Topic: How would you store >100 Bitcoins? - page 28. (Read 42383 times)
On a hard drive in a landfill
Does it matter if it's in 1 wallet or 50, surely the security measurements are the same either way.
Sure it could. Multiply the average time/cost/etc. it takes a person to crack into one wallet by the total number of wallets.
Now, if the average time it takes to crack into the first wallet is longer than your life span, then one is probably good as long as you're not exaggerating your security measures, and if you're not careless
Does it matter if it's in 1 wallet or 50, surely the security measurements are the same either way.
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.
Woah woah woah, don't do this! Seriously first thing first don't just send your money to strangers. You know nothing about this guy and have no clue who he is.You just inadvertently explained why banks are bad.
"How would you store $50,000 Dollars?"
"You should give them to a trusted third party"
"Woah woah woah, don't do this!"
On a similar note, it's nice that all of these suggestions are even available, it is good to reflect on how far we have came, not just to store money securely, but to store copies of it also. - Copies of the keys I know, but it amounts to the same
Armory.
Exactly.
My security involves using Armory for cold storage and offline transactions. To that extent, I really don't have a hot wallet.
Each wallet has multiple backups on multiple clean USB drives.
Each wallet has multiple paper backups.
All are stored behind 3 inches of waterproof, flame-resistant steel (safe).
And to get to the safe you need to bypass magnetic and vibration-sensitive door alarms...and the motion detectors...and the cameras.
And in case you somehow managed to get through all that, I still have my m-of-n setup to fall back on.
Go for it
This is awesome. I feel like I may have seen this once before. That may be the only reason I didn't finish my "hallway of lasers" obstacle course.
But trust me, you'll need *at least* a $10 wrench with a skull as thick as mine.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
Armory.
Exactly.
My security involves using Armory for cold storage and offline transactions. To that extent, I really don't have a hot wallet.
Each wallet has multiple backups on multiple clean USB drives.
Each wallet has multiple paper backups.
All are stored behind 3 inches of waterproof, flame-resistant steel (safe).
And to get to the safe you need to bypass magnetic and vibration-sensitive door alarms...and the motion detectors...and the cameras.
And in case you somehow managed to get through all that, I still have my m-of-n setup to fall back on.
Go for it
it should be mentioned that Electrum is just as safe as Armory for cold storage.
Armory.
Exactly.
My security involves using Armory for cold storage and offline transactions. To that extent, I really don't have a hot wallet.
Each wallet has multiple backups on multiple clean USB drives.
Each wallet has multiple paper backups.
All are stored behind 3 inches of waterproof, flame-resistant steel (safe).
And to get to the safe you need to bypass magnetic and vibration-sensitive door alarms...and the motion detectors...and the cameras.
And in case you somehow managed to get through all that, I still have my m-of-n setup to fall back on.
Go for it
Armory.
Exactly.
My security involves using Armory for cold storage and offline transactions. To that extent, I really don't have a hot wallet.
Each wallet has multiple backups on multiple clean USB drives.
Each wallet has multiple paper backups.
All are stored behind 3 inches of waterproof, flame-resistant steel (safe).
And to get to the safe you need to bypass magnetic and vibration-sensitive door alarms...and the motion detectors...and the cameras.
And in case you somehow managed to get through all that, I still have my m-of-n setup to fall back on.
Go for it
Get a metal fireproof safe that's professional grade. Hide the safe in a place no one even knows is there. (Ex. Remove a piece of drywall and store it inside. You'll need to make sure the box is small enough to fit, though. Patch the wall up so no one knows it's inside the wall.) If you're the artistic tyle, create a metal sculpture and place the SD Card inside that in such a way that you fully encompass the card. Be sure to pad the inside of the matal structure as the metal casing will act as a Faraday cage, but it will go hot when hit with EMPs. The inside will be shielded, but gravity will pull the chip against one of the walls. Be sure that you have static-proof wrap around your chip as well for extra protection. Hard Drives and other computer components are often shipped in static-proof bags that you can reuse.
legendary
Activity: 1302
Merit: 1008
Core dev leaves me neg feedback #abuse #political
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.
Woah woah woah, don't do this! Seriously first thing first don't just send your money to strangers. You know nothing about this guy and have no clue who he is.Should be neg repped for asking for private keys.
You're all thinking way too difficult about spreading out everything between online web wallets, online PC wallets and offline wallets or even brain wallets. Take 2 laptops, clean install of Ubuntu, full disk encryption with complicated long pass-phrase.
Apply security patches and harden the OS. Install armory.
First laptop will NEVER connect to the internet again (take a laptop with a hardware WIFI switch). Create an offline wallet on the offline laptop. Send bitcoins in whatever illogical small amount per address (0.9, 0.35, never more than 5btc per address). Setup a multiple offline paper wallet backup. Distribute fragments of offline wallet to people that you trust (people should not know about each others fragments for extra security)(in case you die for heritage means). Have a USB stick digital backup of wallet.dat fully encrypted multiple times for yourself in case of hard drive failure.
Second laptop will ONLY be used to sync the blockchain THROUGH TOR and to create a watch only address.
Have a normal PC (windows/whatever) for separate hot wallet (multibit/electrum/whatever). Send signed transactions from offline PC THROUGH online watch only laptop to Hot wallet.
There u have it, perfect security. Feel free to ask any questions.
Apply security patches and harden the OS. Install armory.
First laptop will NEVER connect to the internet again (take a laptop with a hardware WIFI switch). Create an offline wallet on the offline laptop. Send bitcoins in whatever illogical small amount per address (0.9, 0.35, never more than 5btc per address). Setup a multiple offline paper wallet backup. Distribute fragments of offline wallet to people that you trust (people should not know about each others fragments for extra security)(in case you die for heritage means). Have a USB stick digital backup of wallet.dat fully encrypted multiple times for yourself in case of hard drive failure.
Second laptop will ONLY be used to sync the blockchain THROUGH TOR and to create a watch only address.
Have a normal PC (windows/whatever) for separate hot wallet (multibit/electrum/whatever). Send signed transactions from offline PC THROUGH online watch only laptop to Hot wallet.
There u have it, perfect security. Feel free to ask any questions.
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.
How about keeping only few bitcoins at a time, and cashing out the remaining ones to your bank..You can be safest this way.
Offline wallet on a secure OS seems to be the best idea. Linux is far safer than windows.
Offline storage, and a secure paper wallet.
I never store more than 2 bitcoins in my online wallet, other coins are safe in my offline wallet. I take many steps to keep my system secure.
I would probably keep about 10% in blockchain, my hotwallet in coinbase, and the rest cold.
Since this is theoretical allow me to go just a bit outside the direct answer and suggest not keeping that much bitcoin in storage. I would diversify the use of it into playing ups and downs of the highly volatile alt-coin markets.
But as far as simple storage goes, well... you can encrypt so as long as you have a good method, process, or service for managing your password and storage locations it would be a breeze. there are specific services you can purchase for managing all your passwords and there are specific services you can purchase for storing data. Of course, you can do it yourself just as well and it's not too difficult. have more than one device that requires password access and store your wallets across various devices. Make yourself a regular backup schedule and you can even use programs to encrypt your own passwords. If you are the type to forget passwords then I refer you to a paid password service. Just google "paid password service reviews".
But as far as simple storage goes, well... you can encrypt so as long as you have a good method, process, or service for managing your password and storage locations it would be a breeze. there are specific services you can purchase for managing all your passwords and there are specific services you can purchase for storing data. Of course, you can do it yourself just as well and it's not too difficult. have more than one device that requires password access and store your wallets across various devices. Make yourself a regular backup schedule and you can even use programs to encrypt your own passwords. If you are the type to forget passwords then I refer you to a paid password service. Just google "paid password service reviews".
I've created a sculpture from used fast food chopsticks and white glue - that only I know is meaningful - let alone how to decipher into hexadecimal representation of my private key.
I keep mine on a raspberry pi that I just use exclusively for bitcoins and nothing else. I have a back up of the wallet.dat file on a usb and a cd as well.
Jump to: