4 Reasons Why Bitcoin Address Reuse Is Dangerous - HodlHard.io
What is Bitcoin Address Reuse? – The Merkle News
Bitcoin reuse address. : Bitcoin - reddit
wallet security - Is it safe to reuse a Bitcoin address ...
New exchange reusing Bitcoin addresses for withdrawals. Is it ok?
Me and my team are working on a Bitcoin exchange and we will be launching soon (yey!) Are primary focus is to make it extra secure. We concluded that we will require users to setup their withdraw address that will be used for any following withdrawals and it won't be generally possible to change it. I know that Bitcoin org officially discourage addresses reuse, but same say that it's actually fine or even beneficial to reuse it (e.g. http://www.contravex.com/2014/05/05/on-reusing-bitcoin-addresses/), making the topic somehow controversial. We believe that forcing a single Bitcoin address for all user's withdrawals will improve security, so even if someone gets access to user's exchange account he won't be able to withdraw any bitcoins. What do you guys think? Would you use an exchange that requires you to always withdraw bitcoins to the same address?
Still confused...why is it not secure to reuse bitcoin addresses?
I used the same address for 2 years with a 21 character alphanumeric password thinking it was ok. I understand that for privacy and not leaving a data trail its best to use new addresses but am i likely to be hacked using a static address even if its multi-sig? Thanks Edit: Thanks for all the feedback. I didn't expect this much but i guess its relevant to a lot of people too so that's good
Specific security risks of reusing the same Bitcoin address?
According to this page (which seems not to be updated for a long time), it's discouraged to reuse Bitcoin addresses. I use one specific long-time address for one-time transactions (once or twice in a year) and most of the specified "Problems" don't apply to me, e.g. it's a vanity address and I want it to be publicly known that it's my address - I don't want the transactions from/to this address to be private. So, the question is: How serious are the security implications when re-using the same address? (I am interested ONLY in security implications, I perfectly understand all others and I am willing to live with them.) Can someone really deduce my private keys from my transactions? Is this a theoretical risk or has it been documented? How many transactions do I have to make for this risk to be relevant? Two? Ten thousand?
Reusing Bitcoin Cash addresses is discouraged - but there are very legitimate use cases for reusing addresses. Here is an idea to get around the address reuse security problem.
The Bitcoin Cash addresses we usually deal with are not the actual public keys, but are hashed version of the public key. The only time the public key is revealed is when the address is spent. After an address has been spent, one layer of obscurity is removed. To always have the best security, never reuse addresses and we never have this problem. However, I think of charities that want to put Bitcoin Cash addresses in their marketing. For them reusing addresses is very important. There are of course many use-cases where reusing addresses is extremely convenient. So how can we solve this problem of the public key of an address being revealed during a transaction? I introduce to you...."Address Aliasing"!! You begin with a public address "A". You link it to Address "B" (since only "A" can give permission to be linked to another address, we must reveal A's public key, making "A" less safe). From this point on any funds sent to "A" will be spendable by "B". "A" will no longer be able to spend from "A" (that is the whole point of this excercise - A's public key is now known to everyone and it can be compromised more easily). When it comes to spending from "A", we use "B" public key - and in the SAME transaction alias "A" to "C". Once an address' public key is known, it will be considered "compromised" and it will not be accepted in any future transaction. Any funds sent to "A" are spendable by "C". Again, when we want to spend from "A", we use "C"s public key and alias "A" to "D" in the same transaction. At every step, the funds of "A" are always protected by a hashed public key. What do you all think? This is a solution for users/businesses that want the security of hashed public keys, but for reusable addresses. Sign me up!
What is a crypto address? Blockchain addresses are strings of text that are used to send or receive cryptocurrency. You can copy & paste them or share them as QR codes. Also, some addresses can only be used once (Bitcoin), others can be reused (Ethereum), similar to bank account numbers.
Why same address on MEW? A comparison to bitcoin...
I'm a holder or both Ethereum and Bitcoin. I'm posting this here because I much prefer the ethereum tech/community/spirit etc. I use Blockchain as a wallet for my bitcoin, and as far as I can tell my address is changed for each transaction. Now for my ethereum I use myetherwallet which as far as I can tell uses the same address for each transaction. Assuming that I'm right in the above (please educate me if not!) why is it unsafe or not recommended to reuse bitcoin addresses but seems less of an issue with ethereum?
"If ECDSA is broken, Bitcoin can remain reasonably secure if you don't reuse addresses." Is this true?
If this is actually true, what makes it true? That post is pretty old. Has anything significant changed? What's the recommended best practice these days if you need to reuse an address? For example you are a business and need to have a single address that can be published and it wouldn't be practical to keep constantly changing it? Is this also actually true: "(That is, an address's sent transactions might not actually be meaningful, related to its receipts, or even made by the person who receives money at that address.) "? If so, why would that be the case? It sounds like the OP is suggesting an address can somehow "send" bitcoins that it never "received" - how can that be?
Incorrect use of Bitcoin change addresses account for many cases of loss or theft of funds. Here are some disaster scenarios and ways to avoid them. 1. Backup Failure. Alice uses an old version of Bitcoin-Qt. Understanding the importance of backups, she created an encrypted wallet backup long ago and stored it in a safe place. After making dozens of transactions with Bitcoin-Qt, Alice’s hard ... Reusing addresses can have negative implications such as diminished privacy and diminished security. The most private and secure way to use bitcoin is to use a brand new address for every transaction. Why is address reuse discouraged? Address reuse is discouraged for multiple reasons. The one that is most apparent is that it is bad for your privacy (and the privacy of others). Since every ... Bitcoin addresses are derived randomly by generating a private and public key pair. When an address is generated both the private and public keys are secret to everyone except the owner of the wallet. At this point your address has 100% security assuming the device that it is stored on is not compromised already. When you provide someone with your bitcoin address to send you funds they do not ... Bitcoin does not, at a low level, have any concept of addresses, only individual coins. Address reuse, at this layer, requires producing multiple digital signatures when you spend bitcoins. Multiple situations have been found where more than one digital signature can be used to calculate the private key needed to spend bitcoins. Even if you spend all the bitcoins claimed by this private key at ... Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin.
Bitcoin Q&A: Derivation paths and watch-only wallets
How To Find Bitcoin addresses with Balances (Android/Mobile) - Duration: 4:20. Myo Ko 9,160 views. 4:20. Best Free Video Editing Software in 2020 - Duration: 6:43. ... This video is unavailable. Watch Queue Queue. Watch Queue Queue Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in Bitcoin. He is the author of “Mastering Bitcoin,” “The ... #Bitcoin is pseudo-anonymous. This means that while your Bitcoin address doesn’t reveal identifiable details, all transactions and the wallet addresses involved are recorded publicly. How do I know that my private key was generated randomly? Could rogue developers of wallet applications access the private keys? Problems with fake wallets. ...