Topic: Gold collapsing. Bitcoin UP. - page 1465. (Read 2032274 times)

So much for the gold bears:


Triple bottom bitches:

http://sovereign-investor.com/2012/06/01/how-to-get-ready-for-the-next-leg-of-the-gold-rally

Also a very complicated way that requires another computer to be left offline. Is there a real issue with creating a private key and storing it off the computer for a later import in which case the bitcoins can then be sold and the excess bitcoins can be sent to a new private key stored offline? I don't think my computer is vulnerable to any malware and is there even malware that can steal generated keys and send them when the computer is next connected to the internet?

Obviously, offline wallet devices would be nice like the card readers the banks use to protect cardholder data. I know people are working on these.

I need to have the keys on paper as my memory is not reliable.  

What!! Just put them all in with Pirate and roll the dice baby!!

GO BIG OR GO HOME!!

Do this.  This is by far the safest and easiest way to secure a personal stash of bitcoins.

yes, better get them. I use intersango regularly and am content all-in-all, but the volume there is probably not enough for your purposes.

If you think liquidity is an issue, you could try to find some big fish to sell to you without moving the markets.

Any way you do it, I'd recommend going slow and also distributing amongst different exchange mechanisms. Don't just upload 250K USD to mtgox and hope everything will be fine. Do it in batches and grab the coins to your secure location whenever there are some.

For secure storage a couple of possibilities in order of personal preference (ascending):

    * buy a couple of casascius 1 BTC coins and store your coins on them ((+), (-) you trust casascius, requires safekeeping (against theft and loss) of single coin)

    * use one of the brainwallet suggestions ((+) it's only in your brain, (-) but to sign you need to import into some client which is attackable)

    * use vanity-gen to generate random address, print the private key and put in safe location for later import into a wallet ((+) simple, low dependency impact, (-): requires safekeeping (against theft) of a non-encrypted private key)

    * improvement for vanity-gen-approach: encrypt the keys before you copy/store them.

    * use separate pc with armory, encrypted wallet (use long pw), make paper-backup of wallet seed, never connnect machine to internet, create watch-only-copy of the wallet and import that into another, this time well-connected instance of armory (allows to generate new addresses without also generating the private key). To transfer money, you'll need to generate a signing request, transfer that to the offline machine, sign it there, transfer the signed transaction back to well-connected armory for publishing.

^{just my 20 mikes...}

oh my.

Yes there is but it has to be controlled by a horse type thing:

there is absolutely no such thing in existence...

get ready:

+67!!  the collapse has inverted!!

that'll never change.

It was mostly the bank transfer fees. They used to be ridiculous from what I remember.

i've always used just mtgox.  wire them money, buy Bitcoins, and immediately transfer them to offline wallet.  pretty safe.  glad to hear the fees are better now.

Also Nautilus Minerals announces potential delay to vessel build: http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=528418&_Type=News-Releases&_Title=Nautilus-identifies-potential-delay-to-Vessel-Build

And more seriously: http://www.nautilusminerals.com/s/Media-NewsReleases.asp?ReportID=528424&_Type=News-Releases&_Title=Nautilus-dispute-with-the-State-of-PNG

Down over 20%. Knew there would be issues along the way.

I do have bitcoin... about 1.3 bitcoins... all of it donated, won, or from the faucets. The thing that has kept me back from buying is largely the security aspect, also MtGox was really expensive but isn't as much anymore. I still don't trust it very much because of the security issues it has had. What do people say about Intersango or any other exchanges?

Better get them while they are still around $5.

@silverbox: Might as well put my liquid investments into something like bitcoin is what I am saying. Also I have some money in ETFs and was some in stocks last year (but not now) but now my the broker I use is introducing an annoying quarterly fee. I just want a trading commission! :-(

And yes, having an investment tied up for xyz months may seem risky but when considering the discount you are immediately in the green and you would only do so if you were happy the price would be up by xyz months. The important consideration past this is the required liquidity.

You can always hedge the position as well.


Keep your brain safe. Look both ways when crossing roads etc.

I have mine in brainwallet.

GLD is an ETF, its value per share is not the same as a troy ounce of gold.  Its ~156 atm.  Cypher is upside down on his short, he can cover here with a small loss or sit on it and hope it goes lower..  

If you want to invest in PM's and have it liquid, buy ETF's or Miners..  Physical IMO is best for a long term investment.