/biz/ - Business & Finance

[Anonymous No.16691332]

Why not a paper wallet thread, I used a paper wallet from bitaddress, however everyone made a big fuss over it being connected wifi straight from the website printed. I kept a few btc on it for over a year and never had an issue.

Has anyone had their btc stolen from a similar wallet?

[Anonymous No.16691348]

Never
I use paper wallets all the time
They're safe if you do it properly

[Anonymous No.16691381]

>>16691332
I've used them from bitcoin.coms paper wallet generator and never had an issue

[Anonymous No.16691420]

>>16691381

Scam.

[Anonymous No.16691436]

I only use paperwallets, made a stupid mistake early on in crypto and had coins stollen by virus. I have about 20 paper wallets I printed offline with bitaddress that I downloaded from github, printed over USB to printer. I'm still paranoid and created a little html file that hits an API and checks all their balances every time I refresh it just to check on them...

[Anonymous No.16691498]

>>16691381
Sage him

[Anonymous No.16691502]

>>16691436
Based

[Anonymous No.16691533]

How to?

[Anonymous No.16691535]

>>16691332
No never stolen but always wait for transactions to complete before depositing. transferred all of my wallet to another wallet then tried to deposit a small amount back to the wallet. Lost.

[Anonymous No.16691578]

Also, print off 2 copies, keep one in fireproof safe in basement, other in a safe deposit box incase of a disaster.

I have everything in BSV right now. Going to move to multisig wallets soon so if my house is broken into they only have 1 part of the key, will require 2/3 keys to do anything. Keep one in my house, 1 in safe deposit box, and 1 at my parents house.

^ as based as it gets.

[Anonymous No.16691594]

These were before HD wallets and don't have the functionality we're used to
Some people didn't know if you only sweep partial paper wallet the change goes to mining fee it's why there have been 10+ btc mining fees

Be careful and read in detail how these work

[Anonymous No.16691606]

>>16691332

There are two problems with doing what you did.

1. The website could have been compromised, or the wifi could have been compromised, or your computer could have been compromised. Any one of these, and your coins would be gone.

2. You can easily lose a sheet of paper.

I did something similar to what you did, except:

1. I downloaded the Bitaddress code off Github (and a couple of other places),
2. I put it on a Raspberry Pi,
3. I didn't connect the Pi to the internet and never will,
4. I generated my keys on the Pi,
5. I stored the generated keys in a Truecrypt file container with a strong password, and
6. I backed up that container in multiple locations on non-flash media, all kept offline.

It's possible someone could some day brute-force the password, if they stole my archival drives from where they're stored, and if they figured out which file among hundreds of thousands it is.

It's also possible that I downloaded fake bitaddress code and that someone even now is able to steal my coins. I know that one of the three separate copies I saved from various places differs from the other two-of-three. I don't know if it's just a different version or is actually hacked, say, to use a weak RNG. This has been a worry, but it's been five years now so I'm guessing I'm ok. But that's the only point of failure I left open -- by comparison you've left all your holes lubed up and presented at a biker rally.

[Anonymous No.16691621]

>>16691578
>tfw the bank and your parents' house burn down

[Anonymous No.16691686]

The most effective wallet is a multi sig give the keys to three of your friends or family. Generating wallet seed offline is trivial

[Anonymous No.16691733]

>>16691621
he doesn't know about steel wallets

[Anonymous No.16691813]

>>16691733
I was actually debating getting a little CNC (I do 3d printing) and making all my paper wallets carved into aluminum. Not really worth it right now though, and that doesn't protect against theft, just disaster. Having multi key split protects both.

[Anonymous No.16691823]

Also, I don't trust hardware wallets at all, Paper is still the king in long term storage, all other digital storage has a shelf life.

[Anonymous No.16691863]

>>16691813
>little CNC
why not buy a set of punch stamps for $15.99 instead?

[Anonymous No.16692009]

>>16691863
Because taht would be too smart for me. Never really looked into it and the idea didn't cross my mind. Thanks

[Anonymous No.16692010]

>>16691606
too much effort and still prone to risks as you say

ez way:
-eth smart contract
-send any eth/token to it
-can only withdraw to whitelisted addresses
-owner pkey can whitelist new addresses and takes 7 days to approve a new address (owner can cancel approvals)

-add 2-3 backup owners (fresh addresses) store them whereever you want, as long as you dont lose all of them you and you alone have access.

i just emailed myself one of the owners keys, i did put 0.1 eth in it so i can trigger new whitelists or add new owners in future (if that 0.1 eth goes then i just use another owner to add another owner).

i explained the last bit abit shit, but super simple you get what i mean, 100% secure

[Anonymous No.16692054]

>>16692010
But this implies shit coins, better off letting someone steal it

[Anonymous No.16692085]

>>16692054
yeah true sorry your btc doesnt support decentralized banking :/

[Anonymous No.16692103]

>>16691332
as long as you remember to set a change address and create the tx on an airgapped machine there’s no problem with paper wallets imo desu

[Anonymous No.16692351]

Ok let's say I literally went to the web site on Google chrome(connected to wifi for the entire time of generating), printed a few copies of the address and laminated it. Put the public key in my wallet and the private keys scattered across vermont to California, what are the odds someone can hack and take my btc?

[Anonymous No.16693192]

>>16691436
>created a little html file that hits an API and checks all their balances every time I refresh it just to check on them...
How?

[Anonymous No.16693215]

>>16691332
use bip38 wallets always! keep many copies at different locations! best secure redundancy you can get.

[Anonymous No.16693254]

How do you access the money on the paper wallet ?

[Anonymous No.16693274]

>>16691578

Tink Tink Tink Tink

Ahem

Premined shitcoin

[Anonymous No.16693297]

>>16693215
Hello bip38 wallet anon, can you post instructions again for making these?

[Anonymous No.16693393]

>>16693297
start a mint live linux on your computer prepare all your tools on the stick also (verify hash of everything obviously you can also review code changes and source if you are a coder).

once you generated your password encrypted wallets (print to virtual pdf printer) gather the bip38 private keys in a text file also.

print out the paper wallets in multiple copies secure them at multiple locations. after this boot the live os again do decryption/verify test for all of them, also you can back your password up using shamirs key sharing (in case you forget, die, inheritance etc...)

after this you prepare the documents to the key holders, do the dry test on the live os again once it's all ready to be distributed.

you also upload the text file to multiple cloud providers or say your gmail account store the pdf in multiple electronic copies etc... (always have secure redundancy!!)

then you start distributing the coins to your wallets... you can even make a practice run first with a little amount with importing and spending just don't reuse that wallet!

[Anonymous No.16693402]

>>16693297

- bip38 wallets with 20+ char passphrase takes over 900 quintillion years for the entire nicehash pool to make a dent on it (secure)
- generate a bunch of wallets from a mint booted live linux on an offline computer restart before going online (private)
- 0.1 btc per wallet for better exposure management when swiping also limits the entirely unlikely singular key collision fallout (divisible)
- multiple locations even if a car sized meteor hits one you are still okay (disaster proof)
- can use a professional trezor service (trustless)
- upload the private keys to a cloud service and one or more online service they are encrypted and nobody can even tall what the addresses are (unconfiscateable)
- it's practically costless unless you count paper and ink as cost and you can be anywhere on the world even on the run, you can access your funds. (free)