Is it safe to hold all of your BTC on one address in cold storage?

basinlotus

newbie

Activity: 14

Merit: 0

I think it's safe, if your private key is strong enough. Cheesy

Quote from: lukaexpl on August 17, 2017, 04:04:52 AM

The advantage is obvious. You have all your BTC in one address meaning you would be actually able to memorize the private key and have the encrypted metal stamped version of it in some safe in case you die and want to leave to someone else.

But is there a threat posed by this Bitcoin collider that someone stumbles by chances exactly into your address?

ruclassic

member

Activity: 96

Merit: 100

RUcoin - Revolution on Universe

Quote from: lukaexpl on August 17, 2017, 04:04:52 AM

The advantage is obvious. You have all your BTC in one address meaning you would be actually able to memorize the private key and have the encrypted metal stamped version of it in some safe in case you die and want to leave to someone else.

But is there a threat posed by this Bitcoin collider that someone stumbles by chances exactly into your address?

This kind of situation happen that chances so less. Means mostly it will never happen but then also if you want security, you can transfer your BTC in another address after some months of period means after every 6 months of period you transfer your BTC in another address.

Swagtoshi

full member

Activity: 261

Merit: 102

It is safe to store all your bitcoin in one address.
It is almost impossible that someone will stumble into your address by chance as there are 2¹⁶⁰ possible addresses, which is more than the amount of sand on earth squared.

DannyHamilton

legendary

Activity: 3416

Merit: 4658

Quote from: lukaexpl on August 17, 2017, 04:04:52 AM

- snip -
is there a threat posed by this Bitcoin collider
- snip -

No.

If you used a well written wallet that did a good job of generating random private keys, there is no threat posed by Bitcoin Collider.

lukaexpl

full member

Activity: 148

Merit: 106

The advantage is obvious. You have all your BTC in one address meaning you would be actually able to memorize the private key and have the encrypted metal stamped version of it in some safe in case you die and want to leave to someone else.

But is there a threat posed by this Bitcoin collider that someone stumbles by chances exactly into your address?

Topic: Is it safe to hold all of your BTC on one address in cold storage? (Read 501 times)