Topic: Storing bitcoins - page 3. (Read 2596 times)

the problem is i don't really know where to keep the paper then 
would it be good to split it in 2 and keep 2 of them each? keep 2 matching halfs in 1 house (eg copy an article, write the btc key randomly somewhere in the middle and hide it in my study books?) and 2 other matching halfs in another house (in case there would be a fire or something). Would that be safe enough? Or is it better to just remind the private key and study +- 1 hour to remind it forever? But in case I would have an accident and come out of coma and don't remind anything at all i would have a problem 

yes, i know that
but this means it is safer to keep usd there than btc

Only create paper wallets if you know what you're doing and make several back ups. I'd write down the private keys as well just in case you lose them or something goes wrong.

You should save the html file on bitaddress.org, and run it on your machine without internet connection. You can print the paper wallet out and laminate the paper and put the paper in a safe place.

In the future when you want to spend your bitcoin, you just need to import the private key to any wallet (such as blockchain.info, electrum,  bitcoin core, etc) or sweep the key .

The USD rate is much higher, because most of the bitcoin people believe the BTC/USD price to go up.
So, while your USD balance may go up 25%, you may not be able to buy 25% more bitcoin 1 year later with your USD.

Is it worth the risk? IMHO, nope. But you should make your own decision.

ok, i'll use that
so just print out bitcoin address and private key? and send all btc to that address? and how do i use them in the future then? + how do i know that website doesnt know the private key and can steal them too?

investing dollars there is worth the risk with 25% a year?

The average daily return rate for offering liquidity on bitfinex is 0.0222% (from https://www.bitfinex.com/pages/stats), and so you can expect to get about 8.4% return a year. IMO, that return isn't worth the risk, and I would rather store my bitcoin on my own wallet.

the best way to store BTC is wallet. no dobut. i lost 6 btc on mtgox, not that much as you but still painful. 

Bitfinex is just like any other Bitcoin exchange, they have the potential of running away with your funds. It is never safe to entrust your bitcoins to someone else. They can either claim to get hacked or just simply shut it down and run away. Remember this rule, the house always wins. Due to the house edge, you can't win in the long run so do not gamble more than you can afford to lose. Store majority of your bitcoins in your cold storage and put a few on your online wallet for day use.

huh, you have lost almost everything :<  Bitcoin world is brutal. on your place i would buy some good tv

If they're on any type of exchnage or third party site then you can lose them if you don't own the private keys, so just bare that in mind. Personally I'd just hold the coins you have now and hope for the best for the future.1NemaYUMWD3r3AdVEVqQWwuXd5oUM91qPS

Precisely.

Cloud mining, Gambling and all other means of investments are more likely to give negative returns.

Keep it safe on a paper wallet (bitaddress.org is good) and keep that paper safe. Don't gamble/waste any more on the hopes of something great.

Seems you have had some bad luck.

Make sure to use multi-factor sites.  Treat your private key like gold.   Get it once on USB and Paper i suggest and put in safety deposit box or some very strong physical safe.

With earning more BTC comes risk only you can decide what is worth it for your personal investments.  I would say never invest more then you are willing to lose, that is my saying no matter what is invested in.     

Why don't you invest 1 btc into cloud mining? hashprofit for example, just stay away from cex.io. You can profit, sure.

Hi everyone,
Some time ago I bought 100 BTC (+70.000$), most of them I lose through hackers, mtgox, investing in HYIP, getting scammed by cloudbet... Now I have a bit less than 10 btc left (sadly worth nothing in compare to my initial investment). I'm used to keep them at exchanges like kraken and justcoin (which closed recently), then I discovered bitfinex and now I'm offering swaps there, hoping to maybe get back an extra bitcoin within a year. But I'm wondering how safe it is to keep my bitcoins there and offer swaps? I can make some profit there (and technically it should work as long as the owners don't run away or something went wrong on the website) but I'm also a bit affraid of losing everything. It also has some advantages, sometimes I really want to make some bets and recently I did it a lot bringing me from less than 3 to over 9 BTC. But that's mostly because of luck and maybe that could precent me losing my bitcoins that way because I never have access to my bitcoins immediately unless I change the autorenew settings in the website and wait for a few weeks. So what would be the best way to store my bitcoins? Going for the profit and let the bitcoins earn intrest on bitfinex or what do you think? My mail is safe now through 2FA if that would matter. If I deposit around 10 btc there I could earn around 2 mBTC every day by just offering swaps.