How to keep your bitcoins secure if you suddenly disappear (jail or prison)

[Fray]

Paper wallets handed out to family and very close friends, use password.  Could also bury one somewhere.

I don't think this would work very well. What if the government were to talk to your family/friends, find that you have given them papers to keep, then get search warrants to seize anything you have given your associates?

[saddambitcoin]

Paper wallets handed out to family and very close friends, use password.  Could also bury one somewhere.

I don't think this would work very well. What if the government were to talk to your family/friends, find that you have given them papers to keep, then get search warrants to seize anything you have given your associates?

Ok let's say they do manage to grab the paper wallets from your family. They still don't have the password, they can't spend the funds. Unless they manage to coerce it from you.

Bonus: If you destroy the public key and ONLY save the encrypted private key of your paper wallet, Gov won't be able to figure out your bitcoin address.

[zeetubes]

its interesting that even though bitcoin is a new paradigm in terms of currency, most replies offer up old world solutions. Nothing wrong with that but somewhere out there is an elegant solution that matches the innovation of bitcoin. and whoever comes up with it will be sitting pretty.

[Pente]

This is one major reason I use a brainwallet. Even if I lose everything (except my mind and then I won't care), I still have my bitcoins.

The original brainwallet site:

https://brainwallet.github.io/

I made a copy of the web page and double checked all the code. I actually use this now (still only offline though in case of malware or someone hacks my web site). You can also use it as a double check.

http://www.paganmind.com/_Brainwallet.htm

You could also do a SHA-256 at several websites of your brainwallet phrase, for instance:

http://www.xorbin.com/tools/sha256-hash-calculator
You still need to convert from HEX to BASE58 with Checksum to get your private key though, but you can verify that the secret exponent is still okay.

Make sure you only recover your private key while offline!!!!!

[Merriweather]

If you get jailed for years for whatever reason what is the best way to keep your bitcoins secure for when you (hopefully) get released?

There is currently a lot of bullshit laws in the USA that a red-blooded white man could easily get jailed for.


Discuss.

I guess its true...Certain govt entities who shall remain nameless do have a presence on this site LOL...WTF? 

[alesx.onfire]

Encrypted paper wallet. Spread it around. No worries.   

[Fray]

Paper wallets handed out to family and very close friends, use password.  Could also bury one somewhere.

I don't think this would work very well. What if the government were to talk to your family/friends, find that you have given them papers to keep, then get search warrants to seize anything you have given your associates?

Ok let's say they do manage to grab the paper wallets from your family. They still don't have the password, they can't spend the funds. Unless they manage to coerce it from you.

Bonus: If you destroy the public key and ONLY save the encrypted private key of your paper wallet, Gov won't be able to figure out your bitcoin address.

Even if the government couldn't spend your bitcoin they could still prevent you from spending it, so you would be in he same situation as if they did spent it.

[johnyj]

Heard about this:

A brain wallet with secret phrase stored in blockchain, you only need to remember a block number and a specific way to generate that phrase

For example, find block 315475, take the first transaction which includes more than 20 "to" address, take no.7 character of each address, from first address to twentieth address, make a 20 character phrase, then generate the brain wallet using that phrase and an offline webpage

There are many ways to pickup character from each address, not necessary to be always 7th character, if you design it carefully, it is impossible for others to guess the phrase or brute force it while extremely easy for you to remember it

[nioc]

its interesting that even though bitcoin is a new paradigm in terms of currency, most replies offer up old world solutions. Nothing wrong with that but somewhere out there is an elegant solution that matches the innovation of bitcoin. and whoever comes up with it will be sitting pretty.

As Andreas A has said it's virtually impossible to secure digital data and we only have a few decades trying to do that.  We are however very good at physical security as we have centuries of experience with it.

I would never rely on anything digital to back up my btc.

Also please note that it has been said that one problem of mine is that I pass for white.

[jonald_fyookball]

its interesting that even though bitcoin is a new paradigm in terms of currency, most replies offer up old world solutions. Nothing wrong with that but somewhere out there is an elegant solution that matches the innovation of bitcoin. and whoever comes up with it will be sitting pretty.

As Andreas A has said it's virtually impossible to secure digital data and we only have a few decades trying to do that.  We are however very good at physical security as we have centuries of experience with it.

I would never rely on anything digital to back up my btc.

Also please note that it has been said that one problem of mine is that I pass for white.

I would appreciate a link to that speech where he said that.

[nioc]

I believe it's in the following video which is also on his website.  Bitcoin Cryptocurrency Crash Course
This crash course is 1:12 long and I have no idea at what point he mentions it.  I'm only 99% certain this is the correct video.  This talk is from last summer in silicon valley.  Being it was from last year some things are a bit outdated like regulatory uncertainty which also led him to say he wouldn't recommend it as an investment.  Meanwhile he says that it was almost all his investment.  This was before the congressional meetings last year and the subsequent bubble.  I gave this video to a certified financial planner as part of an intro I made for him about btc.

http://www.youtube.com/watch?v=JP9-lAYngi4

[mediocriT]

Multisig with other parties in foreign jurisdictions

[Dabs]

What are some places which are not likely to move or disappear no matter what happens in the world?

1. Certain monuments, maybe, but those are public.
2. Large trees in the forest, but those are still public.
3. Your great grand parents final resting place, semi public.
4. One or two houses you know the people who live there own, (best if relative).
5. An estate attorney you trust. (could also be any other profession, but attorneys know this as it is their business.)
6. Some secret hiding place that you need to scuba dive to, (like some ship wreck) buried in the see 50 meters deep.

[jonald_fyookball]

I believe it's in the following video which is also on his website.  Bitcoin Cryptocurrency Crash Course
This crash course is 1:12 long and I have no idea at what point he mentions it.  I'm only 99% certain this is the correct video.  This talk is from last summer in silicon valley.  Being it was from last year some things are a bit outdated like regulatory uncertainty which also led him to say he wouldn't recommend it as an investment.  Meanwhile he says that it was almost all his investment.  This was before the congressional meetings last year and the subsequent bubble.  I gave this video to a certified financial planner as part of an intro I made for him about btc.

http://www.youtube.com/watch?v=JP9-lAYngi4

dont get me wrong I love Andreas, but for some reason he looks
like a crazy vampire in that speech.

[Swordsoffreedom]

Seems like a good question but I would say that the best location is one that is easy to remember
(or a brainwallet but goodluck remembering it if its not a complex sequence might be less secure and you need to trust your memory for X years)  
Public locations seem the best but it would be hard to hide it there then claim it later so perhaps having a few copies in different locations would be best say a Cave, Near your old school, near a playground since those areas rarely get redeveloped etc.

[TTBit]

I thought about creating a service, like boomerang for gmail: Person signs a transaction from A->B, but doesn't broadcast it. My server will broadcast the transaction only if you don't check in for the last 30 days. If you get thrown in jail (or die), no one would suspect that transaction is yours.

[bitcats]

I thought about creating a service, like boomerang for gmail: Person signs a transaction from A->B, but doesn't broadcast it. My server will broadcast the transaction only if you don't check in for the last 30 days. If you get thrown in jail (or die), no one would suspect that transaction is yours.

  interesting idea.

[ShameOnYou]

Multisig paper wallet would be safest in my opinion. Then store multiple copies in separate safety deposit boxes

[bitsmichel]

They are all very easy methods I think, but not without danger of loss.
Summary of methods so far:

• multi sig paper wallet
• plain paper wallet/cold storage
• encrypted paper wallet
• cloud based storage service
• Private keys encrypted in the cloud, with a password you won't forget by a few years,
• memorize 64 hexadecimal chars, keep the private key in your brain.
• QR tattoo

[Beliathon]

Discuss.

Shall we discuss the fact that you're a racist asshole?