What is a Quantum Computer Attack?

A Quantum Computer attack is that very fast computers could be used to find the private key from the Bitcoin address. The general though is that as these computers begin to be developed the Bitcoin can move to a different algorithm that cannot be solved by quantum computers. This will affect many things in addition […]

How Do I Verify I Downloaded the Correct Bitcoin Software?

The Bitcoin software also includes cryptographic keys to verify. To do this on Windows (This is an example for version 0.8.1. Change the version number if needed):

-Download the Bitcoin software

–Download sha256sum.exe

-Open up a Command prompt. Type in the full path to sha256sum.exe and the file you downloaded. For example:

C:\Users\MyUserName\Downloads\sha256sum.exe C:\Users\MyUserName\Downloads\bitcoin-0.8.1-win32-setup.exe

-The […]

How Do I Choose a Strong Password?

Password security is general security and is not specific to Bitcoin but a discussion is important when managing bitcoins.

Most passwords used to secure accounts are weak. They can be difficult to crack because if the account is at a web site they will normally lock you out after a few tries. Being hard for […]

What Are The Risks of Using an Online Wallet?

Bitcoin is still experimental and some of the business are not using good practices. Also, banks are unclear of the regulations and may close accounts of companies rather than take the risk of maintain the account. There is also risk of regulation.

-An online site generally has control of the “private key” to your bitcoins […]

How Do I Store Bitcoins Long Term?

Storing any significant amount of bitcoins should be done offline. The easiest thing to do is get an old computer and keep it permanently offline. (You may use “dual boot” methods but that requires some technical expertise). An old laptop works well and Lubuntu can be loaded which is a free Linux operating system for […]

How Do I Store My Bitcoins Securely?

Since there is no central authority in charge it is up to the user to secure their bitcoins. Online wallets may do that for you but they normally have ultimate control over your funds. Some of these online wallets services have been hacked and, in some cases, customers have lost bitcoins.

The most secure way […]