About paper wallet from legendary creator
Quote from: deaconboogie on March 19, 2014, 01:17:10 PM
This is a good time to remind people of the importance of paper wallets.
We made an easy to follow tutorial for cryptocoin users here:
http://mooncoin.info/?p=129It's written for Mooncoin but the same principle works for BTC and anything else.
CoinEx was (and may still be) a great exchange. They were the first to list MOON (my coin) after launch and I've enjoyed using their platform as it was fast and stable. Hopefully they bounce back soon!
I like the idea of paper wallets, but really this is my money, the future of everyone's wealth, I just don't like the idea of that being on paper, it's too easy to get messed up or even worse, I can only implement so many security features into a paper wallet, but a digital wallet that is not on my pc or smart phone a actual digital wallet that if it is stolen, I have the back up on a cold storage device that I can later back up on a new digital wallet I buy at the store, while the thief has to struggle for a thousand years trying to brute force my stole wallet since I had it encrypted with something fierce and layered.
I like the idea of using a paper wallet to transfer money to a family or friend, or donation at church, homeless or fundraiser for school, but to keep my vault of coins on? no thanks, we can do even better.
Where thou are you Digital Wallet Stick Thingamajig...
If your digital (or paper) wallet is encrypted, and you die or become disabled, then your bitcoin just disappears?
A paper wallet in a fire safe, with redemption instructions in your will, seems like a good choice for moderate amounts of BTC. For larger amounts you've gotta do something more complicated, though. Or actually trust someone with your BTC.
Of course, this assumes you give a crap about what happens if you die or become disabled.
Paper wallets are like bearer bonds. Print them, laminate, and tuck in a fire safe or safe deposit box.
(For those who don't know... When you deposit into a paper wallet address, the transaction to the address goes into the blockchain. When you load the private key into your on-line wallet, the wallet address becomes live and that transaction will magically appear and its value will get added to your balance.)
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