Topic: Best way to store and forget btc? (Read 7490 times)

Paper wallet + Armory

But I promise I will take you in my heart  

I hope they do.  That would make the value of the ones left sky rocket. 

Spend the $200 it costs for a Piper paper wallet generator.  Never connect it to the network and you can be sure that the paper wallet you use cannot be hacked.

You can always pass me the BTC and forget about it... 

Do send to  1BitcoinEaterAddressDontSendf60kuE.   I have the private keys for those.     

I have split my holdings into 2 mediums:

1) Paper wallets - laminated, triplicated & buried (This holds the least amount of bitcoins)
2) Encrypted Wallet.dat stored in an encrypted KeyPass file in a TrueCrypt volume and sent to Friends and Relatives using BitSync.  Plus an offline backup & USB sticks.

The passwords are split across two safe deposit boxes at 2 different banks plus inside in my head.

I have hidden three different encrypted copies aboard different trains. Hidden of course.





If I ever need to retrieve a USB key, I simply buy a ticket for a specific train/route.

Create three copies of your wallet.dat or your paper wallets.

Encrypt these copies with three different, strong passwords.

Store this copies at three different and safe locations (e.g. bank deposit boxes at different banks) each with the passwords for the other copies.

This way your bitcoins are safe if one of your copies gets compromised or stolen but you can still access them through the other two copies.

nice
but I think there was untold word that we also want to get back the BTC.... and I dont thionk your offer is two-way, it just one way street, to send bitcoins to you...

One idiot has sent 0.559 btc to that addr: https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE

My scheme is as follows.  I have a couple of whole disk encrypted bootable USB keys with live installations of Windows 8 Enterprise.  Those USB sticks have offline Armory and, of course, all the private keys are password protected with very strong passwords.

In addition to that, I have paper backups of all my wallets, and those backups are in fire proof safes in 3 different locations. 

Sometimes I think back to early 2011 and how I stored my bitcoins just to freak me the fuck out.  There was a time when all of my bitcoins where on MtGox and I didn't even have 2FA.

Oh GOD!, Why oh Why does such an address exsist?! It's like a "kill bitcoin by doing this" address, or "increase the value of remaining coins by prooving you destroyed XYZ amount"
My gosh!, If the GOV learns about this address they could just start buying coins and then destroying them!!

You do know that the latest keylogware also make screenshots? Not just registering the buttons you push on your keyboard?

I am using the Armory Wallet and strongly recommend it!

For the paranoid, there is Armory.

https://bitcointalksearch.org/topic/armory-discussion-thread-56424


You get deterministic wallets.



You also get offline wallets.

http://bitcoinarmory.com/about/using-our-wallet/#offlinewallet


An interview with Alan Reiner, founder and CEO of Armory Technologies and lead developer on the open source Armory Wallet project, can be found at:

http://letstalkbitcoin.com/e55-happy-birthday-bitcoin/#.Unj_z-VX98E (around 16:00)

i store my wallet.dat in a cloud service and on local USB drives just to make sure. My password is in my head and on 2 different locations written on paper and stored.

i guess im pretty secure, also i never type in my password, i always use my screenkeyboard to dodge keylogging software

1) goto bitaddress.org
2) click "github Repository"
3) click "bitaddress.org.html"
4) copy the contents into a text file which you name "bitaddress.html"
5) copy that file onto a USB stick
6) get a linux "live CD" (like from http://www.knoppix.org/)
7) remove all internet connectivity from you computer
8) boot from the "live CD"
9) wait...
10) insert USB stick, open "bitaddress.html" in a browser
11) chose "single wallet" and click a couple of times
12) print the page, and copy the Bitcoin Adress (1....) into a textfile on the USB stick so you do not have to type it in all the time when sending from your computer.
13) remove CD, reconnect to web, reboot
14) done

You can now send coins to your paper wallet from your mobile phone by scanning the QR code.
To spend the coins, simply enter the private key (the one starting with 5) into any bitcoin wallet of your choice.



for extra fun, you can insert these here steps INSTEAD OF step 11).
you can do this parallel, or you might have done it beforehand.
my advise would be to generate bot parts of the password at different times on different machines.

1) goto strong password generator.com
2) chose "25" and check "Punktuation"
3) click "Generate Strong Password"
4) copy the phrase behind "Remember your Password as:" down, manually
5) repeat 2 - 4 write down the second passphrase seperately, laminate the paper, make copies, store seperately!
6) in bitaddress.html, chose "Brain Wallet"
7) enter both passphrases, seperated by a comma
8) take a picture of the QR-Code of the Bitcoin address Only  (right-click, show image) and write down the Bitcoin address manually
9) send coins into the addres

why this is extra fun?
you could engrave one passphrase into a piece of jewelery (eg a ring) or a piece of metal, then hide it in the wall of your house (plaster over it).

To recreate your wallet and spend the coins, simply use both passphrases again on the bitaddress.html and enter the private key (the one starting with 5) into any bitcoin wallet of your choice.
Tadaa!

Might be a good idea to get the paper wallet laminated. I've had several important paper documents destroyed by mold (I live in a damp house)

Never is a long time.