I use the SHA256 hash of a picture of me standing in my kitchen to access my Bitcoin savings. I did not store the picture to be safe, because I can always take a new one but no one else can get a picture like that. I have not stored the picture anywhere so it's like a brain wallet but I feel it's more secure as that's more entropy than I'd like to just remember. I hope my house doen't burn down... I don't think so but maybe I should consider printing such a pic and taking it to a bank vault
My thoughts exactly, hope my balls won't gain volume, need to see my girl precisely every 2.432 days. |
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I don't even understand the question, am I the only one ?
How was the first exchange rate established? Because people thought it was worth $1 so they were willing to pay $1 for it. |
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Memorize a simple password in your head 1234BitcoinEater, then memorize the hashing procedure, e.g. SHA256(HEXTOBIN()) then use it as your password.
If you have multiple passwords you could combine multiple one way hashing algorithms and add 1 to the end of your memorized password, then every time you need a new one simply add 1 to it and hash the same way to get a completely different password.
Here's another hare brained scheme for you guys to consider: - Take out your camera and take a picture. - Make a hundred billion copies of that picture and stick it everywhere. In USB sticks, DVDs, memory cards. Throw them around the house. Make sure a few tiny memory cards end up behind the sofa like loose change. Even wear one as an amulet around your neck. - Use the sha256sum of the picture as your password. Very easy to do on *nix sha256sum my_not_so_secret_pic.png
- And if you need multiple passwords just append a number: echo "1" | cat - my_not_so_secret_pic.png | sha256sum
Now we can tie our BTC to our testicles, thanks for the great info. |
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Memorize a simple password in your head 1234BitcoinEater, then memorize the hashing procedure, e.g. SHA256(HEXTOBIN()) then use it as your password.
If you have multiple passwords you could combine multiple one way hashing algorithms and add 1 to the end of your memorized password, then every time you need a new one simply add 1 to it and hash the same way to get a completely different password.
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I have bought BTC with Paypal dozens of times, if you trust the guy then it's really no an issue. I hate Paypal but then again I hate banks too.
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So we should have ice cream coins for ice cream, bubble gum coins for bubble gum as well as lambocoins, sexcoins, porchecoins etc.
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You don't deserve a cent for Satoshis work.
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Funny how women want equal pay yet we don't see nearly 50% of Bitcoin members being women, e.g. if it wasn't for the brave men taking the risk as early adopters humanity wouldn't enjoy the wonderful gift which is Bitcoin.
Plus you could look outside the window and see that every brick is there because a man put it there. Just being a realist.
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It would be stupid to do so... I have 98% of my wealth in buildings and 2% in bitcoins.
Then you have 100% of your change in bitcoins, as per my original post. |
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The funny thing is that there are nearly no people that would store all of their "change" in BTC yet people keep complaining about early adopters being rewarded disproportionately...
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Judging by the replies I don't think a single person has read the actual post...
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Something terrible could happen to the internet like an solar flare knocking out half of the worlds computer systems - there is still a place for traditional commodities. A wise man would have a mix of investments - a balanced portfolio as it were.
It was the same thing that I suggested in the original post though! Please read it as well as the title, also if there was a solar flare you could wipe your ass with dollar bills and only fools would accept them in exchange for real world goods, however I would use the opportunity to hoard some BTC as soon as the interwebz is up if that ever happens. |
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We have already tipped him more than enough by adopting his currency /thread
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Reminds me of Fallout 3, this issss rawww dogg owe owe owe
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that's so reckless to put all your wealth into BTC. as far as we know, there is a 50/50 chance that BTC will even make it. no one really knows what's going to happen. it's fine to be for the bitcoin movement, but you could easily end up losing almost everything.
There is a 50/50 chance that BTC will make it but there is a 0% chance that USD would make it, if BTC crushes you would still have your farm land, real estate, businesses, investments etc since you only keep "change" in BTC, I am amazed at how many people didn't ready the original post. |
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All my wealth is in Bitcoin, though all of it has come from mining and trading. For the past two years I have been living in a dirt cheap apartment, eating noodles, and barely going out. I'm extremely fiat poor but have resisted any temptation to sell my coins.
I'm now trying to decide how I'd like to retire.
God bless, sound like me. |
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Couldn't really formulate it properly in the title, I guess storing wealth in intangible goods is stupid to begin with be it USD, BTC or Euros, it is much better to invest into real estate, businesses etc and only keep "change".
But would you make the switch to completely close off all your bank accounts and store all that "change" in BTC?
I have just closed my bank account and made the switch, pretty worried but would prefer to cut my nuts off rather than go back and open one.
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The fact that governments could simply ban it, like China almost did. China officials even said that "legitimacy of our national currency can not be chalenged" or something along those lines, so there's one reason for governments to ban it. And governments banning Bitcoin would effectively push it back to underground where it's only used by hackers and drug dealers.
Also, the fact that there's no central authority regulating the price means that Bitcoin is not very suitable for exchange for goods and services, due to volatility. But that might? change when/if Bitcoin becomes bigger.
Half of China are watching porn behind VPNs anyway, what stops them from broadcasting transactions as well? |
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We already know his address and can already tip him, some people do.
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