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Author Topic: Safest place to store coins? please help a noob  (Read 1167 times)
chip1
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March 23, 2013, 03:08:50 AM
 #1

paper wallet seems to much out of my league (idk what it even is lol)

im thinking blockchain wallet?

please help!
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March 23, 2013, 05:28:05 AM
 #2

You know, there is a Stickied thread on this already... https://bitcointalk.org/index.php?topic=17240.0

That's a bit deep though; I'd say load a simple wallet off bitcoin.org onto an unused computer (like an old netbook or retired PC) that you DO NOT even connect to the internet excepting for just bitcoin transactions.

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March 23, 2013, 06:32:00 AM
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Paper will last a hundred years. Check out the original declaration of independence.

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pumawolf
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March 23, 2013, 06:48:59 AM
 #4

what is a paper wallet exactly  , am i just  copyin  the  address  and private keys  somewhere other than the current cpu and  deleting  the address and private keys afterwards?
Fressac
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March 23, 2013, 07:20:29 AM
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what is a paper wallet exactly  , am i just  copyin  the  address  and private keys  somewhere other than the current cpu and  deleting  the address and private keys afterwards?

Blockchain.info has a good explanation along with instructions about how to generate one securely:
https://blockchain.info/wallet/paper-tutorial

Have fun!

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cosmicblue
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March 23, 2013, 08:16:11 AM
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You can create a brain wallet using electrum and store copies of the wallet in encrypted containers.

Big dom the donkey destroyer.
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March 23, 2013, 08:20:25 AM
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You can create a brain wallet using electrum and store copies of the wallet in encrypted containers.

Diversify your mediums! You can store the same key on paper/usb/and cd in case any of the others go out. Or just multiple usb drives. I keep mine in a safe with a backup copy in a friends safe at another location.  I trust him not to break the encryption :p
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March 23, 2013, 08:34:22 AM
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can i make a paper wallet without  a printer or   webcam?
gbh
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March 23, 2013, 10:35:34 AM
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can i make a paper wallet without  a printer or   webcam?

be definition you'll need a printer I'd say
chip1
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March 23, 2013, 11:42:27 AM
 #10

thanks for the responses.
zemario
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March 23, 2013, 11:57:15 AM
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your private key is just a sequence of chars and it is really all you need to securely save.

write it down on a piece of paper with a pen if you don't have a printer.
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March 23, 2013, 12:45:18 PM
 #12

My wallet isn't updating that frequently maybe 2-3 times a month.  Not that hard to say backup 10 times in different places each time its updated.

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chip1
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March 23, 2013, 05:36:19 PM
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paper wallets are to confusing is it safe to just store on blockchain?HuhHuh?
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March 23, 2013, 06:59:57 PM
 #14

Safest way is to store them yourself on your computer(s). Also as someone said above paper wallet is a good idea.
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March 23, 2013, 07:24:18 PM
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I save em on my pc...I use electrum can back it up on any computer as long as you keep your passphrase

http://i25.photobucket.com/albums/c68/patrikov/free-steveo.jpg
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March 23, 2013, 07:25:57 PM
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My wallet isn't updating that frequently maybe 2-3 times a month.  Not that hard to say backup 10 times in different places each time its updated.
WOW crazy, I get pissed off if it doesn't update every hour but then again all it takes is either restart your wallet or change a server, I use electrum wallet.

http://i25.photobucket.com/albums/c68/patrikov/free-steveo.jpg
chip1
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March 23, 2013, 07:36:33 PM
 #17

mtgox seems safe.......HuhHuh
zemario
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March 23, 2013, 07:37:21 PM
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paper wallets are to confusing is it safe to just store on blockchain?HuhHuh?
That's were they all already are. Your .dat files and whatnot contain the same info as the sequence of chars of your private key.
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April 03, 2013, 07:21:14 PM
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My wallet isn't updating that frequently maybe 2-3 times a month.  Not that hard to say backup 10 times in different places each time its updated.
WOW crazy, I get pissed off if it doesn't update every hour but then again all it takes is either restart your wallet or change a server, I use electrum wallet.

Lol I just mean I'm not accumulating that fast it takes me a week to get enough for a payout from the pool.

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April 04, 2013, 02:45:51 AM
 #20

Safest place is OFFLINE. Your options include, but are not limited to:

1. Paper = hand written or printed
2. Flash drives, USB drives, computers that are NOT connected to any network at all.

Variations of paper include, engravings on metal, plastic or wood, embroidery on cloth, oil on canvas (make a painting).

Online wallets are NOT safe. These include, all exchanges, MtGox, bitstamp, etc. all hosted wallets, instawallet, blockchain wallet, etc.

I think there are basically 3 levels of safety with bitcoins.

1. OFFLINE
2. Online but on your computer or mobile unit (bitcoin-qt, electrum, Bitcoin for Android, BitcoinSpinner)
3. Hosted or online in someone else's computer (exchanges, online wallets)

Why?
1. is practically impossible to hack. It is called COLD STORAGE for a reason.
2. depends on vigilance and security of your operating system, your computer, your phone, malware, virus, trojans, etc.
3. depends on the other computer. exchanges have been hacked, online wallets have gone offline or disappeared.

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