Cold wallets

[Mustello LLC]

How many of you guys actually have a cold wallet sitting around? It seems to me that the majority carry the local "hot" wallet and thats it.

[sudukibiras]

What is a cold wallet?

[RaTTuS]

What is a cold wallet?

one that is not on a live machine or connected to the internet etc

[fronti]

how did it work when I have a cold wallet and I send some btc to this.
after 5 years, i need the money from this cold wallet to buy a car.
So, i start a client, and wait until the sync is done.

But i heard about a 100 transaction limit. is this also the case when only sending money to such a wallet?

[Mustello LLC]

how did it work when I have a cold wallet and I send some btc to this.
after 5 years, i need the money from this cold wallet to buy a car.
So, i start a client, and wait until the sync is done.

But i heard about a 100 transaction limit. is this also the case when only sending money to such a wallet?

The bitcoins will still go to the address you sent it on and will appear when you make the wallet online again.

100 transactions limit is referring to the wallet.dat. Its recommended to create a new wallet.dat every 100 transactions as a backup.

[PeteChad]

I like to have an active hot wallet with a set amount of BTC that I plan to move during a given week. I also keep secured cold storage wallets for some of my clients who invest BTC with me. I feel cold storage is a much more secure option, especially if you have the proper environment (safe, camera monitoring, etc.),

[Garr255]

I have the same setup as gweedo. You definitely want to set up a cold wallet of some sort when you get more than 100 coins. I never have more than ~20 coins in my hot wallet, and ~20 on my phone (never actually made a mobile bitcoin transaction but I might as well be prepared ).

[kwoody]

I setup a new client(completely new wallet.dat / new private keys) in a virtual machine, transferred roughly 90% of my coins to it, encrypted it, then put that new wallet.dat on 4 different thumb drives.. one in my car, one at a friend's house, etc. Cold storage is the only way to go; it's becoming increasingly easy to plant a keylogger on somebody's system, and thereby obtain the passphrase used to encrypt a hot wallet. I will never keep more than 100 BTC in a hot wallet, and even that's pushing it.