Post
Topic
Board Service Discussion
Re: Stolen Bitcoin
by
DannyHamilton
on 28/07/2015, 00:36:53 UTC
Thats interesting and i hear that the first time.

Really?  This has been well established since blockchain.info wallet was first announced.  How did you manage to participate in this forum long enough to become "Legendary" status without understanding that blockchain.info receives encrypted private keys and does not receive the decryption key?

By not using online wallets. Tongue

I never understood why someone would put his coins to a website that only serves as a wallet when he could hold his coins safe at his own home too.

Sure, but previously when you said:

Online wallets are too insecure for me. I mean why taking the risk to give another person all your bitcoins only for letting them lay there?

Someone responded explaining:

blockchain.info never gets access to your private keys.  They are stored on their server encrypted, but the encryption/decryption occurs in your browser, so they cannot steal your coins.

You do understand that your wallet doesn't actually have your bitcoins, right?  Your bitcoins (to the extent that they even exist) are represented in the blockchain that every full node has a copy of.  Your wallet is just storing your private keys for you.  If there is malware running on your computer, it can steal your bitcoins (by gaining access to your private keys) just as easily from your desktop wallet as from a web based wallet like blockchain.info.