Why do people not put their Bitcoins in Cold Storage?

[probitcoiner]

Why do people not put their Bitcoins in Cold Storage? It's pretty sad when you hear people losing 5-10-20 Bitcoins because there online wallets got hacked. Please stop risking so much money to be stolen, if your new to Bitcoin or you don't know how to put your bitcoin(s) into cold storage I've put together 5 Steps To Place Bitcoins in Cold Storage.

[probitcoiner]

Does anyone have any thoughts on why people don't put them in cold storage?

[moriartypants]

It's a hassle.

Since smart phones got really big people are used to technology streamlining things and making everything work smoother.  THey expect technology to just work and require minimal intervention from themselves.

Cold storing your bitcoins may be smart but a lot of people just can't be bothered with the extra steps.  Also, to actually use the bitcoins you got to make them hot again so what's the point unless you're planning on spending them all in one go?

[bsmack]

Volatility.  If the majority of BTC you hold is in cold storage and the price starts plummeting it takes a considerable amount of time to get your BTC out of cold storage and onto an exchange.  Price in USD could be down another 20% by the time you actually move your coins.

[probitcoiner]

It's a hassle.

Since smart phones got really big people are used to technology streamlining things and making everything work smoother.  THey expect technology to just work and require minimal intervention from themselves.

Cold storing your bitcoins may be smart but a lot of people just can't be bothered with the extra steps.  Also, to actually use the bitcoins you got to make them hot again so what's the point unless you're planning on spending them all in one go?

I understand the hassle but if your going to invest a large amount of money into Bitcoin people need to make these steps. A couple weeks ago there was a story on /r/bitcoin of a guy that had 30+ bitcoins stolen from a hot wallet, I don't know about you but almost $30,000 seems worth the hassle.

[probitcoiner]

Volatility.  If the majority of BTC you hold is in cold storage and the price starts plummeting it takes a considerable amount of time to get your BTC out of cold storage and onto an exchange.  Price in USD could be down another 20% by the time you actually move your coins.

You have to ask yourself the question are you in for the short or long term. If your in for the short term best of luck I hope you make some money. If you choose long term put your bitcoins in cold storage, there is going to be crashes/bubbles just like there has been i think 8 now and if you keep selling at those lows your never going to win.

[guybrushthreepwood]

It's a hassle.

Since smart phones got really big people are used to technology streamlining things and making everything work smoother.  THey expect technology to just work and require minimal intervention from themselves.

Cold storing your bitcoins may be smart but a lot of people just can't be bothered with the extra steps.  Also, to actually use the bitcoins you got to make them hot again so what's the point unless you're planning on spending them all in one go?

I understand the hassle but if your going to invest a large amount of money into Bitcoin people need to make these steps. A couple weeks ago there was a story on /r/bitcoin of a guy that had 30+ bitcoins stolen from a hot wallet, I don't know about you but almost $30,000 seems worth the hassle.

 f their computer is infected with trojans or keyloggers they can get your money off a paper wallet before you even send it or when you try retreave it.

[probitcoiner]

It's a hassle.

Since smart phones got really big people are used to technology streamlining things and making everything work smoother.  THey expect technology to just work and require minimal intervention from themselves.

Cold storing your bitcoins may be smart but a lot of people just can't be bothered with the extra steps.  Also, to actually use the bitcoins you got to make them hot again so what's the point unless you're planning on spending them all in one go?

I understand the hassle but if your going to invest a large amount of money into Bitcoin people need to make these steps. A couple weeks ago there was a story on /r/bitcoin of a guy that had 30+ bitcoins stolen from a hot wallet, I don't know about you but almost $30,000 seems worth the hassle.

 f their computer is infected with trojans or keyloggers they can get your money off a paper wallet before you even send it or when you try retreave it.

This is why its best to use a computer that has never been online before.

[hilariousandco]

It's a hassle.

Since smart phones got really big people are used to technology streamlining things and making everything work smoother.  THey expect technology to just work and require minimal intervention from themselves.

Cold storing your bitcoins may be smart but a lot of people just can't be bothered with the extra steps.  Also, to actually use the bitcoins you got to make them hot again so what's the point unless you're planning on spending them all in one go?

I understand the hassle but if your going to invest a large amount of money into Bitcoin people need to make these steps. A couple weeks ago there was a story on /r/bitcoin of a guy that had 30+ bitcoins stolen from a hot wallet, I don't know about you but almost $30,000 seems worth the hassle.

 f their computer is infected with trojans or keyloggers they can get your money off a paper wallet before you even send it or when you try retreave it.

This is why its best to use a computer that has never been online before.

Or use a linux boot CD. Wallets are only as safe as you are. Blockchain.info is very also safe as long as you remain so and take advantage of all their security features.

[jimmyjimmy]

Cold storage wallets store private BTC keys offline but that's not something people wanna do.

[e521]

People don't print paper wallet because it's still "difficult" to do.
It's not practical if you only want to trade on big swings and ATH as it takes time to move
And then you have the problem of the paper (now partially resolved with card made of aluminium?): where do you store safely your paper wallets?

[masterbean]

I agree it seems like more people should use cold wallets. https://www.bitaddress.org
Here's the link for more information: https://bitcointalk.org/index.php?topic=43496.0

[probitcoiner]

It's a hassle.

Since smart phones got really big people are used to technology streamlining things and making everything work smoother.  THey expect technology to just work and require minimal intervention from themselves.

Cold storing your bitcoins may be smart but a lot of people just can't be bothered with the extra steps.  Also, to actually use the bitcoins you got to make them hot again so what's the point unless you're planning on spending them all in one go?

I understand the hassle but if your going to invest a large amount of money into Bitcoin people need to make these steps. A couple weeks ago there was a story on /r/bitcoin of a guy that had 30+ bitcoins stolen from a hot wallet, I don't know about you but almost $30,000 seems worth the hassle.

 f their computer is infected with trojans or keyloggers they can get your money off a paper wallet before you even send it or when you try retreave it.

This is why its best to use a computer that has never been online before.

Or use a linux boot CD. Wallets are only as safe as you are. Blockchain.info is very also safe as long as you remain so and take advantage of all their security features.

Yeah this is what we suggest you use in our 5 step guide that is linked in the original post

[energeez]

it's something very unusual to put your btc in cold strorage but its so more safe

[Candice_lindawin]

I agree it 

[WillemStelen]

Why do people not put their Bitcoins in Cold Storage? It's pretty sad when you hear people losing 5-10-20 Bitcoins because there online wallets got hacked. Please stop risking so much money to be stolen, if your new to Bitcoin or you don't know how to put your bitcoin(s) into cold storage I've put together 5 Steps To Place Bitcoins in Cold Storage.

it is not reasonable to use cold storage. if bitcoin's value starts dropping fast you will need a lot of time to pull out your btc from the cold storage and sell them. you will lose a lot of $ while doing that and probably  you will get much lower price...

[boathouse1]

what does cold storage even mean?

[probitcoiner]

what does cold storage even mean?

“Cold storage” refers to keeping your bitcoins out of reach of the internet(hackers) and computers that could become potentially infected with malware or viruses.

[fahayek]

Hassle and volatility.

[anyone4u]

cold storage = on a flash disk stored in a safe