How would you store >100 Bitcoins? - page 17.

Herbert2020

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Quote from: MyBTT on August 30, 2016, 09:01:30 PM

Quote from: bravehearth0319 on August 30, 2016, 08:54:33 PM

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.

Your idea was a good tip of advice, I'll copy your suggestion/idea but instead of 5 bitcoin for every new wallet address I'll make it 10btc each. With that amount I'll save a lot of money.

*sigh* It doesn't cost anything to make a new wallet. What you need is something to secure your wallets. But the best option would just be to secure one wallet extremely securely, as I recommend with a ledger wallet.

maybe he is talking about fees, although it would be ridiculous to think about a tiny fee when you have 100 bitcoin.

also it is possible that he thought about buying a new hardware wallet for keeping each 5 or 10 bitcoin

anyways, i think for larger amounts of bitcoin you should buy a secure hardware wallet and put your mind at ease (although i am talking about buying one and moving all the 100 to that wallet!)

drwtsn32

sr. member

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It's not that I have 100 BTC but this is my idea if I ever have:

I would not need that big BTC if I don't have a plan to invest it and if I do, of course it's gonna be stored to the site/s I invested into.
So otherwise, I'm gonna withdraw it and keep the cash to myself instead. I can't trust the internet to hold that much money for me.

coynedterm

hero member

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I can't imagining of 100btc as of now I have only 1.456btc in blockchain wallet. Even if I could earn 100 btc then I would choose to store them in 10 different wallet , so if hacker try to steal from my wallet then he would try all my 10 wallets (it's just my imagination) . And I manage to earn 100btc then I would donate 20btc for welfare of the nation, environment and other causes.

MyBTT

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Merit: 250

Quote from: bravehearth0319 on August 30, 2016, 08:54:33 PM

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.

Your idea was a good tip of advice, I'll copy your suggestion/idea but instead of 5 bitcoin for every new wallet address I'll make it 10btc each. With that amount I'll save a lot of money.

*sigh* It doesn't cost anything to make a new wallet. What you need is something to secure your wallets. But the best option would just be to secure one wallet extremely securely, as I recommend with a ledger wallet.

bravehearth0319

hero member

Activity: 1022

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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.

Your idea was a good tip of advice, I'll copy your suggestion/idea but instead of 5 bitcoin for every new wallet address I'll make it 10btc each. With that amount I'll save a lot of money.

MyBTT

sr. member

Activity: 378

Merit: 250

Definitely in 3 Ledger wallets, stored in three different places. You could use a multiig service and make each ledger hold it's own key. That's the safest that I can think of.

Hohenn

newbie

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Quote from: pandalion98 on July 05, 2016, 09:25:41 PM

I'd store it in a web wallet, with a password that's at least 6 characters in length.

Of course I won't do that. I'd probably do this:

Quote from: Dabs on July 05, 2016, 09:09:38 PM

Paper wallet. (Plastic, Steel, Wood, Whatever.)

Put in bank safe deposit box. Only you can open it, together with the bank employee.

I would probably split the coins into chunks of 50 or 25 or 10.

I'd do exactly the same, I would try to be really cautious as well. Maybe split it even further.

jackg

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Activity: 2856

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https://bit.ly/387FXHi lightning theory

Quote from: BitcoinSupremo on August 30, 2016, 11:39:46 AM

Quote from: groll on July 26, 2016, 01:46:09 AM

Quote from: to_the_game on July 05, 2016, 08:12:24 PM

i think i would put it into a hardware wallet most probably

Putting it in a hardware wallet is also risky, since physical hardware can also fluctuate or may be damaged. The best thing to do is create a multiple wallet in different servers and site and also some in physical hardwares. It is best to have a diverse savings than a single item to put your btc into. If you lost one then there are many others that are left.

Ledger Nano HW.1 guarantees a life span of 500.000 cycles which is equal to 30 years of real life time. The cost is really low and its worth it. It works really well and it hasn't any major flaws so far. I insist that anyone who has more than 20 BTC should hold them in a safe hardware wallet like Ledger or Trezor. If the coins were hacked the only one to blame is the person not holding them like they should be holded when in really high amounts.

But you don't really want to store all that in one wallet. Though ulnikely, if something happens, you're left without your coins. Many methods should really be done to keep these coins safe (such as by putting them in multiple wallets and splitting them up).
I'm not sure how it is guarenteed for 500,000 cycles and the coins are still prone to things like theft and other elements such as fire (which is always likely with electrical appliances).

BitcoinSupremo

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Quote from: groll on July 26, 2016, 01:46:09 AM

Quote from: to_the_game on July 05, 2016, 08:12:24 PM

i think i would put it into a hardware wallet most probably

Putting it in a hardware wallet is also risky, since physical hardware can also fluctuate or may be damaged. The best thing to do is create a multiple wallet in different servers and site and also some in physical hardwares. It is best to have a diverse savings than a single item to put your btc into. If you lost one then there are many others that are left.

Ledger Nano HW.1 guarantees a life span of 500.000 cycles which is equal to 30 years of real life time. The cost is really low and its worth it. It works really well and it hasn't any major flaws so far. I insist that anyone who has more than 20 BTC should hold them in a safe hardware wallet like Ledger or Trezor. If the coins were hacked the only one to blame is the person not holding them like they should be holded when in really high amounts.

jonald_fyookball

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Activity: 1302

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Core dev leaves me neg feedback #abuse #political

Quote from: mrkevio on July 26, 2016, 01:33:33 AM

I wouldn't store that much money in Bitcoin. Never. I'd exchange it and keep that amount of cash somewhere safe, IN MY HOME. Banks are here to earn money, I don't trust them... In my country the banks state in the agreement that, if the bank will ever fail, ALL the sums AND stored goods will be used to recover the money lost by the bank. So you're basically helping someone who fails by giving all you have. NO.

what country?

CoinBreader

hero member

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what iv done with mine bitcoin (which is way much less )
3 cold storages (1 SSD , HDD, USB stick) 3x amount and 1 paper wallet if i had more than 100 id used more wallets and prolly a RAID-0 cold storage with SSD based disks better safe than sorry ! Cool

groll

sr. member

Activity: 336

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Quote from: to_the_game on July 05, 2016, 08:12:24 PM

i think i would put it into a hardware wallet most probably

Putting it in a hardware wallet is also risky, since physical hardware can also fluctuate or may be damaged. The best thing to do is create a multiple wallet in different servers and site and also some in physical hardwares. It is best to have a diverse savings than a single item to put your btc into. If you lost one then there are many others that are left.

mrkevio

full member

Activity: 210

Merit: 100

I wouldn't store that much money in Bitcoin. Never. I'd exchange it and keep that amount of cash somewhere safe, IN MY HOME. Banks are here to earn money, I don't trust them... In my country the banks state in the agreement that, if the bank will ever fail, ALL the sums AND stored goods will be used to recover the money lost by the bank. So you're basically helping someone who fails by giving all you have. NO.

croutonhexagon

full member

Activity: 238

Merit: 100

I will Store this amount of Bitcoins in Different Paper wallets For Security Because 100 Btc is a Very Large Amount So I Don't want to Store this amount In Online Wallet because in Online wallets the Risk of Losing passwords, Hackers Involved...

OROBTC

legendary

Activity: 2926

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Quote from: Dabs on July 05, 2016, 09:09:38 PM

Paper wallet. (Plastic, Steel, Wood, Whatever.)

Put in bank safe deposit box. Only you can open it, together with the bank employee.

I would probably split the coins into chunks of 50 or 25 or 10.

Yes, that was what I was thinking as I clicked onto this thread.

Unless you are RICH (and so not hurt much by losing them), I would split my hoard of BTC into different wallets, and carefully store them. Paper wallets are more bother for me, so I would store them on at least three hardware devices. And at least two "brands" (example: two Ledgers and a Trezor), as these hardware wallet guys always want to update their firmware (which makes me uncomfortable).

dearbesz1219

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Activity: 924

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Quote from: 1Referee on August 03, 2014, 08:52:03 AM

I would store 5x 20BTC or just 2x 50BTC. There is nothing wrong with keeping everything in one wallet. I prefer to spread it.

Offline, and on atleast 5 different usb sticks. Grin

Indeed, whatever how big amount you have in bitcoins as long as you know to yourself that your wallet address in your store room it will be safe and secure for sure.

adibe

sr. member

Activity: 406

Merit: 250

I think create a offline wallet and keep it on Flash disk or hard disk and save it on your safe place, it's seems a good idea for me, or turn it into fiat first for more safety.

jt byte

hero member

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Paperwallet then laminate it put in a vault. Cheesy

pandalion98

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I'd store it in a web wallet, with a password that's at least 6 characters in length.

Of course I won't do that. I'd probably do this:

Quote from: Dabs on July 05, 2016, 09:09:38 PM

Paper wallet. (Plastic, Steel, Wood, Whatever.)

Put in bank safe deposit box. Only you can open it, together with the bank employee.

I would probably split the coins into chunks of 50 or 25 or 10.

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

Paper wallet. (Plastic, Steel, Wood, Whatever.)

Put in bank safe deposit box. Only you can open it, together with the bank employee.

I would probably split the coins into chunks of 50 or 25 or 10.

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