on the safe side.