Topic: Wall Observer BTC/USD - Bitcoin price movement tracking &amp; discussion - page 17282. (Read 26609469 times)

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I solved this problem without having to spend money on a hardware wallet by
1- removing SIM card and factory-resetting my old phone, immediately putting it into airplane mode (wi-fi, bluetooth and everything else also manually disabled) and ENCRYPTING WITH STRONG PASSWORD (not draw pattern);
2- installing Electrum via APK stored on micro-SD;
3- generating new wallet in this air-gapped phone, then I imported x-pub to everyday brand new phone.

Now I can see balance, receive bitcoin and create unsigned transactions on the connected phone, then old phone signs transactions via QR-code.

Cheap and easy.

Ok, not bad, you basically have a DIY hardware wallet. Still not as much secure (physical access to phone and chip-off technique among others) and certainly not as convenient to use as a commercial hardware wallet.... But yes, its ok.

Hardware wallets are now less than $100 anyways.... That's also cheap, and easier.

deepcolderwallet

full member

Activity: 294

Merit: 103

Quote from: DieJohnny on May 08, 2017, 07:57:12 PM

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I solved this problem without having to spend money on a hardware wallet by
1- removing SIM card and factory-resetting my old phone, immediately putting it into airplane mode (wi-fi, bluetooth and everything else also manually disabled) and ENCRYPTING WITH STRONG PASSWORD (not draw pattern);
2- installing Electrum via APK stored on micro-SD;
3- generating new wallet in this air-gapped phone, then I imported x-pub to everyday brand new phone.

Now I can see balance, receive bitcoin and create unsigned transactions on the connected phone, then old phone signs transactions via QR-code.

Cheap and easy.

bitserve

legendary

Activity: 1862

Merit: 1530

Self made HODLER ✓

Quote from: DieJohnny on May 08, 2017, 07:57:12 PM

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I have been saying this same thing for four years, but I would take it a step further. Easiest and best way to secure your Bitcoin is printing your address and putting two copies in different safe deposit boxes. Then return 10 years later a millionaire.

Software wallets for even moderately competent tech people are complete jokes: passwords, veracrypt?, home partition encrypted, multiple backups, air gapped storage, military grade cement vaults, across continents, different governing body, multi sig, documented access protocol, protocol encrypted, protocol stored in multiple backup locations......OMFG

You are missing my point. Paperwallets also have its use case but... HOW DO YOU PLAN TO CONVERT THEM BACK TO BTC (MOVE THEM) WITHOUT USING A SOFTWARE WALLET?!??!!?

For god's sake, why can't people just follow my advice and buy a damn hardware wallet!

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

There ain't no safe deposit boxes within 100 miles of me, not that I trust the hosts not to make a giant balls up of it eventually. As ever, you're trusting someone else not to screw things up.

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I have been saying this same thing for four years, but I would take it a step further. Easiest and best way to secure your Bitcoin is printing your address and putting two copies in different safe deposit boxes. Then return 10 years later a millionaire.

Software wallets for even moderately competent tech people are complete jokes: passwords, veracrypt?, home partition encrypted, multiple backups, air gapped storage, military grade cement vaults, across continents, different governing body, multi sig, documented access protocol, protocol encrypted, protocol stored in multiple backup locations......OMFG

But what if both of those printed wallets happen to burn or become illegible and it's all gone? Nothing's perfect, we just all try to make it as good as possible. I keep my bitcoin on an old phone with nothing else installed on it that is only connected to WiFi when I make transactions. Works for me just fine, no thievery or anything big and I've had coins since around 2014.

DieJohnny

legendary

Activity: 1639

Merit: 1006

Quote from: becoin on May 08, 2017, 06:50:43 PM

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I have been saying this same thing for four years, but I would take it a step further. Easiest and best way to secure your Bitcoin is printing your address and putting two copies in different safe deposit boxes. Then return 10 years later a millionaire.

Software wallets for even moderately competent tech people are complete jokes: passwords, veracrypt?, home partition encrypted, multiple backups, air gapped storage, military grade cement vaults, across continents, different governing body, multi sig, documented access protocol, protocol encrypted, protocol stored in multiple backup locations......OMFG

Arcteryx

hero member

Activity: 728

Merit: 500

EtherSphere - Social Games

Quote from: ?? on ??

Uh so soon?
Now that was sooner than predicted by anyone here I would like to think. Undecided

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

Quote from: leowonderful on May 08, 2017, 06:16:32 PM

Meanwhile scrolling through threads of 2015 and the 300 dollar prices... Boy aren't we glad those days are finally over. With these trends 2500 is definitely possible by the end of the year, never set your sights too low with bitcoin

$2500 is possible next month. By the end of the year $10,000 is possible!

More and more people find out that selling bitcoin at next ATH and wait for correction to buy back is very stupid. Soon nobody will sell at whatever price and then price will go parabolic.

I haven't even spent large amounts of money since I bought at 600 and I don't plan on doing so unless an emergency arises or I really need it. If anything the rise is inevitable and anybody who says otherwise is likely an Altcoiner who's crying over selling their coins when they were cheaper. A fact not many know is that up to this month, anybody who has ever bought BTC and held has made profit, no matter at what price, assuming they have not sold. HODL ON!

BitcoinNewsMagazine

legendary

Activity: 1806

Merit: 1164

Quote from: leowonderful on May 08, 2017, 06:16:32 PM

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

The problem is increasingly sophisticated bitcoin malware. One guy on reddit last week lost 16 bitcoin from Bitcoin Core that was password protected. His hygiene may not have been as good as yours but your password is briefly vulnerable when you open your wallet. Hardware wallets are cheap now.

becoin

legendary

Activity: 3431

Merit: 1233

Meanwhile scrolling through threads of 2015 and the 300 dollar prices... Boy aren't we glad those days are finally over. With these trends 2500 is definitely possible by the end of the year, never set your sights too low with bitcoin

$2500 is possible next month. By the end of the year $10,000 is possible!

More and more people find out that selling bitcoin at next ATH and wait for correction to buy back is very stupid. Soon nobody will sell at whatever price and then price will go parabolic.

Arcteryx

hero member

Activity: 728

Merit: 500

EtherSphere - Social Games

Price is going insane right now! Shocked

Can't see any sane person selling any of their stash right now until it slows down a bit.
Can see it going to $1700 buy the end of the week. Cool

bitserve

legendary

Activity: 1862

Merit: 1530

Self made HODLER ✓

Quote from: spooderman on May 08, 2017, 05:16:13 PM

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

JayJuanGee

legendary

Activity: 3920

Merit: 11299

Self-Custody is a right. Say no to"Non-custodial"

holy wall bitfinex!

and.......?

A little while ago, I saw a buy wall of 360 coins at $1648.. now I see a little baby wall of 137 coins at $1645.

Seems we be going up and going to be testing the $1800 to $2000 range.. Maybe somewhere in the middle of that range will be the next test?

If we get past the $1800 to $2000 range, then here comes $3k to $5k testing (which I think is less likely to get past that one in this particular run.. but maybe that is the baby bear in me?)

leowonderful

legendary

Activity: 1624

Merit: 1130

Bitcoin FTW!

Meanwhile scrolling through threads of 2015 and the 300 dollar prices... Boy aren't we glad those days are finally over. With these trends 2500 is definitely possible by the end of the year, never set your sights too low with bitcoin

hodl_2015

member

Activity: 371

Merit: 57

Quote from: spooderman on May 08, 2017, 05:58:16 PM

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

harrymmmm

hero member

Activity: 576

Merit: 503

someone just ate a 1.5k wall on finex i believe?

I missed the actual destruction, but I saw the shattered remains in the transaction log.

Vin

legendary

Activity: 1166

Merit: 1015

Quote from: spooderman on May 08, 2017, 05:16:13 PM

holy wall bitfinex!

not holy ; )

spooderman

legendary

Activity: 1652

Merit: 1029

someone just ate a 1.5k wall on finex i believe?

RayX12

hero member

Activity: 952

Merit: 552