LittleBitFunny
Full Member
Offline
Activity: 1428
Merit: 129
The first decentralized crypto betting platform
|
|
February 16, 2017, 03:31:23 PM |
|
Well, obviously have a cold wallet and find 2-3 trustworthy services to have the cold wallet from. Then open multiple Bitcoin accounts inside each service and split your coins evenly between them. If one of your accounts is hacked, you'll only lose a small amount of Bitcoin, and you'll be partially covered in the unlikely event that one of the services is hacked. You also want to make sure that the computer your cold wallet is stored on is very safe. Burglar alarms etc. Plus, hide the file to open the wallet deep in the computer and don't have it on a mobile device.
|
|
|
|
|
|
Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
DeathAngel
Legendary
Offline
Activity: 3108
Merit: 1598
#1 VIP Crypto Casino
|
|
February 16, 2017, 03:41:29 PM |
|
Multiple paper wallets hidden in various places. Risk management my friend, never keep all your coins on/in one wallet.
|
|
|
|
severaldetails
|
|
February 16, 2017, 04:02:49 PM |
|
Using multiple wallets will not improve the protection you have over those bitcoins. You would even have higher risks having more wallets than just one.
You are just contradicting what many bitcoiners have been doing so far. Different wallet each with some 2 to 5 bitcoins and different password with multiple back copy in different geo location would be the idea I will follow to protect 100 bitcoins if I will be having. Splitting into multiple addresses and wallet will reduce the risk as far as I understand. I must agree as well that many wallets are better for storing big amounts. Of course the risk is higher that one gets compromised, but I think it's easier to live with a loss of a few percent than losing everything. Paper wallets seem to be the most secure wallet from all I have heared.
|
|
|
|
lite
Legendary
Offline
Activity: 1400
Merit: 1009
|
|
February 16, 2017, 04:18:40 PM |
|
I would buy 4 hardware wallets and send 20 btc in each and create paper wallet for the rest.
|
|
|
|
Kevin77
Legendary
Offline
Activity: 1652
Merit: 1057
|
|
February 17, 2017, 05:23:07 PM |
|
I would create multiple online wallets to store half of my bitcoin on them and store the other half into exchange, like selling bitcoin when the price is high and rebuy it when it goes down, as for why not keeping it in one wallet is to avoided getting tracked and why not use offline wallets just because they are not as safe as the online servers.
Cold storage is the method, I have saved some of my bitcoins, but I was enforced to bring them online when I faced financial emergency. Maybe be still I will save some 10% into cold storage but definitely not all the coins.
|
|
|
|
Luterwish
Newbie
Offline
Activity: 28
Merit: 0
|
|
February 17, 2017, 06:30:35 PM |
|
I will distribute them in a few offline wallets and make a backup of those and put it into a secure vault.
|
|
|
|
Tyrantt
|
|
February 17, 2017, 06:53:26 PM |
|
The first post is brilliant. I'd probably get a few wallet, 5 or 6 and split that sum among those few. Then of, I'd use gold storage, offline but I'd keep one btc or 0.5btc online like blockchain.info just in case I want to buy something or exchange.
|
Need some spare btc for a new PC that can at least run Adobe Dreamweaver.
BTC - 19qm3kH4MZELkefEb55HCe4Y5jgRRLCQmn ♦♦♦ ETH - 0xd71ACd8781d66393eBfc3Acd65B224e97Ae1952D
|
|
|
brain_dead
Newbie
Offline
Activity: 30
Merit: 0
|
|
February 17, 2017, 06:56:13 PM |
|
In a very lazy person, so I'll probably be storing them in a single offline wallet.
|
|
|
|
bitbunnny
Legendary
Offline
Activity: 2898
Merit: 1068
WOLF.BET - Provably Fair Crypto Casino
|
|
February 17, 2017, 07:05:33 PM |
|
I think everyone who has such large amount of coins must be worried for them. I would probably be very paranoic so I would use multiple wallets, with divided funds. Probably combination of hardware wallet, paper wallet and online wallet but with least of coins in that one. And still I wouldn't sleep tight.
|
|
|
|
iv4n
Legendary
Offline
Activity: 3136
Merit: 1172
|
|
February 17, 2017, 08:49:13 PM |
|
When you have 100 btc you are a rich person, at this momentum. Best thing to do is always splitting this money on many parts and investing them in all sort of things, and in the end couple wallets with different amounts on them will help to keep what is left. In this case you are provided with security, plus you have money invested and you can expect profit on several places. When you are rich its easy to make more money, when you are poor starting from zero is hard, cause of that you never ask man where he earned his first million.
|
|
|
|
richardsNY
Legendary
Offline
Activity: 1232
Merit: 1091
|
|
February 17, 2017, 09:02:02 PM |
|
I would buy 4 hardware wallets and send 20 btc in each and create paper wallet for the rest.
That's what I consider to be overkill as one hardware wallet device is more than enough. I use my Trezor in combination with Multibit to allow myself to have my cold wallet coins stored in several addresses. No problems here. It gives me an ultimate feeling of security as I realize how I have been exposing myself to the risks of malware and stuff before I bought myself an hardware wallet. It will even make you forget about paper wallets.
|
|
|
|
phr0stbyt3
|
|
February 17, 2017, 09:17:51 PM |
|
BTC100 is worth almost $100,000. So I will not mind spending $100 or $200 in its storage. First of all, I will purchase a brand new computer (one with a basic configuration). I will install the blockchain and create a Bitcoin wallet. Once I have the wallet, I will store the backup of the private key in a brand new USB drive. I will transfer BTC10 to this wallet. Once all the necessary backup is taken, I will format the computer, and reinstall the blockchain. This time, I will create a new wallet address. I will transfer another BTC10 and take the necessary backups. I will repeat this until all of my coins are safely stored.
Wow that's actually a really good idea but won't it take so much time why don't you just convert few of them to altcoins or why don't you just put in some online wallet like coinbase and use the vault system over there which is really secure. I don't disagree with your method but don't you think one mistake can ruin everything so why not just keep it simple.
|
|
|
|
FasTroy
|
|
February 17, 2017, 10:01:24 PM |
|
I will divide my high amount into many web wallets. because,one day if someone hack your bitcoin wallet, He just stole a part of your money, not all. So you can avoid this by creating some wallets and save your money their. But you can find a lot of secure web wallet which the possibility of hacking is too low, so you can rely on them.
|
|
|
|
Blackdeath
Sr. Member
Offline
Activity: 910
Merit: 261
★Bitvest.io★ Play Plinko or Invest!
|
|
February 17, 2017, 10:37:01 PM |
|
I will divide my high amount into many web wallets. because,one day if someone hack your bitcoin wallet, He just stole a part of your money, not all. So you can avoid this by creating some wallets and save your money their. But you can find a lot of secure web wallet which the possibility of hacking is too low, so you can rely on them.
I think, you don't need to creat multiple wallets. Blockchain is safe enough to protect your Bitcoins. What is needed is secured your account and maximize your sedurity in order to prevent hacking. I also do turning of emails do when there is a log in attempt, there is no chance that I'm going to approve it since I dom't open my email.
|
|
|
|
tribanogrami
Sr. Member
Offline
Activity: 490
Merit: 251
Revolutionizing Brokerage of Personal Data
|
|
February 17, 2017, 10:44:40 PM |
|
Im so happy to have no such problem like this But i wish If i have 100 btc. I will exchange to cash 90 btc. Store 10 btc in blockchain. If blockchain cant protect noone can i belive. Blockchain technology is the safest one but like i said i have not such problem about store btc
|
|
|
|
deppil
|
|
February 17, 2017, 11:00:39 PM |
|
I will divide my high amount into many web wallets. because,one day if someone hack your bitcoin wallet, He just stole a part of your money, not all. So you can avoid this by creating some wallets and save your money their. But you can find a lot of secure web wallet which the possibility of hacking is too low, so you can rely on them.
100 BTC of course is a very large number. you have to divide it into several wallets. in order to minimize large losses when the wallet successfully hacked of course I would make at least 20 purses, by using authentication for all wallets
|
|
|
|
HaXX0R1337
|
|
February 18, 2017, 03:50:24 AM |
|
Im so happy to have no such problem like this But i wish If i have 100 btc. I will exchange to cash 90 btc. Store 10 btc in blockchain. If blockchain cant protect noone can i belive. Blockchain technology is the safest one but like i said i have not such problem about store btc The OP was asking about storing 100 bitcoin and not converting it into fiat. I am not sure anyone would want to store their coins online as you have many options to have more control over your coins. Having a hardware wallet is one option i would choose if am storing a large amount of coins.
|
|
|
|
poloniexwhale
|
|
February 18, 2017, 04:20:05 AM |
|
Of course you need to store it in your cold wallet, or big exchanges, but it is more dangerous than your local wallet. Website can run away, like mtgox, mintal, cryptsy.
|
|
|
|
asdalani
|
|
February 18, 2017, 08:36:16 AM |
|
If I had to store one hundred Bitcoins, I would place them inside a paper wallet attached to a microchip with a small cord going out from it. Once I placed the coins into a paper wallet, I would put the paper wallet and its accessories inside an airtight aluminum sphere while attaching the microchip cord from within the sphere to the outside microchip of the aluminum sphere then launch the sphere to space. The sphere should rotate among the orbit of the earth while keeping the paperwallet safe, plus if anyone finds it then they would get a one hundred Bitcoin worth reward.
If I ever needed to get my Bitcoins back and nobody gotten them yet then I would use one of my personal NASA buddies and use a high-power laserbeam to transmit the data from my aluminum sphere to beam back data into my data chip placed in my computer that is attached to the NASA laserbeam via USB, then I could use the Bitcoins and exchange some BTC to regular fiat and pay NASA to triangulate the data from the beam to the computer -properly calculate the distance of travel between (x time + a distance) then the NASA workers will retrieve the aluminum sphere that was tracked down and celebrate with a single Bitcoin because we haven't interfered with the airspace regulations and also because a single Bitcoin is worth 20 billion dollars.
How about you?
|
|
|
|
bob123
Legendary
Offline
Activity: 1624
Merit: 2481
|
|
February 18, 2017, 08:59:37 AM |
|
You defeintely should split it into about 10BTC wallets. Then i'd store them in a Mix made off Hardware Wallets, Paper wallets and 1 Hot Wallet + 1 Cold wallet to send/recieve from Hot Wallet. Best would be to encrypt any Papyer-/Hardwarewallets with a password only you know.. Maybe use a sentence or anything you can keep in your head for a lot of years.. Then just hash it.. and thats your password.. In case of any EMP/House Fire you should be able to recover those addresses if you keep your seed safe.
|
|
|
|
|