Topic: Bitcoin Surging Means New Storage Fears as Users Take Extreme Measures (Read 222 times)
October 20, 2017, 05:52:38 AM
That's really an extreme ultra cold storage to store the bitcoins in a sophisticated storage with extreme security varieties located in the mountain, it is like a gold bars now about how they treat its storage, never blame them because of the bitcoins price sudden increases everyday, it is good for the multi millionaires bitcoin holders and big personalities to store their coins there, but for us we are contended with the Trezor or ledger nano s and for cheaper ways we use paper wallets.
October 20, 2017, 05:00:18 AM
Lol for real? Storing bitcoins in a mountain? I prefer Nano Ledger S.. I can handle the responsibility and I can forgive myself if it goes wrong
You got to be real paranoid to store bitcoins in a mountain.
You got to be real paranoid to store bitcoins in a mountain.
October 20, 2017, 04:37:35 AM
using a third party like XAPO, no matter how safe they claim to be and how deep their vault goes in the mountain is not a safe way of storing bitcoin and it certainly is not "extreme measure" it is an idiotic measure if you ask me.
services like XAPO, COinbase or any other one that does the same, are good and useful but they are NEVER good for storing your bitcoin.
in fact we created bitcoin so that we no longer need any of these third parties to shore our money for us! using them means going back to before where we started!
services like XAPO, COinbase or any other one that does the same, are good and useful but they are NEVER good for storing your bitcoin.
in fact we created bitcoin so that we no longer need any of these third parties to shore our money for us! using them means going back to before where we started!
October 20, 2017, 04:29:18 AM
Bitcoin millionaires are now a thing, and so are thousandaires. It’s been a good, good year for users of the world’s most popular cryptocurrency. With sums exceeding expectations by a lot, problems arise. Keeping it all on a smartphone no longer seems reasonable. Exchanges prove insolvent. And so storage has become an obsession, leading to interesting extremes and hardware innovations.
Swiss Mountain Storage
“This is not a race. It is a chess game, Xapo’s head of security, Carlos Rienzi, warns. “You have to think about the opponent’s next movement. You can never relax.”
Xapo was born ultimately from its founder’s trials in his native Argentina. Known as its Great Depression, it lasted half a decade, decimating peso holders, wiping out savings. CEO Wences Casares’ home country contracted nearly thirty percent; poverty and indigence rates combined to include seventyfive percent of its population.
He would later explain finding bitcoin to be something of a revelation, and a potential answer to persistent emerging economic regions’ plights.
Billed as combining “the convenience of an everyday bitcoin wallet with the security of a deep cold storage,” Xapo has since grown to include former Secretary of the US Treasury Lawrence Summers as an Advisor.
Demand for services caused it to contract with Deltalis, giving the phrase “deep cold storage” literal meaning. Its facility is in the birthplace of Switzerland’s independence, the canton Uri — inside a mountain, to be exact.
“Where the Swiss military built one of its primary command and control centers, Deltalis has found optimum levels in security and stability,” company press notes. The 10,000m2 mountain spot is “further enhanced with a multilayer security concept, full redundancy and a strong IP and IX connectivity from international carriers.”
Joon Ian Wong, Quartz technology reporter, gives a sprawling account of lengths newly minted bitcoin millionaires will go to keep their holdings free from tamper.
Xapo’s Deltalis wing has “two more portals inside the suite: the first leads to an operators’ room, and the second to a “cold room.” The cold room is encircled with steel slabs to form a Faraday cage: a barrier that protects against a possible electromagnetic pulse (EMP) attack that could wipe out the data—and thus the keys to the bitcoin—stored in the room.”
Readers might not be in dire need of Swiss mountain cold storage, however.
In no way endorsements nor recommendations, news.Bitcoin.com asked a few staff members how they’re navigating bitcoin’s increased value of late.
All mentioned they keep slight access to funds on their smartphones. One staffer elaborated, “I like iOS, because it is end to end encrypted and Apple analyzes apps before approving them.” When asked about fully encrypted phones such as Blackphone 2 by Silent Circle, “Yeah that’s extreme. Maybe if you’re a bitcoin millionaire.”
As for cold storage, offline proper, “I like my Trezor but Trezor 2 is coming out soon,” a staffer mentioned. “Ledger is good and [less expensive].”
Another staffer jumped in, agreeing, “I love my Ledger Wallet Nano S. It is awesome. I have used it for a year without any problems and it [allows] you to store a variety of altcoins as well. I bought my wife the Keepkey, because Shapeshift has just been integrated into it, and it is aesthetically pleasing. It is great.”
Swiss Mountain Storage
“This is not a race. It is a chess game, Xapo’s head of security, Carlos Rienzi, warns. “You have to think about the opponent’s next movement. You can never relax.”
Xapo was born ultimately from its founder’s trials in his native Argentina. Known as its Great Depression, it lasted half a decade, decimating peso holders, wiping out savings. CEO Wences Casares’ home country contracted nearly thirty percent; poverty and indigence rates combined to include seventyfive percent of its population.
He would later explain finding bitcoin to be something of a revelation, and a potential answer to persistent emerging economic regions’ plights.
Billed as combining “the convenience of an everyday bitcoin wallet with the security of a deep cold storage,” Xapo has since grown to include former Secretary of the US Treasury Lawrence Summers as an Advisor.
Demand for services caused it to contract with Deltalis, giving the phrase “deep cold storage” literal meaning. Its facility is in the birthplace of Switzerland’s independence, the canton Uri — inside a mountain, to be exact.
“Where the Swiss military built one of its primary command and control centers, Deltalis has found optimum levels in security and stability,” company press notes. The 10,000m2 mountain spot is “further enhanced with a multilayer security concept, full redundancy and a strong IP and IX connectivity from international carriers.”
Joon Ian Wong, Quartz technology reporter, gives a sprawling account of lengths newly minted bitcoin millionaires will go to keep their holdings free from tamper.
Xapo’s Deltalis wing has “two more portals inside the suite: the first leads to an operators’ room, and the second to a “cold room.” The cold room is encircled with steel slabs to form a Faraday cage: a barrier that protects against a possible electromagnetic pulse (EMP) attack that could wipe out the data—and thus the keys to the bitcoin—stored in the room.”
Readers might not be in dire need of Swiss mountain cold storage, however.
In no way endorsements nor recommendations, news.Bitcoin.com asked a few staff members how they’re navigating bitcoin’s increased value of late.
All mentioned they keep slight access to funds on their smartphones. One staffer elaborated, “I like iOS, because it is end to end encrypted and Apple analyzes apps before approving them.” When asked about fully encrypted phones such as Blackphone 2 by Silent Circle, “Yeah that’s extreme. Maybe if you’re a bitcoin millionaire.”
As for cold storage, offline proper, “I like my Trezor but Trezor 2 is coming out soon,” a staffer mentioned. “Ledger is good and [less expensive].”
Another staffer jumped in, agreeing, “I love my Ledger Wallet Nano S. It is awesome. I have used it for a year without any problems and it [allows] you to store a variety of altcoins as well. I bought my wife the Keepkey, because Shapeshift has just been integrated into it, and it is aesthetically pleasing. It is great.”
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