Post
Topic
Board Beginners & Help
Re: Can a factory reset computer be used for cold storage?
by
KidPoker
on 08/11/2014, 15:35:05 UTC
-snip-

1. Disconnect the laptop from internet.

2. Run Bitcoin-QT or some program to generate your address.

3. Send the wallet to an USB.

4. Remove the USB.

5. Ctrl+Shift+Del your wallet details from the laptop. If possible, format it once.

6. Connect your laptop to the internet and send bitcoin to your address, whose details are in USB.

7. Just keep the USB detouched from all internet connections... and you are safe Smiley

By the way, is this 100% safe?

Nope, an advanced trojan could be transmitted to the offline system via USB, snatch your private keys and call home when possible (e.g. using your online machine to broadcast the signed TX). So this might be compromised the moment you try to spend the bitcoins (e.g. connect the USB stick to an online machine). You also have a single point of failure (the USB stick) if it breaks your coins are gone.

On the other hand: nothing is 100% safe.



So if your private keys are air gapped and if even using a usb to sign transactions isn't 100% safe, what is the alternative to signing transactions from an offline computer?