How would you store >100 Bitcoins? - page 25.

itsAj

hero member

Activity: 588

Merit: 500

Quote from: Candystripes on August 26, 2014, 11:40:44 PM

The safest place would be multiple paper wallets, and make sure you make AT LEAST 3 copies of each. Store them in places around your house you will remember.

No one can touch them that way.

Wouldn't someone be able to steal your coins if they robbed your house? Or if they simply found one while being a house guest of yours?

Mars not Moon

member

Activity: 67

Merit: 10

Its not hard to store 100 bitcoins..if you keep your wallet secret, and don't tell the world about your money. Also keep security tight ..

melisande

sr. member

Activity: 434

Merit: 250

Diversify the coins through creating a paper wallet for each coin.

heypson

newbie

Activity: 28

Merit: 0

Quote from: whysosweet on August 27, 2014, 04:38:08 AM

I would split them into paper wallets and usb pendrives, of course making cold storage wallets.

Probably I would do the same, maybe adding some hardware wallets like Trezor.

whysosweet

newbie

Activity: 40

Merit: 0

I would split them into paper wallets and usb pendrives, of course making cold storage wallets.

catlinhappy

full member

Activity: 126

Merit: 100

I would use a well secured Multi-signature address.

PowerCordZ

member

Activity: 77

Merit: 10

Cold wallet would be my first choice.

Candystripes

sr. member

Activity: 294

Merit: 250

***THIS ACCOUNT IS NO LONGER ACTIVE***

The safest place would be multiple paper wallets, and make sure you make AT LEAST 3 copies of each. Store them in places around your house you will remember.

No one can touch them that way.

Hobbes2

newbie

Activity: 54

Merit: 0

Spread your BTC over several wallets as suggest above, or perhaps 1 main wallet and several decoy wallets which you would use for spending.

The main wallet would have a computer dedicated to it and only be used for transactions sent to the spending wallet.

itsAj

hero member

Activity: 588

Merit: 500

Quote from: shawshankinmate37927 on August 25, 2014, 07:49:37 AM

Quote from: itsAj on August 25, 2014, 01:03:46 AM

Quote from: the joint on August 24, 2014, 08:53:50 PM

http://es.cointelegraph.com/news/11305/blockchain_info_site_refunding_users_stolen_bitcoins

I don't understand exactly how a RNG would be able to change the address to which BTC is sent to (maybe via the change address). If you select custom send to select the exact change address for the change to be sent to then this should not be an issue.

A RNG doesn't change a BTC Address that BTC are being sent to.

A RNG is used to randomly generate a private key. If it is discovered that a Random Number Generator is actually a Predictable Number Generator then you can determine the private keys that will be generated with it.

When you create a transaction on blockchain.info, the website will create a new address to send your change to. It will need to use a RNG in order to create this address. If the RNG is flawed then it will create a predictable address that an attacker knows the private key to.

shawshankinmate37927

hero member

Activity: 854

Merit: 1000

Bitcoin: The People's Bailout

Quote from: itsAj on August 25, 2014, 01:03:46 AM

Quote from: the joint on August 24, 2014, 08:53:50 PM

http://es.cointelegraph.com/news/11305/blockchain_info_site_refunding_users_stolen_bitcoins

I don't understand exactly how a RNG would be able to change the address to which BTC is sent to (maybe via the change address). If you select custom send to select the exact change address for the change to be sent to then this should not be an issue.

A RNG doesn't change a BTC Address that BTC are being sent to.

A RNG is used to randomly generate a private key. If it is discovered that a Random Number Generator is actually a Predictable Number Generator then you can determine the private keys that will be generated with it.

itsAj

hero member

Activity: 588

Merit: 500

Quote from: the joint on August 24, 2014, 08:53:50 PM

Quote from: itsAj on August 23, 2014, 11:25:58 PM

Quote from: the joint on August 23, 2014, 09:37:47 PM

Quote from: itsAj on August 23, 2014, 08:34:47 PM

Quote from: ?? on ??

I'd split between coinbase, bter, and bitfinex.

I'd also store maybe about 20% in hard wallet on my computer/usb. I consider this, personally to be my biggest risk as I'm much more likely to lose my computer/usb stick to something stupid than something going on online.

That's just me though.

These are all very bad places to keep your bitcoin. If you kept your money in any of the above places you would be trusting that a third party would not run away with your bitcoin. This is against the principles of bitcoin and keeping your bitcoin safe. The whole point of using the network as a ledger is that you do not have to trust some other person to keep track of your balance or how much money you have.

Agreed.

Bitcoin allows you the opportunity to exercise personal responsibility for your money. If you entrust your BTC with a third-party service provider -- even if it's a well-established entity such as Coinbase, Blockchain.info, etc. -- and you lose your money, you can only blame yourself at that point.

IMO blockchain.info is not the same as a site like coinbase. Blockchain's wallet allows the user to be in control of the private keys. The generating of the keys is done on the client side (on the user's computer). The keys are stored in encrypted form on blockchain's servers but only the user is able to decrypt the keys. If a user were to choose to do so they could easily import their keys into another client and be able to spend their coins freely.

http://es.cointelegraph.com/news/11305/blockchain_info_site_refunding_users_stolen_bitcoins

I don't understand exactly how a RNG would be able to change the address to which BTC is sent to (maybe via the change address). If you select custom send to select the exact change address for the change to be sent to then this should not be an issue.

kleeii

newbie

Activity: 33

Merit: 0

Spread your BTC over several wallets as suggest above, or perhaps 1 main wallet and several decoy wallets which you would use for spending.

The main wallet would have a computer dedicated to it and only be used for transactions sent to the spending wallet.

the joint

legendary

Activity: 1834

Merit: 1020

Quote from: itsAj on August 23, 2014, 11:25:58 PM

Quote from: the joint on August 23, 2014, 09:37:47 PM

Quote from: itsAj on August 23, 2014, 08:34:47 PM

Quote from: ?? on ??

I'd split between coinbase, bter, and bitfinex.

I'd also store maybe about 20% in hard wallet on my computer/usb. I consider this, personally to be my biggest risk as I'm much more likely to lose my computer/usb stick to something stupid than something going on online.

That's just me though.

These are all very bad places to keep your bitcoin. If you kept your money in any of the above places you would be trusting that a third party would not run away with your bitcoin. This is against the principles of bitcoin and keeping your bitcoin safe. The whole point of using the network as a ledger is that you do not have to trust some other person to keep track of your balance or how much money you have.

Agreed.

Bitcoin allows you the opportunity to exercise personal responsibility for your money. If you entrust your BTC with a third-party service provider -- even if it's a well-established entity such as Coinbase, Blockchain.info, etc. -- and you lose your money, you can only blame yourself at that point.

IMO blockchain.info is not the same as a site like coinbase. Blockchain's wallet allows the user to be in control of the private keys. The generating of the keys is done on the client side (on the user's computer). The keys are stored in encrypted form on blockchain's servers but only the user is able to decrypt the keys. If a user were to choose to do so they could easily import their keys into another client and be able to spend their coins freely.

http://es.cointelegraph.com/news/11305/blockchain_info_site_refunding_users_stolen_bitcoins

Appleanimal

member

Activity: 85

Merit: 10

It depends what purpose you want to store.If it is for some kind of business i think hardware wallet is more secure than paper wallet. Hardware wallets are a major step to enhanced security and usability.But you must take care that the system is free of malware, viruses, keyloggers, remote access tools, and other tools that may be used to make remote copies of your wallet, Bitcoin-related passwords or Bitcoin private keys.

twister

hero member

Activity: 672

Merit: 501

Quote from: QuestionAuthority on August 24, 2014, 01:01:34 AM

A paper wallet inside a metal cigar tube and stuffed inside this woman's vagina. Ain't no one gettin in there without a fight.

Who is this crazy bitch Angry

??

To answer your question OP, I would make 10 paper wallets and put 10 bitcoin per paper wallet than put their keys and all on atleast 2-3 usbs and print 2-3 prints of them all and then divide them and put them in various places such as one inside my room safe, other in a bank locker etc.

Hasher99

member

Activity: 66

Merit: 10

I will store 100 bitcoins in online wallet[I am not afraid] with a 2 step authentication enabled..

My pc has tight security too..

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

A paper wallet inside a metal cigar tube and stuffed inside this woman's vagina. Ain't no one gettin in there without a fight.

wasserman99

sr. member

Activity: 476

Merit: 250

Quote from: the joint on August 23, 2014, 09:37:47 PM

Quote from: itsAj on August 23, 2014, 08:34:47 PM

Quote from: ?? on ??

I'd split between coinbase, bter, and bitfinex.

I'd also store maybe about 20% in hard wallet on my computer/usb. I consider this, personally to be my biggest risk as I'm much more likely to lose my computer/usb stick to something stupid than something going on online.

That's just me though.

These are all very bad places to keep your bitcoin. If you kept your money in any of the above places you would be trusting that a third party would not run away with your bitcoin. This is against the principles of bitcoin and keeping your bitcoin safe. The whole point of using the network as a ledger is that you do not have to trust some other person to keep track of your balance or how much money you have.

Agreed.

Bitcoin allows you the opportunity to exercise personal responsibility for your money. If you entrust your BTC with a third-party service provider -- even if it's a well-established entity such as Coinbase, Blockchain.info, etc. -- and you lose your money, you can only blame yourself at that point.

I think it is interesting how so many of these posts are advocating to somehow have more control over the private keys, and leave so much less to chance, while this one is the only one that advocates giving control to a 3rd party.

I do admit that there are some advantages to giving your coins to a 3rd party. All of these entities likely have a much larger security budget then what you or I will have so there will be more money fighting off attackers (although you would have a number of additional risks that you must face by trusting your 100 BTC to a 3rd party).

itsAj

hero member

Activity: 588

Merit: 500

Quote from: the joint on August 23, 2014, 09:37:47 PM

Quote from: itsAj on August 23, 2014, 08:34:47 PM

Quote from: ?? on ??

I'd split between coinbase, bter, and bitfinex.

I'd also store maybe about 20% in hard wallet on my computer/usb. I consider this, personally to be my biggest risk as I'm much more likely to lose my computer/usb stick to something stupid than something going on online.

That's just me though.

These are all very bad places to keep your bitcoin. If you kept your money in any of the above places you would be trusting that a third party would not run away with your bitcoin. This is against the principles of bitcoin and keeping your bitcoin safe. The whole point of using the network as a ledger is that you do not have to trust some other person to keep track of your balance or how much money you have.

Agreed.

Bitcoin allows you the opportunity to exercise personal responsibility for your money. If you entrust your BTC with a third-party service provider -- even if it's a well-established entity such as Coinbase, Blockchain.info, etc. -- and you lose your money, you can only blame yourself at that point.

IMO blockchain.info is not the same as a site like coinbase. Blockchain's wallet allows the user to be in control of the private keys. The generating of the keys is done on the client side (on the user's computer). The keys are stored in encrypted form on blockchain's servers but only the user is able to decrypt the keys. If a user were to choose to do so they could easily import their keys into another client and be able to spend their coins freely.

Topic: How would you store >100 Bitcoins? - page 25. (Read 42323 times)