Topic: How would you store >100 Bitcoins? - page 21. (Read 42383 times)

Where would you store the decryption key?

How about storing your private key on the blockchain? Encrypted of coarse.

If you want to store bitcoin for someone 9 generations down.

How else would you store your bitcoins for 10k years?

Companies, clouds, hardrives can disintegrate but the blockchain will always be there.

This sounds like a complicated process to me. More so then it should be for storing (and using) your money. I like the idea of having multiple backups of your wallet, but not so much keeping various wallets with different amounts on each one.

If you used some kind of wallet service (either a web wallet or a software wallet) then the wallet would simply send the amount you do not spend to your change address, so you would still have access to the rest of your money.

Lol...

I wouldn't keep such a high amount of bitcoins in only one wallet, possibly distribute it into 20+ wallets, all of which will be cold.

I also wouldn't mind having a paid antivirus program.

I will store more than 100 bitcoins only on an offline wallet or cold wallet. I wouldn't keep that much amount on a online wallet.

That's a good plan and almost exactly what I did.

I printed mine out on multiple paper wallets. I didn't want to have the entire block of coins all on one address.
The reason for this, in my mind, was that when I want to spend some, I wouldn't have to sweep the entire sum, then re-distribute once again. I have 3BTC here, 2BTC there, 1BTC there, there, there...you get the idea. It's a little more work, but if you're storing one somewhere, then why not store 5, or 6, or 12 paper wallets?

I have multiple copies of each wallet, paper and digital, and I have the passphrase in my head, (plus encrypted on USB that my wife can figure out if need be). I've also left detailed directions for her on how to de-crypt the private key once she has the passphrase (including the link to my post where I freaked out when first trying to access the private key).

5 x 20 BTC paper wallets, into a bank safety deposit box that only me and my significant other have access to.

5 x 20 BTC wallet.dats on 5 USB sticks in my home safe that only me and my significant other know the combination.

Done.  

Not a single person saying "Well, I printed my thingy onto a metal wallet and then I bought a safe."
I think we're just securing a bit of money, not trying to trick Danny Ocean and his band of misfits.

Not a huge number since most of the people giving "good" advice in this thread aren't holding more than a couple coins.

I would not store 100 btc, I'm not sure about their future so I would sell them all and buy gold with the money.

TIL a huge number of cold storage coins held by bitcoiners will be lost forever on their death.

The ideo of the grain of rice is fantastic xD , but  if are you hungry what do you do    ? Eat  the rice ? Or what  ....  .

Only a cold wallet in my house. cant imagine anywhere safer.

i would like to revise my earlier reply where I stated 'the others gave you good solutions'  and just cautioned that storing anything in a bank safe deposit box can be siezed by the us govt under the patriot act and they don't have to tell you.

Many people discuss paper wallets,  i was thinking about how unsecure printers are.

Almost every printer on the market has known vulnerabilities.

If you want to hack into someones network the printer is often a soft spot

Also many people have done forensic studies of recovering information that was printed .....

So, I would say use extreme caution if going with a paper wallet.

Always remember , your house could burn down or things could be stolen.

Althogh I am not personally familiar with Armory at a glance it appears like a pretty good way to store btc.

Again if storing btc I guess another factor is how often if ever you plan to access that bitcoin to spend it.

It is a lot safer to store it with a solution like armory or in a strongly encrypted wallet on a totally clean machine , never hooked to the web (recommend not using windows as an os either, linux much safer)  after your wallet is encrypted you can use the old method to encrypt the entire drive image and keep that.  Where you keep it, how many copies you keep of it would depend on your personal situation.

I certainly would avoid any online storage unless for small amounts of btc.

Personally I think that those who believe btc was intended to buy cups of coffee and such are crazy.

I guess I hold a minority opinion on that.

Still be careful with printers.

Because some business will take a highly complicated method, wrap it in some nice easy to use package - and sell it to the average person.

These sound like highly complicated methods to storing BTC.
How is the average person supposed to adopt a system like this?

In the case of 100+ BTC. I's very simple. 2 things. One, you want to keep an eye on that, so as they don't just disappear over night. Two you want that off-line, far from the prying hand of hackers!

My suggestion, is break it down into 4 paper wallets, generated off-line, 25+ each. Each using a unique pass-phrase or password. Paper wallets are stored in a plastic zip-lock bag for moisture protection. The private keys associated with their corresponding public key should be copied to a SD, USB, or a removable media device by an off-line computer, and that to should be zip for moisture!

Paper wallets can be stored in a safety deposit box, along with the SD/USB device at a local bank. No sense in banking crypto if your gonna have a version hanging around the house.

The four keys should be installed in view mode only on an Application such as Mycelium, or links to the blockchain should be created in your browser, as to keep an eye on them as you move from day to day!

If long term banking is required, then only passwords can be kept around the house, say in a cookie jar, picture frame, etc.
Enjoy crypto man it's alot of fun!