Anyone know what happened to knightmb and his 371,000 BTC? - page 16.

ScriptGadget

newbie

Activity: 49

Merit: 0

Quote from: knightmb on May 05, 2011, 08:40:00 AM

She was really skeptical about my purchase this week.

You are my hero.

Definitely consider an encrypted printout. With the proper inks and paper it could last 100 years and survive a fire in a firesafe. Magnetic and optical media are too fragile to store value.
http://www.ollydbg.de/Paperbak/index.html

You can build your own algorithm and tool even.

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

Quote from: knightmb on May 02, 2011, 10:04:03 AM

Quote from: marcus_of_augustus on May 01, 2011, 03:32:18 AM

knightmb:

How much?

PM me if you want to move large amounts.

Hehe

It's just going to sit at the bank for now until the investors decide what to do with it. The irony is, they think the project is a bust, so I've requested to take over ownership of it but never mentioned anything about it's current value because they have never bothered to check since last year. Can you believe all the "smart business" people that told them that BTC was just a waste of time for them? Shows how smart they were.

Far out. So let me get this straight. You have just secured the ownership of the keys to 371k btc for USD$5k because the initial investors wanted out and can't be bothered to check current trading value of BTC .... and your wife is skeptical!?

That's epic.

As I said earlier, if you need to move large amounts contact me ... or have your wife contact me if she is still skeptical.

TiagoTiago

hero member

Activity: 616

Merit: 500

Firstbits.com/1fg4i :)

The more people access somthing on Freenet the more it gets copied around, and there are some tricks to put things together so if people access one thing they actually copy everything (like if you put the stuff inside a zipfile, or add your file into an image with steganography)

But AFAIK, if no one tries to access it for too long the storage space will eventually be used to store somthing else.

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: knightmb on May 05, 2011, 08:40:00 AM

Good news for me anyway Tongue

, they sold me the project for $5k to recover some of their cost. I now technically own the wallet files and other software I was working on with them at the time. For legal reasons I can't blurt out who the investors were or the banks, companies, etc. they were representing basically (unless I won't to land in court forever), but I think I made a wise investment. It's still going to take a while to get my wife on board as she still doesn't understand the whole BTC concept, but everyone here knows and I know what it means. She was really skeptical about my purchase this week.

I'll probably take some of the backup advise here too, why have a few backup copies when you can have many on different media types spread around everywhere (all encrypted of course this time).

Thanks for the advise everyone!

JohnDoe

sr. member

Activity: 392

Merit: 251

Quote from: TiagoTiago on May 05, 2011, 05:02:18 AM

What will keep people seeding the torrent?

Now that you ask I'm not sure lol, didn't think it through. I guess some people would just feel good seeding, either because they are helping others or because they are sticking it to the government. A more reliable incentive I can think of is to track the upload rates of people so that they could potentially be used as a measure of reputation.

Quote from: TiagoTiago on May 05, 2011, 05:02:18 AM

Perhaps you could encrypt your wallet and hide it steganographicly into something that people are interested in inside Freenet.

I'm very ignorant about Freenet. Would it be safe to leave the wallet there and come back to it after getting out of prison 3 years later or would it be gone by then?

Quote from: knightmb on May 05, 2011, 08:40:00 AM

Good news for me anyway Tongue

, they sold me the project for $5k to recover some of their cost. I now technically own the wallet files and other software I was working on with them at the time

Nice! I'm shocked that they didn't spend all of 30 seconds checking the price of bitcoins before selling.

bitlotto

hero member

Activity: 672

Merit: 500

BitLotto - best odds + best payouts + cheat-proof

Quote from: FreeMoney on May 03, 2011, 03:55:32 AM

Get 1M coins.
Get another computer.
Load Bitcoin on it. Do not connect to internet. Do not download blocks.
Write down an address from this wallet.
Encrypt wallet. Delete original.
Send coins to the address.
Wait.....
Unencrypt. Spend.

I'm wondering though. Huh

Couldn't someone make a custom client that rather than generate a random address create the address you are sending the money to? No public key would exist for it yet in the network so when someone else who is connected creates the address their public key would be the one for that address. I guess if that was true, it would still work as long as you didn't tell anyone what that address was as someone randomly creating the same address would be highly unlikely.

knightmb

sr. member

Activity: 308

Merit: 258

Good news for me anyway Tongue

, they sold me the project for $5k to recover some of their cost. I now technically own the wallet files and other software I was working on with them at the time. For legal reasons I can't blurt out who the investors were or the banks, companies, etc. they were representing basically (unless I won't to land in court forever), but I think I made a wise investment. It's still going to take a while to get my wife on board as she still doesn't understand the whole BTC concept, but everyone here knows and I know what it means. She was really skeptical about my purchase this week.

I'll probably take some of the backup advise here too, why have a few backup copies when you can have many on different media types spread around everywhere (all encrypted of course this time).

Thanks for the advise everyone!

TiagoTiago

hero member

Activity: 616

Merit: 500

Firstbits.com/1fg4i :)

What will keep people seeding the torrent?

Perhaps you could encrypt your wallet and hide it steganographicly into something that people are interested in inside Freenet.

JohnDoe

sr. member

Activity: 392

Merit: 251

Quote from: Jaime Frontero on May 04, 2011, 01:53:00 AM

sort of like a wallet blockchain?

I guess? Just a simple torrent that gets updated with new wallets once or twice a year would do. Maybe there's a better way of doing it.

Jaime Frontero

full member

Activity: 126

Merit: 100

Quote from: JohnDoe on May 03, 2011, 08:32:51 PM

Quote from: jimbobway on May 02, 2011, 10:09:27 AM

Putting on 2 CD-R and Flash doesn't seem to be enough for 300,000K bitcoins. Maybe you can tease us by encrypting the wallet with TrueCrypt, give it a 20 char password, and post it here. You can be sure the wallet will continue to exist on the Internet and it will be safe.

I've always thought it'd be cool to have a torrent going with a bunch of wallets just in case governments make it a strategy to identify and destroy all the backups that a person might have, or in the case that someone goes into a comma for like a decade and after waking up realizes that all the other backups are gone for some reason.

sort of like a wallet blockchain?

JohnDoe

sr. member

Activity: 392

Merit: 251

Quote from: jimbobway on May 02, 2011, 10:09:27 AM

Putting on 2 CD-R and Flash doesn't seem to be enough for 300,000K bitcoins. Maybe you can tease us by encrypting the wallet with TrueCrypt, give it a 20 char password, and post it here. You can be sure the wallet will continue to exist on the Internet and it will be safe.

I've always thought it'd be cool to have a torrent going with a bunch of wallets just in case governments make it a strategy to identify and destroy all the backups that a person might have, or in the case that someone goes into a comma for like a decade and after waking up realizes that all the other backups are gone for some reason.

Gavin Andresen

legendary

Activity: 1652

Merit: 2311

Chief Scientist

Quote from: molecular on May 03, 2011, 04:12:08 PM

Quote from: dacoinminster on May 02, 2011, 07:44:52 PM

When you go to the bank and get your CD-R and set the wallet up again, all your bitcoins that you sent to that wallet will magically appear.

you have to use -rescan for the magic to work, though, afaik.

Bitcoin 0.3.21 puts a 'bestblock' entry in the wallet so it will automatically -rescan if you restore an old wallet (and it only rescans the blocks necessary to get up-to-date).

molecular

donator

Activity: 2772

Merit: 1019

Quote from: dacoinminster on May 02, 2011, 07:44:52 PM

What's cool about having your savings account on a CD-R in a safety deposit box at the bank is that you can STILL send bitcoins to that wallet!

When you go to the bank and get your CD-R and set the wallet up again, all your bitcoins that you sent to that wallet will magically appear.

you have to use -rescan for the magic to work, though, afaik.

Quote from: dacoinminster on May 02, 2011, 07:44:52 PM

If I ever have lots of bitcoins, that's what I'll do

I only have some, but also entertain an extra savings-account.

The wallet.dat does not exist in unencrypted form. The encrypted one I emailed to lots of friends and also put on some removable media.

SgtSpike

legendary

Activity: 1400

Merit: 1005

Quote from: m4rkiz on May 03, 2011, 08:59:31 AM

Quote from: cypherdoc on May 02, 2011, 03:27:00 PM

but then u can't send btc to that 2nd wallet from the 1st wallet on the same computer.
my goal is to save the majority of my btc on a flash drive in my safe and not have to pull it out for several months. then i'd have a 2nd wallet with spending money on my computer. should i just send the btc to a client on another computer? is the wallet.dat file interchangeable btwn mac and pc clients?

just use multiple accounts to send between them, each user have wallet created in different place

flash drive is not good idea, if it fails there is small chance of recovery of wallet, backup on 3-4 different mediums and two locations is minimum that you have to do to be safe

personally i have backup of savings wallet on three separate disks in my pc (all with full disk encryption) and copy on external drive and attachment on email account

after i found out that my bitcoins are worth over 6k usd i added dvd-ram, microsd card and base64 copy printed on laser printer on another location

all of course with heavy encryption Tongue

i know it is a bit paranoid, but different medium, different location is a must have for long term backup

A printed copy isn't a bad idea either... I mean, heck, you can always OCR it back in, and convert it from whatever base you put it in. And if the OCR fails, you could hand-type it all. It'd probably be worth whatever is in your wallet at that point...

Just in case all your electronic media fails.

m4rkiz

full member

Activity: 170

Merit: 100

Quote from: cypherdoc on May 02, 2011, 03:27:00 PM

but then u can't send btc to that 2nd wallet from the 1st wallet on the same computer.
my goal is to save the majority of my btc on a flash drive in my safe and not have to pull it out for several months. then i'd have a 2nd wallet with spending money on my computer. should i just send the btc to a client on another computer? is the wallet.dat file interchangeable btwn mac and pc clients?

just use multiple accounts to send between them, each user have wallet created in different place

flash drive is not good idea, if it fails there is small chance of recovery of wallet, backup on 3-4 different mediums and two locations is minimum that you have to do to be safe

personally i have backup of savings wallet on three separate disks in my pc (all with full disk encryption) and copy on external drive and attachment on email account

after i found out that my bitcoins are worth over 6k usd i added dvd-ram, microsd card and base64 copy printed on laser printer on another location

all of course with heavy encryption Tongue

i know it is a bit paranoid, but different mediums at different locations is a must have for long term backup

LMGTFY

hero member

Activity: 644

Merit: 503

Quote from: cypherdoc on May 03, 2011, 04:36:20 AM

ok, i get it. takes me alittle while sometimes. basically he was stating the same thing i was about storing your btc in the block chain in the network except he is saying you can send ALL of them up there and use a different wallet. and theoretically you can wait an infinite time if btc survives. have any of you had the balls to save your btc this way?

With 999,999 BTC? Not just "no", but "heck, no"! I've not actually tried it with toy money, either, though I've always assumed it's (a) possible, and (b) very cool ;-) Might give it a go later - but with 0.00999999 BTC, not 999,999 BTC...

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

Quote from: cypherdoc on May 03, 2011, 04:18:30 AM

Quote from: FreeMoney on May 03, 2011, 03:55:32 AM

Quote from: cypherdoc on May 03, 2011, 03:19:49 AM

Quote from: dacoinminster on May 02, 2011, 07:44:52 PM

What's cool about having your savings account on a CD-R in a safety deposit box at the bank is that you can STILL send bitcoins to that wallet!

When you go to the bank and get your CD-R and set the wallet up again, all your bitcoins that you sent to that wallet will magically appear.

If I ever have lots of bitcoins, that's what I'll do

this strategy intrigues me the most. what you're basically saying is that if i have a million btc in my wallet today i could send 999,999 of them to one of my receiving addresses right now but before i receive them i can close the btc client, disconnect my computer from the internet, back up my wallet.dat and encrypt it, go and stick multiple copies of it everywhere,but the bottom line is that all 999,999 btc will be stored in the block chain out on the network ready and waiting for me to download them to my wallet.dat when i want to recover them in 10 yrs or so. is that about right? yes or no answers please.

Yep.

Get 1M coins.
Get another computer.
Load Bitcoin on it. Do not connect to internet. Do not download blocks.
Write down an address from this wallet.
Encrypt wallet. Delete original.
Send coins to the address.
Wait.....
Unencrypt. Spend.

are you saying this is a way to double spend?

Nope. Just restating the coolness.

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: LMGTFY on May 03, 2011, 04:27:19 AM

Quote from: cypherdoc on May 03, 2011, 04:18:30 AM

Quote from: FreeMoney on May 03, 2011, 03:55:32 AM

Quote from: cypherdoc on May 03, 2011, 03:19:49 AM

this strategy intrigues me the most. what you're basically saying is that if i have a million btc in my wallet today i could send 999,999 of them to one of my receiving addresses right now but before i receive them i can close the btc client, disconnect my computer from the internet, back up my wallet.dat and encrypt it, go and stick multiple copies of it everywhere,but the bottom line is that all 999,999 btc will be stored in the block chain out on the network ready and waiting for me to download them to my wallet.dat when i want to recover them in 10 yrs or so. is that about right? yes or no answers please.

Yep.

Get 1M coins.
Get another computer.
Load Bitcoin on it. Do not connect to internet. Do not download blocks.
Write down an address from this wallet.
Encrypt wallet. Delete original.
Send coins to the address.
Wait.....
Unencrypt. Spend.

are you saying this is a way to double spend?

Nope, they're saying that a wallet doesn't need to be online to send bitcoins to it :-)

ok, i get it. takes me alittle while sometimes. basically he was stating the same thing i was about storing your btc in the block chain in the network except he is saying you can send ALL of them up there and use a different wallet. and theoretically you can wait an infinite time if btc survives. have any of you had the balls to save your btc this way?

LMGTFY

hero member

Activity: 644

Merit: 503

Quote from: cypherdoc on May 03, 2011, 04:18:30 AM

Quote from: FreeMoney on May 03, 2011, 03:55:32 AM

Quote from: cypherdoc on May 03, 2011, 03:19:49 AM

this strategy intrigues me the most. what you're basically saying is that if i have a million btc in my wallet today i could send 999,999 of them to one of my receiving addresses right now but before i receive them i can close the btc client, disconnect my computer from the internet, back up my wallet.dat and encrypt it, go and stick multiple copies of it everywhere,but the bottom line is that all 999,999 btc will be stored in the block chain out on the network ready and waiting for me to download them to my wallet.dat when i want to recover them in 10 yrs or so. is that about right? yes or no answers please.

Yep.

Get 1M coins.
Get another computer.
Load Bitcoin on it. Do not connect to internet. Do not download blocks.
Write down an address from this wallet.
Encrypt wallet. Delete original.
Send coins to the address.
Wait.....
Unencrypt. Spend.

are you saying this is a way to double spend?

Nope, they're saying that a wallet doesn't need to be online to send bitcoins to it :-)

cypherdoc

legendary

Activity: 1764

Merit: 1002

Quote from: FreeMoney on May 03, 2011, 03:55:32 AM

Quote from: cypherdoc on May 03, 2011, 03:19:49 AM

Quote from: dacoinminster on May 02, 2011, 07:44:52 PM

What's cool about having your savings account on a CD-R in a safety deposit box at the bank is that you can STILL send bitcoins to that wallet!

When you go to the bank and get your CD-R and set the wallet up again, all your bitcoins that you sent to that wallet will magically appear.

If I ever have lots of bitcoins, that's what I'll do

this strategy intrigues me the most. what you're basically saying is that if i have a million btc in my wallet today i could send 999,999 of them to one of my receiving addresses right now but before i receive them i can close the btc client, disconnect my computer from the internet, back up my wallet.dat and encrypt it, go and stick multiple copies of it everywhere,but the bottom line is that all 999,999 btc will be stored in the block chain out on the network ready and waiting for me to download them to my wallet.dat when i want to recover them in 10 yrs or so. is that about right? yes or no answers please.

Yep.

Get 1M coins.
Get another computer.
Load Bitcoin on it. Do not connect to internet. Do not download blocks.
Write down an address from this wallet.
Encrypt wallet. Delete original.
Send coins to the address.
Wait.....
Unencrypt. Spend.

are you saying this is a way to double spend?

Topic: Anyone know what happened to knightmb and his 371,000 BTC? - page 16. (Read 81631 times)