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Loophole
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November 11, 2014, 05:11:38 PM |
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so if i make a paperwallet there? print it (and maybe put them in a word document which i safe on 2 usb's (one usb-card in my wallet, one at my home)) and I'm 100% safe?
A lot safer than keeping them on bitfinex with 2FA? :p
If you decide to save the paper wallet on USB, please encrypt it (either use BIP38 when creating the paper wallet, or use 7zip to encrypt the word file) so that you won't lose your bitcoin when you somehow lose your USB. Then your bitcoin is safe unless someone gets your wallet and at the same time brainwashes you to make you revealing the password.  Yup, it will be a lot safer than keeping them on exchange. |
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leen93 (OP)
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November 11, 2014, 05:55:16 PM |
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is that the same as Algorithm: SHA256(passphrase) ?
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TookDk
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November 11, 2014, 05:57:34 PM |
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Hi everyone,
Some time ago I bought 100 BTC (+70.000$), most of them I lose through hackers, mtgox, investing in HYIP, getting scammed by cloudbet... Now I have a bit less than 10 btc left (sadly worth nothing in compare to my initial investment). I'm used to keep them at exchanges like kraken and justcoin (which closed recently), then I discovered bitfinex and now I'm offering swaps there, hoping to maybe get back an extra bitcoin within a year. But I'm wondering how safe it is to keep my bitcoins there and offer swaps? I can make some profit there (and technically it should work as long as the owners don't run away or something went wrong on the website) but I'm also a bit affraid of losing everything. It also has some advantages, sometimes I really want to make some bets and recently I did it a lot bringing me from less than 3 to over 9 BTC. But that's mostly because of luck and maybe that could precent me losing my bitcoins that way because I never have access to my bitcoins immediately unless I change the autorenew settings in the website and wait for a few weeks. So what would be the best way to store my bitcoins? Going for the profit and let the bitcoins earn intrest on bitfinex or what do you think? My mail is safe now through 2FA if that would matter. If I deposit around 10 btc there I could earn around 2 mBTC every day by just offering swaps.
So much fail in terms of storing bitcoins  |
Cryptography is one of the few things you can truly trust.
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notlist3d
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November 11, 2014, 06:04:10 PM |
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Hi everyone,
Some time ago I bought 100 BTC (+70.000$), most of them I lose through hackers, mtgox, investing in HYIP, getting scammed by cloudbet... Now I have a bit less than 10 btc left (sadly worth nothing in compare to my initial investment). I'm used to keep them at exchanges like kraken and justcoin (which closed recently), then I discovered bitfinex and now I'm offering swaps there, hoping to maybe get back an extra bitcoin within a year. But I'm wondering how safe it is to keep my bitcoins there and offer swaps? I can make some profit there (and technically it should work as long as the owners don't run away or something went wrong on the website) but I'm also a bit affraid of losing everything. It also has some advantages, sometimes I really want to make some bets and recently I did it a lot bringing me from less than 3 to over 9 BTC. But that's mostly because of luck and maybe that could precent me losing my bitcoins that way because I never have access to my bitcoins immediately unless I change the autorenew settings in the website and wait for a few weeks. So what would be the best way to store my bitcoins? Going for the profit and let the bitcoins earn intrest on bitfinex or what do you think? My mail is safe now through 2FA if that would matter. If I deposit around 10 btc there I could earn around 2 mBTC every day by just offering swaps.
So much fail in terms of storing bitcoins He mentions mtgox I would guess he had quite a bit in there with a investment like that. Luckily I was not using that site at the time. A lot of people lost a lot of coins there. I did get sent a paper about the lawsuit in a foreign language though with having Mt. Gox. Still not sure why i got it, I did not use it many times. It's been a while back. |
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leen93 (OP)
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November 11, 2014, 06:14:43 PM |
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i tried to do bip38 but when i tried to load the wallet in blockchain it worked (at least it shows up between my other addresses there) but it says my passphrase is wrong which isnt
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leen93 (OP)
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November 11, 2014, 06:16:16 PM
Last edit: November 11, 2014, 06:28:52 PM by leen93 |
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i opened a wallet with bip38, then sended a bitcoin there, then loaded it in blockchain and then sended it to an exchange and it worked  is that the way I have to do it too if i want to sell my bitcoins in a few years? |
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leen93 (OP)
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November 11, 2014, 06:30:54 PM |
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and is it right that i can't check if i have acces to that address untill i load it in blockchain or a btcqt?
tomorrow all my bitcoins will come free and can put them all in a paper wallet then
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Loophole
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November 11, 2014, 06:41:41 PM |
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i opened a wallet with bip38, then sended a bitcoin there, then loaded it in blockchain and then sended it to an exchange and it worked is that the way I have to do it too if i want to sell my bitcoins in a few years? Congrats.  Yup. Please also note that a paper wallet is safe from hackers and malware because it is kept offline all the time. After you import your private key to blockchain.info or any other wallets, you shouldn't reuse it anymore as it has been online at some point. So if you want to sell just part of your bitcoin in the future, you should create a new paper wallet and send the unsold bitcoin to the new paper wallet. |
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TookDk
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November 11, 2014, 06:44:47 PM |
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and is it right that i can't check if i have acces to that address untill i load it in blockchain or a btcqt?
tomorrow all my bitcoins will come free and can put them all in a paper wallet then
I have found an old post I made, maybe you can use some of the info: I have done a lot of research on this topic; my solutions uses two Bitcoin-core clients and one paperwallet.
1. Bitcoin-core client running on my desktop-pc, this is my hotwallet, where I do all my in/out transactions to the "world". I never keep too many bitcoins here. Password is of cause strong.
2. Bitcoin-core client running on dedicated pc, this is my cold-storage, only use this PC if I have to move funds to my hot-wallet.
3. Paperwallet, printed out, stored away. Never touches this one. Only uses it for long time storage of funds I am certain that I don't need in the near future.
I have backup of all the wallets, located at two different locations.
I know that there is more secure ways to do this, but the more security you add the higher is the chance that you will not be able to access the funds your self.
The important thing for me, is that it reasonable safe and I trust the setup.
I also thing it is important not to "put all the eggs in one basket", thing it is important to divide your funds into different system/types. E.g. if my cold-storge is compromised it is unlikely that my paper wallet is compromised at the same time.
Never lost one single satoshi since I start using this setup. |
Cryptography is one of the few things you can truly trust.
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leen93 (OP)
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November 11, 2014, 06:53:30 PM |
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so if i understand it well i take a little risk everytime i want to sell my bitcoins or move them to wherever?
so it would be better to make 10 wallets each with 1 btc? so i can keep the 9 btc in paper wallet and take 1 out if i need them?
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leen93 (OP)
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November 11, 2014, 06:55:11 PM |
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btw, what is a strong password for bip38 ?
how long does it have to be to be safe?
is it best to just make a sentence in the smallest language I speak?
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leen93 (OP)
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November 11, 2014, 06:57:14 PM |
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and it's 100% sure www.bitaddress.org gives me the right private key and they don't keep it thereselves? if exchanges could betray me, they could do that too? and i wouldnt even know that untill i bring them somewhere online in the blockchain in a few years |
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seoincorporation
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Top Crypto Casino
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November 11, 2014, 06:58:26 PM |
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Hi everyone,
Some time ago I bought 100 BTC (+70.000$), most of them I lose through hackers, mtgox, investing in HYIP, getting scammed by cloudbet... Now I have a bit less than 10 btc left (sadly worth nothing in compare to my initial investment). I'm used to keep them at exchanges like kraken and justcoin (which closed recently), then I discovered bitfinex and now I'm offering swaps there, hoping to maybe get back an extra bitcoin within a year. But I'm wondering how safe it is to keep my bitcoins there and offer swaps? I can make some profit there (and technically it should work as long as the owners don't run away or something went wrong on the website) but I'm also a bit affraid of losing everything. It also has some advantages, sometimes I really want to make some bets and recently I did it a lot bringing me from less than 3 to over 9 BTC. But that's mostly because of luck and maybe that could precent me losing my bitcoins that way because I never have access to my bitcoins immediately unless I change the autorenew settings in the website and wait for a few weeks. So what would be the best way to store my bitcoins? Going for the profit and let the bitcoins earn intrest on bitfinex or what do you think? My mail is safe now through 2FA if that would matter. If I deposit around 10 btc there I could earn around 2 mBTC every day by just offering swaps.
Why you dont try gambling? I dont invest, at start i got free btc from gambling sites, and i have won more that 5 bitcoins in less that 1/2 year with zero invest. I keep my bitcoins safe on paper wallets, and i use a small bank roll for gambling. that is how it works fine for me. |
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leen93 (OP)
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November 11, 2014, 06:59:23 PM |
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and keeping them on blockchain with 2FA is not safe? I bought some extra btc with cash today and that's how that guy did it, and he had much more btc than i do |
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leen93 (OP)
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November 11, 2014, 07:00:21 PM |
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Hi everyone,
Some time ago I bought 100 BTC (+70.000$), most of them I lose through hackers, mtgox, investing in HYIP, getting scammed by cloudbet... Now I have a bit less than 10 btc left (sadly worth nothing in compare to my initial investment). I'm used to keep them at exchanges like kraken and justcoin (which closed recently), then I discovered bitfinex and now I'm offering swaps there, hoping to maybe get back an extra bitcoin within a year. But I'm wondering how safe it is to keep my bitcoins there and offer swaps? I can make some profit there (and technically it should work as long as the owners don't run away or something went wrong on the website) but I'm also a bit affraid of losing everything. It also has some advantages, sometimes I really want to make some bets and recently I did it a lot bringing me from less than 3 to over 9 BTC. But that's mostly because of luck and maybe that could precent me losing my bitcoins that way because I never have access to my bitcoins immediately unless I change the autorenew settings in the website and wait for a few weeks. So what would be the best way to store my bitcoins? Going for the profit and let the bitcoins earn intrest on bitfinex or what do you think? My mail is safe now through 2FA if that would matter. If I deposit around 10 btc there I could earn around 2 mBTC every day by just offering swaps.
Why you dont try gambling? I dont invest, at start i got free btc from gambling sites, and i have won more that 5 bitcoins in less that 1/2 year with zero invest. I keep my bitcoins safe on paper wallets, and i use a small bank roll for gambling. that is how it works fine for me. nope, lost enough on scam bet sites like cloudbet, never make any bet again |
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Loophole
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November 11, 2014, 07:12:53 PM |
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so if i understand it well i take a little risk everytime i want to sell my bitcoins or move them to wherever?
so it would be better to make 10 wallets each with 1 btc? so i can keep the 9 btc in paper wallet and take 1 out if i need them?
The risk is that after importing your private key to blockchain.info, it will no longer be offline as I said. So, your bitcoin will no longer be immune to hacking, phishing attacks, malware, etc. I don't see any problem to that. btw, what is a strong password for bip38 ?
how long does it have to be to be safe?
is it best to just make a sentence in the smallest language I speak?
It it better to be consisted of capital and small letters, numeric and special characters. The longer the password, the more unlikely it will get cracked but at the same time the more likely you will forget the password. |
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TookDk
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One coin to rule them all
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November 11, 2014, 07:13:47 PM |
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so if i understand it well i take a little risk everytime i want to sell my bitcoins or move them to wherever?
so it would be better to make 10 wallets each with 1 btc? so i can keep the 9 btc in paper wallet and take 1 out if i need them?
I have made a bunch 0.1 (with a offline bitaddress.org dump), when I need some coins to spend, then do I just scan the private key with mycilium - takes a few sec. and then is the coins ready to be spend. Works pretty well. For larger sums would I use the importprivkey command in bitcoin core. |
Cryptography is one of the few things you can truly trust.
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TookDk
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One coin to rule them all
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November 11, 2014, 07:15:55 PM |
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and it's 100% sure www.bitaddress.org gives me the right private key and they don't keep it thereselves? if exchanges could betray me, they could do that too? and i wouldnt even know that untill i bring them somewhere online in the blockchain in a few years I use it, but only offline. I have downloaded the page to an offline computer. But I do not use the build in random generator for generating private keys (I am uncertain about how much entropy it has, other words, I do not trust it 100%). So I throw a dice 100 times (To have a 100 digit base6 number) this will give me a truly random private key. (I use a fair dice bought in Las Vegas actually) In this way have my private keys never been "exposed" to the internet. |
Cryptography is one of the few things you can truly trust.
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Loophole
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November 11, 2014, 07:19:06 PM |
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and it's 100% sure www.bitaddress.org gives me the right private key and they don't keep it thereselves? if exchanges could betray me, they could do that too? and i wouldnt even know that untill i bring them somewhere online in the blockchain in a few years It is open source. You can check and download the code directly on github. https://github.com/pointbiz/bitaddress.orgI haven't checked the code myself, but from what I heard, no one has found any backdoor in the code since the project started in 2011. https://bitcointalk.org/index.php?topic=43496.0 |
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