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Author Topic: Best current cold storage method  (Read 4403 times)
wadili89
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November 03, 2015, 01:39:17 PM
 #41

Copy your encrypted wallet.dat onto multiple USB sticks, and put them in safes, and leave one off-site with a trusted family member - Do not share your password with anyone.

i will really not trust on a usb on multiple usbs if your usb fell from your hand to the ground there are many chances its not gonna work or they got corrupted and a usb can anytime as to remove all data to open the folder i have faced many shits with flash drives

for me its paper wallet i find it more secure and again its depend how much you gonna store in there

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Bitcoininspace
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November 03, 2015, 01:48:14 PM
 #42

I'm still perfectly content with paper. I wouldn't trust flash memory or my brain.

But flash memory and brain is fire resistant (if you dont put it near fire)

Paper can easily burn if you have a house fire.

There are many electric items in my house that can catch fire anytime, I dont want it to burn down my private key.
Indeed, fires aren't that rare these days.

Also the one who suggested memorizing your whole private key and address, come on. That's even worse, who knows what could happen in 2-10 years. You could hit your head, get a concussion, get blackout drunk, get a disease, whatever that could make you forget your address and key.

                                     
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November 03, 2015, 05:24:44 PM
 #43

I'm still perfectly content with paper. I wouldn't trust flash memory or my brain.

But flash memory and brain is fire resistant (if you dont put it near fire)

Paper can easily burn if you have a house fire.

There are many electric items in my house that can catch fire anytime, I dont want it to burn down my private key.
Indeed, fires aren't that rare these days.

Also the one who suggested memorizing your whole private key and address, come on. That's even worse, who knows what could happen in 2-10 years. You could hit your head, get a concussion, get blackout drunk, get a disease, whatever that could make you forget your address and key.

I dont know but isnt STORJ a good place to store your private key?

You can double encrypt it, and then upload it there, and it will be encrypted again. Triple encryption is impossible to break.

And then for safety reasons you can change your address and send the money to new funds every 2-3 years.

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November 03, 2015, 05:43:25 PM
 #44

So I made  my first purchase on Coinbase and it limited me to $500.  I verified my ID and my credit card.  Is there any other way to get more BTC sooner?  I dont want to wait the 3 days or whatever it is.
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November 03, 2015, 05:47:53 PM
 #45

So I made  my first purchase on Coinbase and it limited me to $500.  I verified my ID and my credit card.  Is there any other way to get more BTC sooner?  I dont want to wait the 3 days or whatever it is.

You could also open an account at Circle.com.

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November 03, 2015, 05:51:06 PM
 #46

I made a fairly basic brain wallet a couple of months ago and the BTC is still there.

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November 03, 2015, 06:11:51 PM
 #47

So I made  my first purchase on Coinbase and it limited me to $500.  I verified my ID and my credit card.  Is there any other way to get more BTC sooner?  I dont want to wait the 3 days or whatever it is.

You could also open an account at Circle.com.

Thanks, just did that.  Are Circle and coinbase pretty much the two to stick with?
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November 03, 2015, 06:13:17 PM
 #48

I have read around some and cant find much that isnt a few years old.

Im new to BTC and was going to keep a few hundred $ worth on blockchain.info to spend and then invest in a few thousand $ in an offline manner.  Is a paper wallet the best bet?  I am not very tech savvy.  Also where is the best exchange to buy from?  Thanks in advance.

hard to say "best".

use a hardware wallet for a part of your coins:

https://bitcointalk.org/index.php?topic=899253.0

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November 03, 2015, 06:16:18 PM
 #49

hardcode private key into an ingest-able micro computer and fuse with main brain frame, just turn your wifi off to make offline

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November 03, 2015, 06:21:20 PM
 #50

So I made  my first purchase on Coinbase and it limited me to $500.  I verified my ID and my credit card.  Is there any other way to get more BTC sooner?  I dont want to wait the 3 days or whatever it is.

You could also open an account at Circle.com.

Thanks, just did that.  Are Circle and coinbase pretty much the two to stick with?

You could also check out Gemini and Coinsetter.

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November 03, 2015, 07:13:39 PM
 #51

Use an "M-DISC"
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November 03, 2015, 10:37:37 PM
 #52

Copy your encrypted wallet.dat onto multiple USB sticks, and put them in safes, and leave one off-site with a trusted family member - Do not share your password with anyone.

@OP

Hard to disagree with the advice quoted above ^^

Personally I use a number of ways to store my bitcoins, I don't like to leave anything to chance & if something fucks up I don't want to lose my entire stash.

Do some research on a Trezor (a must have imo).

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November 03, 2015, 10:44:20 PM
 #53

I would write down my private keys and put it into a safety deposit box in some obscure small town bank.
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November 03, 2015, 11:06:43 PM
 #54

I have read around some and cant find much that isnt a few years old.

Im new to BTC and was going to keep a few hundred $ worth on blockchain.info to spend and then invest in a few thousand $ in an offline manner.  Is a paper wallet the best bet?  I am not very tech savvy.  Also where is the best exchange to buy from?  Thanks in advance.

hard to say "best".

use a hardware wallet for a part of your coins:

https://bitcointalk.org/index.php?topic=899253.0


That is what I have done.  The hardware wallets I use (Ledger Nano and Trezor) are not that hard to figure out.  LiteCoinGuy has a fantastic thread there which examines many options available now, from cheap to expensive.

And more hardware wallets are coming.
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November 03, 2015, 11:44:25 PM
 #55

So I made  my first purchase on Coinbase and it limited me to $500.  I verified my ID and my credit card.  Is there any other way to get more BTC sooner?  I dont want to wait the 3 days or whatever it is.

You could also open an account at Circle.com.
What is this service and how I can be sure that my coins are safe with them? I thought that any online wallet or deposit is generally considered not viable method of keeping your coins.
As service, site or deposit can be hacked, and probably will at some point.

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November 04, 2015, 02:42:30 AM
 #56


What is this service and how I can be sure that my coins are safe with them? I thought that any online wallet or deposit is generally considered not viable method of keeping your coins.
As service, site or deposit can be hacked, and probably will at some point.

I don't think Circle offer a dedicated storage service like the Xapo vault and Coinbase's similar service. I know that both of them are insured for hacks at their end, I assume Circle is the same. There's still no way I'd keep decent amounts anywhere like that. I think Circle introduced limits on how much you could withdraw recently. They're moving more towards a USD layer on top of Bitcoin.

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November 04, 2015, 02:50:52 AM
 #57

I don't think Circle has a place in this thread, to be honest.
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November 04, 2015, 03:27:51 AM
 #58

Is there a good link to read more on multi-sig? Trying to educate myself as much as possible.

http://docs.electrum.org/en/latest/multisig.html

&

http://blog.coinkite.com/post/102291566521

is  a good start.

I recommend and use a Hardware wallet, Trezor, Keepkey or Ledger.

Thanks omahapoker. Appreciate the insight.

<<<A blind beaver can still find a log>>>
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November 04, 2015, 03:44:45 AM
 #59

So I made  my first purchase on Coinbase and it limited me to $500.  I verified my ID and my credit card.  Is there any other way to get more BTC sooner?  I dont want to wait the 3 days or whatever it is.

You could also open an account at Circle.com.

Thanks, just did that.  Are Circle and coinbase pretty much the two to stick with?

You could also check out Gemini and Coinsetter.

I just shut down my Gemini account. I hope they can get it figured out but in the starting period I'm going to sit it out instead. Got an email from them talking about security issues and having to ramp up a lot of their security measures. Not something they should have shared directly with a customer. They also did not stick to their advertised time frames (deposit, verify, etc.). I'm sure they'll work out the kinks and I'll be back but like I said earlier, going to wait it out.

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November 04, 2015, 08:39:28 AM
 #60

in the future i know i would use instead of an usb or something else, a ssd with m.2 technology, or an evolution of it, they last longer and have better speed, while remaining very easy to connect
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