3. Problem - Sia Offline wallet

Problem - Sia Offline wallet

  • I

    I have downloaded Sia offline wallet ( " Sia-UI-v1.1.0-win32-x64 " ) to my laptop in Feb 2017.
    My questions :

    1. IF I withdraw my Sia coins from Polonies to Sia offline wallet ,
      Can I store Sia coins with more secure than Poloniex
    2. If my lap damaged or stolen or occurred any hard disk error (damage/not accessible/ need replace ) ,
      what will be happen to the Sia coins that stored in my lap ?
      are there any recovery ?
      any backups ?
      will all Sia coins be lost ?

    thank you

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  • admins

    1. Yes, as long as you are good about protecting your offline wallet and keeping it offline, it should be more secure than storing on Poloniex.

    2. As long as you have the seed to the wallet on your laptop, you can recover the coins in the event of damage. You can use the seed to get the coins back. This means that other people can use your seed to steal the coins, so keep that seed safe :)

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  • I

    For 2 : Thats mean If I (or anyone) can remember my Seed password , I (or anyone) can access my offline wallet in worldwide after downloading Sia offline wallet ?

    By this way our coins can be backup but offline wallet is not completely offline :) it is in the Sia network , Am I correct ?

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  • admins

    Essentially, yes. Anyone in the world can get your coins knowing just your seed.

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  • I

    @taek Thank you for the informations :) hope you will be able to success Sia project.

    Good luck :)

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  • R

    Hi!
    This looks like a security risk.
    A seed for recovering wallet (balance) from the blockchain is good, as it is long and hard to guess. I would say it is the best and simplest way for disaster recovery as you can write it down and store in the simplest "offline" (paper) form in a safe place.
    But.
    The problem is- it is needed every time you want to unlock your wallet. As the seed is pretty long, people will tend to hold it in a file and copy-paste it into the unlock wallet window. And that is the security risk.

    Would it be possible in some foreseeable future to make a second something (password) for unlocking and a different one (seed) for recovery?

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  • @reinisp this is actually already the case; when you initialize a wallet in Sia-UI there is a checkbox that allows you to specify a unlock password separately from your seed, or you can use siac wallet init -p if you're using the command line interface.

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  • R

    @johnathanhowell
    Oh. Thanks for the information!
    I initialised my SIA wallet September last year, and did not notice that.
    I would be happy to enable this feature afterwards...

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