Encrypting Bitcoin Wallets - Reading Assignment

Bitcoin Attacks
#222

  1. Becuase otherwise it’s like someone finding my physical wallet with cash in it. He can just spend it or steal it.

  2. He gets the private keys. He can use my funds.

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#223

  1. Why is it important to encrypt your wallet?
    If someone steals your private key, he has access to your funds.
    With an encrypted wallet the key is protected with a passphrase.

  2. What is the risk of not having a password if an attacker gets access to your file system?
    The attacker can copy the wallet.dat file that contains the private key.

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#224
  1. It’s important to encrypt your wallet to protect your funds and potential hacks.

2.The risk is that without a password the entire contents of my wallet might be stolen.

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#225

  1. Becaue if it is not encrypted it will be easyer for thieves to steel your private keys and such.

  2. duh thats like your first line of defense, most people reuse 1 pass word for everythin, or have various renditions of it,… Strong random pass words will be a major help when it comes to stopping some wouldd bee people from getting at your coins

4…

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#226

1- Because even if the attacker gains acces to the device he won’t be able to access my funds.
2-The attacker could access my key files and steal my funds.

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#227
  1. so it cant be hacked
  2. they can get access to the wallet.dat file and steal your bitcoin
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#228
  1. Why is it important to encrypt your wallet? — because a file wallet.dat holds private key to bitcoin and access to this would mean access to your bitcoins
  2. What is the risk of not having a password if an attacker gets access to your file system? — they can access your funds
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#229
  1. Why is it important to encrypt your wallet?
    SO hackers cant get your private key from your wallet.dat
  2. What is the risk of not having a password if an attacker gets access to your file system?
    They can simply empty your wallet
#230

Reading Assignment : Encrypted Bitcoin Wallets (Answers)

  1. For protection against thieves, most traditional systems dont have encryption on their Wallet.dat file.
  2. The risk of losing all Bitcoin stored in the wallet, its best to protect your private keys with a “passphrase” encryption.
#231
  • Why is it important to encrypt your wallet?
    yo can protect your coins in your wallet from hackers even is your computer is hack.
  • What is the risk of not having a password if an attacker gets access to your file system?
    They can simply open the wallet and spend my coins .
#232
  1. To avoid other people to steal and spend your crypto.
  2. He will get my wallet.dat file and read the private keys.
#233

  1. Why is it important to encrypt your wallet?
    To protect your coins in the wallet

  2. What is the risk of not having a password if an attacker gets access to your file system?
    Attackers can spend the coins in the wallet file which they can access

#234

  1. In order to protect your funds in your wallet.

  2. Attackers can spend your coins instantly.

#235
  1. Why is it important to encrypt your wallet?

It is important in order to maintain your wallet.dat file (storage of funds) secure.

  1. What is the risk of not having a password if an attacker gets access to your file system?

The attacker could access the unencrypted wallet.dat containing your private key and easily steal your funds.

#236

Why is it important to encrypt your wallet?
otherwise anybody who gets your computer can access it and spend your crypto.

What is the risk of not having a password if an attacker gets access to your file system?
Same as Q1. No password means easy access to my crypto.

#237
  1. Why is it important to encrypt your wallet? So no one can steal/spend your coins.
  2. What is the risk of not having a password if an attacker gets access to your file system? The attacker could spend my coins instantly.
#238
  • 1 It is important because otherwise anyone with access to your device would have access to your wallet and, even worse, could use it
  • 2 The attacker could get access to the wallet.dat folder, steal your private keys and spend your funds
#239

Why is it important to encrypt your wallet?
Enable you to lock your coins from being spent.
In an event of an attacker gaining access to your device on which your bitcoin is running, they would not be able to do anything with the funds unless they also had your passphrase.

What is the risk of not having a password if an attacker gets access to your file system?
The file that holds the digital ownership by default is not encrypted by default

#240

To protect your own coin. Otherwise could be stolen and all gone

#241
  1. because of the risks of not having a password if an attacker gets access to your system
  2. they can much more easily access your funds with your private key if you don’t have a password for it–a password for your password.