Is bitcoin paper wallet safe to dump bitcoins ?

[LFC_Bitcoin]

If BTC jumps up to +$100k.. how safe would you feel about your BTC?  

How safe would you feel storing your bitcoin anywhere if it went to 100k each?
I'd probably do an OTC (over the counter trade) with a big bitcoin organisation.
I've read about people doing them with large amounts, no hassle, no risk of an exchange going bust whilst holding your coins.
They take 5% but you get it all in one big lump.
Ideal imo.

[funkenstein]

If BTC jumps up to +$100k.. how safe would you feel about your BTC? 

That depends how much $100k is worth, doesn't it.

[letyouearn]

If BTC jumps up to +$100k.. how safe would you feel about your BTC?  

How safe would you feel storing your bitcoin anywhere if it went to 100k each?
I'd probably do an OTC (over the counter trade) with a big bitcoin organisation.
I've read about people doing them with large amounts, no hassle, no risk of an exchange going bust whilst holding your coins.
They take 5% but you get it all in one big lump.
Ideal imo.

I will make no delay in exchanging my all bitcoins fund to hard cash , if I came to know that btc price jumps to $100k . But i don't think so it will be possible. From last 6 months, btc price is just below $300 .

[spazzdla]

If BTC jumps up to +$100k.. how safe would you feel about your BTC?  

How safe would you feel storing your bitcoin anywhere if it went to 100k each?
I'd probably do an OTC (over the counter trade) with a big bitcoin organisation.
I've read about people doing them with large amounts, no hassle, no risk of an exchange going bust whilst holding your coins.
They take 5% but you get it all in one big lump.
Ideal imo.

I will make no delay in exchanging my all bitcoins fund to hard cash , if I came to know that btc price jumps to $100k . But i don't think so it will be possible. From last 6 months, btc price is just below $300 .

Not really talking about possibilities, just security.  Sure you feel secure with $20 on a wallet but with $100k you start to really think about how secure it actually is.

[LFC_Bitcoin]

If BTC jumps up to +$100k.. how safe would you feel about your BTC?  

How safe would you feel storing your bitcoin anywhere if it went to 100k each?
I'd probably do an OTC (over the counter trade) with a big bitcoin organisation.
I've read about people doing them with large amounts, no hassle, no risk of an exchange going bust whilst holding your coins.
They take 5% but you get it all in one big lump.
Ideal imo.

I will make no delay in exchanging my all bitcoins fund to hard cash , if I came to know that btc price jumps to $100k . But i don't think so it will be possible. From last 6 months, btc price is just below $300 .

Not really talking about possibilities, just security.  Sure you feel secure with $20 on a wallet but with $100k you start to really think about how secure it actually is.

How do you store your bitcoins then, what do you do to keep your coins locked, air tight?
I'm not a tech nerd so creating paper wallets offline with BIP38 encryption might be the best I can do.
I do have bitcoin core on a clean laptop & a couple of online wallets with 2 factor authentification.
Most of my stash is on paper wallets & that's how I feel safest.
I would be up for buying a trezor but would worry in the event of -

1.) I don't know how to use it
2.) I break it

[spazzdla]

I copy the bitaddress HTML to a CD.

RUn that CD on a harddrive that has never touched the web.

Create a "paper" wallet and encrypt it with a lengthy pass.

Print it to a PDF or TIF.

Burn the wallet to a CD.

Move the PDF to multiple USB's and CD's, physically print it.

DESTROY the harddrive I created it on.




You could also just the BTC core and create a wallet.dat file, encrypt it, but I do like the bitaddress.org setup for creating my offline wallets.



Create a few different wallets on that harddrive so I can store the BTC on several different wallets that have different passcodes.
Mainly so when I spend them I don't have to empty my entire stash and create a new wallet.



Sorry if I am coming off as a douche I just want everyone to be as secure as possible.  All for one, one for all.

[oblivi]

If BTC jumps up to +$100k.. how safe would you feel about your BTC?  

How safe would you feel storing your bitcoin anywhere if it went to 100k each?
I'd probably do an OTC (over the counter trade) with a big bitcoin organisation.
I've read about people doing them with large amounts, no hassle, no risk of an exchange going bust whilst holding your coins.
They take 5% but you get it all in one big lump.
Ideal imo.

I will make no delay in exchanging my all bitcoins fund to hard cash , if I came to know that btc price jumps to $100k . But i don't think so it will be possible. From last 6 months, btc price is just below $300 .

By the time Bitcoin reaches 100K a coin, the traditional banking system will be very degraded and countries knee deep(er) in debt. Are you really going to trust your "hard cash" enough? What if the fiat you are in crashes?
I think it's insane to dump all of it, I would keep some in BTC.

[newflesh]

If you haven't got access to a clean offline pc you could try this lazier method:

Download Tail OS
Burn to DVD
Boot (offline) and generate new wallet in Electrum
Write down seed (or memorise it)
Wait for the moon.

PS: Has anyone here actually reviewed the html from bitaddress?

[spazzdla]

If you haven't got access to a clean offline pc you could try this lazier method:

Download Tail OS
Burn to DVD
Boot (offline) and generate new wallet in Electrum
Write down seed (or memorise it)
Wait for the moon.

PS: Has anyone here actually reviewed the html from bitaddress?

This is the flaw in my method, I have not. 

[boopy265420]

First install some good antivirus on your computer and scan it well.Then download desktop wallet/client on your computer and encrypt it with some strong password with a combination of signs,letter and number both big and little. password must be at least 15 digits long and all done.Your bitcoins are safe.

[jonald_fyookball]

If you want to be very safe,
get a dedicated machine (old cheap laptop will do),
PERMANENTLY disable the internet (delete the wifi drivers),
and then use that machine to generate your addresses
and keys using physically generated entropy (physical dice or coins).

Attach a printer to it that has no access to the net and
never will be used for anything else.

[spazzdla]

If you want to be very safe,
get a dedicated machine (old cheap laptop will do),
PERMANENTLY disable the internet (delete the wifi drivers),
and then use that machine to generate your addresses
and keys using physically generated entropy (physical dice or coins).

Attach a printer to it that has no access to the net and
never will be used for anything else.

and keys using physically generated entropy (physical dice or coins).

Can you explain this to me please?

[jonald_fyookball]

If you want to be very safe,
get a dedicated machine (old cheap laptop will do),
PERMANENTLY disable the internet (delete the wifi drivers),
and then use that machine to generate your addresses
and keys using physically generated entropy (physical dice or coins).

Attach a printer to it that has no access to the net and
never will be used for anything else.

and keys using physically generated entropy (physical dice or coins).

Can you explain this to me please?

In simple terms,  a private key is essentially just a 256 bit number.
So you can for example, flip a coin 256 times, and you'll get
a binary string "001110100101010001011100010  etc"
You would then convert that probably to WIF format, etc, and
input that into a program or script to get your address.

If you have a 16 sided die, you can roll it 64 times and
get a 256 bit number.

The point is, you're generating the raw entropy from an unhackable
source.

[spazzdla]

If you want to be very safe,
get a dedicated machine (old cheap laptop will do),
PERMANENTLY disable the internet (delete the wifi drivers),
and then use that machine to generate your addresses
and keys using physically generated entropy (physical dice or coins).

Attach a printer to it that has no access to the net and
never will be used for anything else.

and keys using physically generated entropy (physical dice or coins).

Can you explain this to me please?

In simple terms,  a private key is essentially just a 256 bit number.
So you can for example, flip a coin 256 times, and you'll get
a binary string "001110100101010001011100010  etc"
You would then convert that probably to WIF format, etc, and
input that into a program or script to get your address.

If you have a 16 sided die, you can roll it 64 times and
get a 256 bit number.

The point is, you're generating the raw entropy from an unhackable
source.

Do you have a scrypt/program I could see?

I have a feeling I am behind in the maths to understand it though.. I started following this one uni proof's youtube on encryption but only like 3 hours in so far...

[daddybios]

I am looking to dump my bitcoins to safe place to btc paper wallet. I want to know that is this safe to use paper wallet for storing my btc fund.
Post your valuable suggestions.

1. Generate a new address on bitaddress.org and print it.
2. Transfer Bitcoins to this new address.
3. Store the paper in a safe place.

ps: Do you think that Bitcoin will become more expensive?
Or do you want to save a trifle just in case?

[jonald_fyookball]

If you want to be very safe,
get a dedicated machine (old cheap laptop will do),
PERMANENTLY disable the internet (delete the wifi drivers),
and then use that machine to generate your addresses
and keys using physically generated entropy (physical dice or coins).

Attach a printer to it that has no access to the net and
never will be used for anything else.

and keys using physically generated entropy (physical dice or coins).

Can you explain this to me please?

In simple terms,  a private key is essentially just a 256 bit number.
So you can for example, flip a coin 256 times, and you'll get
a binary string "001110100101010001011100010  etc"
You would then convert that probably to WIF format, etc, and
input that into a program or script to get your address.

If you have a 16 sided die, you can roll it 64 times and
get a 256 bit number.

The point is, you're generating the raw entropy from an unhackable
source.

Do you have a scrypt/program I could see?

I have a feeling I am behind in the maths to understand it though.. I started following this one uni proof's youtube on encryption but only like 3 hours in so far...

It's not exactly trivial...you might need the help of a programmer
to set it up...take a look at this:

https://github.com/weex/addrgen/blob/master/addrgen.py

[spazzdla]

Sweet thanks, I know a couple guys that might be able to help me.

[LFC_Bitcoin]

I copy the bitaddress HTML to a CD.

RUn that CD on a harddrive that has never touched the web.

Create a "paper" wallet and encrypt it with a lengthy pass.

Print it to a PDF or TIF.

Burn the wallet to a CD.

Move the PDF to multiple USB's and CD's, physically print it.

DESTROY the harddrive I created it on.




You could also just the BTC core and create a wallet.dat file, encrypt it, but I do like the bitaddress.org setup for creating my offline wallets.



Create a few different wallets on that harddrive so I can store the BTC on several different wallets that have different passcodes.
Mainly so when I spend them I don't have to empty my entire stash and create a new wallet.



Sorry if I am coming off as a douche I just want everyone to be as secure as possible.  All for one, one for all.

[/b]

Yeah of course, I wouldn't like to see anybody lose any of their bitcoins because of some ass hole hackers.
I've seen some horror stories, one Chinese guy had 700 bitcoin stolen from a blockchain.info wallet because he didn't use 2FA.
Must have been heartbreaking when he signed in to see a 0 BTC balance.

[MNDan]

My method for offline storage on paper:

Creating and loading the wallet -

1) Save to your hard drive the bitaddress.org URL for generating BIP-38 encrypted paper wallets.
2) Create a LINUX LiveCD for booting from a flash drive for a fresh, offline OS.
3) Disconnect computer from the internet, boot into LiveCD, and generate an encrypted paper wallet via the bitaddress.ord URL (running standalone). DON'T LOSE YOUR PASSWORD!
4) Save the wallet off as a PDF and also print multiple copies. Since it's encrypted, you can have a few copies and keep them multiple places and the PDF will also be available if the paper fades or is destroyed.
5) Reboot regular OS and head out to the exchange.
7) Send your bitcoin to the public key of your paper wallet, starting with a small amount and confirming it got there via blockchain.info.

Getting bitcoin back out of the wallet -

1) Using the block chain website or app on an android tablet, scan the encrypted private key of the paper wallet (I could also use the bitaddress.org code offline to decrypt it manually).
2) The app/site will ask for the key you used to BIP-38 encrypt the private key - type in the password used to encrypt it and the wallet's bitcoin will be accessable to send/spend.
3) Sweep the wallet into your blockchain online wallet. (Important since you must spend all coin in a paper wallet at once or risk losing the "change".)
4) Send any bitcoin that you don't want to keep in a hot wallet into a new paper wallet, created in the same way you created the first one. You can create multiple paper wallets at once above, so you can create a bunch at once and just move your change to the next paper wallet in the list.

[funkenstein]

First install some good antivirus on your computer and scan it well. 

I lolled again!  If you are installing "some good antivirus" you have been fooled.  End of story. 

One does not clean a shirt by getting some dirt from anonymous parties and rubbing it in real well.