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Author Topic: Long Term Digital Storage - BTC & Alt Coins - Future Access for non-tech pers  (Read 426 times)
adamsworks
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February 15, 2017, 07:00:38 PM
 #1

I am looking for solutions for longer term digital/physical storage for my BTC,  and alt-coins of assorted types.  I have been holding onto my coins and watching them steadily increase in value,  and I plan on keeping them longer term well into the future.  Some of the richest BTC investors today are people who bought coins in 2010/2009 and just forgot all about them until 2013 or now.

They are a great investment so far,  and although I have bought and sold in the past as an early adopter of ASIC mining in 2013,  I haven't moved/mined any since 2015....  and I first owned BTC at about $60.00 a coin.

One additional issue is that I want my coins to be accessible in case something happens to me,  to allow access to them by the caretakers of what is left of my estate.  I am considering holding in a safety deposit box at a bank.

The challenge with any storage medium is leaving instructions in how to deal with them to less technically capable persons,  particularly those who don't necessarily understand bitcoin/alternate coins,  and/or the value.  Easy access is important.

For BTC I was considering a Trezor,  although I am open to other mediums.

For Dash/LiteCoin/Doge/Cloak/a bunch of other alt coins of varying value - I am open to any suggestions.

One issue that I want to ensure that doesn't happen is the MultiBit HD unconfirmed bug,  which I just got over with.  It was ass-pain,  and while a simple solution,  might be beyond the capabilities of others who might have to handle the coins.

Thank-you

Ryan
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Coin-Keeper
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February 15, 2017, 07:29:08 PM
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Many (somewhat early adopters) have your concerns.  I submit that a hardware wallet as you mentioned was being considered, is a super choice.  You can always backup the seed and any passwords, PIN, etc....   but in reality a non-techie only needs to know the PIN and any passwords and they are good to go!  Plus the added bonus is that if a newbie uses the Trezor you mentioned on an infected computer your coins still cannot be stolen by that malware.  If your non-techie heir spends just about 15 minutes reading about how to use a Trezor the coins will be safe.  I could easily teach a 12 year old how to safely spend coins on a hardware wallet.  Yet, nobody has ever knowingly broken into a hardware wallet using malware.

BTC: 1PYSBbuKM3kW19xe9TXJQfq64rPhd8XorF
Staked and Verified: https://bitcointalk.org/index.php?topic=996318.msg17102755#msg17102755
adamsworks
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February 16, 2017, 01:02:32 AM
 #3

Due to the rise in Dash,  I might be justified in getting one for an alt coin or two if they become available. 

I was considering a Raspberry Pi,  but I don't know if I trust my coins on a SD Card......  although I could do Wallet backups and keep a second stick in the box.

Paper copies of the wallet words is also important.

Trezor is accepting orders,  but I think I will wait a little before ordering.  While I have no reason whatsoever to think that the company selling Trezor a similar company to Butterfly Labs,  pre-orders in the BTC world still have abit of a reputation to get over!

Thanks for weighing in,  Coin-Keeper

Ryan
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February 17, 2017, 10:50:45 PM
 #4

With Bitcoin Core, use the HD=0 (in bitcoin.conf) and display the private key (dump in console) ... and burn it with dremel on alloy tab.

Simple.

Private key is the stone of the BTC network after all.
but not the wallet.dat or the hardwares wallets ...
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