Simplest way to stash bitcoin?

[Richy_T]

Print the wallet on a t-shirt and stand in the background at a famous event so you can be the basis for a blockbuster movie-from-a-book a couple of centuries from now.

Seriously though, make sure to have offsite backups. That is, in multiple places. That likely multiplies the risk of attack so encryption is no doubt essential. As to archiving, paper is good but has issues. Anybody offering laser-punched titanium foil sheets?

[chingping]

Awesome thread.  I love the idea of being able to print my own currency!

[wutang56567]

You can use websites like paytunia.com to have an online walet which could be accessed anywhere in case of computer crash.. even though I still use an offline walet. I am a newb as well, only 1 month in the bitcoin game. I am currently trying to start a mining operation but it is hard, because I do not know if my rig will be worth it when/if Butterfly labs comes out with the ASIC models... ANy advice???

Any donations or help greatly appreciated


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[DannyHamilton]

. . .I am currently trying to start a mining operation but it is hard, because I do not know if my rig will be worth it when/if Butterfly labs comes out with the ASIC models... ANy advice??? . . .

Depending on the cost of electricity where you live and the exchange rate at the time, you may find that it won't be worth 5 weeks from now even if Butterfly labs doesn't come out with the ASIC models.  The block reward will be cut in half, and unless half the hashing power drops out of the network or the exchange rate doubles (or some combination of the two), mining will become much less profitable for those who pay for their electricity.

[nobbynobbynoob]

Welcome wutang, good luck with a GPU mining op at this point. If the LTC exchange keeps rising that's probably more profitable with CPU/GPU than BTC, LOL.

I'll ship you a penny to help along.

[Aahzman]

1. print addresses and private keys

2. stash the printouts in the holes of cinderblocks

3. build wall using concrete using the blood of your enemies instead of water.

4. wait.

5. profit.

[mining4fun11]

Get a laptop, connect to the network, send coins to it and then stuff it in a safety deposit box till you need it.  Also make sure you make a backup of the wallet.  Paper and usb. 

[chandler22]

Is blockchain.info not legit? I was under the impression you could export your wallet and store it securely as well?

[Undefined31415]

*Maybe* an external SSD.

[Aahzman]

Is blockchain.info not legit? I was under the impression you could export your wallet and store it securely as well?

i keep a small cache of bitcoins on a blockchain.info wallet w dual authentication, AND daily backups/exports. For my "savings account" I use an encrypted wallet.dat on another client, backed up to a truecrypt container on an AES 256bit hardware encrypted USB key.

[JeTJL]

I used the paper wallet method with 3 paper backups with bit address. If you are hell bent on keeping your bitcoins on a disk though you can buy the m-disk, which are CDs that can last for at least a 1000 years, if bitcoins, DVD drives or for that matter humans last for that far into the future. You have to buy a specific DVD burner but its not that expensive and any regular DVD player can read ithttp://millenniata.com/

[wutang56567]

Welcome wutang, good luck with a GPU mining op at this point. If the LTC exchange keeps rising that's probably more profitable with CPU/GPU than BTC, LOL.

I'll ship you a penny to help along.

Hahha thanks, yeah i got an old cpu running now for mining so I havent spent any money, plus I dont pay my power so its all profit as of now .

[kwoody]

Sorry... I know this has been answered, but I'm tired of searching all this technical stuff.  I simply want to buy $200 worth of bitcoin and sock it away on a disc for a few years.  I don't want it to be on my hard drive in case I get hacked or my comp crashes.

I am very non technical, what is the easiest way to do this? Thank you, Ann.

Paper wallet in your bra. We need more women here, seriously.. I have smacked myself for being sexist.
Anywho, once you have a wallet.dat file with the desired amount of coins on it, copy that wallet.dat file to a few different thumb drives, stash them in various places, and delete the wallet.dat that's stored on your hard drive. This is often referred to as 'cold storage'... keeping data offline.

[nobbynobbynoob]

For cold storage, the wallet.dat needs to be created offline (i.e. on a separate non-networked system) so it doesn't ever touch the Internet. The proper, fully secure way to do it is to assume the online system is compromised (even though it probably isn't).

[PrintCoins]

Simplest way to stash bitcoin - don't do it!

Bitcoins are ment to be spent! All this hoarding does nothing for the bitcoin economy.

If everyone just stashed bitcoins away forever, do you know what bitcoins would be worth once you did take them out again - squat.

You may be dead in 10 years - and all that investment in bitcoin will vanish with your squishy brain wallet.

Buy some alpaca socks and enjoy your bitcoins today.

One day, when a super-quantum computer cracks the encryption to all of the bitcoin addresses in 5 minutes, and everyone cries about their lost coins, you will have warm and comfy feet.

This advise applies to hoarding of all monies - including precious metals (I heard that there is enough gold in the earth's core to cover the earth with 1 meter deep of gold).

 Happiness is the only thing you should hoard.

[Richy_T]

Simplest way to stash bitcoin - don't do it!

Bitcoins are ment to be spent! All this hoarding does nothing for the bitcoin economy.

If everyone just stashed bitcoins away forever, do you know what bitcoins would be worth once you did take them out again - squat.

You may be dead in 10 years - and all that investment in bitcoin will vanish with your squishy brain wallet.

Buy some alpaca socks and enjoy your bitcoins today.

One day, when a super-quantum computer cracks the encryption to all of the bitcoin addresses in 5 minutes, and everyone cries about their lost coins, you will have warm and comfy feet.

This advise applies to hoarding of all monies - including precious metals (I heard that there is enough gold in the earth's core to cover the earth with 1 meter deep of gold).

 Happiness is the only thing you should hoard.

Yep, spend spend spend. Even when your brain and your heart are telling you not to. Even when it hurts. Spend spend. After all, it's the way all the economies of the world have been run recently and look at how well they're doing.

[panda1]

Print the wallet on a t-shirt and stand in the background at a famous event so you can be the basis for a blockbuster movie-from-a-book a couple of centuries from now.

Haha, I am tempted to do this!