I'm interested in setting up a P2Pool node (which requires running
bitcoind) to run a little mining pool for myself. Before you ask, nope I'm not even trying to break even, I know I'll lose money on this. Just want to play around and get a feel for how these things work.
My question is: I hear over and over again that it's important to take security precautions with
bitcoind and wallets, but I've had trouble teasing out exactly what those security precautions are. If I have
bitcoind not accepting RPC calls (as is the default), is there any danger to using the out-of-the-box unencrypted wallet?
If the information helps, I'll probably run the node in EC2, and have a cron job that frequently transfers any bitcoins earned through mining into an account in an exchange so I can play around with that side of things as well (so I'm not worried about large sums of bitcoin building up in my