General rule:
Use your mobile device as bitcoin storage only when you are using your bitcoin in your daily activities, your need quick access to your BTC or trade with it etc.
There is absolutely no need to use your phone as your wallet and storing all yours coins on it is very bad idea.
I guess in the future, when bitcoin adoption by merchants will be more developed and you will be able to buy some necessities for BTC etc.
Keeping coins on your phone will have more sense then, but for now it is rather pointless.
Good rules to follow. Ledger is doing some interesting work with their Trustlets which may solve the problems of keeping your private keys secure on an Android phone. The beta is finished and you can download the Trustlet from the Play Store but will work only on specific Samsung phones. |
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If you are not in a hurry you may as well try to get the best price for the bitcoin you buy. You could wait for a down day when volume is over 10K on the daily chart at Bitstamp. If you are going to have a few thousand dollars tied up in bitcoin you really need a hardware wallet like Trezor to store your bitcoin private keys offline safe from theft. |
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chessnut's view on the current market conditions?
I am cautious about this count but it is a fair case for a halving bubble. There is a lot of opportunity for ambiguity here.  masterluc believed we are in historical III which would fit nicely with a halving bubble. |
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To store the coins on your phone is not that good.
Either a PC without internet connection (or which you rarely use for that) or get some hardware wallet for instance.Keepkey and Trezor are good to go.Another option is to print the keys on paper and store them safe somewhere no one else knows about it.
If you use Iphone and bread wallet, its fully secured. The Security of Iphone is the best and you will never lose your coins Nothing on a run of the mill phone is fully secured. Breadwallet is a decent wallet for iPhone but you should never store more than you can afford to lose on a phone wallet on either Android or iPhone. If you really need to use bitcoin securely from a phone the only way is to use a phone wallet that works in conjunction with a hardware wallet like Trezor or Ledger. That way your private keys are stored off the phone safe from malware or hijackers. Right now the only hardware wallet you can buy that works with iPhone is BitLox. For Android you have a lot to choose from. Breadwallet does not support any of the hardware wallets at present. |
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Buy a Trezor. Use a passphrase to protect your seed and store the seed safely away in a couple of places. The password you keep in your head. The seed if compromised is worthless without the passphrase.
ATM I consider Trezor a better solution than KeepKey or Ledger. KeepKey does not allow for a passphrase and I do not care for the 2FA using a phone Ledger requires. If someone comes out with a better solution than Trezor I would be the first to recommend it.
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You are safer to just stick with bitcoin. I believe there is a better chance bitcoin will survive compared to any altcoin out there. Bitcoin is risky, but less so than the alternatives. Expert traders may make money on the altcoin pump and dumps, but for the average joe who believes bitcoin is here to stay just buy and hold.
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Here is a screenshot of the faked ad:  and also the checkout:  |
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You probably should not expect klee will always post his latest analysis on this thread. Why not join CryptXO on Slack?
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So the spoof is the .co -vs- the .com domain?
Very complete replica........
The scam is the criminal behind this is trying to steal bitcoin by creating fake ads for an "SP45 Newton" miner and hoping he fools someone into buying and paying with bitcoin. So far the fake ads for the SP45 have appeared on three cloned websites, probably more to come. If you visit the legit Spondoolies-Tech.com site you will discover there is no such miner for sale. In fact Spondoolies has no miners for sale at all at this time. |
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One more scam site hosted at Namecheap, that makes three so far. Whoever the criminal is sure seems fond of using Namecheap to host his scams. |
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I just downloaded MultiBit HD. By now, I have used Multibit Classic. I am wondering how secure the 12 words passphrase of MultiBit HD is?
Acutally, the group of words are all known. Is it not possible to try all combination of the words in order to get the right pass? Something like a bruteforce attack.
Well, when you created the wallet and were asked to write down the seed phrase in order to restore the wallet if needed, you need to worry about keyloggers stealing your seed. Same with the password you use for the wallet to encrypt your private keys. This article from Forbes discusses bitcoin stealing malware and this was two years ago. The author recommended cold storage, specifically Trezor to keep your private keys offline and the use of a hardware wallet is more important today than two years ago. If you own more than a few bitcoin you should be using a hardware wallet or risk an unpleasant surprise one day to find your bitcoin stolen. |
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These phishing thieves are cloning websites and setting them up at Namecheap using similar domain names. Note the impostor has two L's in the name. "Sillicon" instead of Silicon. They are targeting Wordpress sites because there are tools out there to easily clone WP sites and so far are using Namecheap for domains and hosting. I think they are using Namecheap because they are ignoring my demands to take down the impostor site. Have you contacted their host and registrar? From their whois: Registrar Abuse Contact Email: Email Masking abuse@enom.comRegistrar Abuse Contact Phone: +1.4252982646 Also their host is Namecheap as you said. You can file Hosting & Legal and Abuse reports with them here. Also if anybody has a contact there, you should tell siliconangle.com do the same. I let the editor at siliconangle.com know of the hack. I spent $200 filing a takedown request with DMCA only to be told the hosting company ignores the DMCA. I do not think Namecheap gives a shit. |
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These phishing thieves are cloning websites and setting them up at Namecheap using similar domain names. Note the impostor has two L's in the name. "Sillicon" instead of Silicon. They are targeting Wordpress sites because there are tools out there to easily clone WP sites and so far are using Namecheap for domains and hosting. I think they are using Namecheap because they are ignoring my demands to take down the impostor site. |
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Looks like the fake website was removed. Getting a DNS error accessing it now
Not quite. You can still access the clone at http://btcmedia.net/index.htmlI have a takedown order in with DMCA so should be taken care of within a day or so. |
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The news website this was on is a carbon copy of https://bitcoinnewsmagazine.com/, specifically made to plant this scam. It had ~30 upvotes on Reddit before being removed. I don't blame you for finding it convincing, I also posted a link but promptly removed it after realizing that it was an attempt to defraud bitcoiners. I just found out my site had been cloned to a different URL and am working with the host to get it taken down. |
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You could easily memorise your private key and insert it into another wallet. The only thing you require is a superhuman memory as I can barely recall my own date of birth.
Alternatively you could memorise a seed for a wallet such as Electrum or Mycelium which would be a string of words. That's maybe less of an ask but still pretty fearsome.
Don't be tempted by brain wallets though. Better to leave the entropy out of human hands.
If you use a passphrase protected Trezor all you need to memorize is the PIN and passphrase. The seed is useless without the passphrase so you could store copies of the seed with several friends. Hiding in plain sight so to speak. Just do not forget your passphrase:) |
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.0001 is often just not enough anymore see http://bitcoinfees.21.co/ for real time recommended fee. Or you can just use .0005 for all transactions. Many wallets still use .0001 and you need to override that. |
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People will target you if they know you have coins or that you're likely to have some.
Best way to protect yourself if you're using a computer that is connected to the internet is to be careful for phishing scams and such.
Like other people mentioned, a good keylogger will just send the data collected offline when you it can connect to the internet.
I suppose it's less likely to get hacked running a Linux OS, but it doesn't eliminate the threat completely.
Well they will not find much because im broke lol. But im hoping that my small BTC wallet will be more valuable in the future. So im thinking about maybe buying a Trezor, as far as I know my coins will be isolated there, but im not sure if it's as easy as Bitcoin Core to create new sending and receiving addresses... I will eventually need to make the effort to learn about more isolated ways to store coins that don't depend on your computer not getting hacked, but since I don't have that much money I become lazy with the idea of having to do it. But go knows maybe in 5 years my Bitcoins are worth a lot so I should start looking for it. But until then i've just been doing backups of my wallet.dat and I have never had a problem. If you don't have a lot of coins and don't intend to spend/use them any time soon, perhaps a paper wallet would be the smartest choice then? Well it's not a lot, but for me it is very important, i don't want to lose it. I do use it sometimes, now that steam is accepting BTC I will be using it more, so I need to generate new sending addresses ( I never reuse a single address) so paper wallet is out of the question since you can't do anything with it. So maybe I should look into Trezor and learn how it works properly, but i will miss Bitcoin Core. using an on screen keyboard to type the key with your mouse might alleviate some of your worries mate.
Good idea actually. I wish window's keyboard was more lightweight tho, linux's virtual keyboard is better, i used it once, i think it was called florence or something. But this makes me a bit less paranoid to write my pass. Go buy the Trezor already. Once you have it you will kick yourself for waiting. Trezor is changing their backend from Bits of Proof to Bitpay Bitcore, you can run a Bitcore full node on an extra linux box if you want and point myTrezor.com to it. This sounds good but still confusing to me. First of all why do I need to log in to that mytrezor page to move funds? what if the webpage is down? I still need a lot to learn because the only software I really know how to use is Bitcoin-qt (Core) and I also know how to create paper wallets, but everything else is alien to me. I just don't understand why do I need to log to some webpage (from what I've read you need to do that) Also let's say that you connect your Trezor to a computer that's infected with a RAT or something, is Trezor immune to any problems your computer might have? you have to put a pass in the mytrezor thing too.. what if they steal that data? I think you should read the Trezor User Manual. It is an easy read and you will get your questions answered and also help you decide if Trezor is right for you. |
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People will target you if they know you have coins or that you're likely to have some.
Best way to protect yourself if you're using a computer that is connected to the internet is to be careful for phishing scams and such.
Like other people mentioned, a good keylogger will just send the data collected offline when you it can connect to the internet.
I suppose it's less likely to get hacked running a Linux OS, but it doesn't eliminate the threat completely.
Well they will not find much because im broke lol. But im hoping that my small BTC wallet will be more valuable in the future. So im thinking about maybe buying a Trezor, as far as I know my coins will be isolated there, but im not sure if it's as easy as Bitcoin Core to create new sending and receiving addresses... I will eventually need to make the effort to learn about more isolated ways to store coins that don't depend on your computer not getting hacked, but since I don't have that much money I become lazy with the idea of having to do it. But go knows maybe in 5 years my Bitcoins are worth a lot so I should start looking for it. But until then i've just been doing backups of my wallet.dat and I have never had a problem. If you don't have a lot of coins and don't intend to spend/use them any time soon, perhaps a paper wallet would be the smartest choice then? Well it's not a lot, but for me it is very important, i don't want to lose it. I do use it sometimes, now that steam is accepting BTC I will be using it more, so I need to generate new sending addresses ( I never reuse a single address) so paper wallet is out of the question since you can't do anything with it. So maybe I should look into Trezor and learn how it works properly, but i will miss Bitcoin Core. using an on screen keyboard to type the key with your mouse might alleviate some of your worries mate.
Good idea actually. I wish window's keyboard was more lightweight tho, linux's virtual keyboard is better, i used it once, i think it was called florence or something. But this makes me a bit less paranoid to write my pass. Go buy the Trezor already. Once you have it you will kick yourself for waiting. Trezor is changing their backend from Bits of Proof to Bitpay Bitcore, you can run a Bitcore full node on an extra linux box if you want and point myTrezor.com to it. |
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No problem. Trezor has the best user manual of any hardware wallet out there.
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