How would you store >100 Bitcoins?

[ensurance982]

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

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.

I think it is a really great project and definitely a very important first step to more hardware wallets that store people's Bitcoins safely without being too much of a hassle! But I agree that for a long term storage of especially that many Bitcoin (100 BTC), regular and proven paper wallets are the right way to go!

[DannyElfman]

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

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.

Using coinbase is definately more risky than using trezor.

[gondel]

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

I would really use paper wallets for that and close them in jars buried under the ground for sure!
BR

[RealDon]

I would put them in cold storage with the wallets stored on usb sticks, splitted in 5 bitcoins each pendrive.

That's stupid, unless you have multiple backups of each flash drive.

Just store it all on one flash drive and back the same wallet up onto 5 or so more mediums of storage. Keep an unencrypted copy or two and encrypt the rest. Send some of the encrypted ones to relatives/very good friends.

[DannyElfman]

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

I would really use paper wallets for that and close them in jars buried under the ground for sure!
BR

I hope those paper wallets are BIP38 protected! Otherwise paperwallets are pretty insecure actually!

[Repteezy]

I would feel secure having them on a paper wallet. I love reading everyone else's responses.

[justusranvier]

New answer: wait until some other wallet implements the same features/workflow as Armory, but without the phoning home part and use that instead.

[DannyElfman]

New answer: wait until some other wallet implements the same features/workflow as Armory, but without the phoning home part and use that instead.

How about just disable it, like the devs suggested? There is an OPT-OUT!

[BSIG]

Keep it simple, 100 BTC cold in very well hidden fireproof safe with a backup.

GPS coords of it is PGP protected.

Peace of mind  Priceless.

[DannyElfman]

Keep it simple, 100 BTC cold in very well hidden fireproof safe with a backup.

GPS coords of it is PGP protected.

Peace of mind  Priceless.

This sounds like the safekeeping would cost more than the worth of those coins

[keithers]

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

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.

Vault is a stellar way to protect BTC from theft, but cant help you if Coinbase has problems and shuts down, or if they freeze your account for some reason

[BSIG]

Keep it simple, 100 BTC cold in very well hidden fireproof safe with a backup.

GPS coords of it is PGP protected.

Peace of mind  Priceless.

This sounds like the safekeeping would cost more than the worth of those coins

If its an existing safe for other unimportant stuff and you only have 100 coins fast forward year 2024, well 

[DannyElfman]

Keep it simple, 100 BTC cold in very well hidden fireproof safe with a backup.

GPS coords of it is PGP protected.

Peace of mind  Priceless.

This sounds like the safekeeping would cost more than the worth of those coins

If its an existing safe for other unimportant stuff and you only have 100 coins fast forward year 2024, well 

What if someone finds it?

I think it would be much safer to just user a BIP38 wallet and use Shamir Secret Sharing algorythm to split it into 2 of 3 pieces and distribute those to very safe places.

If someone finds one piece --> nothing can happen
If someone finds 2 or 3 pieces --> nothing can happen really, because he still needs the password and he can't bruteforce it.
So basically to steal your fund, someone needs to find 2 piece AND hit you long enough to giveup your password.

Flaw: You forget where the pieces are (you can plant more than 3 obv) or you forget the password.

[knybe]

ice them puppies in a deep freeze cold storage.

[EternalWingsofGod]

ice them puppies in a deep freeze cold storage.

Ditto and then make sure that the private key is well secured ^_^
Where no one else knows about it like on the back of a painting lol paper wallet. (As long as no one moves it mumble)

[Slark]

From what I can see the best way to store digital data is to keep them in not digital state. You can't hack paper wallets but it becomes the same thing as keeping around 1 million bucks, but I am sure people know good hiding spots.

[lyth0s]

Don't get me wrong, I like the idea of having an offline PC/laptop for cold storage. Or even USB's inside of a safe etc. But I don't see this mitigating against disasters such as fires, floods, earthquakes, tornadoes and so on. Backups would have to be stored in multiple locations (in case of natural disasters it couldn't be a safety deposit box in the surrounding cities because they would be destroyed too). And having cold storage in large objects makes them very non-portable.

I do like the idea of the Trezor, question is if people will find security flaws or exploits in the upcoming few months (and will they public publish them?).
I don't like pure paper wallets, just due to paper being so vulnerable to disasters, water, condensation, fading of ink, decay, fire etc. But I do think they could be used as short term cold storage.

[EternalWingsofGod]

From what I can see the best way to store digital data is to keep them in not digital state. You can't hack paper wallets but it becomes the same thing as keeping around 1 million bucks, but I am sure people know good hiding spots.

Well the problem is digital stuff breaking then screwed
Or a fire for a paper wallet my painting!!!

So it's tricky to make sure you do not absolutely bone yourself while keeping stuff completely safe
Maybe bury one copy in the yard or something with a paper wallet copy beside it  

Just make sure the spot is easy to find or a lot of holes will be dug in the future he-he but it would be neat if someone put 100 BTC in a timecapsule or something and 100 years from now someone opened it and found it there.

[BTCevo]

What I do is keep most of by bitcoin in cold storage and some in my hot wallet, when I run out of coins in the hot wallet I simply top it up with about 4-5 btc from cold storage

[Dabs]

I'm lazy too:

https://blockchain.info/address/1Dabso5tsVpM9oZKxu8h4WYUUxjkwxC25Q

One wallet works you know. It's protected by a .45 ACP 1911-A1, buried behind a platoon of completely loyal pitbulls, rottweilers and german shepherds. They can only be bribed with meat.