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Author Topic: How would you store >100 Bitcoins?  (Read 42306 times)
phillipsjk
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August 06, 2014, 06:43:00 AM
 #121

Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.

Because people overestimate how random their passwords really are.

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hamiltino
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August 06, 2014, 07:44:31 AM
 #122

blockchain.info is my go to lol.

Will be using the SAFE Network to store my private keys however.

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August 06, 2014, 09:54:42 AM
 #123

Brain Wallet. I'll use a poem that I wrote when I was a child.  Grin
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August 06, 2014, 11:46:33 AM
 #124

Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.

Because people overestimate how random their passwords really are.

How about a deterministic/brain wallet that is seeded with a combination of passwords/phrases as well as a randomly generated series of bits with high entropy?

A randomly generated portion of the seed to protect you from brute force attacks by hackers and a series of passwords or phrases portion of the seed to protect you from a thief gaining physical access to your private keys?

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning."   - Henry Ford
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August 06, 2014, 12:01:00 PM
 #125

Brain Wallet. I'll use a poem that I wrote when I was a child.  Grin

Very good announcing that over the internet, if one can track you down, they can search for that poem Wink

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August 06, 2014, 12:04:19 PM
 #126

Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.

Because people overestimate how random their passwords really are.

How about a deterministic/brain wallet that is seeded with a combination of passwords/phrases as well as a randomly generated series of bits with high entropy?

A randomly generated portion of the seed to protect you from brute force attacks by hackers and a series of passwords or phrases portion of the seed to protect you from a thief gaining physical access to your private keys?

high entropy is good, but why over complicate. 
If you already have high entropy, you're already protected from brute force attacks.
But yes, encrypt any backups of the seed that aren't in your brain.

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August 06, 2014, 12:10:32 PM
 #127

Would use bitcoin core in ubuntu

Make several wallets and store bitcoin amounts

Note down the list of the bitcoin address where the coins are stored.

Logout and only login when I require them to spend / send them to someone

Copy the wallets on removable storage devices

Do check the balances on those addresses from time to time to make sure all are okay
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August 06, 2014, 01:04:21 PM
 #128

Brain Wallet. I'll use a poem that I wrote when I was a child.  Grin

Very good announcing that over the internet, if one can track you down, they can search for that poem Wink

When I was a child, I wrote the poem on a shitty paper. I still keep that. Never posted it online  Wink
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August 06, 2014, 01:36:16 PM
 #129

Then again, maybe I'd just use a brain wallet. I'm good at remembering very long, quite random, passwords. Why not just store my wallet in my brain and maybe have a backup in a safety deposit box for my attorney to access in case of death.

Because people overestimate how random their passwords really are.

That's true, but mine really are very random. Could it be brute forced? Maybe, but I don't think that risk is remotely close to the risk of me losing a paper wallet or having an online wallet hacked.

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August 06, 2014, 11:46:38 PM
 #130

inuit is quite good.

For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.

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August 07, 2014, 01:07:19 AM
 #131

inuit is quite good.

For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.

But if someone gets hold of your old passwords combined with the information you just provided, the "bit security" goes down south very fast Wink

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August 07, 2014, 01:10:33 AM
 #132

inuit is quite good.

For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.

But if someone gets hold of your old passwords combined with the information you just provided, the "bit security" goes down south very fast Wink

If they managed to get passwords back to the 90s, including offline ones for routers and bank cards, then they can have it all Smiley

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August 07, 2014, 01:12:34 AM
 #133

inuit is quite good.

For long passwords I tend to use all the passwords I previously used strapped together, it's longer than than a 256 bit private key with higher variance per character.

But if someone gets hold of your old passwords combined with the information you just provided, the "bit security" goes down south very fast Wink

If they managed to get passwords back to the 90s, including offline ones for routers and bank cards, then they can have it all Smiley

Haha true, but then there is always the risk that you get a head trauma and forget the password or parts of it. And such accidents are not very rare.

I'd rather use BIP0038 protected wallet or split wallets using shamir secret sharing

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August 07, 2014, 03:35:24 AM
 #134

I would make a paper wallet then put it into a small capsule and shove it up my nose. If I need money I just blow my nose.

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August 07, 2014, 06:45:15 AM
 #135

I would make a paper wallet then put it into a small capsule and shove it up my nose. If I need money I just blow my nose.


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EternalWingsofGod
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August 07, 2014, 06:47:28 AM
 #136

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

Use something called a trezor its worth 119 dollars to sleep at night
http://www.bitcointrezor.com/

https://www.youtube.com/watch?v=xObssnQwVgg

ethought
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August 07, 2014, 03:21:39 PM
 #137

BitKee

or

Cryobit

both provide very durable fire / flood etc proof metal 'paper' wallets.

Use a BIP38 encrypted key. Keep one at home / office and one in a safety deposit box?
keithers
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August 07, 2014, 09:36:48 PM
 #138

So nobody would store it on BTC-E with no 2FA?   haha just kidding...
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August 07, 2014, 09:58:47 PM
 #139

I would put them in cold storage with the wallets stored on usb sticks, splitted in 5 bitcoins each pendrive.
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August 07, 2014, 11:04:08 PM
 #140

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

Use something called a trezor its worth 119 dollars to sleep at night
http://www.bitcointrezor.com/

https://www.youtube.com/watch?v=xObssnQwVgg
IDK if something like trezor would be something I would want to keep that kind of money protected by. It is very new and it's vulnerabilities have likely not yet been discovered and exploited. Even though this would be trusting your coins with a 3rd party, I would say coinbase vault would be the way to go for me.
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