ARE PHYSICAL BITCOIN/LITECOIN MORE SECURED?

byt411

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Quote from: hilariousandco on February 13, 2014, 06:45:20 PM

Quote from: crypto2k on February 13, 2014, 06:18:17 PM

Do you think its more safe/secured to have all of your BTC/LTC coins in physical than in digital with all those mess and hacked with exchangers?

Your coins are only as safe as you are.

Quote from: byt411 on February 13, 2014, 06:20:32 PM

No. More secure yes, but perhaps not as secure as a offline computer.

How so? They might be arguably safer.

Melbustus kindly explained it.

odolvlobo

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Quote from: crypto2k on February 13, 2014, 06:18:17 PM

Do you think its more safe/secured to have all of your BTC/LTC coins in physical than in digital with all those mess and hacked with exchangers?

Physical BTC and LTC coins are nothing more than very fancy and expensive paper wallets. If you are looking for security, then a simple paper wallet is a better option. It is more secure because you don't have to trust someone with your private key, and it is a lot cheaper.

Physical BTC and LTC are great for collecting though. I have several.

oxfardk

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their purpose is to be fun but Physical bitcoin don't really exist as a currency

Automatic

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I'm actually wondering the same, I'm running Armory on an offline computer hosting two wallets, one with around 1.5BTC, another with around 2BTC (then, one 100% online wallet hosting ~ 0.03, 'spending' money).

I've considered making a paperwallet before (I have a paper armory backup, but, I'm talking about a 100% paper wallet), my only fear with that is I'm utterly shit with keeping physical objects secure, and, I'll probably end up losing the paper, I'm a lot less likely to lose a laptop (Granted, there's stuff like HDD failure).

Sonny

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Quote from: Melbustus on February 13, 2014, 06:37:52 PM

Quote from: crypto2k on February 13, 2014, 06:18:17 PM

Do you think its more safe/secured to have all of your BTC/LTC coins in physical than in digital with all those mess and hacked with exchangers?

Yeah, but the physical coins are really collectors' items; you destroy the numismatic value if you peel back the hologram to access the digital bitcoin, so I don't know why you'd seriously store funds you intend to use this way. They're a proof a concept; a conversation starter, collectors' item...

For proper safe-storage, use a cold-storage solution like Armory.

And never store more than pocket-change in online-services. Remember, if you do not solely possess the private key, you do not actually "own" or "control" the corresponding bitcoins.

Well said.

You should use offline wallet / paper wallet (with proper way to generate it of course) for safety.

sgtbrownpants

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Just get a nice offline bitcoin client and you should be plenty secure

hilariousandco

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Quote from: crypto2k on February 13, 2014, 06:18:17 PM

Do you think its more safe/secured to have all of your BTC/LTC coins in physical than in digital with all those mess and hacked with exchangers?

Your coins are only as safe as you are.

Quote from: byt411 on February 13, 2014, 06:20:32 PM

No. More secure yes, but perhaps not as secure as a offline computer.

How so? They might be arguably safer.

Melbustus

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Quote from: crypto2k on February 13, 2014, 06:18:17 PM

Do you think its more safe/secured to have all of your BTC/LTC coins in physical than in digital with all those mess and hacked with exchangers?

Yeah, but the physical coins are really collectors' items; you destroy the numismatic value if you peel back the hologram to access the digital bitcoin, so I don't know why you'd seriously store funds you intend to use this way. They're a proof a concept; a conversation starter, collectors' item...

For proper safe-storage, use a cold-storage solution like Armory.

And never store more than pocket-change in online-services. Remember, if you do not solely possess the private key, you do not actually "own" or "control" the corresponding bitcoins.

byt411

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No. More secure yes, but perhaps not as secure as a offline computer.

WuttWutt

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yes very secure wow

crypto2k

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Do you think its more safe/secured to have all of your BTC/LTC coins in physical than in digital with all those mess and hacked with exchangers?

Topic: ARE PHYSICAL BITCOIN/LITECOIN MORE SECURED? (Read 858 times)