How would you store >100 Bitcoins? - page 14.

mrbigmugs

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Quote from: BingoDog on January 04, 2017, 10:00:39 AM

Probably the solution would be to store the coins in the multiple different wallets. The worst decision would be to keep bitcoins just in one place. And not to use online wallets.
But I guess I will never have such big amount of bitcoins, although I want to, so I will be not having such problems. Grin

if you select a trusted wallet for yourself and keep your money there. although blockchain, is a secured and trusted wallet but still if you keep your money in different wallets and not select a single one then it will be really good for you. through this way you can secure more your bitcoins.

jbreher

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Quote from: albama on January 06, 2017, 10:27:26 AM

I always say that you must download bitcoin wallet to store bitcoins in private address it's the same as cold storage, guy.

No, it most certainly is not.

RealBitcoin

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Quote from: albama on January 06, 2017, 10:27:26 AM

Quote from: lyth0s on August 03, 2014, 07:40:44 AM

Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc.

I'm looking for real responses and ideas. Please keep the trolling to a minimum Tongue

I always say that you must download bitcoin wallet to store bitcoins in private address it's the same as cold storage, guy.
If you have more 100 bitcoins, you should use cold wallet. it's safer than hot wallet.

Write it down to paper, and put it in the fridge.

But seriously, you should use cold wallet for even >5BTC, because it's not like a thief would not steal 5 BTC if he would have the opportunity.

Better keep all your money safe, not just the big money , but even the small one.

People dont deserve to get rich if they cant respect smaller funds.

albama

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Quote from: lyth0s on August 03, 2014, 07:40:44 AM

Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc.

I'm looking for real responses and ideas. Please keep the trolling to a minimum Tongue

I always say that you must download bitcoin wallet to store bitcoins in private address it's the same as cold storage, guy.
If you have more 100 bitcoins, you should use cold wallet. it's safer than hot wallet.

Invincible

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is anybody using a darkwallet?

bncbnc

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Quote from: chairul.muttaqin on January 04, 2017, 07:36:26 AM

Quote from: mombay on January 04, 2017, 06:30:54 AM

Split them into differents offline wallet, and when you need to spend them, send bitcoins from offline wallet to an online one, and use them.

Yes that is right, offline wallet is secure enough. If he has a good spec of computer, he should use bitcoin wallet with full sync client. The advantages is we will have all transaction data in bitcoin network, help to secure bitcoin network and this is the most secure one wallet also the privacy is really good too.

yes most of the online wallets are secure and good protected, but still you need to store your bitcoin in different wallet, as there is always chances to lose your wallet key and then you will lost your bitcoin present in that wallet.

johnnyyash

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Quote from: CrackedLogic on August 03, 2014, 07:52:50 AM

Quote from: Meuh6879 on August 03, 2014, 07:42:19 AM

every 5 or 10BTC ... use a new wallet.
i do this.

when you pay ... seller don't know if you have more than 5 or 10 BTC.

I should do this.

Same apply to me too.... I will it out and do this

RealBitcoin

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Quote from: Meuh6879 on August 03, 2014, 07:42:19 AM

every 5 or 10BTC ... use a new wallet.
i do this.

when you pay ... seller don't know if you have more than 5 or 10 BTC.

That would be very painsome, to manage 20x 5 BTC segements of wallets.

Besides the same way you created 1 wallet that can be stolen or hacked, all wallets can.

So unless you purchase 20 different computers and store it offline, then its a shitty method.

Why not just write it down on paper, and hide the paper in a plastic container under your sink, nobody will look for it there.

Yuuto

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Quote from: Darwintas on January 05, 2017, 10:30:19 PM

I would honestly safe it in a paper wallet offline so its good secured and cannot simply get stolen by someone.

Paper wallets can actually be stolen and they can be burnt, they are not waterproof, fireproof, not anything proof really. If you are just getting your private key down on something offline then I suggest cryptosteel. Doesn't even need to be printed and cannot be rigged. And fireproof, waterproof, rustproof as well. If you use that with a Trezor I think that is the maximum convenience + security available on the market right now.

Darwintas

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I would honestly safe it in a paper wallet offline so its good secured and cannot simply get stolen by someone.

aardvark15

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Definitely use an offline wallet. I would not trust any significant amounts to an exchange or online wallet. There are too many scams out there to trust anyone.

CoinCidental

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Quote from: n0ne on January 05, 2017, 09:38:51 PM

Quote from: CoinCidental on January 05, 2017, 09:13:13 PM

Quote from: avikz on January 04, 2017, 10:16:55 AM

Store these in multiple wallets. That is the only way to be safe and secure. Also don't forget to use a proper licensed version of any internet security package. This way you can increase the safety of your bitcoin.

Use hardware wallet and store a good amount of bitcoin there. Then use multiple online wallets like coinbase and blockchain. Store little amount in these two wallets. Remember, the more you diversify, the more safer your bitcoin will be.

The more you diversify, the more chance you will get locked out of your own coins....

I would keep it as simple as possible because I once forgot the password to a wallet with ~3000 btc in it....

I can't believe. Whether you mistakenly quoted bitcoin worth 3000$ or 3000 btc. That seems a very big value to be lost, these days with several security advancements I believe even lost password can be retrieved. Diversifying and holding into different wallet seems good than placing a big value together, though hacking is impossible but if hacked too losses can be reduced.

No it was 3000 bitcoins... Not $
I remembered the password after a couple of stressful days in 2013...

n0ne

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Quote from: CoinCidental on January 05, 2017, 09:13:13 PM

Quote from: avikz on January 04, 2017, 10:16:55 AM

Store these in multiple wallets. That is the only way to be safe and secure. Also don't forget to use a proper licensed version of any internet security package. This way you can increase the safety of your bitcoin.

Use hardware wallet and store a good amount of bitcoin there. Then use multiple online wallets like coinbase and blockchain. Store little amount in these two wallets. Remember, the more you diversify, the more safer your bitcoin will be.

The more you diversify, the more chance you will get locked out of your own coins....

I would keep it as simple as possible because I once forgot the password to a wallet with ~3000 btc in it....

I can't believe. Whether you mistakenly quoted bitcoin worth 3000$ or 3000 btc. That seems a very big value to be lost, these days with several security advancements I believe even lost password can be retrieved. Diversifying and holding into different wallet seems good than placing a big value together, though hacking is impossible but if hacked too losses can be reduced.

CoinCidental

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Quote from: avikz on January 04, 2017, 10:16:55 AM

Store these in multiple wallets. That is the only way to be safe and secure. Also don't forget to use a proper licensed version of any internet security package. This way you can increase the safety of your bitcoin.

Use hardware wallet and store a good amount of bitcoin there. Then use multiple online wallets like coinbase and blockchain. Store little amount in these two wallets. Remember, the more you diversify, the more safer your bitcoin will be.

The more you diversify, the more chance you will get locked out of your own coins....

I would keep it as simple as possible because I once forgot the password to a wallet with ~3000 btc in it....

FaucetRank.com

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Quote from: BingoDog on January 04, 2017, 10:00:39 AM

Probably the solution would be to store the coins in the multiple different wallets. The worst decision would be to keep bitcoins just in one place. And not to use online wallets.
But I guess I will never have such big amount of bitcoins, although I want to, so I will be not having such problems. Grin

It is better storing Bitcoins in other wallet than storing Bitcoin in paper wallet. You can print your Bitcoin on simple paper and than laminate that paper for safety or you can put that in bank locker if you have lot of Bitcoins.

avikz

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Store these in multiple wallets. That is the only way to be safe and secure. Also don't forget to use a proper licensed version of any internet security package. This way you can increase the safety of your bitcoin.

Use hardware wallet and store a good amount of bitcoin there. Then use multiple online wallets like coinbase and blockchain. Store little amount in these two wallets. Remember, the more you diversify, the more safer your bitcoin will be.

BingoDog

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Probably the solution would be to store the coins in the multiple different wallets. The worst decision would be to keep bitcoins just in one place. And not to use online wallets.
But I guess I will never have such big amount of bitcoins, although I want to, so I will be not having such problems. Grin

sportis

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According the big amount of bitcoins I believe the best solution is opendime bitcoin sticks. The advantage of these sticks is if you want to use the private key is that there is if private key revealed there is no way the opendime to be used again (sent many times, spend only once). After that I could buy not only one but a number of these and I could divide the number of bitcoins for each one of them. At last I would go to the local bank store. I would lend a bank deposit and I would keep all the sticks in this deposit. I believe it's an excellent solution for someone with many bitcoins and is cheap (every pack of 3 devices costs about $40). https://opendime.com/

Harlot

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I don't know if it will be ideal at all. I mean even if you create 1 wallet for each 10 BTC, isn't that not so safe? Because you need to manage 10 accounts which means you need to handle 10 passwords? For me thi is also risky. Maybe converting your Bitcoin into Fiat is a safe bet because you can put your Fiat into a bank which is more safer than any wallet.

chairul.muttaqin

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Quote from: mombay on January 04, 2017, 06:30:54 AM

Split them into differents offline wallet, and when you need to spend them, send bitcoins from offline wallet to an online one, and use them.

Yes that is right, offline wallet is secure enough. If he has a good spec of computer, he should use bitcoin wallet with full sync client. The advantages is we will have all transaction data in bitcoin network, help to secure bitcoin network and this is the most secure one wallet also the privacy is really good too.

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