Privacy is the main thing. If you only have one address, anyone who knows that address knows your entire BTC balance and transaction history.
Topic: Any reasons i shouldn't move all my Bitcoin savings into a single address? (Read 925 times)
April 04, 2013, 12:54:01 AM
April 04, 2013, 12:50:01 AM
I suppose you could, but you'd have to be of course 100% sure that the place you were moving it to was secure, I wouldn't think if you have a lot of Bitcoins on you keeping it all in one place would be a good idea, i know it might seem unlikely, but if someone did ever get wind of where you hid your Bitcoins then if they were all in one location they'd all be gone and then you'd feel like an idiot for not spreading them out into batches. As far as I'm concerned no place can be 100% secure though so that's why I'd keep it on several addresses and on several machines, that way if one goes down then you don't have to deal with a huge loss and have a chance of stopping the person trying to steal from you.
Oh and having more addresses to move Bitcoins from also attracts less attention from the authorities as well as criminals
Oh and having more addresses to move Bitcoins from also attracts less attention from the authorities as well as criminals
April 04, 2013, 12:30:09 AM
I don't got much (well not as much as most people that mention how much they got), but i've been thinking, perhaps it might be a good idea to just create a new address and put all those little fractions in a single address with a fee-less transaction (i don't plan on touching that money anytime soon so waiting a few days for the transaction to get thru wouldn't be an issue for me) now while it is still possible to transfer small values without paying for the transfer than to forget about it and some point in the future endup with unspendable money 'cause of the rise of fee price and requirement.
Can anyone think of a reason i shouldn't do this?
Can anyone think of a reason i shouldn't do this?
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