Bitcoin Forum

Okay, basically I'm thinking of starting a cold storage BTC website, I've got funds etc.

How much would cost to create:

1. Secure Login/Register Database.
2. Balance Checker
3. Transaction List

You won't have personal BTC wallets on this website, you'll send the funds to our wallet - we'll transfer those funds to a virgin computer and shuffle the funds around.  You'll pay a very little % to hold the funds with us.  So I'm asking, how much would it take to create the above 3 statements?  I need a realistic quote please, thank you.

For such project you need your own CMS (Content Management System, I mean website engine), which will cost with it's own design nearly 1000$ and maybe more, I talk with prices which are in my country, plus to my mind you need another server for backup, plus SSL sertiticate for more trust and secure, another 2 thing, balance checker and Transaction lists are already in plans of new and unique engine.

I'm intrigued to find out how this would work.
Cold storage means that the coins are kept offline. How exactly do you plan on creating a form of a cold storage website if that defeats the purpose of cold storage.
I'm just a little confused but would love to hear about this!

Well I don't know what is cold wallet or else, but maybe you can use coinbase API to generate deposit address for the user, checking balance, and others, and this will be a cheaper than using a cold wallet.

I don't think that most users could trust you with their bitcoins. Users only have a website to deposit, once you deposit, bitcoins go to an address that only you will have the private key. You can just disapear with the money, and no one would recover it.

I think before to start, you will need to develope more your idea, how an user could claim their cold storage, how you can prove that you won't run with the money.

I  agree, that's a problem

This is not something that someone can prove. In order for this to be a remotely viable option, the OP will need to demonstrate his integrity over time, including his ability to safeguard other people's money over time.

I think a better solution would probably be something along the lines of how the coinbase vault works. The OP would only control 1 of 3 keys, and would only sign transactions after a certain, agreed upon time delay.

Why would you want cold storage online when there are hardware and paper wallets?

Exactly.  Think of another business idea..

The whole point of a cold storage setup is that only you have access to it, and since it is offline, it's invulnerable to hacking attacks.

What you're proposing is that you hold the cold storage keys. For all we know, the keys may be stored offline, but online or even physically you can print them out or something. Why would we trust you?

this idea makes no sense to me.

cold storage means having nothing to do with anything online, and having your private keys 100% under your control.

I think that, all in all, you should need  a cms, but it depends, you will need a database to keep trace of what customers are sending, and some background scripts who will manage btc transfers to the cold wallets.
So, i think that it wouldn't cost more then 1000 bucks.