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Topic: Where do you store most of your coins for long term storage? - page 2. (Read 6064 times)

donator
Activity: 784
Merit: 1000
What about using steganography tool to hide your private keys inside an image and then post it on Facebook ? Smiley
legendary
Activity: 2912
Merit: 1060
Then you should assume you got 0, future transaction or not.

It's not a secret, they can see the future transaction. And anyone taking a private key better sweep it instantly.

But not if you're meeting in a public place without access.
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
It's not a secret, they can see the future transaction. And anyone taking a private key better sweep it instantly.

But not if you're meeting in a public place without access.
legendary
Activity: 2912
Merit: 1060
It's not a secret, they can see the future transaction. And anyone taking a private key better sweep it instantly.
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
Most answers have revolved around hidden files, USB keys, scraps of paper, passwords etc. But what happens when you die?

Let's assume that you have some significant wealth in BTC, and that you would like your spouse or children to inherit it. How do you create a wallet that is both secure against theft but can still actually be spent by authorised individuals after your death?

My current thinking is a brain wallet saved on a USB key, deposited with an attorney. Give the password to next of kin, make sure they remember it but don't explain what it's for.

You can create a bicoin transaction that will only be spent some time in the future. So what you do is:

1) Create a transaction that will send all your coins to a spouse or children two years from now.
2) Two years later, before the time runs out, move all the coins to another address, and if needed, create yet another delayed transaction.
3) Since the coins no longer exist in the address used by the original delayed transaction, that transaction will fail and be rejected by the system.

Rinse/Repeat.

That's a really great solution if you leave them on an active network. How do you do that and not expose yourself to risk?

You aren't leaving them on an active network. All you do is create the transaction, sign it, and broadcast it. You can create and sign it on an offline storage computer.

Ok but don't they need to be available at the time of the send?

No. That's why it's a transaction that will spend at some time in the future. You just create it, telling it that it can only be included in a block at some time in the future, and sign it once, and the network holds it until it's ready to be included and confirmed. You're not required for anything else.

That's a great idea. I've been looking for a solution to this dilemma for a while now. Let me ask you one more question about this. If I wanted to rip someone off then I could sell them a paper wallet that will effectively be worthless an hour or two from the time I sell it because I can set the coins to automatically just return to me. Correct?
legendary
Activity: 1680
Merit: 1035
Most answers have revolved around hidden files, USB keys, scraps of paper, passwords etc. But what happens when you die?

Let's assume that you have some significant wealth in BTC, and that you would like your spouse or children to inherit it. How do you create a wallet that is both secure against theft but can still actually be spent by authorised individuals after your death?

My current thinking is a brain wallet saved on a USB key, deposited with an attorney. Give the password to next of kin, make sure they remember it but don't explain what it's for.

You can create a bicoin transaction that will only be spent some time in the future. So what you do is:

1) Create a transaction that will send all your coins to a spouse or children two years from now.
2) Two years later, before the time runs out, move all the coins to another address, and if needed, create yet another delayed transaction.
3) Since the coins no longer exist in the address used by the original delayed transaction, that transaction will fail and be rejected by the system.

Rinse/Repeat.

That's a really great solution if you leave them on an active network. How do you do that and not expose yourself to risk?

You aren't leaving them on an active network. All you do is create the transaction, sign it, and broadcast it. You can create and sign it on an offline storage computer.

Ok but don't they need to be available at the time of the send?

No. That's why it's a transaction that will spend at some time in the future. You just create it, telling it that it can only be included in a block at some time in the future, and sign it once, and the network holds it until it's ready to be included and confirmed. You're not required for anything else.
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
Most answers have revolved around hidden files, USB keys, scraps of paper, passwords etc. But what happens when you die?

Let's assume that you have some significant wealth in BTC, and that you would like your spouse or children to inherit it. How do you create a wallet that is both secure against theft but can still actually be spent by authorised individuals after your death?

My current thinking is a brain wallet saved on a USB key, deposited with an attorney. Give the password to next of kin, make sure they remember it but don't explain what it's for.

You can create a bicoin transaction that will only be spent some time in the future. So what you do is:

1) Create a transaction that will send all your coins to a spouse or children two years from now.
2) Two years later, before the time runs out, move all the coins to another address, and if needed, create yet another delayed transaction.
3) Since the coins no longer exist in the address used by the original delayed transaction, that transaction will fail and be rejected by the system.

Rinse/Repeat.

That's a really great solution if you leave them on an active network. How do you do that and not expose yourself to risk?

You aren't leaving them on an active network. All you do is create the transaction, sign it, and broadcast it. You can create and sign it on an offline storage computer.

Ok but don't they need to be available at the time of the send?
legendary
Activity: 1680
Merit: 1035
Most answers have revolved around hidden files, USB keys, scraps of paper, passwords etc. But what happens when you die?

Let's assume that you have some significant wealth in BTC, and that you would like your spouse or children to inherit it. How do you create a wallet that is both secure against theft but can still actually be spent by authorised individuals after your death?

My current thinking is a brain wallet saved on a USB key, deposited with an attorney. Give the password to next of kin, make sure they remember it but don't explain what it's for.

You can create a bicoin transaction that will only be spent some time in the future. So what you do is:

1) Create a transaction that will send all your coins to a spouse or children two years from now.
2) Two years later, before the time runs out, move all the coins to another address, and if needed, create yet another delayed transaction.
3) Since the coins no longer exist in the address used by the original delayed transaction, that transaction will fail and be rejected by the system.

Rinse/Repeat.

That's a really great solution if you leave them on an active network. How do you do that and not expose yourself to risk?

You aren't leaving them on an active network. All you do is create the transaction, sign it, and broadcast it. You can create and sign it on an offline storage computer.
legendary
Activity: 2156
Merit: 1393
You lead and I'll watch you walk away.
Most answers have revolved around hidden files, USB keys, scraps of paper, passwords etc. But what happens when you die?

Let's assume that you have some significant wealth in BTC, and that you would like your spouse or children to inherit it. How do you create a wallet that is both secure against theft but can still actually be spent by authorised individuals after your death?

My current thinking is a brain wallet saved on a USB key, deposited with an attorney. Give the password to next of kin, make sure they remember it but don't explain what it's for.

You can create a bicoin transaction that will only be spent some time in the future. So what you do is:

1) Create a transaction that will send all your coins to a spouse or children two years from now.
2) Two years later, before the time runs out, move all the coins to another address, and if needed, create yet another delayed transaction.
3) Since the coins no longer exist in the address used by the original delayed transaction, that transaction will fail and be rejected by the system.

Rinse/Repeat.

That's a really great solution if you leave them on an active network. How do you do that and not expose yourself to risk?
legendary
Activity: 1680
Merit: 1035
Most answers have revolved around hidden files, USB keys, scraps of paper, passwords etc. But what happens when you die?

Let's assume that you have some significant wealth in BTC, and that you would like your spouse or children to inherit it. How do you create a wallet that is both secure against theft but can still actually be spent by authorised individuals after your death?

My current thinking is a brain wallet saved on a USB key, deposited with an attorney. Give the password to next of kin, make sure they remember it but don't explain what it's for.

You can create a bicoin transaction that will only be spent some time in the future. So what you do is:

1) Create a transaction that will send all your coins to a spouse or children two years from now.
2) Two years later, before the time runs out, move all the coins to another address, and if needed, create yet another delayed transaction.
3) Since the coins no longer exist in the address used by the original delayed transaction, that transaction will fail and be rejected by the system.

Rinse/Repeat.
legendary
Activity: 3416
Merit: 1912
The Concierge of Crypto
deadmansswitch.net can email for you when you die. The free version sends an email 2 months from now.

Alternatively, you can use google's inactive account manager.

PGP / GPG encrypt so no one else can read it. Your heirs better know how to use it.
legendary
Activity: 1630
Merit: 1000
Most answers have revolved around hidden files, USB keys, scraps of paper, passwords etc. But what happens when you die?

Let's assume that you have some significant wealth in BTC, and that you would like your spouse or children to inherit it. How do you create a wallet that is both secure against theft but can still actually be spent by authorised individuals after your death?

My current thinking is a brain wallet saved on a USB key, deposited with an attorney. Give the password to next of kin, make sure they remember it but don't explain what it's for.

Actully I think the best way would be a private key encrypted with pass guardian and have the keys distributed to trusted people.
newbie
Activity: 12
Merit: 0
Most answers have revolved around hidden files, USB keys, scraps of paper, passwords etc. But what happens when you die?

Let's assume that you have some significant wealth in BTC, and that you would like your spouse or children to inherit it. How do you create a wallet that is both secure against theft but can still actually be spent by authorised individuals after your death?

My current thinking is a brain wallet saved on a USB key, deposited with an attorney. Give the password to next of kin, make sure they remember it but don't explain what it's for.
member
Activity: 70
Merit: 10
legendary
Activity: 2912
Merit: 1060
Ummm so I bought 3 of them and I think they are fake.

I was able to write and erase, format, etc.. WTF? Erasing kinda makes sense if the space keeps decreasing. But it didn't, format brought it all back.

Help anyone? I don't think WORM needs to be initialized.

What do you guys think about the Sandisk memory vault or WORM(Write Once Read Many) SD card? Both last 100 years.
http://www.sandisk.com/products/usb/memory-vault/
http://www.ssd.gb.com/Products/SanDisk_Industrial_and_Enterprise/End_Of_Life/SD_Worm_Card/index.php

You can get a 1gb WORM SD card for $13.
http://www.ebay.com/itm/SanDisk-1GB-WORM-SD-Memory-Card-/400485010572
full member
Activity: 168
Merit: 100
This might sound silly but I wrote the hex keys on 4x6 and put them in sealed manilla envelopes.

Next opportunity one is going into my safe deposit box and one (identical keys) are going into parents. That way if I die they can access them before waiting for the legal stuff to give them access to my box.

No QR code, no encryption, just written with a quality pen. Ink allowed to dry properly before putting the 4x6 into envelope.

Once they big enough, I'll look into that cool thing I saw where you can create a transaction that requires multiple keys to spend and put the bulk of it into that kind of transaction just to reduce the highly unlikely odds of someone getting my coins via collision.
legendary
Activity: 2912
Merit: 1060
That's cool, I'd get a few and put armory backups.
sr. member
Activity: 362
Merit: 250
member
Activity: 70
Merit: 10
Blockchain.info baby!
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