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Zeena
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June 29, 2011, 06:36:26 AM
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I am the greenest of novices, I cannot understand 1/10 of what I read on this forum, I don't type well or quickly. I understand economics, finanace, and some geopolitical realities. I don't wish to rip off the gov or anyone else. I only wish to promote and join Bitcoin which appears to be an idea whose time has come. This is the greatest answer I've ever seen to the abuses of the global banking cartel.

However, I cannot learn a whole new language and philosophy just to begin a small account. In the forum I read Vladimir's 14 steps to securing your money and my eyes fairly bulged from my head. I approve of some security and I am a bit paranoid, but if those proceedures are necessary, I have no place here. Can anyone help with a simpler approach? Thanks.
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June 29, 2011, 06:37:12 AM
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I have a paper wallet you can buy for $5.  It allows you to hold bitcoins without any risk of them getting hacked, if that's what you're looking to do.  See my signature line below, visit http://www.casascius.com.

I created this as a solution to all the recent hackings and theft.  Hackers are stealing bitcoins by breaking into computers and making a copy of people's wallet file.  Bitcoins can only be spent once, so if they get your wallet file and spend it first, your copy becomes worthless.  But if your wallet file is strictly on paper, they can't get it.  

The paper wallet has nine Bitcoin addresses.  When you receive the paper wallet in the mail, these addresses are yours.  You can have someone send you Bitcoins to any of those addresses, no computer is required.  When they send coins to these addresses, the coins are still "out there in limbo", but inaccessible to everyone.  They will stay that way safely forever until redeemed by you.  

A redemption code (also known as a "private key") printed on the page allows you to spend them later, and as long as you keep it secret, your coins can't be stolen.

The private key and the address are mathematically related in a way the Bitcoin network recognizes.  When you re-import the key into a website or the Bitcoin software (when supported in the future), you're able to spend the coins.

If you're wondering where they are in the meantime, the coins are located on what's called the public "block chain" until you redeem and spend them.  The website http://www.blockexplorer.com is a public tool for examining the block chain, and you can see the balance of each of your nine addresses just by doing a simple search there.

I can help redeem your coins to another address with a private key (to others reading this post, please never e-mail me a private key without encryption, or at least contacting me first and letting me know ahead of time).  If you have either bought my paper wallet, or can give me a good rating on #bitcoin-otc, this is a free service.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
Zeena
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June 29, 2011, 06:54:04 AM
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Thanks Casis, I bookmarked you for reference when I understand more and get going. At the scale I will begin with, I on't require security.
magots
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June 29, 2011, 09:40:31 AM
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In the forum I read Vladimir's 14 steps to securing your money and my eyes fairly bulged from my head.

I have the same feeling...
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