Author

Topic: Practical Guide to Cold Storing your bitcoins (Read 1614 times)

legendary
Activity: 1232
Merit: 1076
August 05, 2013, 08:46:25 AM
#5
https://bitcointalksearch.org/topic/sx-command-line-utilities-empower-the-sysadmin-with-bitcoin-tools-259999

Code:
$ sx newkey | gpg -o privkey.enc -e -
$ gpg -d privkey.enc | sx addr

offline cold storage with encrypted private keys generated offline and encrypted using PGP.

combine this with multisignature for multiple offline storage keys that need to be signed to release funds in case one key gets compromised.

combine with deterministic wallet (sx newseed) and master public key (cat wallet.seed | sx mpk) for accepting payments straight to your multiple offline cold storage wallets.
kjj
legendary
Activity: 1302
Merit: 1026
Someone should patch the satoshi client to accept encrypted WIFs.  That would greatly simplify things by cutting out a bunch of steps.
sr. member
Activity: 364
Merit: 250
I am curious, wouldn't generating the private key locally/offline, with a password that would take years to crack as a source of entropy be more secure?
hero member
Activity: 756
Merit: 1000
Nice post. Thanks. Smiley
legendary
Activity: 1358
Merit: 1003
Ron Gross
http://assafshomer.blogspot.co.il/2013/07/bitcoin-cold-storage.html

Very detailed post, aimed to give newbies everything they need to cold store Bitcoins.
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