How would you store >100 Bitcoins? - page 31.

EternalWingsofGod

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Quote from: lyth0s on August 03, 2014, 07:40:44 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

Use something called a trezor its worth 119 dollars to sleep at night
http://www.bitcointrezor.com/

https://www.youtube.com/watch?v=xObssnQwVgg

TheButterZone

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Quote from: QuestionAuthority on August 06, 2014, 10:35:24 PM

I would make a paper wallet then put it into a small capsule and shove it up my nose. If I need money I just blow my nose.

QuestionAuthority

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You lead and I'll watch you walk away.

I would make a paper wallet then put it into a small capsule and shove it up my nose. If I need money I just blow my nose.

DannyElfman

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Quote from: coinsolidation on August 06, 2014, 08:10:33 PM

Quote from: DannyElfman on August 06, 2014, 08:07:19 PM

Quote from: coinsolidation on August 06, 2014, 06:46:38 PM

inuit is quite good.

For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.

But if someone gets hold of your old passwords combined with the information you just provided, the "bit security" goes down south very fast Wink

If they managed to get passwords back to the 90s, including offline ones for routers and bank cards, then they can have it all

Haha true, but then there is always the risk that you get a head trauma and forget the password or parts of it. And such accidents are not very rare.

I'd rather use BIP0038 protected wallet or split wallets using shamir secret sharing

coinsolidation

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Quote from: DannyElfman on August 06, 2014, 08:07:19 PM

Quote from: coinsolidation on August 06, 2014, 06:46:38 PM

inuit is quite good.

For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.

But if someone gets hold of your old passwords combined with the information you just provided, the "bit security" goes down south very fast Wink

If they managed to get passwords back to the 90s, including offline ones for routers and bank cards, then they can have it all

DannyElfman

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Quote from: coinsolidation on August 06, 2014, 06:46:38 PM

inuit is quite good.

For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.

But if someone gets hold of your old passwords combined with the information you just provided, the "bit security" goes down south very fast Wink

coinsolidation

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inuit is quite good.

For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.

Razick

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Quote from: phillipsjk on August 06, 2014, 01:43:00 AM

Quote from: Razick on August 06, 2014, 12:34:48 AM

Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.

Because people overestimate how random their passwords really are.

That's true, but mine really are very random. Could it be brute forced? Maybe, but I don't think that risk is remotely close to the risk of me losing a paper wallet or having an online wallet hacked.

sapta

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Yield.App

Quote from: DannyElfman on August 06, 2014, 07:01:00 AM

Quote from: sapta on August 06, 2014, 04:54:42 AM

Brain Wallet. I'll use a poem that I wrote when I was a child. Grin

Very good announcing that over the internet, if one can track you down, they can search for that poem Wink

When I was a child, I wrote the poem on a shitty paper. I still keep that. Never posted it online Wink

Stery

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Would use bitcoin core in ubuntu

Make several wallets and store bitcoin amounts

Note down the list of the bitcoin address where the coins are stored.

Logout and only login when I require them to spend / send them to someone

Copy the wallets on removable storage devices

Do check the balances on those addresses from time to time to make sure all are okay

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: shawshankinmate37927 on August 06, 2014, 06:46:33 AM

Quote from: phillipsjk on August 06, 2014, 01:43:00 AM

Quote from: Razick on August 06, 2014, 12:34:48 AM

Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.

Because people overestimate how random their passwords really are.

How about a deterministic/brain wallet that is seeded with a combination of passwords/phrases as well as a randomly generated series of bits with high entropy?

A randomly generated portion of the seed to protect you from brute force attacks by hackers and a series of passwords or phrases portion of the seed to protect you from a thief gaining physical access to your private keys?

high entropy is good, but why over complicate.
If you already have high entropy, you're already protected from brute force attacks.
But yes, encrypt any backups of the seed that aren't in your brain.

DannyElfman

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Quote from: sapta on August 06, 2014, 04:54:42 AM

Brain Wallet. I'll use a poem that I wrote when I was a child. Grin

Very good announcing that over the internet, if one can track you down, they can search for that poem Wink

shawshankinmate37927

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Bitcoin: The People's Bailout

Quote from: phillipsjk on August 06, 2014, 01:43:00 AM

Quote from: Razick on August 06, 2014, 12:34:48 AM

Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.

Because people overestimate how random their passwords really are.

How about a deterministic/brain wallet that is seeded with a combination of passwords/phrases as well as a randomly generated series of bits with high entropy?

A randomly generated portion of the seed to protect you from brute force attacks by hackers and a series of passwords or phrases portion of the seed to protect you from a thief gaining physical access to your private keys?

sapta

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Yield.App

Brain Wallet. I'll use a poem that I wrote when I was a child. Grin

hamiltino

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P2P The Planet!

blockchain.info is my go to lol.

Will be using the SAFE Network to store my private keys however.

phillipsjk

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Let the chips fall where they may.

Quote from: Razick on August 06, 2014, 12:34:48 AM

Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.

Because people overestimate how random their passwords really are.

Razick

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I'd probably store them in a split wallet in paper form with parts stored in different locations. I'd also have a usb backup in a bank.

Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.

Anduck

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quack

BIP38 is hard to bruteforce currently. I'd use PGP.
I would do multisigs + paperwallets.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: bitcoinbitcoin on August 05, 2014, 10:37:15 PM

So what is the best way to encrypt your SEED from electrum?

So that you can back it up.

Good question. I prefer this: http://embeddedsw.net/OpenPuff_Steganography_Home.html

bitcoinbitcoin

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So what is the best way to encrypt your SEED from electrum?

So that you can back it up.

Topic: How would you store >100 Bitcoins? - page 31. (Read 42385 times)