DannyHamilton
Legendary
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Activity: 3388
Merit: 4616
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May 03, 2014, 05:20:15 PM |
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Can u plz point out where Satoshi Nakamoto recommended this way ?
The original Bitcoin Whitepaper. Before he every even released the software. Section 10. Privacy a new key pair should be used for each transaction to keep them from being linked to a common owner.
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Yakamoto
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Activity: 1218
Merit: 1007
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May 03, 2014, 05:22:14 PM |
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What do you recommend as the number of wallets to have?
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DannyHamilton
Legendary
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Activity: 3388
Merit: 4616
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May 03, 2014, 05:32:11 PM |
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What do you recommend as the number of wallets to have?
At least 3.
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DonQuijote
Legendary
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Activity: 1551
Merit: 1002
♠ ♥ ♣ ♦ < ♛♚&#
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May 03, 2014, 05:32:15 PM |
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bitstamp, btc-e, cryptsy, bter, bittrex, poloniex..
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THE INGENIOUS GENTLEMAN DON QUIXOTE OF LA MANCHA
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DonQuijote
Legendary
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Activity: 1551
Merit: 1002
♠ ♥ ♣ ♦ < ♛♚&#
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May 03, 2014, 05:32:44 PM |
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What do you recommend as the number of wallets to have?
At least 3. why 3?
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THE INGENIOUS GENTLEMAN DON QUIXOTE OF LA MANCHA
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Pony789
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May 03, 2014, 05:39:37 PM |
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4 wallets for me. 1 on btc-e, 1 on bitstamp, 1 on my computer, 1 paper wallet.
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Yakamoto
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Activity: 1218
Merit: 1007
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May 03, 2014, 06:12:22 PM |
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I am also curious... Why 3?
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Pony789
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May 03, 2014, 06:33:50 PM |
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What do you recommend as the number of wallets to have?
At least 3. why 3? I am also curious... Why 3?
Maybe one exchange wallet holding 0 btc in 99.9% time only for buy/sell bitcoin, one for for holding a small amount of bitcoin for daily usage, one holding all the rest bitcoin offline. Just my own guess.
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jbrnt
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May 03, 2014, 06:44:08 PM |
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If people are into alt coins, I would think they will have more wallets at exchanges. I don't mine or buy alts, so I only have 3 bitcoin wallets, and 1 exchange account which holds no coins.
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DannyHamilton
Legendary
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Activity: 3388
Merit: 4616
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May 03, 2014, 10:18:52 PM |
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What do you recommend as the number of wallets to have?
At least 3. why 3? With my local currency: I have a "very secure" storage at the bank, but it's difficult to access the cash if I want it ( either wait until they are open to make a withdrawal, or use an ATM which has limits and fees) I also can store some cash in my pocket. This is much more convenient (I have the cash immediately at hand at every moment) Unfortunately, this is a high risk situation where a thief could steal it. Pulling too much out of my pocket can even make me a target for thieves. Therefore, to reduce risk, I generally carry much smaller amounts in my pocket at any moment. To have easier access, while reducing risk of theft, I can store moderate amounts of cash in my house in a safe. I can use this to replenish what I spend from my pocket. I use a similar "multi-tier" approach with Bitcoin. I have paper wallets for "very secure", but inconvenient storage of larger amounts. I have a web hosted, or mobile device, wallet for high risk but quick access small amounts. I have an Armory (or Electrum offline) wallet to replenish my "carrying around" wallet or for purchases from websites while at home.
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poison5151 (OP)
Newbie
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Activity: 4
Merit: 0
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May 04, 2014, 04:28:47 PM |
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With my local currency:
I have a "very secure" storage at the bank, but it's difficult to access the cash if I want it ( either wait until they are open to make a withdrawal, or use an ATM which has limits and fees)
I also can store some cash in my pocket. This is much more convenient (I have the cash immediately at hand at every moment) Unfortunately, this is a high risk situation where a thief could steal it. Pulling too much out of my pocket can even make me a target for thieves. Therefore, to reduce risk, I generally carry much smaller amounts in my pocket at any moment.
To have easier access, while reducing risk of theft, I can store moderate amounts of cash in my house in a safe. I can use this to replenish what I spend from my pocket.
I use a similar "multi-tier" approach with Bitcoin.
I have paper wallets for "very secure", but inconvenient storage of larger amounts. I have a web hosted, or mobile device, wallet for high risk but quick access small amounts. I have an Armory (or Electrum offline) wallet to replenish my "carrying around" wallet or for purchases from websites while at home.
This is a great approach, it should be advocated or at least described on the wiki ...
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sj2199
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May 04, 2014, 04:34:34 PM |
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medicine
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May 05, 2014, 05:30:40 AM |
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I use bitcoin-QT with armory and blockchain on my phone. I try to use as many exchanges as possible, but only keep money on 3 or 4. Cavirtex, VOS, Bitfinex, Bter, Korbit, Coinplug, Kraken, Btc-e, looking into BitX. Used to use Gox, Vicurex and Bitup before they imploded. Looking forward to the launch of Ciphertade as well. Peace
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Massimo80
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May 05, 2014, 01:01:21 PM |
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I only use a single wallet on my desktop computer, running Bitcoin-QT; I don't actually have many BTCs now due to having got goxxed hard, and I never had lots of them anyway, thus I'm ok with a single-wallet setup (of course with encryption and proper wallet backup).
I trade on various exchanges and I have an active account on almost all the ones trading in EURs, but I don't keep money there unless actively using it.
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Cryptogirl82
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May 05, 2014, 02:01:11 PM |
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only cryptsy is real.
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Cryptogirl82
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May 05, 2014, 02:02:16 PM |
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I use to use cryptorush.in before they closed down. But that was a scam site anyway!
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