How would you store >100 Bitcoins? - page 37.

Brangdon

sr. member

Activity: 365

Merit: 251

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

how do you store a very large value of coins while managing risk against hackers,

Keep the wallets on a computer that is never connected to the internet.

Quote

forgetting passwords,

Use N of M passwords. For example, 2 of 5, with the 5 stored in different places.

Quote

the obvious need for at least 1 hot wallet, portability, easy of use,

Armory. It will do both hot and cold wallets, and let you monitor and send money to the cold ones from the hot one, and do N of M.

Quote

house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc.

N of M passwords. Some copies on paper, some in the cloud, etc. If you care. Personally I am fairly happy with backups (a) on my PC; (b) on my person; (c) on Dropbox. All encrypted. It's unlikely all 3 will get wiped simultaneously.

Malin Keshar

hero member

Activity: 616

Merit: 500

splitting among wallets.
paper wallets. You can write the keys in random pages of random books you have, or any other place that looks like a nice place to store valious stuff.
put your keys in a "broken" phone hidden in some image, that you only will bring with you if you need a quick exit or all others keys are destroyed or unacessible. I would recomend devices without internet, like old mp3 players that looks old enough to be broken
print the binary of the text file that stores your key. Anyone that gets that will have a hard time figuring out dafuq is that lots of 0 and 1.

4onesea

newbie

Activity: 56

Merit: 0

I would make ten cold wallets using a live cd and storing the dat files on several different usb drives.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

Quote from: blatchcorn on August 03, 2014, 08:06:11 AM

I would just do 10 paper wallets with 10 Bitcoins in each - there is no real need to diversify wallet types, just diversify the coins

Quantity won't help. 1 good cold storage wallet should do fine.
They will be safe. I never split up my coins unless I have to.

bigasic

hero member

Activity: 924

Merit: 1000

I think splitting them up is a good idea. I split my coins in increments of 10, I have been thinking about lowering to 5, that way if I need to sell some without compromising my other coins, i just redeem the 5 coin, or better yet, have a mixture. 1 25btc, 3 10btc, and the rest 5btc..

Beliathon

hero member

Activity: 784

Merit: 1000

https://youtu.be/PZm8TTLR2NU

~80% in 1 brain wallet, ~10-20 btc in Coinbase/Armory or similar trusted 3rd party.

I also read someone keeps a ton of paper wallets, each with 1 or 2 BTC, I liked that too but only if you have a TRULY safe and secure place to store them.

Remember, the safest protection for your wealth is nobody knowing about it.

Meuh6879

legendary

Activity: 1512

Merit: 1012

Quote from: lyth0s on August 03, 2014, 08:03:20 AM

I feel there should be a good ratio of such wallet types, I just don't know which ratio would be best.

i use 1 android bitcoin wallet (with 200mBTC).

i use "many" cold wallet (separate) from bitcoin core.

wallets are stored in 2 hard drive and 5 USB key with many folder by date (10 folders with the same "many" wallets increase by 1 every new wallet created).

You can corrupt 1 file ... but you can't corrupt 100 files separate by time and folders.

justusranvier

legendary

Activity: 1400

Merit: 1013

Armory.

1Referee

legendary

Activity: 2170

Merit: 1427

I would store 5x 20BTC or just 2x 50BTC. There is nothing wrong with keeping everything in one wallet. I prefer to spread it.

Offline, and on atleast 5 different usb sticks. Grin

fa

full member

Activity: 140

Merit: 100

1 wallet. I'm a lazy guy..

lyth0s

legendary

Activity: 1260

Merit: 1000

World Class Cryptonaire

Quote from: blatchcorn on August 03, 2014, 08:06:11 AM

I would just do 10 paper wallets with 10 Bitcoins in each - there is no real need to diversify wallet types, just diversify the coins

With 10 paper wallets you risk them being destroyed. You also have the problem of not having a true hot wallet in order to send bitcoins on the fly with unless you carry the paper wallet in addition to your phone and scan in the key.

blatchcorn

sr. member

Activity: 952

Merit: 281

I would just do 10 paper wallets with 10 Bitcoins in each - there is no real need to diversify wallet types, just diversify the coins

lyth0s

legendary

Activity: 1260

Merit: 1000

World Class Cryptonaire

Quote from: Meuh6879 on August 03, 2014, 07:42:19 AM

every 5 or 10BTC ... use a new wallet.
i do this.

when you pay ... seller don't know if you have more than 5 or 10 BTC.

New wallet or new private key? What about a reasonable cold/hot wallet mixture? And what about online wallets so that your coins are portable?

I feel there should be a good ratio of such wallet types, I just don't know which ratio would be best.

It seems like 1-2 cold storage wallets, 1 PC hot wallet, 1 brain wallet?, 1 phone hot wallet and 1 internet hot wallet might work, but then what ratio of coins to each wallet?

CrackedLogic

legendary

Activity: 1050

Merit: 1000

Quote from: Meuh6879 on August 03, 2014, 07:42:19 AM

every 5 or 10BTC ... use a new wallet.
i do this.

when you pay ... seller don't know if you have more than 5 or 10 BTC.

I should do this.

Meuh6879

legendary

Activity: 1512

Merit: 1012

every 5 or 10BTC ... use a new wallet.
i do this.

when you pay ... seller don't know if you have more than 5 or 10 BTC.

lyth0s

legendary

Activity: 1260

Merit: 1000

World Class Cryptonaire

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

Topic: How would you store >100 Bitcoins? - page 37. (Read 42385 times)