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Author Topic: Best way to store and forget btc?  (Read 7179 times)
AndrewWilliams
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November 02, 2013, 06:00:27 PM
 #41

you all forget that it also has to be safe from the user's forgetfulness

it has to have some backup options too

dog's collar? what the hell are you thinking? And if it runs off or something? Same goes to other examples.




Then put it on 3 separate dog's collars.

The chance of all three dogs running away it once is 1 in a billion.

Plus, I like the fact that my dogs are not going to let you get the USB stick without a fight ... hehe. Smiley




If you really want to have some backup options, try putting it on the collar of a few cats. The odds of catching the cat would really make someone work for it, LOL!
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November 02, 2013, 06:18:34 PM
 #42

I would suggest a safety deposit box with either USB or paper wallet

And make sure to buy your coins on CoinMKT.com Smiley

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November 03, 2013, 12:34:26 AM
 #43

I recommend printing a paper wallet from blockchain.info or bitaddress and store your bought coin on your paper wallets.

Generally it's easier to keep a piece of paper secure than your computer. Cold storage is now the way to go with the growing number of security threats to computer systems.

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November 04, 2013, 06:34:59 PM
 #44

Paper wallets and backup wallet.dat on USB/CD a few times, just to be safe..

This, with copy in different location !
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November 04, 2013, 06:39:44 PM
 #45

I plan on investing 5-10k into btc and am wondering what would be the best way to store and forget about them?
1. Buy coins.
2. Send them to 1BitcoinEaterAddressDontSendf59kuE.
3. You can now forget about them.

LOL

to make sure everyone understand.. This adress have no known private key, then, every bitcoin send there will never be moved from there !  Destroyed !

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November 05, 2013, 08:42:18 AM
 #46

I plan on investing 5-10k into btc and am wondering what would be the best way to store and forget about them?
1. Buy coins.
2. Send them to 1BitcoinEaterAddressDontSendf59kuE.
3. You can now forget about them.

LOL

to make sure everyone understand.. This adress have no known private key, then, every bitcoin send there will never be moved from there !  Destroyed !


Never is a long time.
newflesh
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November 05, 2013, 09:26:33 AM
 #47

Might be a good idea to get the paper wallet laminated. I've had several important paper documents destroyed by mold (I live in a damp house)
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November 05, 2013, 09:47:30 AM
 #48

1) goto bitaddress.org
2) click "github Repository"
3) click "bitaddress.org.html"
4) copy the contents into a text file which you name "bitaddress.html"
5) copy that file onto a USB stick
6) get a linux "live CD" (like from http://www.knoppix.org/)
7) remove all internet connectivity from you computer
8) boot from the "live CD"
9) wait...
10) insert USB stick, open "bitaddress.html" in a browser
11) chose "single wallet" and click a couple of times
12) print the page, and copy the Bitcoin Adress (1....) into a textfile on the USB stick so you do not have to type it in all the time when sending from your computer.
13) remove CD, reconnect to web, reboot
14) done

You can now send coins to your paper wallet from your mobile phone by scanning the QR code.
To spend the coins, simply enter the private key (the one starting with 5) into any bitcoin wallet of your choice.



for extra fun, you can insert these here steps INSTEAD OF step 11).
you can do this parallel, or you might have done it beforehand.
my advise would be to generate bot parts of the password at different times on different machines.

1) goto strong password generator.com
2) chose "25" and check "Punktuation"
3) click "Generate Strong Password"
4) copy the phrase behind "Remember your Password as:" down, manually
5) repeat 2 - 4 write down the second passphrase seperately, laminate the paper, make copies, store seperately!
6) in bitaddress.html, chose "Brain Wallet"
7) enter both passphrases, seperated by a comma
8) take a picture of the QR-Code of the Bitcoin address Only  (right-click, show image) and write down the Bitcoin address manually
9) send coins into the addres

why this is extra fun?
you could engrave one passphrase into a piece of jewelery (eg a ring) or a piece of metal, then hide it in the wall of your house (plaster over it).

To recreate your wallet and spend the coins, simply use both passphrases again on the bitaddress.html and enter the private key (the one starting with 5) into any bitcoin wallet of your choice.
Tadaa!


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November 05, 2013, 02:56:06 PM
 #49

i store my wallet.dat in a cloud service and on local USB drives just to make sure. My password is in my head and on 2 different locations written on paper and stored.

i guess im pretty secure, also i never type in my password, i always use my screenkeyboard to dodge keylogging software

Barek
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November 05, 2013, 03:08:03 PM
 #50

For the paranoid, there is Armory.

https://bitcointalk.org/index.php?topic=56424.0


You get deterministic wallets.

Quote
Deterministic wallets with paper-backup print dialog
Not only are the wallets deterministic, but a built-in dialog exists for printing permanent copies of your wallet. When you first create your wallet, make sure your printer is on and click the “Paper Backup” checkbox.


You also get offline wallets.

http://bitcoinarmory.com/about/using-our-wallet/#offlinewallet


An interview with Alan Reiner, founder and CEO of Armory Technologies and lead developer on the open source Armory Wallet project, can be found at:

http://letstalkbitcoin.com/e55-happy-birthday-bitcoin/#.Unj_z-VX98E (around 16:00)
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November 05, 2013, 03:51:42 PM
 #51

For the paranoid, there is Armory.

https://bitcointalk.org/index.php?topic=56424.0


You get deterministic wallets.

Quote
Deterministic wallets with paper-backup print dialog
Not only are the wallets deterministic, but a built-in dialog exists for printing permanent copies of your wallet. When you first create your wallet, make sure your printer is on and click the “Paper Backup” checkbox.


You also get offline wallets.

http://bitcoinarmory.com/about/using-our-wallet/#offlinewallet


An interview with Alan Reiner, founder and CEO of Armory Technologies and lead developer on the open source Armory Wallet project, can be found at:

http://letstalkbitcoin.com/e55-happy-birthday-bitcoin/#.Unj_z-VX98E (around 16:00)

I am using the Armory Wallet and strongly recommend it!

Bitcointalk member since 2013! Smiley
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November 05, 2013, 04:31:25 PM
 #52

i store my wallet.dat in a cloud service and on local USB drives just to make sure. My password is in my head and on 2 different locations written on paper and stored.

i guess im pretty secure, also i never type in my password, i always use my screenkeyboard to dodge keylogging software

You do know that the latest keylogware also make screenshots? Not just registering the buttons you push on your keyboard?

Need BadAss Bulletproof VPS or Bulletproof VPN or why not just mail safe with Safe-Mail. We care about your privacy.
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November 06, 2013, 02:31:15 PM
 #53

I plan on investing 5-10k into btc and am wondering what would be the best way to store and forget about them?
1. Buy coins.
2. Send them to 1BitcoinEaterAddressDontSendf59kuE.
3. You can now forget about them.

LOL

to make sure everyone understand.. This adress have no known private key, then, every bitcoin send there will never be moved from there !  Destroyed !

Oh GOD!, Why oh Why does such an address exsist?! It's like a "kill bitcoin by doing this" address, or "increase the value of remaining coins by prooving you destroyed XYZ amount"
My gosh!, If the GOV learns about this address they could just start buying coins and then destroying them!!

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
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November 06, 2013, 02:40:01 PM
 #54

My scheme is as follows.  I have a couple of whole disk encrypted bootable USB keys with live installations of Windows 8 Enterprise.  Those USB sticks have offline Armory and, of course, all the private keys are password protected with very strong passwords.

In addition to that, I have paper backups of all my wallets, and those backups are in fire proof safes in 3 different locations. 

Sometimes I think back to early 2011 and how I stored my bitcoins just to freak me the fuck out.  There was a time when all of my bitcoins where on MtGox and I didn't even have 2FA.
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November 06, 2013, 03:52:43 PM
 #55

1. Buy coins.
2. Send them to 1BitcoinEaterAddressDontSendf59kuE.
3. You can now forget about them.
LOL
to make sure everyone understand.. This adress have no known private key, then, every bitcoin send there will never be moved from there !  Destroyed !
One idiot has sent 0.559 btc to that addr: https://blockchain.info/address/1BitcoinEaterAddressDontSendf59kuE

"Es ist kein Zeichen geistiger Gesundheit, gut angepasst an eine kranke Gesellschaft zu sein."
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November 06, 2013, 07:30:49 PM
 #56

Safest way to store bitcoins is to send it here:
 
                                        Scan   ↑


nice
but I think there was untold word that we also want to get back the BTC.... and I dont thionk your offer is two-way, it just one way street, to send bitcoins to you...

Hello world
BC12345
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November 06, 2013, 08:04:11 PM
 #57

Create three copies of your wallet.dat or your paper wallets.

Encrypt these copies with three different, strong passwords.

Store this copies at three different and safe locations (e.g. bank deposit boxes at different banks) each with the passwords for the other copies.

This way your bitcoins are safe if one of your copies gets compromised or stolen but you can still access them through the other two copies.
AndrewWilliams
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November 06, 2013, 08:41:50 PM
 #58

I have hidden three different encrypted copies aboard different trains. Hidden of course. Smiley





If I ever need to retrieve a USB key, I simply buy a ticket for a specific train/route.



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November 06, 2013, 10:02:12 PM
 #59

I have split my holdings into 2 mediums:

1) Paper wallets - laminated, triplicated & buried (This holds the least amount of bitcoins)
2) Encrypted Wallet.dat stored in an encrypted KeyPass file in a TrueCrypt volume and sent to Friends and Relatives using BitSync.  Plus an offline backup & USB sticks.

The passwords are split across two safe deposit boxes at 2 different banks plus inside in my head.

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November 07, 2013, 04:24:16 AM
 #60

I plan on investing 5-10k into btc and am wondering what would be the best way to store and forget about them?
1. Buy coins.
2. Send them to 1BitcoinEaterAddressDontSendf59kuE.
3. You can now forget about them.

LOL

to make sure everyone understand.. This adress have no known private key, then, every bitcoin send there will never be moved from there !  Destroyed !

Oh GOD!, Why oh Why does such an address exsist?! It's like a "kill bitcoin by doing this" address, or "increase the value of remaining coins by prooving you destroyed XYZ amount"
My gosh!, If the GOV learns about this address they could just start buying coins and then destroying them!!

Do send to  1BitcoinEaterAddressDontSendf60kuE.   I have the private keys for those.      Grin

The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion. – Albert Camus
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