Post
Topic
Board Beginners & Help
Re: [General] Bitcoin Wallets - Which, what, why?
by
LoyceV
on 02/12/2016, 14:45:20 UTC
Good initiative!

Bitcoin Core
.. Bitcoin Core routed through Tor is considered one of the best ways to use Bitcoin privately.
I suggest adding a link to https://www.torproject.org/ to the word "Tor".

Bitcoin.org: Choose your wallet has a good overview too. It does not mention blockchain.info though. You (Lauda) also don't mention it, while it is (one of) the most used wallet(s), so I think it should be in the list, including it's drawbacks or even reasons why not to use it.

I think it would be good to add a section on brain wallets, and the importance of good passwords. Bitaddress.org for instance offers Brain Wallets. It has a warning to use a strong password, but I don't think enough people know that passwords like {1summer2leo3phoebe are not strong enough (source) and can be hacked brute force.

It's the first time I read about OPENDIME. I like the idea, but:
-it costs $12.50 (plus shipping) per piece.
-if this would be used by many people, someone could make fake hardware that verifies okay, making it no better than an expensive paper wallet (I've seen many fake Chinese USB-sticks in the past).
-you don't know if the manufacturer knows the private key. The FAQ explains that OPENDIME can't know the key, but a fake manufacturer could make a compromised fake device.
-if it breaks, you lose your money. I've had normal USB-sticks that stopped working after a few years.
With this in mind, I think OPENDIME is more of a gimmick than a serious wallet, which doesn't fit this list.