Theft and Seizure Proof Cold Storage

[5flags]

Let's assume that my house gets burgled periodically, that police routinely confiscate all my possessions and that I run the risk of being abducted or imprisoned for N years. Where would I store my Bitcoins?

A computer is a no go.

A paper wallet can be seized/burned/lost.

A web wallet could vanish while I was in prison.

I should say that none of those scenarios are likely (touch wood) it is just a thought exercise.

A brain wallet is the only thing I can think of. Can anyone think of any other creative solutions? Some encrypted file sat somewhere where it can be stored long term? Passphrase encrypted private key embedded in the blockchain?

[j3steven]

bury your paper wallet in your backyard

[S4VV4S]

For all I know, all you need is the private key right?

So why not make a cool tribal tattoo and blend it in there in a way that only you can read it

[5flags]

bury your paper wallet in your backyard

My house will be bulldozed while I'm in prison to make way for a Starbucks

[salsacz]

convert your Bitcoins into Nxt - so you can use only a brainwallet. Nobody can confiscate your password to your Nxt brainwallet

[5flags]

For all I know, all you need is the private key right?

So why not make a cool tribal tattoo and blend it in there in a way that only you can read it

Prison Break style...like it.

[5flags]

convert your Bitcoins into Nxt - so you can use only a brainwallet. Nobody can confiscate your password to your Nxt brainwallet

I already have bags of NXT, but as a store of value, the risk of it vanishing in N years is higher than Bitcoin.

[lemfuture]

For all I know, all you need is the private key right?

So why not make a cool tribal tattoo and blend it in there in a way that only you can read it

Prison Break style...like it.

then u get shot n die wen found

[5flags]

For all I know, all you need is the private key right?

So why not make a cool tribal tattoo and blend it in there in a way that only you can read it

Actually, knowing my luck, the tattooist would steal my Bitcoins

[Zetler]

>A computer is a no go.
Unless encrypted with TrueCrypt

>A paper wallet can be seized/burned/lost.
Make several copies

>A web wallet could vanish while I was in prison.
True

Write your seeds/keys on a paper. Make three copies of it. Cut each paper into three pieces. Now you have nine notes, call them A1, A2, A3 for first paper, B1, B2, B3, for second paper, and C1, C2, C3.
Hide each piece at a separate location.

If you are be able to collect (A1 or A2 or A3) and (B1 or B2 or B3) and (C1 or C2 or C3) your coins are saved. It is unlikely that someone else will know what to do with these notes even if they find them.

[DannyHamilton]

A brain wallet is the only thing I can think of.

Age, injury, or illness can lead to an inability to remember the brainwallet.  Looks like that won't work either.

Passphrase encrypted private key embedded in the blockchain?

Just like the brainwallet, you could forget the password.

Need a better idea.

[DannyHamilton]

>A computer is a no go.
Unless encrypted with TrueCrypt

And the password can be forgotten.

>A paper wallet can be seized/burned/lost.
Make several copies

Multiple copies doesn't protect the bitcoins from being seized, but it does reduce the probability that all copies will be lost or destroyed.

Write your seeds/keys on a paper. Make three copies of it. Cut each paper into three pieces. Now you have nine notes, call them A1, A2, A3 for first paper, B1, B2, B3, for second paper, and C1, C2, C3.
Hide each piece at a separate location.
If you are be able to collect (A1 or A2 or A3) and (B1 or B2 or B3) and (C1 or C2 or C3) your coins are saved.

Or just create a multi-sig transaction that requires 3 of 9 signatures.  Then write each of 9 private keys on a separate piece of paper and hide each piece in a separate location.  that way it won't matter which 3 pieces you can recover, as long as you can recover 3 pieces.  Of course this isn't certain protection, it just increases the probability that you'll be able to recover enough pieces, and makes it a bit more difficult for someone else to recover enough pieces.  Of course, you still have to be able to actually remember where at least 3 hiding spots that have avoided destruction and discovery.

[runam0k]

Age, injury, or illness can lead to an inability to remember the brainwallet.  Looks like that won't work either.

Or it could lead to you forgetting you ever had bitcoins, so all is fine.

I think one time computer use to set up an Electrum wallet, hide the seed words in a big document (download an ebook or something) and email it to yourself / save a million copies of it everywhere you can think of.  All you have to remember - which is the bare minimum in any event - is how to find the wallet (i.e. seed).

[DannyHamilton]

Age, injury, or illness can lead to an inability to remember the brainwallet.  Looks like that won't work either.

Or it could lead to you forgetting you ever had bitcoins, so all is fine.

Certainly.  You could also die before reaching the point where you want to access the bitcoins.  Again, all is fine.

But, if you know you have bitcoins, and you know what you did to protect them (know you used a brainwallet, or password, or hid keys, etc), but can't remember the necessary information to recover them when you want them, well that's just as frustrating and upsetting as a destroyed paper wallet or seized computer wallet.

[beatljuice]

Seems like a scenario with several kinds of safety and redundancy would be the way to go.

Maybe put your private key on an encrypted USB drive in a safety deposit box and put several copies of that password around the house, now your safe from thieves. And if your accounts are seized they can't get your password.

Then make multiple USB wallets with the same private key (different passwords in the safety deposit box?) and bury/hide them at your house, friends and families houses and maybe even a couple of "public" places.

Not fully thought out, but maybe someone could expand on this idea.

[jparsley]

U can use qr code print on metal using 3d print a metal copy of ur btc qr key. And hide safely

[BlockchainHelp?]

Bury a USB & Paper wallet in the middle of nowhere and write the location on a Pick 4 lottery ticket! (Breaking Bad!)

Seriously tho, burying them in a remote location is your best bet.... or a brain wallet

[pajak666]

truecrypt + strong password and you can place them anywhere you want in any quantity you want.
secure and strong password is mandatory ofc

one copy of the USB stick containing truecrypt container somewhere, other at good friends, maybe some at your relatives, one at garage?
true crypt container on your smartphone also.
If your password is strong enough and I mean STRONG those USB sticks are just bricks to anyone who got them.

OTOH if you menage to remember very long password you can do the same with brain wallet

[jonald_fyookball]

>A computer is a no go.
Unless encrypted with TrueCrypt

And the password can be forgotten.

>A paper wallet can be seized/burned/lost.
Make several copies

Multiple copies doesn't protect the bitcoins from being seized, but it does reduce the probability that all copies will be lost or destroyed.

Write your seeds/keys on a paper. Make three copies of it. Cut each paper into three pieces. Now you have nine notes, call them A1, A2, A3 for first paper, B1, B2, B3, for second paper, and C1, C2, C3.
Hide each piece at a separate location.
If you are be able to collect (A1 or A2 or A3) and (B1 or B2 or B3) and (C1 or C2 or C3) your coins are saved.

Or just create a multi-sig transaction that requires 3 of 9 signatures.  Then write each of 9 private keys on a separate piece of paper and hide each piece in a separate location.  that way it won't matter which 3 pieces you can recover, as long as you can recover 3 pieces.  Of course this isn't certain protection, it just increases the probability that you'll be able to recover enough pieces, and makes it a bit more difficult for someone else to recover enough pieces.  Of course, you still have to be able to actually remember where at least 3 hiding spots that have avoided destruction and discovery.

Bitcoin supports that? Sorry if it's a noob question. Haven't gotten into multisig yet but I heard it supports a 2/3... Wasn't aware you could do a 3/9.  My own method is just splitting the pwd into 2 pieces and hiding them in different places so if I ever forget the pwd i can retrieve it.

[pajak666]

there is also a method of paper encryption (not only for storing priv keys but any important info)
which base on a method that you can print 3 piece of papers, give each person his copy or store somewhere.
If you want to decrypt the information you need only 2 of 3 pieces of papers.
I can not find link to this method now, but I believe it was discussed in Armory thread.