How would you store >100 Bitcoins? - page 18.

Sled

hero member

Activity: 1680

Merit: 535

Bitcoin- in bullish time

Quote from: groll on July 05, 2016, 08:48:41 PM

Quote from: lyth0s on August 03, 2014, 08:40:44 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 will keep 50% in 10 different wallets but different sites. But blockchain is the most recommended since every wallet may disappear but blockchain Wii not. Next the other 40% I will place in 10 different mining sites but I will place 12 btc on Genesis mining. The other 20 percent I will use in gambling and cashout.

Putting the 40% in different mining sites is very dangerous because even though the most trusted cloud mining site turned to scam. You can't be sure that genesis mining is trusted and earning on their site is very slow because it's almost 1 year just to get ROI.
Using that 20% on gambling is very risky also because in just a minutes you can lose all that and it may cause you to become addict on gambling because you loss a lot of bitcoin and it will result for touching the saved amounts of bitcoin for just your gambling addiction.
If you ask me it's best if you just store it on cold storage or make paper wallets.

to_the_game

newbie

Activity: 6

Merit: 0

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

yayayo

legendary

Activity: 1806

Merit: 1024

Quote from: lyth0s on August 03, 2014, 08:40:44 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.

Don't make things more complicated than they are. If you don't need to access the funds in the foreseeable future the solution is pretty straightforward:

Create multiple paper wallets and distribute the funds equally among them. Then store these paper wallets at multiple places that are secure and easy to remember. In addition you might split up the private keys, so if someone tries to steal your funds, he needs access to more than one part of the private key hidden at different locations.

To increase the durability, you could engrave the private keys into precious metal plates or rings as well.

There is no 100% secure way to store anything, but sometimes the probability to loose something due to forgetting about its hiding place can be higher than the probability to loose it due to criminal activity. Therefore, you should consider to at least partially inform people you trust about the hiding places, or implement a dead man's switch that sends you the information after a certain amount of time has passed.

ya.ya.yo!

groll

sr. member

Activity: 336

Merit: 250

Quote from: lyth0s on August 03, 2014, 08:40:44 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 will keep 50% in 10 different wallets but different sites. But blockchain is the most recommended since every wallet may disappear but blockchain Wii not. Next the other 40% I will place in 10 different mining sites but I will place 12 btc on Genesis mining. The other 20 percent I will use in gambling and cashout.

JeffBrad12

hero member

Activity: 2772

Merit: 524

Leading Crypto Sports Betting & Casino Platform

Quote from: lyth0s on August 03, 2014, 08:40:44 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

maybe I can use mixing service from various parties to store my amount, above 100 BTC it's very big amount man, you need to put a more security for them. not centralized you amount because if you getting a crime you will lose all of your amounts.

pearnapple

sr. member

Activity: 504

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: QuestionAuthority on July 05, 2016, 06:38:22 PM

I have multiple paper wallets that I store around my house in different locations. I call them fiat.

you mean like you would convert it into fiat or what? i think if you talk about real paper wallets then it would be really risky as your house might get on fire and then all the funds would be lost

cpfreeplz

legendary

Activity: 966

Merit: 1042

I would print a paper wallet or make/buy a steel wallet then store it either in a safety deposit box or a safe in my house. Obviously I'd make this on a very secure system.

jackg

copper member

Activity: 2856

Merit: 3071

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

Quote from: lyth0s on August 03, 2014, 08:40:44 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

It is obvious, for the greatest protection you'd need something like a Coinbase Vault if you wanted a ot wallet (there, it can be accessed anline and many authentication techniques can be used such as multiple email confirmations (to different accounts), multiple phone varifications (to different numbers)...
The best way is of course is a paper wallet, but is not the most physically secure!
Also, many online companieis are insured to handle with theft from their servers (not from personal fault though of bad security)!

lister storm

hero member

Activity: 770

Merit: 500

Quote from: Jerome? on October 06, 2014, 07:30:13 AM

Store maybe in different wallets?

i would do that too, thats the best idea in my opinion, i would just print a lot of paper wallets and then transfer the funds to all of them, in this way my bitcoins would be safe i think

useless4

sr. member

Activity: 389

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

Quote from: Jerome? on October 06, 2014, 07:30:13 AM

Store maybe in different wallets?

i dont think that it would be a great idea in my opinion i would definitely only buy a hardware wallet in order to save all my bitcoins and avoid any misunderstandings with a lot of wallets

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: davis196 on July 04, 2016, 03:43:26 AM

Quote from: lyth0s on August 03, 2014, 08:40:44 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

Never put all eggs in one backet.Create 50 or 100 offline and online wallets and store around 1 btc in

every wallet.This might be a lot of work but it`s more secure.

I would never rely on one wallet to store that much btc.

Using online wallet services to store your coins is never a good thing. Just the idea of some one other than myself having full control over my coins is already stopping me from doing that. Stick to offline storage. Better safe than sorry.

hermanhs09

hero member

Activity: 574

Merit: 500

Quote from: BIGbangTheory on October 09, 2014, 10:18:46 PM

Quote from: maurya78 on October 06, 2014, 07:37:01 AM

Spread across 5 to 10 offline wallets. I like paper wallets. Save the paperwallets well.
Keep some spending coins in "hot" wallets but make sure this is no more than you know you are gonna need to transact

spreading your bitcoin across multiple wallets is very risky and will give you a false sense of security. You will likely employ the same kind of security measures across each wallet so if one gets compromised they all will likely be compromised

yeah its a good idea but on other point it would be really annoying if you would have 100 btc and keep lets say every 2 btc at a different single offline wallet.
Personally i wouldnt do this just because i could not cash out it fast.But having every 10btc apart from others on a offline wallet would be the best,and what is more important the safest way for me.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

I have multiple paper wallets that I store around my house in different locations. I call them fiat.

davis196

hero member

Activity: 2968

Merit: 913

Quote from: lyth0s on August 03, 2014, 08:40:44 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

Never put all eggs in one backet.Create 50 or 100 offline and online wallets and store around 1 btc in

every wallet.This might be a lot of work but it`s more secure.

I would never rely on one wallet to store that much btc.

smoothie

legendary

Activity: 2492

Merit: 1473

LEALANA Bitcoin Grim Reaper

Quote from: RawDog on August 21, 2014, 02:55:18 PM

You should make a cold storage paper wallet. But don't risk loss of the private key. You should give a copy of the private key to a trusted third party escrow agent so if you lose your paper, you can get the coins back. I can be your escrow agent if you like. I know a lot about bitcoins. Send me the private key in a PM.

A prime example of why this user ^ shouldn't be taken seriously.

Wow, lol "send your private key to me in a pm"

Cheesy

Meuh6879

legendary

Activity: 1512

Merit: 1011

Quote from: BlackHawk23 on September 25, 2014, 03:24:07 AM

I'd use multiple wallets.
Don't reach a limit go over 3-4 BTC in each wallet.

+1 ... the better method.
https://bitcointalksearch.org/topic/m.8608715

liu405

sr. member

Activity: 252

Merit: 250

I won't Store 100 BTCs,because in that case the risk is too big,First of all, bitcoin price is not stable, may be drop,second,It is difficult to store bitcoins safely,you must beware of hacker attack every day.

Guido

legendary

Activity: 1061

Merit: 1001

put wallet.dat on a thumbdrive, put in a condom and insert in your ass Grin

safe for 'most' people Grin

BIGbangTheory

member

Activity: 83

Merit: 10

Quote from: maurya78 on October 06, 2014, 07:37:01 AM

Spread across 5 to 10 offline wallets. I like paper wallets. Save the paperwallets well.
Keep some spending coins in "hot" wallets but make sure this is no more than you know you are gonna need to transact

spreading your bitcoin across multiple wallets is very risky and will give you a false sense of security. You will likely employ the same kind of security measures across each wallet so if one gets compromised they all will likely be compromised

BrunesBTC45

member

Activity: 103

Merit: 10

Quote from: grandFX on September 25, 2014, 04:57:54 AM

my advice
do not store your btc just using one wallet
but store your bitcoin in some place the wallet.

This might be a good advice but with a big amount like, that will be a little confusing.

Topic: How would you store >100 Bitcoins? - page 18. (Read 42323 times)