Paper Wallets for Dummies. | Bitcointalksearch.org

BittBurger

hero member

Activity: 924

Merit: 1001

Quote from: Fearless on August 30, 2014, 12:26:41 PM

Yeah,absolutely bitcoin qt should itself possess a paper wallet printing feature,It would be best rather than using other services

Yet another feature that should have been put into the QT (core) client months ago, but the dev team hasn't bothered. Awesome progress.

I also love that I have to write CMD commands into a command prompt in longhand after 3 menu navigation clicks that make zero sense, just to import a wallet. That's also awesome. Exactly how much time would it have taken them to make that about 500x easier? Yet there it sits, and I have to google the "step by step process" every time I need to do an import. Awesome progress, dev team.

-B-

itsAj

hero member

Activity: 588

Merit: 500

Quote from: fryarminer on August 31, 2014, 09:24:12 AM

Quote from: itsAj on August 30, 2014, 12:28:49 PM

Quote from: odolvlobo on August 30, 2014, 12:07:26 PM

A Coinbase paper wallet is a generic paper wallet. You can fund it from anywhere. You don't have to fund it from your Coinbase account.

1. Generate the paper wallet on Coinbase.
2. Print it.
3. Send bitcoins from your Bitcoin Core (Qt) wallet to your paper wallet.

I wouldn't personally use a paper wallet that is created by a website like this. If you trust coinbase enough to not somehow compromise the creating of a paper wallet then you might as well use their vault (cold storage) services. With their vault service you have a more or less zero chance of loosing your BTC because you mess something up.

No way I'd ever use a "vault" storage. Vault storage is just a fancy way of a total stranger telling you: "hey! let me take care of your bitcoins for you!"
I remove any penny from CoinBase as soon as I do a transaction. I wnt full control over my BTC.

Well if you are trusting coinbase to securely create your private key, then I don't see why you wouldn't trust them with your actual bitcoin.

If you want to have 100% control over your bitcoin then you should use something that creates the private key on the client/browser side.

HELP.org

hero member

Activity: 510

Merit: 500

Bitcoin Armory is a deterministic wallets so one key determines all the addresses a wallet will use, including all the "change" addresses.

You can copy the key without identifying it as being associated with Bitcoin. You can also print it using a "secure printing" feature. I haven't looked at it too closely but it says it protects transmission from interception over the network. In any case it is best to just use a computer never connected to any network.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

I have always been skeptical about paper wallets, only because I have a terrible tendency to misplace or damage things that are on paper...

I know that they are great solutions for most people though. The trezor is a happy medium that I have been using lately. I still have to keep track of the recovery seed, I like the ability to add coins and send out coins much more quickly...

btcguys

member

Activity: 112

Merit: 10

Quote from: Apraksin on August 31, 2014, 12:46:16 PM

Is there any easy and trusty userguide for how to encrypt the paperwallet with BIP38? Makes me nervous.

you can use my guide with all the steps: http://www.btcguys.us/blog/how-to-create-bitcoin-paper-wallet-tutorial

I recommend transferring and then retrieving small amount before conducting large transactions

Apraksin

sr. member

Activity: 420

Merit: 251

Moon?

Is there any easy and trusty userguide for how to encrypt the paperwallet with BIP38? Makes me nervous.

bornil267645

sr. member

Activity: 406

Merit: 250

AltoCenter.com

Thanks for the tips on Paper wallet Cool

minerpumpkin

hero member

Activity: 686

Merit: 500

A pumpkin mines 27 hours a night

Quote from: inBitweTrust on August 31, 2014, 11:54:22 AM

Quote from: Tugbit on August 31, 2014, 11:42:19 AM

SOMETHING TO KEEP IN MIND IF YOU PRINT PAPER WALLETS ON A MFP PRINTER !!!

Found this today: https://www.youtube.com/watch?v=TCKr5WgVVN8

Closer investigation shows that my mfp printer has a HD : http://h20566.www2.hp.com/portal/site/hpsc/template.PAGE/public/kb/docDisplay?javax.portlet.begCacheTok=com.vignette.cachetoken&javax.portlet.endCacheTok=com.vignette.cachetoken&javax.portlet.prp_ba847bafb2a2d782fcbb0710b053ce01=wsrp-navigationalState%3DdocId%253Demr_na-c02738751-1%257CdocLocale%253D%257CcalledBy%253D&javax.portlet.tpst=ba847bafb2a2d782fcbb0710b053ce01&ac.admitted=1409502745239.876444892.199480143

Even closer investigation allowed me to retrieve EVERY document ever printed, copied or faxed on this machine...

Valid point, and one that Mycelium should warn about.

Exactly. Nowadays a lot of printers are being hooked up over the air using WiFi or Ethernet connections. If you're printing a paper wallet over one of those connections, you have to keep in mind that the wallet is only as safe as the connection you've used!

inBitweTrust

hero member

Activity: 658

Merit: 501

Quote from: Tugbit on August 31, 2014, 11:42:19 AM

SOMETHING TO KEEP IN MIND IF YOU PRINT PAPER WALLETS ON A MFP PRINTER !!!

Found this today: https://www.youtube.com/watch?v=TCKr5WgVVN8

Closer investigation shows that my mfp printer has a HD : http://h20566.www2.hp.com/portal/site/hpsc/template.PAGE/public/kb/docDisplay?javax.portlet.begCacheTok=com.vignette.cachetoken&javax.portlet.endCacheTok=com.vignette.cachetoken&javax.portlet.prp_ba847bafb2a2d782fcbb0710b053ce01=wsrp-navigationalState%3DdocId%253Demr_na-c02738751-1%257CdocLocale%253D%257CcalledBy%253D&javax.portlet.tpst=ba847bafb2a2d782fcbb0710b053ce01&ac.admitted=1409502745239.876444892.199480143

Even closer investigation allowed me to retrieve EVERY document ever printed, copied or faxed on this machine...

Valid point, and one that Mycelium should warn about.

minerpumpkin

hero member

Activity: 686

Merit: 500

A pumpkin mines 27 hours a night

Quote from: odolvlobo on August 31, 2014, 11:37:46 AM

Quote from: minerpumpkin on August 31, 2014, 11:06:41 AM

This is another thing that needs to become easier for people to use.

When Mycelium's Entropy device comes out, all of these problems will go away. You just plug it in to your printer's USB port and you print a paper wallet.

Yes those devices are a very good starting point. In my opinion most people won't want to buy an additional device just to use Bitcoin, but we may optimize those devices or even integrate some of their features or security measures to mobile phones. Now we just got to make sure the printer isn't storing everything that's been printed on it

Tugbit

newbie

Activity: 20

Merit: 0

SOMETHING TO KEEP IN MIND IF YOU PRINT PAPER WALLETS ON A MFP PRINTER !!!

Found this today: https://www.youtube.com/watch?v=TCKr5WgVVN8

Closer investigation shows that my mfp printer has a HD : http://h20566.www2.hp.com/portal/site/hpsc/template.PAGE/public/kb/docDisplay?javax.portlet.begCacheTok=com.vignette.cachetoken&javax.portlet.endCacheTok=com.vignette.cachetoken&javax.portlet.prp_ba847bafb2a2d782fcbb0710b053ce01=wsrp-navigationalState%3DdocId%253Demr_na-c02738751-1%257CdocLocale%253D%257CcalledBy%253D&javax.portlet.tpst=ba847bafb2a2d782fcbb0710b053ce01&ac.admitted=1409502745239.876444892.199480143

Even closer investigation allowed me to retrieve EVERY document ever printed, copied or faxed on this machine...

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: minerpumpkin on August 31, 2014, 11:06:41 AM

This is another thing that needs to become easier for people to use.

When Mycelium's Entropy device comes out, all of these problems will go away. You just plug it in to your printer's USB port and you print a paper wallet.

minerpumpkin

hero member

Activity: 686

Merit: 500

A pumpkin mines 27 hours a night

This is another thing that needs to become easier for people to use. A normal person interested in using Bitcoin will never want to go through all the hoops and loops in order to create a simple paper wallet. But the trust issue remains. You should never use an external third-party service in order to create your private keys or print them on a paper wallet.

btcguys

member

Activity: 112

Merit: 10

If you want true solution then might as well put the time and effort to store your bitcoins because it will be worth.

here is user friendly guide to help you create paper wallet: http://www.btcguys.us/blog/how-to-create-bitcoin-paper-wallet-tutorial

disclaimer: using this guide means you are trusting Canton Becker. Alternatively, you can use any paper wallet creator from GitHub such as bitaddress.org : https://github.com/pointbiz/bitaddress.org

make sure to verify integrity of the file.

rule of thumb: never use online computer to create paper wallet(s)

Kentes

newbie

Activity: 4

Merit: 0

Quote from: wezphoto on August 31, 2014, 10:20:23 AM

I have used bitaddress in the past, it's really easy and userfriendly, I recommend it for a quick cold wallet.

I also use bitaddress, very user friendly , easy to get paper wallet. Saying from my own experience.

wezphoto

newbie

Activity: 42

Merit: 0

I have used bitaddress in the past, it's really easy and userfriendly, I recommend it for a quick cold wallet.

fryarminer

hero member

Activity: 686

Merit: 500

Quote from: itsAj on August 30, 2014, 12:28:49 PM

Quote from: odolvlobo on August 30, 2014, 12:07:26 PM

A Coinbase paper wallet is a generic paper wallet. You can fund it from anywhere. You don't have to fund it from your Coinbase account.

1. Generate the paper wallet on Coinbase.
2. Print it.
3. Send bitcoins from your Bitcoin Core (Qt) wallet to your paper wallet.

I wouldn't personally use a paper wallet that is created by a website like this. If you trust coinbase enough to not somehow compromise the creating of a paper wallet then you might as well use their vault (cold storage) services. With their vault service you have a more or less zero chance of loosing your BTC because you mess something up.

No way I'd ever use a "vault" storage. Vault storage is just a fancy way of a total stranger telling you: "hey! let me take care of your bitcoins for you!"
I remove any penny from CoinBase as soon as I do a transaction. I wnt full control over my BTC.

DrBitcoin

sr. member

Activity: 350

Merit: 294

Quote from: itsAj on August 30, 2014, 12:28:49 PM

Quote from: odolvlobo on August 30, 2014, 12:07:26 PM

A Coinbase paper wallet is a generic paper wallet. You can fund it from anywhere. You don't have to fund it from your Coinbase account.

1. Generate the paper wallet on Coinbase.
2. Print it.
3. Send bitcoins from your Bitcoin Core (Qt) wallet to your paper wallet.

I wouldn't personally use a paper wallet that is created by a website like this. If you trust coinbase enough to not somehow compromise the creating of a paper wallet then you might as well use their vault (cold storage) services. With their vault service you have a more or less zero chance of loosing your BTC because you mess something up.

This is a pretty false statement. A paper wallet and vault storage are two very different things. With the vault storage, I don't have control over the Private keys. So while I do trust coinbase, there is always the chance of insolvency. If Coinbase goes bankrupt and disappears, so does my Bitcoins.

DrBitcoin

sr. member

Activity: 350

Merit: 294

Quote from: odolvlobo on August 30, 2014, 12:07:26 PM

A Coinbase paper wallet is a generic paper wallet. You can fund it from anywhere. You don't have to fund it from your Coinbase account.

1. Generate the paper wallet on Coinbase.
2. Print it.
3. Send bitcoins from your Bitcoin Core (Qt) wallet to your paper wallet.

Thanks! This makes sense and solves the fee dilemma. But obviously not the security dilemma.

Nice suggestion.

BitcoinBarrel

legendary

Activity: 2026

Merit: 1034

Fill Your Barrel with Bitcoins!

You can use a Vanity generator and write the private Key on a piece of paper.

https://en.bitcoin.it/wiki/Vanitygen

Topic: Paper Wallets for Dummies. (Read 1892 times)