Do you think cold storage is essential?
Under 10 BTC not really10+ BTC yes
Topic: Keeping your butts safe - page 4. (Read 4165 times)
10+ BTC yes
buy an old laptop.
format it.
install linux on it.
download, install and run electrum.
write on paper the 12 word seed electrum gives you.
memorize it and repeat it every day for a week.
destroy the paper.
keep the laptop powered down, never use it for anything except sending money with electrum.
format it.
install linux on it.
download, install and run electrum.
write on paper the 12 word seed electrum gives you.
memorize it and repeat it every day for a week.
destroy the paper.
keep the laptop powered down, never use it for anything except sending money with electrum.
I personally don't leave btc on an offline computer or a flash drive. My reasoning is that they're technology, and it tends to fail. What if that computer doesn't boot up one day, or what if it's somehow broken? What if you lose your flash drive that has your private keys, or what if it gets too close to a magnet?
What if the house burns down?
What if the house burns down?
Any large amount of Bitcoins it is absolutely essential to keep it in cold storage and more importantly offline, a disconnected computer off the internet can't be hacked, first rule of a fight is don't be there, unfortunately many don't practice this and I'm still seeing topics of people screaming about how their coins got hacked despite using Tor etc. and they just don't take peoples advice, most likely because they think it won't happen to them.
It's fine leaving it online if you're going to spend it at some point or move it around but ideally if it's for long term storage offline is best.
It's fine leaving it online if you're going to spend it at some point or move it around but ideally if it's for long term storage offline is best.
If you have a fair amount of bitcoins is it stupid to keep them all on Bitcoin Core on a computer that's just about always online?
I wouldn't call this stupid. I would say this is very insecure especially considering that you are using QT, as QT will broadcast the fact that you are someone that uses bitcoin (or at least is someone involved in Bitcoin) so potential attackers will know that you are someone they should target. By saying that you have a 'fair amount' you are implying that you have enough so that you would be negatively affected in a significant way in the event that your money were to be stolen.
Even with a good password?
A strong password is only one line of defense. You however must utilize other lines of defense as well. A strong password will not protect yourself against a keylogger of malware that can 'see' your private key when you temporarily decrypt it when you go to sign and push a TX. Do you think cold storage is essential?
Not necessarily however at the very least you should have your bitcoin stored on a computer that is not on a network that can be associated with Bitcoin use. As long as you are disassociated with bitcoin you will be somewhat safe as attackers will not know to attempt to attack, so if your money is stolen it would likely be the result of a more random attack. Most people however do believe that cold storage is essential as it eliminates the majority of risks of getting your bitcoin stolen 
I have two offline wallets that split my BTC between the two. If something happens to one, I don't lose them all.
I have my public addresses as 'watch only' so I can monitor the balances.
I have my private keys stamped into metal that won't melt if the house burned down.
AND I have paper copies in another location, split up so you need both parts to complete the key.
I'm HODLing long term, so I wanted to be safe.
I have my public addresses as 'watch only' so I can monitor the balances.
I have my private keys stamped into metal that won't melt if the house burned down.
AND I have paper copies in another location, split up so you need both parts to complete the key.
I'm HODLing long term, so I wanted to be safe.
winner
I have two offline wallets that split my BTC between the two. If something happens to one, I don't lose them all.
I have my public addresses as 'watch only' so I can monitor the balances.
I have my private keys stamped into metal that won't melt if the house burned down.
AND I have paper copies in another location, split up so you need both parts to complete the key.
I'm HODLing long term, so I wanted to be safe.
I have my public addresses as 'watch only' so I can monitor the balances.
I have my private keys stamped into metal that won't melt if the house burned down.
AND I have paper copies in another location, split up so you need both parts to complete the key.
I'm HODLing long term, so I wanted to be safe.
Offline core. Export keys as needed.
Offline armory, that's the way to go.
If you have a fair amount of bitcoins is it stupid to keep them all on Bitcoin Core on a computer that's just about always online?
Even with a good password?
Do you think cold storage is essential?
That depends on what you consider a fair amount of bitcoin. You could store them on multiple wallets or offline. Even with a good password?
Do you think cold storage is essential?
If you have a fair amount of bitcoins is it stupid to keep them all on Bitcoin Core on a computer that's just about always online?
Even with a good password?
Do you think cold storage is essential?
Even with a good password?
Do you think cold storage is essential?
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