AriceInWonderland
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August 30, 2014, 10:19:28 AM |
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Armory with an m-of-n backup with dedicated separate cold wallet and hot wallet computers. Distribute the m-of-n backups geographically and among a couple different safe deposit boxes. In your will write clear instructions on how to recover the coins with the backups. This is the safest way to store coins imo.
What would you need a hot wallet computer for? Other than that, this is a great method.
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QuestionAuthority
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You lead and I'll watch you walk away.
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August 30, 2014, 01:05:36 PM |
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I'd write it on a grain of rice and put it in a bowl full of rice in the kitchen. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2F1.bp.blogspot.com%2F-96k2XwcPp78%2FTr06mLDoTmI%2FAAAAAAAAAbs%2FQ574Z9eiONg%2Fs1600%2FIMG_0671.JPG&t=665&c=_UDQL6mCtpyc7w)
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hhanh00
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August 30, 2014, 01:48:21 PM |
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Good idea until someone eats your rice ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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QuestionAuthority
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You lead and I'll watch you walk away.
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August 30, 2014, 02:46:21 PM |
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Good idea until someone eats your rice ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Yeah, that could be a problem. Could you imaging realizing that you're steaming 100 Bitcoins. ![Shocked](https://bitcointalk.org/Smileys/default/shocked.gif)
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itsAj
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August 30, 2014, 06:13:42 PM |
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I'd prefer to sell them, I would be too worried to lose them all making some mistakes using cold storage wallets.
Although not trying to solicit any sort of business (just trying to gauge how people are thinking) do you think if someone were to offer you a service to "help you to do cold storage" with M of N addresses (i.e. that needed say 2 of 3 sigs) would that change your mind? I think a better solution would be to simply hand over your BTC to someone extremely trusted who you believe will not be going anywhere for the term of your sentence and will only return your BTC upon receipt of a very specific password sent at very specific circumstances (that would be easy to replicate, hard to forget, and hard to guess). I'm currently holding some btc for a sister-in-law because it's too technical for her, and she doesn't know how to manage wallets and backup. The cruxes of bitcoin for the old generation or the non technical savvy crowd. There you go! I think there could potentially be a niche market for this kind of service as there are a lot of people who are not tech savvy enough to properly secure their own bitcoin.
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minerpumpkin
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August 30, 2014, 06:30:07 PM |
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I'd use 2-3 various ways of storing those bitcoins, in case one of my strategies really should be flawed! But I'd definitely keep most of those coins in a paper wallet of some sort! Online wallets or wallets on an online computer are just too unsafe!
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I should have gotten into Bitcoin back in 1992...
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messibtc
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August 30, 2014, 06:37:48 PM |
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I would buy several usb sticks and put on the one hundred wallets (one each) in cold storage.
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ariyaromadhona
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August 30, 2014, 06:42:30 PM |
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I wish sometime i can :v Lol .. i will separate them to few wallet , i'll make 3 Offline Wallet and i'll put there 20 BTC each wallets , 15 Online wallets , 1 BTC each wallets .. and 1 phone wallet with 5 BTC inside it ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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knifeedge
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August 30, 2014, 07:00:33 PM |
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Armory with an m-of-n backup with dedicated separate cold wallet and hot wallet computers. Distribute the m-of-n backups geographically and among a couple different safe deposit boxes. In your will write clear instructions on how to recover the coins with the backups. This is the safest way to store coins imo.
What would you need a hot wallet computer for? Other than that, this is a great method. You use the hot computer to create transactions on a watch-only wallet that you can bring back to the cold wallet to sign. You then bring that transaction back to the hot computer and broadcast it.
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linxproz
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August 30, 2014, 07:15:11 PM |
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With 100 bitcoins I would take ten trezors and store 10 bitcoins in each one of them.
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kazim123
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August 30, 2014, 07:26:42 PM |
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its better to keep them in pc wallet ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif)
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littlebeetle
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August 30, 2014, 08:00:53 PM |
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Same way I'm already storing my <100 BTCs (simple cold storage paper wallets with off site backups). Doesn't matter how many there are, it only matters whether or not you care if they're lost.
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ParacelStorm
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August 30, 2014, 08:53:36 PM |
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In the case of 100+ BTC. I's very simple. 2 things. One, you want to keep an eye on that, so as they don't just disappear over night. Two you want that off-line, far from the prying hand of hackers! My suggestion, is break it down into 4 paper wallets, generated off-line, 25+ each. Each using a unique pass-phrase or password. Paper wallets are stored in a plastic zip-lock bag for moisture protection. The private keys associated with their corresponding public key should be copied to a SD, USB, or a removable media device by an off-line computer, and that to should be zip for moisture!
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ParacelStorm
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August 30, 2014, 09:00:30 PM |
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Paper wallets can be stored in a safety deposit box, along with the SD/USB device at a local bank. No sense in banking crypto if your gonna have a version hanging around the house. The four keys should be installed in view mode only on an Application such as Mycelium, or links to the blockchain should be created in your browser, as to keep an eye on them as you move from day to day! If long term banking is required, then only passwords can be kept around the house, say in a cookie jar, picture frame, etc. Enjoy crypto man it's alot of fun!
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future_quark369
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August 30, 2014, 09:07:35 PM |
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Offline storage, and a secure paper wallet.
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Ondago
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August 31, 2014, 08:34:46 PM |
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In the case of 100+ BTC. I's very simple. 2 things. One, you want to keep an eye on that, so as they don't just disappear over night. Two you want that off-line, far from the prying hand of hackers!
My suggestion, is break it down into 4 paper wallets, generated off-line, 25+ each. Each using a unique pass-phrase or password. Paper wallets are stored in a plastic zip-lock bag for moisture protection. The private keys associated with their corresponding public key should be copied to a SD, USB, or a removable media device by an off-line computer, and that to should be zip for moisture!
Paper wallets can be stored in a safety deposit box, along with the SD/USB device at a local bank. No sense in banking crypto if your gonna have a version hanging around the house.
The four keys should be installed in view mode only on an Application such as Mycelium, or links to the blockchain should be created in your browser, as to keep an eye on them as you move from day to day!
If long term banking is required, then only passwords can be kept around the house, say in a cookie jar, picture frame, etc. Enjoy crypto man it's alot of fun!
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Jeramom
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August 31, 2014, 08:51:10 PM |
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These sound like highly complicated methods to storing BTC. How is the average person supposed to adopt a system like this?
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WineAndWhiskey
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August 31, 2014, 09:13:49 PM |
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These sound like highly complicated methods to storing BTC. How is the average person supposed to adopt a system like this?
Because some business will take a highly complicated method, wrap it in some nice easy to use package - and sell it to the average person.
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cinnamon_carter
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August 31, 2014, 09:22:52 PM |
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i would like to revise my earlier reply where I stated 'the others gave you good solutions' and just cautioned that storing anything in a bank safe deposit box can be siezed by the us govt under the patriot act and they don't have to tell you.
Many people discuss paper wallets, i was thinking about how unsecure printers are.
Almost every printer on the market has known vulnerabilities.
If you want to hack into someones network the printer is often a soft spot
Also many people have done forensic studies of recovering information that was printed .....
So, I would say use extreme caution if going with a paper wallet.
Always remember , your house could burn down or things could be stolen.
Althogh I am not personally familiar with Armory at a glance it appears like a pretty good way to store btc.
Again if storing btc I guess another factor is how often if ever you plan to access that bitcoin to spend it.
It is a lot safer to store it with a solution like armory or in a strongly encrypted wallet on a totally clean machine , never hooked to the web (recommend not using windows as an os either, linux much safer) after your wallet is encrypted you can use the old method to encrypt the entire drive image and keep that. Where you keep it, how many copies you keep of it would depend on your personal situation.
I certainly would avoid any online storage unless for small amounts of btc.
Personally I think that those who believe btc was intended to buy cups of coffee and such are crazy.
I guess I hold a minority opinion on that.
Still be careful with printers.
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