Practical Guide to Cold Storing your bitcoins

[ripper234]

http://assafshomer.blogspot.co.il/2013/07/bitcoin-cold-storage.html

Very detailed post, aimed to give newbies everything they need to cold store Bitcoins.

[steelboy]

Nice post. Thanks.

[CasinoBit]

I am curious, wouldn't generating the private key locally/offline, with a password that would take years to crack as a source of entropy be more secure?

[kjj]

Someone should patch the satoshi client to accept encrypted WIFs.  That would greatly simplify things by cutting out a bunch of steps.

[genjix]

https://bitcointalk.org/index.php?topic=259999

Code:

$ sx newkey | gpg -o privkey.enc -e -
$ gpg -d privkey.enc | sx addr

offline cold storage with encrypted private keys generated offline and encrypted using PGP.

combine this with multisignature for multiple offline storage keys that need to be signed to release funds in case one key gets compromised.

combine with deterministic wallet (sx newseed) and master public key (cat wallet.seed | sx mpk) for accepting payments straight to your multiple offline cold storage wallets.