Hi!
Here is the method I plan to use for creating a cold storage, I am very new to all this, and have never used bitcoin before, I am not very technical either, anyway, here it is:
1) create a live-cd with ubuntu (on a DVD, not install anything on the hard-drive, I assume everything will be deleted once I turn off the system).
2) install Armory on ubuntu, create an encrypted wallet using the client (encryption just in case the wallet files does not delete for some reason when I turn off the os). I write down encryption key on a paper.
3) generate an address for receiving bitcoin, write down the private and public key on a paper
4) generate a paper backup for my armory wallet, write down the root-code to this on a paper using the "create paper backup" feature of armory.
5) If I ever want to send any bitcoins from my wallet and address I delete the wallet and address later. I only send bitcoins by generating a send signature using armory offline wallet that is temporary installed on a live cd, and activate the send signature with a "watch only" online wallet. The offline-wallet will never and have never touched the internet.
This way I should be able to always have access to receive and send my bitcoins if I still have the paper where I wrote down wallet encryption key, bitcoin addresses and wallet root code, and don't have to worry about data corruption or other hardware/software problems.
Is this a safe method? I plan to put about $10000 in Bitcoins in cold storage now, but just want to hear what you think about it before
sorry for beeing a noob to this. I have read about generating codes offline using bitaddress.org as a HTML file, but I have not heard from enough people checking their code to see if the "random addresses" is pre-generated by some way and not as "random" as one might think.
Thanks!