Stainless:
Aluminum:
Disclosure: I invented and sell this.
Topic: The best Bitcoin cold storage? - page 4. (Read 19375 times)
Check out the Bitcoin Firesafe. It's a chunk of Aluminum or Stainless Steel with a QR Code of your BIP-38 encrypted key engraved into it... so the manufacturer can't have access to your funds, and the instrument is 2-factor secure... i.e. if it is ever stolen from you, it is still useless without the password. There are discounts for duplicates too.
Stainless:
Aluminum:
Disclosure: I invented and sell this.
Stainless:
Aluminum:
Disclosure: I invented and sell this.
Make sure no one is "shoulder surfing" you when you make your cold wallet. Or make sure there are no webcams hidden in your room. Enemy of the State or Anti-Trust or stuff like that. Don't forget to wear your tin foil hat.
Speaking of which, make sure your monitor is properly shielded to prevent signals flying to the white van outside, where they can read everything that you see.
You could argue for the case of using casino grade dice to generate private keys. Alternatively there are hexadecimal dice. Read about diceware, apply the same thought process to private key generation.
Personally, just use an old computer or laptop in a secure room or basement of your location.
Speaking of which, make sure your monitor is properly shielded to prevent signals flying to the white van outside, where they can read everything that you see.
You could argue for the case of using casino grade dice to generate private keys. Alternatively there are hexadecimal dice. Read about diceware, apply the same thought process to private key generation.
Personally, just use an old computer or laptop in a secure room or basement of your location.
Everything is explained here http://ecoinocity.com/make-or-buy-metal-offline-cold-storage-hardware-bitcoin-wallet/ on how to make or buy a metal cold storage bitcoin wallet. It will withstand a fire but will be even safer when stored in a safe deposit box in your local bank. Also make a copy and keep it in a fire proof safe in your home. This is hacker proof.
Also once the wallet is created there are particular procedures you need to follow (see the post url listed above). For example you must empty the whole balance and do not reuse the wallet.
http://ecoinocity.com/wp-content/uploads/2014/02/metalbitcoinwalletbest2-300x225.jpg
Also once the wallet is created there are particular procedures you need to follow (see the post url listed above). For example you must empty the whole balance and do not reuse the wallet.
http://ecoinocity.com/wp-content/uploads/2014/02/metalbitcoinwalletbest2-300x225.jpg
No real need. How easy is it to hide a private key somewhere? A safe just tells people what's in it is valuable. Usually I'd despise security by obscurity; in this case it makes sense.
Metal Bitcoin firesafes seem to be a good idea. Aluminium and stainless steel ones are available. One poster suggested that a Titanium one would be even better.
I recall seeing a thread somewhere also offering wooden versions.
I recall seeing a thread somewhere also offering wooden versions.
That's a good idea as long is the safe is small and cleverly hidden.
Having a safe in your closet or behind a picture frame is like putting up a neon sign that says, "here are my valuables!"
Metal Bitcoin firesafes seem to be a good idea. Aluminium and stainless steel ones are available. One poster suggested that a Titanium one would be even better.
I recall seeing a thread somewhere also offering wooden versions.
I recall seeing a thread somewhere also offering wooden versions.
The problem with traditional 'physical' cold storage solutions is yes they may be offline, but they are not immune to natural disaster, theft or loss. I found https://www.cryowallet.com which kinda gives you the best of both worlds. You wallet can be 'evoked' when you login in. Nothing executes on their servers, everything runs locally in your browser memory and when you logout there's no trace left on your machine. Not even they have access to your provate keys/coins. So they cant be hacked, you cant be hacked and in the event of a disaster of some sort, you can evoke your wallet from any device.
Ha.... I don't keep much on my ring.
Wonder if Shrem was wearing it when he was arrested, and if any of the cops was smart enough to copy the private key off it.
I'd like a way of making them that minimises trust. Any ideas?
Wonder if Shrem was wearing it when he was arrested, and if any of the cops was smart enough to copy the private key off it.
I'd like a way of making them that minimises trust. Any ideas?
Trust, security against what?
There are many risks here. Robbery for the ring, robbery for the coins, the goldsmith steals your stuff, you want to quickly access your funds, inheritage, the list goes on and on.. :-)
So, generally speaking, we don't need one solution, but a whole system. And this one will be different depending on use case.
Ente
True, though I mean specifically my case, where I make rings/jewellery etc for other people. I don't like the idea of them sending me encrypted keys, since they will only be as strong as the password they choose (and remember).
For people sending some one else their keys to engrave or similar:
- Trust the creator, like Mike/Casascius
- Encrypt the key, there's a BIP for that (and remember the password)
- Split the key between several rings/engravers (shamirs SSSS, or half a key for each)
In all three cases the user has to trust someone: the engraver, himself or the engravers.
I, personally, don't like to need a password for my cold storage. Cold storage is, for me, the absolute last resort when everything else went up in flames (literally, computer burned away, or I am not able to redeem any coins any more).
Ente
Thanks. That sounds about right. I don't like the idea of encrypting cold storage keys either, though I think generally obfuscating them a bit is a good idea. Neither do I like the idea of being trusted: even if I am trustworthy, if the coins get stolen somehow then I'll naturally fall under suspicion.
Myself, I'd plan on several cold/hot wallet variations to spread the risk.
I think this is actually one of the barriers to proper bitcoin adoption at the moment. Until we have more storage and insurance services, most people won't like the idea of "keeping" their coins in the form of a long number somewhere. Most likely that's only really going to appeal to hardened bitcoiners, who understand the protocol well enough to do it properly.
Ha.... I don't keep much on my ring.
Wonder if Shrem was wearing it when he was arrested, and if any of the cops was smart enough to copy the private key off it.
I'd like a way of making them that minimises trust. Any ideas?
Wonder if Shrem was wearing it when he was arrested, and if any of the cops was smart enough to copy the private key off it.
I'd like a way of making them that minimises trust. Any ideas?
Trust, security against what?
There are many risks here. Robbery for the ring, robbery for the coins, the goldsmith steals your stuff, you want to quickly access your funds, inheritage, the list goes on and on.. :-)
So, generally speaking, we don't need one solution, but a whole system. And this one will be different depending on use case.
Ente
True, though I mean specifically my case, where I make rings/jewellery etc for other people. I don't like the idea of them sending me encrypted keys, since they will only be as strong as the password they choose (and remember).
For people sending some one else their keys to engrave or similar:
- Trust the creator, like Mike/Casascius
- Encrypt the key, there's a BIP for that (and remember the password)
- Split the key between several rings/engravers (shamirs SSSS, or half a key for each)
In all three cases the user has to trust someone: the engraver, himself or the engravers.
I, personally, don't like to need a password for my cold storage. Cold storage is, for me, the absolute last resort when everything else went up in flames (literally, computer burned away, or I am not able to redeem any coins any more).
Ente
We should ask Mark Karpeles what kind of cold storage he used, so we don't make the same mistake 
I heard he kept all the btc on a waterproof flashdrive at the bottom of an iced coffee.
It looks like his basic problem was not understanding the difference between cold and hot storage. But I don't know why that surprises me...
We should ask Mark Karpeles what kind of cold storage he used, so we don't make the same mistake
I heard he kept all the btc on a waterproof flashdrive at the bottom of an iced coffee.
He forgot about it and threw away the container in frustration. Now the flashdrive is in a junkyard in the landfill in the UK sharing tea and crupmets with the 7K BTC hard drive.
Ha.... I don't keep much on my ring.
Wonder if Shrem was wearing it when he was arrested, and if any of the cops was smart enough to copy the private key off it.
I'd like a way of making them that minimises trust. Any ideas?
Wonder if Shrem was wearing it when he was arrested, and if any of the cops was smart enough to copy the private key off it.
I'd like a way of making them that minimises trust. Any ideas?
Trust, security against what?
There are many risks here. Robbery for the ring, robbery for the coins, the goldsmith steals your stuff, you want to quickly access your funds, inheritage, the list goes on and on.. :-)
So, generally speaking, we don't need one solution, but a whole system. And this one will be different depending on use case.
Ente
True, though I mean specifically my case, where I make rings/jewellery etc for other people. I don't like the idea of them sending me encrypted keys, since they will only be as strong as the password they choose (and remember).
We should ask Mark Karpeles what kind of cold storage he used, so we don't make the same mistake
I heard he kept all the btc on a waterproof flashdrive at the bottom of an iced coffee.
We should ask Mark Karpeles what kind of cold storage he used, so we don't make the same mistake
Does anybody have any experience with https://bitcoinpaperwallet.com/ and how trustworthy are they?
Or does anybody know how I can verify if the live CD with the paper wallet printer software can be trusted?
I've made paper wallets from there and it seems like one of the 'safest' methods there is.Or does anybody know how I can verify if the live CD with the paper wallet printer software can be trusted?
The code is open source so you can check it: https://github.com/cantonbecker/bitcoinpaperwallet
There are also PGP signatures so you can check your downloaded file is uncorrupted.
Best method is to download the source and run it on an offline comp to generate and print wallets and then format that comp.
I've also imported from these wallets into blockchain.info without issues.
Hope that helps.
Ha.... I don't keep much on my ring.
Wonder if Shrem was wearing it when he was arrested, and if any of the cops was smart enough to copy the private key off it.
I'd like a way of making them that minimises trust. Any ideas?
Wonder if Shrem was wearing it when he was arrested, and if any of the cops was smart enough to copy the private key off it.
I'd like a way of making them that minimises trust. Any ideas?
Trust, security against what?
There are many risks here. Robbery for the ring, robbery for the coins, the goldsmith steals your stuff, you want to quickly access your funds, inheritage, the list goes on and on.. :-)
So, generally speaking, we don't need one solution, but a whole system. And this one will be different depending on use case.
Ente
Guys, what do you think about buying an android phone with the sole purpose of keeping bitcoins? would that be safe?
One could encrypt the backup folder onto a USB stick or your computer, and keep the phone in cold storage - never mind having a sim card or anything.
would the bitcoin app for Android phones be secure to do this? you could also set a key to unlock your phone.
One could encrypt the backup folder onto a USB stick or your computer, and keep the phone in cold storage - never mind having a sim card or anything.
would the bitcoin app for Android phones be secure to do this? you could also set a key to unlock your phone.
Android is bad news for malware. Cold storage should be just that: totally offline.
I've experimented with the punches. I modified a python script on mini private keys (google it for the original) to use only caps and numbers. You still get 145 bits of entropy, which is stronger than the original Casascius coins and should do the job fine.
I'd been playing with the idea of coin rings for my wife's Christmas present, so I banged an all-caps mini private key into a 50 eurocent coin (Nordic gold, thick, malleable, hypoallergenic...) and turned it into a ring using a mandrel and hammer. Nice, chunky, manly ring with the code faintly visible on the inside (especially after being given the fire treatment like in Lord of the Rings). The one problem is that anyone who knew that's what it was could steal your coins, but 1) that's true of any form of cold storage, 2) they'd have to know about it, and 3) they'd have to get it off my finger first, and then get to a computer faster than me (I memorised the code for good measure).
I'd love to make these for other people, but haven't figured out a straightforward way of doing it without trust. Unlike Casascius, I'm not prepared to give out my home address in the interests of transparency.
If I ever own enough btc to make it worthwhile, I'll probably experiment with saline etching of stainless steel and bang some more keys into aluminium blocks, like little metal bricks. Reckon you could hide them in stud walls, under floor boards, or wherever - varnish or oil them to make sure there would be no corrosion first if they came into contact with damp.
A riddle:
Why is Charlie Shrem called "four-finger Charlie" by his friends?
All right, that's an easy one ;-)
Ente
Ha.... I don't keep much on my ring.
Wonder if Shrem was wearing it when he was arrested, and if any of the cops was smart enough to copy the private key off it.
I'd like a way of making them that minimises trust. Any ideas?
Sorry if the question has been answered elsewhere. Is it correct to assume that the creator of these coins may have a copy of the secret key? I am not saying that he has a copy or that he intends to use it. I am talking about technical possibility.
A technical possibility? Absolutely.
Casascius has about as good of a reputation in the bitcoin community as anyone can have. He has stated that he absolutely does not maintain records of the private keys. You have to decide for yourself if you trust that claim or not.
I have my casascius coins hidden in my freezer!
Sorry if the question has been answered elsewhere. Is it correct to assume that the creator of these coins may have a copy of the secret key? I am not saying that he has a copy or that he intends to use it. I am talking about technical possibility.
Have it engraved under a ring on your finger.
Get a trusted jewleller to do it and never give him or let him copy the key / phrase and make sure you are present when they do it.
Simple, always on your person and if on a wedding ring, never comes off.
I got a better one:Get a trusted jewleller to do it and never give him or let him copy the key / phrase and make sure you are present when they do it.
Simple, always on your person and if on a wedding ring, never comes off.
Write half of the private key on your ring, and half of if on another ring that a family member keeps.
A thief would need both of the rings to steal your coins.
And you should of course have "backups" of the rings in case of loss: keep the backups at two different bank vaults.
You should also go to two different jewelers to engrave half of the private key, none of them have the full key so they can't take your coins, unless they know each other and collude to steal your coins.
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