Don't rely solely on hardware wallets they are peaces of shit when it comes to long term un-powered storage. Use a paper wallet + HDD copies and online encrypted and hidden backups together. Use the strongest level of encryption you can and use a password that has rare words numbers and symbols.
Hardware wallets are really cool they are a great way to strike up a conversation about bitcoin and make for great small talk but I really wish people would stop spreading the idea that they are the default/go to method of storing Bitcoins for a long time periods.
They use the same kind of flash memory as USB thumb drives and the gates/data they hold can decay over time if left for prolonged periods of time without power to cap/top off the power levels in the gates.
Topic: What happens in future to your BTC if they are stored on hard wallet ? - page 2. (Read 1236 times)
May 31, 2017, 10:32:40 PM
May 31, 2017, 10:23:03 PM
Any ideas what could happen to your BTC holdings if your storing them on an offline hard wallet and want to sell them 5-10 years later? Would there be code issues where the BTC you have now will not be recognized or cashable at that that time ?
Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?
Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?
Yes it possible, and you have to make sure that your hardware wallet firmware always uptodate, because of continous bitcoin development hardware wallet need to update.
May 31, 2017, 09:52:43 PM
5-10 years is a very long time. many things can happen. it is a better idea to keep yourself updated about bitcoin regularly by listening to the news.
TryNinja is correct, however there is an if behind it. if nothing happens.
bitcoin is still in beta, and although this is highly unlikely but if a bug is found in the code or in the way private keys are used for example a weakness in ECDSA then you may need to take actions such as moving funds to the new set of keys of that time in the future.
TryNinja is correct, however there is an if behind it. if nothing happens.
bitcoin is still in beta, and although this is highly unlikely but if a bug is found in the code or in the way private keys are used for example a weakness in ECDSA then you may need to take actions such as moving funds to the new set of keys of that time in the future.
legendary
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Core dev leaves me neg feedback #abuse #political
May 31, 2017, 08:59:02 PM
I wont be using segwit addresses if they are coming out. there's a possibility miners could at some future point decide not to validate their signatures.
May 31, 2017, 07:00:43 PM
Any ideas what could happen to your BTC holdings if your storing them on an offline hard wallet and want to sell them 5-10 years later? Would there be code issues where the BTC you have now will not be recognized or cashable at that that time ?
Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?
A private key is forever a private key. Don't worry about "changes in the code" because you will be able to cash out your Bitcoins the same way you can right now just by restoring your wallet with your seed or by importing your priv key.Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?
Hey Try ninja, i sent PM, could u reply ?
thnx
May 31, 2017, 06:45:33 PM
Hey Try ninja, i sent PM, could u reply ?
thnx
thnx
May 31, 2017, 06:39:39 PM
Any ideas what could happen to your BTC holdings if your storing them on an offline hard wallet and want to sell them 5-10 years later? Would there be code issues where the BTC you have now will not be recognized or cashable at that that time ?
Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?
A private key is forever a private key. Don't worry about "changes in the code" because you will be able to cash out your Bitcoins the same way you can right now just by restoring your wallet with your seed or by importing your priv key. Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?
May 31, 2017, 06:36:59 PM
Any ideas what could happen to your BTC holdings if your storing them on an offline hard wallet and want to sell them 5-10 years later? Would there be code issues where the BTC you have now will not be recognized or cashable at that that time ?
Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?
Im curious because I bought a hard wallet but have no idea how usable the BTC version i have today will be in the future?
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