Boosterious
Sr. Member
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Activity: 308
Merit: 250
The mind is everything. What you think you become.
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May 17, 2016, 06:07:58 AM |
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I've been wondering for a while about this. Why do people do it? I mean, if you use an online wallet, it way safer that having it stored on a file or paper which can be stolen at any time.  An online wallet has too much security for this. Like Two-Step Verification, or a pin code, etc.. Online or Offline wallet have same security,they have same method to secure bitcoin,and i think people use papper wallet or offline wallet because they want to store their bitcoin and have static amount,because in my experience if we store our bitcoin on online wallet,we can spent easily bitcoin from that wallet,its make me can't safe any bitcoin,but with papper wallet i can't do that. |
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Even in the event that an attacker gains more than 50% of the network's
computational power, only transactions sent by the attacker could be
reversed or double-spent. The network would not be destroyed.
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jak1
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May 17, 2016, 03:57:04 PM |
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Actually the online wallets are MUCH less safe. A hacker, for example, might gain control of the server and trick you into sending your private key / pass phrase or, if the private keys are stored on a server they could just take them.
Local solutions, preferably offline, are much more safe since the only way a hacker could get access is by breaking into your home. Given most of the hackers are in China, it's kind of unlikely they are going to buy a plane ticket, get a visa, fly to your country, try to find your paper wallet, etc....
By contrast, very likely thousands of them are attempting every minute to break into online wallet sites and hack them.
But if large agents such as Microsoft and Steam are actually allowing payments from bitcoin users; isn’t it safe to assume that the security of your bitcoin address has improved? Bitcoin is become a valuable commodity; therefore if more security measures need to be implemented, then I’m certain such action will be taken in due time if not immediately. |
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Mr.grin
Legendary
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Activity: 1218
Merit: 1000
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May 17, 2016, 04:10:23 PM |
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it may be because of their limited knowledge, just like me, I just save my bitcoin in the form of files and within a site. it's because that's all I know, if bitcoin can be brought and shaped hardware, of course I will keep very well
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katrimans
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May 17, 2016, 04:34:39 PM |
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Bitcoin on paper or file in your own home off of your computer is the most secure way to store bitcoin. You just need to protect the hardcopy - laminate, put in a safety deposit box at the bank, or whatever is the most secure for you.
Bitcoin stored at online wallets is risky as the wallet can have issues and nothing "online" is really secure and can be hacked.
If you do use online wallets ALWAYS enable 2FA (Two Factor Authorization).
Can someone explain to me how exactly do store my bitcoins on a piece of paper, or on a usb. I’ve protected my wallet with 2FA but if the security right now is still yet to be improved; I’d like to know how to do it. Besides, it seems like an interesting way to store my bitcoins for later use. |
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BitcoinSupremo
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May 17, 2016, 04:51:08 PM |
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Bitcoin on paper or file in your own home off of your computer is the most secure way to store bitcoin. You just need to protect the hardcopy - laminate, put in a safety deposit box at the bank, or whatever is the most secure for you.
Bitcoin stored at online wallets is risky as the wallet can have issues and nothing "online" is really secure and can be hacked.
If you do use online wallets ALWAYS enable 2FA (Two Factor Authorization).
Can someone explain to me how exactly do store my bitcoins on a piece of paper, or on a usb. I’ve protected my wallet with 2FA but if the security right now is still yet to be improved; I’d like to know how to do it. Besides, it seems like an interesting way to store my bitcoins for later use. You can download electrum wallet and then read its faq in here ( http://docs.electrum.org/en/latest/) on how to create a cold wallet out of it. Hope this helps, creating a paper wallet you can do so at bitaddress.org , personally I would for electrum and cold storage, although even as an online wallet it is pretty safe if you are using a safe pc and know what you are doing. |
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cryptoheadd
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May 18, 2016, 03:19:34 PM |
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Bitcoin on paper or file in your own home off of your computer is the most secure way to store bitcoin. You just need to protect the hardcopy - laminate, put in a safety deposit box at the bank, or whatever is the most secure for you.
Bitcoin stored at online wallets is risky as the wallet can have issues and nothing "online" is really secure and can be hacked.
If you do use online wallets ALWAYS enable 2FA (Two Factor Authorization).
Can someone explain to me how exactly do store my bitcoins on a piece of paper, or on a usb. I’ve protected my wallet with 2FA but if the security right now is still yet to be improved; I’d like to know how to do it. Besides, it seems like an interesting way to store my bitcoins for later use. You can download electrum wallet and then read its faq in here ( http://docs.electrum.org/en/latest/) on how to create a cold wallet out of it. Hope this helps, creating a paper wallet you can do so at bitaddress.org , personally I would for electrum and cold storage, although even as an online wallet it is pretty safe if you are using a safe pc and know what you are doing. One question on electrum wallet: Do we need to download the blockchain data? |
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LiteCoinGuy
Legendary
Offline
Activity: 1148
Merit: 1010
In Satoshi I Trust
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May 18, 2016, 03:27:22 PM |
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I've been wondering for a while about this. Why do people do it? I mean, if you use an online wallet, it way safer that having it stored on a file or paper which can be stolen at any time. An online wallet has too much security for this. Like Two-Step Verification, or a pin code, etc.. buy a hardware wallet: https://bitcointalk.org/index.php?topic=899253.0 |
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thejaytiesto
Legendary
Offline
Activity: 1358
Merit: 1014
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May 18, 2016, 04:03:05 PM |
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I've been wondering for a while about this. Why do people do it? I mean, if you use an online wallet, it way safer that having it stored on a file or paper which can be stolen at any time. An online wallet has too much security for this. Like Two-Step Verification, or a pin code, etc.. buy a hardware wallet: https://bitcointalk.org/index.php?topic=899253.0A hardware wallet can fail, just like memory USB sticks... I think saving your wallet.dat file inside an encrypted compressed file on several different places is the best way to go. If you only rely on some hardware wallet, you might regret doing that. I think its better to spread it across different hard drives, usb pendrives and whatnot. |
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