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Title: Best Way to Purchase and Secure $100,000+ of BTC? Post by: AgeraS on November 06, 2013, 07:46:20 PM I am going to purchase $100,000+ of BTC and would like to know what you think is the best way accomplish this matter. I have bought 100+ coins in the past so I am familiar with wiring to exchanges and I have also looked into Second Market, but their fees are higher than going through an exchange.
Additionally, what is the best way to long-term store this amount of coins? Would it be a bad idea to keep the coins on an exchange(s) and wait a few months for a Trezor? Should I just create paper wallets and dog tags and etch in the private key? Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: TKeenan on November 06, 2013, 07:57:53 PM Additionally, what is the best way to long-term store this amount of coins? Would it be a bad idea to keep the coins on an exchange(s) and wait a few months for a Trezor? Should I just create paper wallets and dog tags and etch in the private key? Download VanityGen. Unplug your computer from the internet. Create an address and private key. Convert output of VanityGen into an analogue form - do not put on your clipboard!!! Best way to do this is take a screenshot or photograph of it. Print the screenshot with the signing key. Smash the computer with a very large hammer. Put a drill through the hard drive and set it on fire. Put the printout into your safe at home. Sent lots of bitcoin to the address made by vanitygen. Safest way. Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: AgeraS on November 06, 2013, 08:17:49 PM Download VanityGen. Is this the correct version of VanityGen? https://github.com/samr7/vanitygen/releases (https://github.com/samr7/vanitygen/releases) Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: proudhon on November 06, 2013, 08:19:31 PM I am going to purchase $100,000+ of BTC and would like to know what you think is the best way accomplish this matter. I have bought 100+ coins in the past so I am familiar with wiring to exchanges and I have also looked into Second Market, but their fees are higher than going through an exchange. Additionally, what is the best way to long-term store this amount of coins? Would it be a bad idea to keep the coins on an exchange(s) and wait a few months for a Trezor? Should I just create paper wallets and dog tags and etch in the private key? Buy a computer, keep it disconnected from any and all networks, wipe the hard disk and install a fresh OS, install Armory in offline mode, and send any bitcoins you buy to the addresses you generate on your offline computer. You'll want to encrypt your Armory wallets on the offline computer and make paper backups. If you want more help with this, PM me and I'll walk you through it. Offline Armory is by far the easiest and most robust way to secure bitcoins. Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: gamer4156 on November 07, 2013, 12:57:49 AM With the price doing what it is doing, I assume you want to get this fast? If so make a post, meet someone and do the transaction. With the time for wires to go through who knows what could happen in that 2-5 day period.
Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: CAMTRONNNNN on November 07, 2013, 04:42:50 PM I am in the same exact position. Could be somewhat less, but somewhere in the vicinity of $100Kusd>BTC.
Obviously I agree with the above suggestions. Is there anything anyone would like to add to the above? Are there any safe, timely alternatives to the above? Thank you very much. Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: papaminer on November 07, 2013, 04:45:55 PM I am going to purchase $100,000+ of BTC and would like to know what you think is the best way accomplish this matter. I have bought 100+ coins in the past so I am familiar with wiring to exchanges and I have also looked into Second Market, but their fees are higher than going through an exchange. Additionally, what is the best way to long-term store this amount of coins? Would it be a bad idea to keep the coins on an exchange(s) and wait a few months for a Trezor? Should I just create paper wallets and dog tags and etch in the private key? Buy a computer, keep it disconnected from any and all networks, wipe the hard disk and install a fresh OS, install Armory in offline mode, and send any bitcoins you buy to the addresses you generate on your offline computer. You'll want to encrypt your Armory wallets on the offline computer and make paper backups. If you want more help with this, PM me and I'll walk you through it. Offline Armory is by far the easiest and most robust way to secure bitcoins. ohhhhh PROUDHON IS BACK... lol so is proudhon a BTC BELIEVER NOW? Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: escrow.ms on November 07, 2013, 04:50:53 PM Get privatekey engraved on some metal coin or something and keep it in a safe place.
You can also encrypt privatekey. Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: proudhon on November 08, 2013, 01:13:02 AM I am going to purchase $100,000+ of BTC and would like to know what you think is the best way accomplish this matter. I have bought 100+ coins in the past so I am familiar with wiring to exchanges and I have also looked into Second Market, but their fees are higher than going through an exchange. Additionally, what is the best way to long-term store this amount of coins? Would it be a bad idea to keep the coins on an exchange(s) and wait a few months for a Trezor? Should I just create paper wallets and dog tags and etch in the private key? Buy a computer, keep it disconnected from any and all networks, wipe the hard disk and install a fresh OS, install Armory in offline mode, and send any bitcoins you buy to the addresses you generate on your offline computer. You'll want to encrypt your Armory wallets on the offline computer and make paper backups. If you want more help with this, PM me and I'll walk you through it. Offline Armory is by far the easiest and most robust way to secure bitcoins. Yes ohhhhh PROUDHON IS BACK... lol so is proudhon a BTC BELIEVER NOW? Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: philip2000uk on November 08, 2013, 01:23:35 PM I am going to purchase $100,000+ of BTC and would like to know what you think is the best way accomplish this matter. I have bought 100+ coins in the past so I am familiar with wiring to exchanges and I have also looked into Second Market, but their fees are higher than going through an exchange. I'd say the last part. Although I bought 4btc and it's in a wallet. I should put them on paper but i'm trying to figure out how to do it. I don't have flash drives...I'm going to buy an HD SD card for my camera, maybe that will work? I don't know.Additionally, what is the best way to long-term store this amount of coins? Would it be a bad idea to keep the coins on an exchange(s) and wait a few months for a Trezor? Should I just create paper wallets and dog tags and etch in the private key? But if it's worth 10,000 pound next year then i'll buy some flash drives lol...If you have money then you could probably store it digitally too offline somewhere. I took a photo of a paper wallet i generated on bitaddress which im going to fill up using those free ones from visiting websites Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: kdrop22 on November 08, 2013, 11:19:21 PM Try Armory Offline Wallets.
Install two wallets a) Offline only machine: Offline wallet b) Online watch only wallet: on your primary machine. Better than paper wallets, incase you need to get to our BTC quickly. Title: Re: Best Way to Purchase and Secure $100,000+ of BTC? Post by: Sage on November 09, 2013, 09:41:08 AM I am going to purchase $100,000+ of BTC and would like to know what you think is the best way accomplish this matter. I have bought 100+ coins in the past so I am familiar with wiring to exchanges and I have also looked into Second Market, but their fees are higher than going through an exchange. Additionally, what is the best way to long-term store this amount of coins? Would it be a bad idea to keep the coins on an exchange(s) and wait a few months for a Trezor? Should I just create paper wallets and dog tags and etch in the private key? Best advise WAIT! Now is not the time to buy. Let this bubble cycle complete. You don't want to try to jump on a moving train. It could go to 500, 700, who knows... but it won't stay there long. Wait. Then buy on the next correction. Get everything in place ready to buy. The wait for the correction. When it comes don't #$^& around. You'll have only a few hours to make the buy before it rebounds. BTW litecoin is a much better deal right now then Bitcoin. |