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Author Topic: Newbie qestion about wallets  (Read 1051 times)
bieberluvr (OP)
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November 27, 2015, 06:11:41 AM
 #1

Is blockchain.info secure enough to store long term?  Id like a link on how to create a paper wallet...
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November 27, 2015, 06:17:11 AM
 #2

blockchain is secure enough for you, just enable 2 factor authentication, and if you want more secure wallet to store your btc you must try paper wallet or any hardware wallet
you can take a look on this site : https://bitcoinpaperwallet.com/

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November 27, 2015, 06:28:40 AM
 #3

I do not think blockchain is reliable, I think using BitcoinQT or a paper wallet is a better option.
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November 27, 2015, 06:30:21 AM
 #4

Blockchain.info for long term? For real? o.o Better off generating a paper wallet offline on bitaddress.org rather than trust an online wallet service provider for keeping funds in a long time. As for using their paper wallet, I'm not keen on how to generate one on blockchain.info  as I use bitaddress.org more  often.
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November 27, 2015, 06:32:24 AM
 #5

Blockchain.info for a wallet with less than 1 BTC is okay. If you have more than 1 BTC, dont put all your Bitcoin into one place (especially Blockchain which is web based wallet). I would suggest you MultiBit for computer and Mycelium for Android. This is the two wallets I am using and have no problem with them before.

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November 27, 2015, 06:54:34 AM
 #6

i do not think blockchain is a good solution for long term, i think armory is good
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November 27, 2015, 06:58:22 AM
 #7

use a another web wallet or an app wallet.
blockchain is too wide open and they have had ddos attacks over a wide span. it is only good to send multiple transactions at one time, thats why it is bombarded and they are seen as ddos attacks.




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November 27, 2015, 06:59:05 AM
 #8

Here's a list of other bitcoin wallets you can consider, depending on your needs and preferences.

Link: https://bitcoin.org/en/choose-your-wallet
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November 27, 2015, 07:24:05 AM
 #9

Is blockchain.info secure enough to store long term?  Id like a link on how to create a paper wallet...
No. No online wallet should be good for long term storage. Whereas, in the short term, with small amount, blockchain.info passes marginally due to their frequent downtimes and vulnerabilities. 2FA won't secure you from server side attack or if it's bugged.

I recommend bitaddress.org for address generation. They use browser RNG and mouse movement for added entropy which is random enough. Download it offline and print it using a printer. To be extra safe, try to unplug it for several minutes after printing to clear cache. To spend, use mycelium wallet cold storage function.

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November 27, 2015, 07:33:09 AM
 #10

Blockchain.info wallet was dropped from the Bitcoin.org's list of official wallets because of their unreliability and buggy behavior in the last few months. So this pretty much answers your question should you use it.

Stay away from online wallets altogether. Hardware and paper wallets for long-term, Electrum, Multibit and Mycellium for daily spending!
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November 27, 2015, 07:35:41 AM
 #11

id only use for a need to basics and not use as a main wallet given the fact of many people having past and present problems. If you want a light and effective wallet that works on many platforms use bither https://bitcointalk.org/index.php?topic=606238.0 Been using since I got fed up with Bitcoin qt crashes and massive amounts of data being downloaded moved to a lite and very effective wallet.

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November 27, 2015, 07:45:37 AM
 #12

I would only use blockchain.info web wallet as a spending, not for storing long-term. Best and easy solution for long-term is probably to create a paper wallet as others have suggested. Take a moment to learn, it will be worth it for you.

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November 27, 2015, 08:13:21 AM
 #13

Thanks guys, I appreciate your input
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November 27, 2015, 08:16:09 AM
 #14

A suggestion from me is that when you activate 2 factor authentication try to use Authy and not the google authenticator because once you loose your phone there is no backup, so with Authy you can use it in many devices and back up it.
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November 27, 2015, 08:19:05 AM
 #15

coinbase? Any opinions on that? Also I heard maybe electrum?   the guy above, https://bitcoinpaperwallet.com/ im gonna read up first, but looks cool...  Again, thanks guys, im learning alot from yall  Smiley
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November 27, 2015, 08:24:43 AM
 #16

question because im a moron...  what good would a 2fa do if blockchain or other service just up and ran?
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November 27, 2015, 08:26:05 AM
 #17

coinbase? Any opinions on that? Also I heard maybe electrum?   the guy above, https://bitcoinpaperwallet.com/ im gonna read up first, but looks cool...  Again, thanks guys, im learning alot from yall  Smiley
Coinbase is a good company, they have been around for quite sometime and I used to use them. However, they do not allow users to control their private key and is hence inconvenient if they ever get offline. Coinbase has an insurance policy too. However, read their TOS carefully, they prohibit users from associating their transactions with several kinds of activities.

Electrum uses HD feature which allow users to only backup seed and all keys will be generated from that seed. It is quite secure IMO and does have acceptable privacy as they send the change to a change address.

bitcoinpaperwallet.com uses the same technique as bitaddress.org. I would download the script offline and inspect it carefully for bugs or exploits. But that is if you don't trust them.
question because im a moron...  what good would a 2fa do if blockchain or other service just up and ran?
Nothing essentially. Blockchain.info uses 2FA as a security against hackers and only downloads the backup if it's correct. Most service use it against client side hacking. If they run, they would still need your encryption code if they have never inserted a script which capture user's password. For other shared wallet, if they run, nothing would protect you.

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bieberluvr (OP)
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November 27, 2015, 08:27:07 AM
 #18

im really just wanting to give a few btc to my nices & nephew.  where theyll be able to cash out 10yrs from now....
Amph
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November 27, 2015, 08:27:10 AM
 #19

question because im a moron...  what good would a 2fa do if blockchain or other service just up and ran?

nothing, and this si the reason why you should not trust someone else holding your money, never

besides that they hah some security holes in the past
elyas772
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November 27, 2015, 08:30:04 AM
 #20

Is blockchain.info secure enough to store long term?  Id like a link on how to create a paper wallet...

you can learning paper wallet at here
https://blockchain.info/wallet/paper-tutorial
use https://www.bitaddress.org/ "the highest trusted site" to create new paper wallet

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