Cold storage doesn't solve all your problems

[maefo]

Hi,

Sorry if I'm totally wrong about this, but hey, I'm a noob.

I was reading this thread

https://bitcointalk.org/index.php?topic=356867

where someone got ripped off from an online account (coinlenders) and asks about setting up cold storage.  If I understand correctly, cold storage would not have helped this person, since their coins were on the coinlenders web site, not in a cold storage protected address.

Am I right?  Should someone point this out to them?  I think I can't.  Still a noob.

[huadylmate]

Your right, if you send your Bitcoins to anybody else (coinlenders) you have no control about your Bitcoins anymore so you can be scammed

[eternaluniverse]

Hi,

Sorry if I'm totally wrong about this, but hey, I'm a noob.

I was reading this thread

https://bitcointalk.org/index.php?topic=356867

where someone got ripped off from an online account (coinlenders) and asks about setting up cold storage.  If I understand correctly, cold storage would not have helped this person, since their coins were on the coinlenders web site, not in a cold storage protected address.

Am I right?  Should someone point this out to them?  I think I can't.  Still a noob.

That is true but that is not to say cold storage is not safe, it is to say if you put your money in a online website you are not safe. There ARE in fact ways to stay safe. When deaing with bitcoin transactions use a fresh install of linux so you wont have any keyloggers, kept ur coldstorage on a usb that runs linux off the key itself, and have multiple copies of that key. Also, DO NOT leave money unattended in these online websites or in any hot wallets (your phone).

[RodeoX]

Create a new wallet and address. Take the wallet offline and put it in your safe deposit box. Now advertise the public address and begin receiving funds.
How is anyone going to steal your coins now? It would take a bank robber, not a blackhat hacker. Cold storage is safe.

[PenAndPaper]

The guy got burned from having his money stored online and from now on he wants to keep his money in cold storage for that not to happen again.
Cold storage and what happened to the guy are two different things.