Do you trust yourself to manage your own private keys?

[abyrnes81]

Well looking at all the currently available possibilities of storing them, yes. Trusting someone else with the keys makes Bitcoin somehow lose its point.
Actually if you don't own the private keys, you don't really own the Bitcoins on that address. I'm saying this because of the exchanges and online wallets. Keeping coins there is a bad idea, just as trusting someone with keys is.

Do you know there are a lot of people are keeping their bitcoins (or altcoins) on the various exchange? After crying because the exchange was hacked. This thread is very , very useless ( I think no one should trust another person to manage your private keys, that's broke all the bitcoin concept).

[1Referee]

I don't see why not. I'm doing it already with success and will continue doing so 

I already stopped leaving coins on exchanges just to avoid any kind of risk.

[Lauda]

Do you know there are a lot of people are keeping their bitcoins (or altcoins) on the various exchange? After crying because the exchange was hacked. This thread is very , very useless ( I think no one should trust another person to manage your private keys, that's broke all the bitcoin concept).

Well you're treating me as I were new to this. All I can say:"Been there, done that.". I've been actively exchanging a lot of currencies on multiple exchanges in the past. I guess people trust too much or think that the exchange is a unbreakable fortress of some sorts. Actually the exchange is like a wooden fence protecting your money. Even though security has been improving, we are not there yet. Not even near.
Like I've said myself, giving anyone your key is wrong and then Bitcoin has almost no meaning.
A person is intended to be his own bank by keeping his own private keys and funds secured.

[Amph]

obviously yes, bitcoin is born to make people like us , who like to be self-bank, more prominent

i' fly low, just 3 usb stick with wallet.dat as backup some on the exchange and the rest on the client, i'm still unsure if i should create others wallet...

If I where you, I'd create a paperwallet cyphered or not that I would copy in several places to store the coins I want to hodl for long time 

i find usb much confortable and faster to use, if you hold several of them there is no worry about, i don't find them inferior to papaer wallet at all

[jonald_fyookball]

I don't manage my private keys. I let electrum take care of those and I manage my own secret seed. Only 12 words to remember or to keep safe. An easy task for most bitcoiners.

that counts as managing your private keys in the context of this discussion.

[Beliathon]

If you can't trust your own judgement, you can't trust anyone else either. Same as if you can't love yourself, you can't love anyone else.

[soowein]

I don't believe anyone even myself. How to manage own private key ? Simply save it in the safest place

I think so !

[madmat]

I don't believe anyone even myself. How to manage own private key ? Simply save it in the safest place

I think so !

One place is not enough. This place could be destroyed. Two safe places are better. Your head could be one of this safe place.

[teukon]

One place is not enough. This place could be destroyed. Two safe places are better. Your head could be one of this safe place.

Wait.  So I should make a backup in case my head gets destroyed?

Hmm... It seems Bitcoin is riskier than I thought.

[madmat]

One place is not enough. This place could be destroyed. Two safe places are better. Your head could be one of this safe place.

Wait.  So I should make a backup in case my head gets destroyed?

Hmm... It seems Bitcoin is riskier than I thought.

You could forget your secret, if you don't have a backup and if your wallet is very big, you are going to destroy your head. 

[howzar]

Yes, it's not that hard to print out a piece of paper and keep it in the same spot for eternity...or is it 

I personally store mine on a .txt doc on a USB that I keep in a safe. For all of my savings anyway. The rest I keep on my QT client and store those private keys just on the desktop with my chump change in it and daily use coins.

[HarryPotHead]

You have to trust yourself because if you don't how could you possibly trust anyone else? I will always manage my own keys and funds and always will i do not trust anyone else..

[--Encrypted--]

I do, but I don't think trusting myself is enough.
I gave my best friend my private keys.. tho he have no earthly idea what it is.

[15Lemon714]

I do.
and not only myself either, I even gave my best friend my private keys.. tho he have no earthly idea what it is.

You never know he may learn and best friends can turn against you when a nice amount of money is involved, just saying. I hold my keys on a backed up usb and it is under the floor board so it is pretty safe in every situation except the 2 obvious that i won't mention.

[randy8777]

I do, but I don't think trusting myself is enough.
I gave my best friend my private keys.. tho he have no earthly idea what it is.

better ask him to delete your private keys now he still don't know what it is.
if he does know what it is and it has decent enough value, then your friend might not be much of a friend anymore.

[zetaray]

I think this thread has back fired for OP. Xapo did not think so many people would only trust themselves with their private keys. As far as I know, Xapo wallet do not give users their private keys.

[--Encrypted--]

I do, but I don't think trusting myself is enough.
I gave my best friend my private keys.. tho he have no earthly idea what it is.

better ask him to delete your private keys now he still don't know what it is.
if he does know what it is and it has decent enough value, then your friend might not be much of a friend anymore.

RANT MODE BEGIN 

no way I'm gonna to that, I got to trust someone and the only one I can trust in this wicked world is him.
not going to bore anyone with my life story, but the guy saved me on more that ten occasions.

oh, and more than half of people in my country doesn't even know what bitcoin are.
half the guys from the IT doesn't even know it. I live in a retarded country which blocks reddit, so yeah.

RANT MODE END 

[knightblaster]

It doesn't seem to make sense for people to store bitcoins with a third party.  It goes against the entire premise of bitcoin, which is peer-to-peer transactions without intermediaries like banks.  It makes much more sense to manage your own keys, according to the degree of security/paranoia you personally feel comfortable with, which probably varies a lot depending on how many bitcoins you actually have.

Bitcoin online banks (online wallets) are not regulated, may not have deposit insurance, and do not pay interest -- so they're fairly different from fiat banks, and present different kinds of risks for someone depositing their keys there. 

For the masses, I can see that people won't want to manage their own private keys -- it seems too techie for them.  That's not true, but the masses tend to go for the easiest solution.  I can see the masses, if they ever really do adopt bitcoin to a larger degree, gravitating towards online wallets due to the ease of use and similarity with existing online fiat banking.  But for people who are enthusiasts -- which pretty much describes most people holding bitcoin currently -- it doesn't seem to make sense to hold your coins in a bitcoin bank -- goes against the entire philosophy of the system.

[jonald_fyookball]

I do.
and not only myself either, I even gave my best friend my private keys.. tho he have no earthly idea what it is.

You never know he may learn and best friends can turn against you when a nice amount of money is involved, just saying. I hold my keys on a backed up usb and it is under the floor board so it is pretty safe in every situation except the 2 obvious that i won't mention.

he will find out soon.  unless he's a backwards redneck moron

[asuryan180]

I do, but I don't think trusting myself is enough.
I gave my best friend my private keys.. tho he have no earthly idea what it is.

better ask him to delete your private keys now he still don't know what it is.
if he does know what it is and it has decent enough value, then your friend might not be much of a friend anymore.

RANT MODE BEGIN 

no way I'm gonna to that, I got to trust someone and the only one I can trust in this wicked world is him.
not going to bore anyone with my life story, but the guy saved me on more that ten occasions.

oh, and more than half of people in my country doesn't even know what bitcoin are.
half the guys from the IT doesn't even know it. I live in a retarded country which blocks reddit, so yeah.

RANT MODE END 

Just because a large amount of people you personally know doesn't know about bitcoin that does not mean you live in a retarded country lol That just means from the people what you know do not know about it yet, not really a bad thing either. I like the fact that you can trust someone with your keys i would say it is better than trusting somebody you don't know with all your coin. I personally don't have anyone to trust like that so i will hold my own and have back ups of back ups and if i fail then i failed i only have myself to blame.