8

I don't have a dog, nor 10,000 Monero for that matter, so everything is OK :)!

But what happen if I lose the medium on which the wallet with my Monero is stored, or if it is destroyed? Hard disks fail, after all.

And if the wallet is not important (because block chain knows), does it mean that there is a way to restore a private key? Isn't that a security hole?

9

A Monero wallet can be recovered in a few ways:

  1. Recovering from the mnemonic seed that you should have written down when you made the wallet. See more instructions here.

  2. Recovering from the view key and the private key. See the usage in the development history here.

If you have any of these, it doesn't matter if you lose all your files to a house fire or your hungry dog.

11

When you create a new wallet, the software gives you a "mnemonic seed". It's a list of words that can be used to regenerate your wallet file and rescan the block chain to find your transactions.

By writing the seed on paper and storing it in a safe place (or by memorizing it if your memory is good), your moneros would not be lost forever in case of a dying hard disk (or hungry dog).

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