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Author Topic: May want to move your funds from MtGox this week  (Read 3373 times)
ehoffman
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March 20, 2013, 09:51:50 AM
 #21

I guess it's good for BTC you want to keep away.  But not useful for doing every day transactions.  So, I guess one could keep a large amount offline, and keep a few BTC in a "hot" wallet (online).

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March 20, 2013, 01:48:02 PM
 #22

I guess it's good for BTC you want to keep away.  But not useful for doing every day transactions.  So, I guess one could keep a large amount offline, and keep a few BTC in a "hot" wallet (online).
Armory is good for an offline savings wallet, and blockchain.info is good for a convenient spending wallet.
Matthew N. Wright
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March 20, 2013, 01:52:46 PM
 #23

The biggest weakness is a full blown raid of their office.

Or legal complications involving their new US presence or other draconian threats that would lead to accounts being limited or frozen. I'm not much of a conspiracy theorist, but there is plenty of evidence on these forums of "special" cases where people have found their funds suddenly unavailable, especially at the Paypal of Bitcoin, MtGox. The excuse for which is irrelevant imo, but is usually under the blanket guise of "AML compliance". So you can't process a transfer to the bank? Fine, send the funds back to the owner then.

If you value your bitcoins, treat it like you would gold. Stop lending in USD, stop gambling it away, stop investing. Bitcoin *is* the investment vehicle so long as the price is so volatile (it will settle one day, and then investment again might make sense) and unless I'm mistaken, there are no insured exchanges nor exchanges that are willing to go to jail to keep their customers happy in any situation.

Zangelbert Bingledack
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March 20, 2013, 02:33:10 PM
 #24

Get a public key/private key...tattoo it to your penis.

Walk into MtGox HQ, whip it out and thrust forward while announcing, "IM ALL IN!!!"
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March 20, 2013, 02:36:42 PM
 #25

Get a public key/private key...tattoo it to your penis.

Walk into MtGox HQ, whip it out and thrust forward while announcing, "IM ALL IN!!!"
I wish I could fit a whole private key.  Embarrassed

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March 20, 2013, 02:51:43 PM
 #26

Get a public key/private key...tattoo it to your penis.

Walk into MtGox HQ, whip it out and thrust forward while announcing, "IM ALL IN!!!"
I wish I could fit a whole private key.  Embarrassed


mini-key?
mufa23
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March 20, 2013, 02:52:19 PM
 #27

Get a public key/private key...tattoo it to your penis.

Walk into MtGox HQ, whip it out and thrust forward while announcing, "IM ALL IN!!!"
I wish I could fit a whole private key.  Embarrassed
Bummer dude...

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ehoffman
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March 20, 2013, 03:13:29 PM
 #28

Get a public key/private key...tattoo it to your penis.

Find a nice lady and ask her if she want you to store your key in a private place...  Or ask her if she accepts deposits Tongue

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Herodes
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March 20, 2013, 03:54:59 PM
 #29

Just want to remind everybody about this:

https://en.bitcoin.it/wiki/Paper_wallet
Zangelbert Bingledack
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March 20, 2013, 03:56:27 PM
 #30

Get a public key/private key...tattoo it to your penis.

Find a nice lady and ask her if she want you to store your key in a private place...  Or ask her if she accepts deposits Tongue

Reminded me of http://www.youtube.com/watch?v=N9L7UUp0FxY
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March 20, 2013, 03:59:49 PM
 #31

Normally I'd be against alarmist posts, but since there isn't much reason to have MtGox holding your private wallet contents in the first place, this post just rings of common sense and nothing else. Bitcoins should always be under your own control until you're ready to spend them.

This. I personally use a 4-tier system:
Amount of bitcoins stored increases from left to right.

MT.Gox/Centralized exchange < Blockchain.info < Hot wallet using Bitcoin-QT < Paper Wallet from Offline Armory

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