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Showing 4 of 4 results by Cryptofibe
Re: CGWatcher 1.3.4, a GUI/monitor for CGMiner & BFGMiner to help minimize downtime
Hi,
This is definitely fantastic software. I was looking at both github repositories and a thread from reddit (http://www.reddit.com/r/BitcoinMining/comments/1e9nbw/cgwatcher_version_114_release_includes_monitor/) that was quite old in regards to making this OSS. Could you please clarify if it is still your intentions to make these OSS, and what type of time frame you would anticipate before making commits on the Github Repos that you have created.
Thanks.
This is definitely fantastic software. I was looking at both github repositories and a thread from reddit (http://www.reddit.com/r/BitcoinMining/comments/1e9nbw/cgwatcher_version_114_release_includes_monitor/) that was quite old in regards to making this OSS. Could you please clarify if it is still your intentions to make these OSS, and what type of time frame you would anticipate before making commits on the Github Repos that you have created.
Thanks.
If I was to send myself payments to this address and in 5 years for example -- I would place wallet.dat back into another Bitcoin wallet, would it catch-up and find all the payments that were ever sent to that wallet?
Yes, it will catch up.
IMO,
5 years of time, the HDD or USB stick could be corrupted in hardware level. Low probability but could happen.
Preparing 2~3 USB sticks and storing identical wallet.dat file will be safer to keep it long. Also, check both USB's condition once a month, by mounting onto "linux or mac, offline computer" I wouldn't consider windows as a safe computer.
Lastly, if you encrypted wallet file, 5 years could be long enough time to forget your own password. There's no such thing as "reset password". Be very careful not to forget.
I appreciate the response. This pretty much answers my question. Yes, of course multiple immediate copies on multiple external storage. Perhaps even burning a copy of wallet.dat, a copy in .rar and .zip of the same file over multiple dvd copies would achieve the same purpose.
What about code changes or even "forking" as I have seen with some Alt-Coins. Does that not require some changes to the wallet.dat to remain valid?
Hi,
I would like to obtain some clarification on what are the technical best practices to safekeeping wallets. I apologize for my newbieness on this matter, but I am looking for some clear and concise advice on the following:
a. If I understand correctly, our unique wallet data is held in wallet.dat -- this is the most important file that uniquely represents our identifier on the bitcoin network.
This would be my hypothetical question.
Let's pretend that I downloaded a fresh Bitcoin client, extracted my address. Then immediately backed-up my wallet.dat on some type of offline storage for example. Then placed this offline storage in a vault
If I was to send myself payments to this address and in 5 years for example -- I would place wallet.dat back into another Bitcoin wallet, would it catch-up and find all the payments that were ever sent to that wallet?
Essentially, my proposed approach is to instantiate the Bitcoin Client once to have a wallet.dat generated and to obtain the associated address. Delete the wallet.dat for this not to be active on a computer connected to a network. Then store offline (hack-proof), and simply use the address to bank coins.
Are there any technical risks to this approach? E.g. Major Code changes that would negate such storage methodology?
Thanks in advance.
I would like to obtain some clarification on what are the technical best practices to safekeeping wallets. I apologize for my newbieness on this matter, but I am looking for some clear and concise advice on the following:
a. If I understand correctly, our unique wallet data is held in wallet.dat -- this is the most important file that uniquely represents our identifier on the bitcoin network.
This would be my hypothetical question.
Let's pretend that I downloaded a fresh Bitcoin client, extracted my address. Then immediately backed-up my wallet.dat on some type of offline storage for example. Then placed this offline storage in a vault
If I was to send myself payments to this address and in 5 years for example -- I would place wallet.dat back into another Bitcoin wallet, would it catch-up and find all the payments that were ever sent to that wallet?
Essentially, my proposed approach is to instantiate the Bitcoin Client once to have a wallet.dat generated and to obtain the associated address. Delete the wallet.dat for this not to be active on a computer connected to a network. Then store offline (hack-proof), and simply use the address to bank coins.
Are there any technical risks to this approach? E.g. Major Code changes that would negate such storage methodology?
Thanks in advance.
Well, I'm making a basic mining rig, 600mhz which is up gradable when I get more money. Is buying/making a mining rig worth it? I will be able to get it up to 2ghz in a few months.
I would suggest that you look into Alt Coins. I was confused by the metric that you are using (mhz and ghz), did you intend to describe that you are making a rig that will have 600 MH/s of capacity? If you do some research online, you will find that there are many web sites that can give you some earning calculations for Alt Coins. I recently began mining Alt/Scrypt coin and had to build several mining rigs, I find that the difficulty levels even there are rapidly rising.
Therefore, to address your initial question. I would say that buying or building a mining rig can definitely be worth it as long as you clearly understand all of metrics and details that comes with the territory of mining coins. This would include as another poster mentioned : Electricity Cost, but could extend to trading, choosing the right coin(s), etc..
Good Luck!