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Author Topic: Can I sleep at night peacefully!?!!  (Read 1856 times)
RoboDawg
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February 26, 2014, 11:33:54 PM
 #1

Created a bootable OS.
Downloaded GitHub BitAddress.org
Went Offline
Generated Address & Private Key
Sent Bitcoin To Bitcoin Address
Put Public & Private Key on fresh USB and physical paper.

Will my Bitcoin be secure? Of course I could lose them by plugging in the USB and getting compromised but the USB is just a back up

I spread my Bitcoin across 4 paper wallets...
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JeffZwolle
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February 26, 2014, 11:42:41 PM
 #2

Do you also have offsite-storage in case of fire or any other disaster?

Donations are always welcome :-)
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BitSimple_Support
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February 26, 2014, 11:44:18 PM
 #3

Instead of spreading your coins across four wallets.  Why not make multiple copies of the same wallet?

RoboDawg
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February 26, 2014, 11:46:27 PM
 #4

I'll look into putting a copy of my private keys off-site incase of fire etc but are my Bitcoin considered cold storage

thx guys!
backtrackit
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February 26, 2014, 11:49:08 PM
 #5

I'll look into putting a copy of my private keys off-site incase of fire etc but are my Bitcoin considered cold storage

thx guys!

Yea that would be considered cold storage.

ivroer
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February 26, 2014, 11:52:00 PM
 #6

I'll look into putting a copy of my private keys off-site incase of fire etc but are my Bitcoin considered cold storage

thx guys!

You can use BIP38 (password encrypted private keys) for co-locating paper wallets, however the catch is: if you forget the password you can't decrypt the private key and the bitcoin can be lost ever.

But you could store an paperwallet with plain text private key in your safe at home (you make sure no one ever sees it) and give a BIP38 copy to a friend or relative.

If you don't have a safe at home, BIP38 all copies and never, ever forget the passphrase/word!
CurbsideProphet
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February 26, 2014, 11:54:09 PM
 #7

Created a bootable OS.
Downloaded GitHub BitAddress.org
Went Offline
Generated Address & Private Key
Sent Bitcoin To Bitcoin Address
Put Public & Private Key on fresh USB and physical paper.

Will my Bitcoin be secure? Of course I could lose them by plugging in the USB and getting compromised but the USB is just a back up

I spread my Bitcoin across 4 paper wallets...

Yeah you can sleep at night, you're pretty secure there. 

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RoboDawg
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February 27, 2014, 12:05:06 AM
 #8

I'll look into encrypting a wallet to give to a friend or relative, for now I just wanted to make sure my Bitcoin were in 'cold storage' so I don't lose them!

thanks for the help guys!
CMMPro
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February 27, 2014, 12:06:43 AM
 #9

If you printed the private keys to paper using an old printer and didn't cycle the power before going back online....another chance there for someone to get the keys off the printer memory.

Old printers generally didn't have data stored in memory after the power was cycled.

New printers simply cannot be trusted unless you know for sure they don't have persistent memory.

If you wrote it down by hand then a few drinks should help you to forget the private key making a future water-boarding-vulnerability-attack impossible.



 
ivroer
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February 27, 2014, 12:31:32 AM
 #10

If you printed the private keys to paper using an old printer and didn't cycle the power before going back online....another chance there for someone to get the keys off the printer memory.

Old printers generally didn't have data stored in memory after the power was cycled.

New printers simply cannot be trusted unless you know for sure they don't have persistent memory.
Very good point, make sure you're using a read-only bootable OS and power cycle the computer and the printer... or like you said: hand write the wallet if you're super paranoid about persistent printer memory.

Also never send funds [back] to a paper wallet address that you've spent from before, create a new paper wallet once you decide to spend your savings from the old paper wallet.

Quote from: CMMPro
If you wrote it down by hand then a few drinks should help you to forget the private key making a future water-boarding-vulnerability-attack impossible.

It would probably go something like this

EvilPerson: Tell me your bitcoin private keys!
You: I'd never be able to memorize a 51 character key! Please don't hurt me, you have to believe me.
EvilPerson: I believe you. Now give me all your paper wallets, and the password to your wallet.dat, or I'll hurt you.

Cold storage doesn't solve physical security problems, it just helps protect you from sneaky online thieves.
h3rlihy
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February 27, 2014, 01:04:16 AM
 #11

Don't forget to lock your paper wallets in a safe, throw the key somewhere in the ocean then bury the safe in a random place in the middle of the desert.
ivroer
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February 27, 2014, 01:30:10 AM
 #12

Don't forget to lock your paper wallets in a safe, throw the key somewhere in the ocean then bury the safe in a random place in the middle of the desert.

I say you take off and nuke the entire site from orbit. It's the only way to be sure.
descarte
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February 27, 2014, 01:56:24 AM
 #13

nice, more copies means more chances of getting stolen.
RoboDawg
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February 27, 2014, 02:07:30 AM
 #14

I'm not really concerned about my wallets getting physically stolen, just concerned about those pesky online internet thieves!
Bitcoinpro
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February 27, 2014, 02:34:25 AM
 #15

as long as you have restored it a few times as practice and you have deleted your computer wallets, you have to write over your hard drive 7 times to be secure

what happens the magnetic resonance gets stuck in down in the layer of the steel cd drive or something, take it apart and melt it down and destroy the ram  Cheesy

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Massimo80
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February 27, 2014, 02:36:16 AM
 #16

Don't forget to lock your paper wallets in a safe, throw the key somewhere in the ocean then bury the safe in a random place in the middle of the desert.

I say you take off and nuke the entire site from orbit. It's the only way to be sure.

^^^^^ This.
nimda
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February 27, 2014, 04:59:14 AM
 #17

I'll look into encrypting a wallet to give to a friend or relative, for now I just wanted to make sure my Bitcoin were in 'cold storage' so I don't lose them!

thanks for the help guys!

A BIP38 backup is great to store in a safe deposit box at your bank, too. The encryption protects against theft, and the bank protects against destruction, e.g. fire damage.

I recommend asking me for a signature from my GPG key before doing a trade. I will NEVER deny such a request.
whatsmynamehuh
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February 27, 2014, 08:32:48 AM
 #18

This is exactly why I'm glad I only trade Bitcoin on TopOption. Eventually I want my own Bitcoins but until then I'm enjoying sleeping peacefully at night Smiley
justusranvier
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February 27, 2014, 09:05:35 AM
 #19

Just use Armory...
Sheldor333
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February 27, 2014, 09:41:38 AM
 #20

How just put them in a safe place and don't worry so much. Sometimes all you have to do is relax and enjoy a little. Stay safe. If you decide you need to use the flash again, don't do it unless you are on a fresh copy of an OS or bootable one.

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