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Author Topic: How would you store >100 Bitcoins?  (Read 42415 times)
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January 07, 2017, 09:28:28 PM
 #501

I I had 100 Bitcoins to store I would look into creating a paper wallet for a large amount and keep some on "Trezor" and up to one on or less on a device to spend btc on the go. I would certainly not keep the coins on a desktop wallet with 100+gb data to download on a computer that is always connected to the internet and I would not mess around with wallet.dat files on a dozen usb drives and I would never ever keep them at blockchain.info or some other 3rd party service.
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February 09, 2017, 11:30:56 AM
 #502

Lucky guy you are... Wish I had your problems  Cheesy
If seriously, I wouldn't store all coins in one place for sure. I'd split the amount in different parts and store in different wallets.

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February 09, 2017, 11:46:24 AM
 #503

Since I have been having issues with connecting to my blockchain wallet I am thinking about going offline for storing them now.
With that many bitcoin I would probably put them on a usb stick for safe keeping.
Maybe waterproof them in a capsule or something.

I've got issues with Blockchain too... Now I am using it just for transactions and stuff like that, and I store the rest on my paper wallets. It's way safer and nobody can get my money unless some thief comes in my home that knows about Bitcoin Cheesy
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February 09, 2017, 12:04:51 PM
 #504

Lucky guy you are... Wish I had your problems  Cheesy
If seriously, I wouldn't store all coins in one place for sure. I'd split the amount in different parts and store in different wallets.
yeah i think it is a huge amount to save and i also did store all to some paper wallet or any desktop and mobile wallet.... i think it is much more secure than a online wallet......
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February 09, 2017, 12:16:40 PM
 #505

If I need to use those amount daily I would like to store in separate wallet online on the web or mobile app. but I would trust only blockchain wallet for such heavy amount. and I don't need to use those amount daily then I would like to make a paper wallet and store it in my private locker.
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February 09, 2017, 12:19:19 PM
 #506

Since I have been having issues with connecting to my blockchain wallet I am thinking about going offline for storing them now.
With that many bitcoin I would probably put them on a usb stick for safe keeping.
Maybe waterproof them in a capsule or something.

I've got issues with Blockchain too... Now I am using it just for transactions and stuff like that, and I store the rest on my paper wallets. It's way safer and nobody can get my money unless some thief comes in my home that knows about Bitcoin Cheesy
Paper wallet is a great and the safest way of storing bitcoin however, the problem in this is its convincience and can not be recovered. Although it is secured becaude youbare the only one who only knows what is its private key, if someone reformat your personal computer, your bitcoin can't be recovered no matter what would you do.
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February 09, 2017, 12:23:00 PM
 #507

Since I have been having issues with connecting to my blockchain wallet I am thinking about going offline for storing them now.
With that many bitcoin I would probably put them on a usb stick for safe keeping.
Maybe waterproof them in a capsule or something.

I've got issues with Blockchain too... Now I am using it just for transactions and stuff like that, and I store the rest on my paper wallets. It's way safer and nobody can get my money unless some thief comes in my home that knows about Bitcoin Cheesy
Paper wallet is a great and the safest way of storing bitcoin however, the problem in this is its convincience and can not be recovered. Although it is secured becaude youbare the only one who only knows what is its private key, if someone reformat your personal computer, your bitcoin can't be recovered no matter what would you do.
Having one reliable wallet can solve your problem. Wallets that have have adjustable security like 2 factor authentication can save you from hacks. 2fa is a way where when you enter a password there will be another line of password that you need to enter and the code will be inside your email or be sent via text both of which are strong ways to protect your Bitcoin.
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February 09, 2017, 12:25:43 PM
 #508

Not that I have that many (I wish!), but how would you store >100 Bitcoins? The easy answer is just to say "create 1 offline/cold wallet and put them all in". But what about risk management? IE how do you store a very large value of coins while managing risk against hackers, forgetting passwords, the obvious need for at least 1 hot wallet, portability, easy of use, house fires, EMP bomb's (lol), or if a foreigner had to flee a country while taking no assets etc etc.

I'm looking for real responses and ideas. Please keep the trolling to a minimum Tongue

I've never had more than 5 btc so 100 btc are very big amount to me. But I was used a cold wallet, I download the bitcoin wallet software on the internet. And send all of my bitcoin to it, (at that time, I've started to learn about bitcoin and stored about 0.01 btc...). Everything was gone okay, fast transaction (I think), feeling save,... But unfortunately, my laptop has crash (there was a problem with the HDD drive) so I have to replace new HHD drive, thats mean all the offline document has gone (include my btc). Of course, its a small amount to many people, but to me, that was all of my cryptocurrency so I feel so bad... And I decide to use online wallet. There are some benefits when I using coinbase. I can restore my account via my email and phone number, it really safe (I think).
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February 09, 2017, 12:29:31 PM
 #509

Paper wallet is a great and the safest way of storing bitcoin however, the problem in this is its convincience and can not be recovered.

Paper wallets are not meant for offering people a convenient experience. People mainly use it as cold storage, or in some cases even to give someone a present in form of a well decorated paper wallet containing an x amount of coins.

Although it is secured becaude youbare the only one who only knows what is its private key, if someone reformat your personal computer, your bitcoin can't be recovered no matter what would you do.

If you already have set up a paper wallet, and you by accident format your drive where you delete your digital wallet files, then your coins aren't lost since the private keys are printed on your paper wallet. You at any time can gain access to your coins if you import your private keys into a wallet client.
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February 09, 2017, 12:43:53 PM
 #510

Lucky guy you are... Wish I had your problems  Cheesy
If seriously, I wouldn't store all coins in one place for sure. I'd split the amount in different parts and store in different wallets.

Yes, that makes sense. I keep my money in different places even when I travel somewhere. So, if I lose a card, I still have cash and vice versa.

Of course, you do not want to get any satoshi lost, but still... better to lose a tiny bit, than everything.
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February 09, 2017, 12:52:19 PM
 #511

That's a very huge account and I say that it is a very attractive amount for hackers since they are the ones that you should be wary the most . Using an offline wallet is a good choice just don't keep huge amount of bitcoin in one address . Example use a different address every .1 bitcoin and all the security features of the chosen wallet are activated .

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February 09, 2017, 01:05:09 PM
 #512

Have you guys checked the first 100k mined bitcoins? yes 100k and not 100, they are stored 50 bitcoins in each address which belongs to Satoshi.
I'm pretty sure if someone wanted to "hack" addresses they were the perfect candidates but since they only been used once without having any output they are safe.
Process requiring to hack an address is more like for someone trying to remember and guess 100 pages of paper filled with random numbers and letters, yes there are people with skills that could remember whatever they see but could they also guess what the next page's content is without seeing it first?

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February 09, 2017, 01:29:17 PM
 #513

Everything on hardware wallets these days.  I've been burned ONE time too many.

That's true and I support the trend even though I'm not having enough Bitcoin at the moment; the private keys need to be kept on flash drives or external hard drives and have it kept in a bank save or your personal safe .
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February 09, 2017, 01:51:14 PM
 #514

That's a very huge account and I say that it is a very attractive amount for hackers since they are the ones that you should be wary the most . Using an offline wallet is a good choice just don't keep huge amount of bitcoin in one address . Example use a different address every .1 bitcoin and all the security features of the chosen wallet are activated .
Offline wallets have restrictions in usage. Offline wallets cannot be accessed anywhere like the online bitcoin wallets. To increase the security it's better to split the bitcoin and place in several bitcoin wallets or else just split and invest you'll get a good stable earning as the amount is quite high about 100btc.

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February 09, 2017, 03:02:28 PM
 #515

Paper wallet ... reformat your personal computer

U R doing it rong.

What exactly do you think the 'paper' in 'paper wallet' is meant to denote?

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February 09, 2017, 03:17:20 PM
 #516

First, sorry for your loss. That said...

But I was used a cold wallet, I download the bitcoin wallet software on the internet.

We seem to have a terminology problem here. By definition, a cold wallet is one that does not exist on an internet-connected computer. Period.

Quote
But unfortunately, my laptop has crash (there was a problem with the HDD drive) so I have to replace new HHD drive, thats mean all the offline document has gone (include my btc).

Most contemporary wallets allow generating a key phrase, which you write down and store in a secure place. Using this key phrase, you can recover all your bitcoins. Too late now, but next time use this feature.

Quote
And I decide to use online wallet.

This comes with its own risks. If you are not the sole controller of the private keys, someone else can spend 'your' bitcoins.

Anyone with a campaign ad in their signature -- for an organization with which they are not otherwise affiliated -- is automatically deducted credibility points.

I've been convicted of heresy. Convicted by a mere known extortionist. Read my Trust for details.
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February 09, 2017, 03:59:36 PM
 #517

That's a very huge account and I say that it is a very attractive amount for hackers since they are the ones that you should be wary the most . Using an offline wallet is a good choice just don't keep huge amount of bitcoin in one address . Example use a different address every .1 bitcoin and all the security features of the chosen wallet are activated .
Offline wallets have restrictions in usage. Offline wallets cannot be accessed anywhere like the online bitcoin wallets. To increase the security it's better to split the bitcoin and place in several bitcoin wallets or else just split and invest you'll get a good stable earning as the amount is quite high about 100btc.

100 btc is a lot of amount and it should be stored in multiple wallets. That way make it most secure. Also Use paper wallet to store some of the bitcoins which u think wont be used for 5 years or more.  But just one precautions, never store any of your coin in web wallets and exchanges where you have no control of.









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February 09, 2017, 09:55:44 PM
 #518

I think diversification is key. 

Keep some cold, some paper, and a tad online for quick access. 

With cold wallets and paper wallets you have to worry about storing your usbs or paper etc... and keeping them safe as well.

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February 09, 2017, 10:01:43 PM
 #519

That is a lot of bitcoin and it is really sad that happened. If I had a lot of bitcoin maybe I will not store it in my bitcoin wallet anymore, maybe try to convert it and use it as a real money, but yes it is a big money and I think it will not be converted that fast, so I think maybe bit by bit I will convert, then transfer it in my ATM.

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February 09, 2017, 10:06:06 PM
 #520

Don't put all eggs in one basket, so my preference is to spread the bitcoins in multiple wallets instead in a single one.

I would put them on hardware wallet(s) and in paper wallet and a very very small amount in hot wallet depending how often am I supposed to spend them.
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