How can I acquire Bitcoin and store them safely ? - The ...

'What's wrong with my current cold storage method?' - an examination of potential weaknesses in the most common cold storage methods

Today we are going to discuss cold storage and some specific problems with cold storage. While this applies directly to the Secret Key portion of a key-pair; it also applies to the seed used to back up HD wallets and hardware wallets.
The best way to keep you seed/secret key safe is to have multiple copies in multiple locations perhaps with multiple formats and even better if the keys are split. However not everyone has access to multiple locations, or access to land long term, or more than one place to store their things. This is an examination of faults with individual methods; and not a comprehensive plan, obviously.
Not to say everything is all bad but there are many potential weakness out there, and some in the Bitcoin and crypto community like to know the edge cases of things.
I will also highlight some of the aspects of the Keyois Capsule which is a 'physical bitcoin'.
A physical Bitcoin is a cryptographic key pair, a physical key printed and affixed to what has always been before a coin. The first physical bitcoin coin was the Casascius coin, since then the world of physical bitcoin coins has blossomed as a fun part of the Bitcoin world.
We will focus on mediums relating to cold storage and not ones designed for more everyday use, but this applies to the seed you save to keep your everyday spending wallets safe and backed up.
We will assume you generated your keys securely and that you already have them on some medium. We will also have to ignore endpoint physical security because they can all be carried away the same. Remember your cell phone /hardware wallet/ computer client are only as good as where you put the backup seed phrase, which can be thought of as data much like the SK discussed below.
Written on a piece of paper
Printed on a piece of paper
On laminated paper
Engraved / etched/ ablated/ stamped on a piece of metal
Stored digitally on a computer
Stored digitally on CD, floppy disk, laserdisc, or mini-disc
Stored digitally on a flash drive
Backups are essential for digital data Computer code for performing operations can be corrupted in transfer or in operation. Special systems exist and procedures help data to last longer. For ideas, see this archive.gov page Remember to store in multiple locations. You can lose everything in single structure
A physical bitcoin coin
**What can solve most of these problems? A combination of good backup procedures and encryption. **
If you have permeant access to more than one location (people who live in big cities, without family or cars have a hard time with this) or have people you trust with your money (don't) then look into using some form of Multi-signature option.
The Keyois Capsule is a crypto piggy bank; it can be funded from the outside but you to break it open to get them out. You give me a BIP38 encrypted key pair (well the address not the public key) and I engrave it in this tamper evident and time resistant package. You still have to hold on to the pass phrase that allows you to decrypt it; that is however the same problem as all methods with BIP38 encryption. How to store this without having to trust anyone but still being assured of it's security?
  • Engraving, embossing, or stamping on a sheet of metal is one option; however the metals that are easiest to stamp are ones that melt in a house fire. They could be put in a glass jar that's filled with aerogel and buried. These is the best readily available option for most people but it really can be tedious. - This puts you back at anyone who can see it can steal it so dip in plastic dip, wrap in duct tape, bake in clay, encase in concrete, whatever just don't leave unencrypted keys visible!
  • The cryptosteel is another ready-made option
  • Have the words etched onto glass at home with off the shelf products; but be carful of this idea because the glass can shatter from impact and heat or even sudden temperature changes
  • Anodize the words yourself on a pieces of metal, there used to be a service to help use your home printer to print the words with some chemicals you can buy
  • Bake them in clay, then encase that in epoxy resin so it can't shatter. then paint the outside, in the future you can solvent the paint off and see the written seed
  • Use a combination of techniques to split the seed so that it is safe(because split and separated) and redundant (because backed up).
The most cost effective way for a 'normal' person (without their own land, without more than one location, and who cannot trust anyone else with their funds) to keep their backup seed/ secret key safe from damage from the elements would probably to buy a stamping kit and hammer and some stainless steel sheet or bar, Aluminium can be okay if you have the right alloy but better safe than sorry.
submitted by ProfBitcoin to Bitcoin [link] [comments]

'What is wrong with my current cold storage method' - an examination of potential weaknesses in the most common cold storage methods

Today we are going to discuss cold storage and some specific problems with cold storage. While this applies directly to the Secret Key portion of a key-pair; it also applies to the seed used to back up HD wallets and hardware wallets.
Not to say everything is all bad but there are many potential weakness out there, and some in the Bitcoin and crypto community like to know the edge cases of things.
I will also highlight some of the aspects of the Keyois Capsule which is a 'physical bitcoin'.
A physical Bitcoin is a cryptographic key pair, a physical key printed and affixed to what has always been before a coin. The first physical bitcoin coin was the Casascius coin, since then the world of physical bitcoin coins has blossomed as a fun part of the Bitcoin world.
We will focus on mediums relating to cold storage and not ones designed for more everyday use, but this applies to the seed you save to keep your everyday spending wallets safe and backed up.
We will assume you generated your keys securely and that you already have them on some medium. We will also have to ignore endpoint physical security because they can all be carried away the same. Remember your cell phone /hardware wallet/ computer client are only as good as where you put the backup seed phrase, which can be thought of as data much like the SK discussed below.
Written on a piece of paper
Printed on a piece of paper
On laminated paper
Engraved / etched/ ablated/ stamped on a piece of metal
Stored digitally on a computer
Stored digitally on CD, floppy disk, laserdisc, or mini-disc
Stored digitally on a flash drive
Backups are essential for digital data Computer code for performing operations can be corrupted in transfer or in operation. Special systems exist and procedures help data to last longer. For ideas, see this archive.gov page Remember to store in multiple locations. You can lose everything in single structure
A physical bitcoin coin
What can solve most of these problems? A combination of good backup procedures and encryption.
If you have permeant access to more than one location (people who live in big cities, without family or cars have a hard time with this) or have people you trust with your money (don't) then look into using some form of Multi-signature option.
The Keyois Capsule is a crypto piggy bank; it can be funded from the outside but you to break it open to get them out. You give me a BIP38 encrypted key pair (well the address not the public key) and I engrave it in this tamper evident and time resistant package. You still have to hold on to the pass phrase that allows you to decrypt it; that is however the same problem as all methods with BIP38 encryption. How to store this without having to trust anyone but still being assured of it's security?
  • Engraving, embossing, or stamping on a sheet of metal is one option; however the metals that are easiest to stamp are ones that melt in a house fire. They could be put in a glass jar that's filled with aerogel and buried. These is the best readily available option for most people but it really can be tedious.
  • The cryptosteel is another ready-made option
  • Have the words etched onto glass at home with off the shelf products; but be carful of this idea because the glass can shatter from impact and heat or even sudden temperature changes
  • Anodize the words yourself on a pieces of metal, there used to be a service to help use your home printer to print the words with some chemicals you can buy
  • Bake them in clay, then encase that in epoxy resin so it can't shatter. then paint the outside, in the future you can solvent the paint off and see the written seed
  • Use a combination of techniques to split the seed so that it is safe(because split and separated) and redundant (because backed up).
Characters stamped on Aluminium is probably the most cost effective way to keep a secret key or seed safe from fire and rot.
submitted by ProfBitcoin to btc [link] [comments]

[Serious] Is there any legal difference between a Casascius coin and a hardware wallet?

I am not sure that I see a legal difference between the Casascius coin and a hardware wallet like OpenDime.
If there a difference? Anyone know a lawyer that would be able to discuss this with me?
submitted by Semocratic_Docialist to Bitcoin [link] [comments]

What is wrong with my current cold storage method?

Today we are going to discuss cold storage and some specific problems with cold storage. While this applies directly to the Secret Key portion of a key-pair; it also applies to the seed used to back up HD wallets and hardware wallets.
The best way to keep you seed/secret key safe is to have multiple copies in multiple locations perhaps with multiple formats and even better if the keys are split. However not everyone has access to multiple locations, or access to land long term, or more than one place to store their things. This is an examination of faults with individual methods; and not a comprehensive plan, obviously.
Not to say everything is all bad but there are many potential weakness out there, and some in the Bitcoin and crypto community like to know the edge cases of things.
I will also highlight some of the aspects of the Keyois Capsule which is a 'physical bitcoin'.
A physical Bitcoin is a cryptographic key pair, a physical key printed and affixed to what has always been before a coin. The first physical bitcoin coin was the Casascius coin, since then the world of physical bitcoin coins has blossomed as a fun part of the Bitcoin world.
We will focus on mediums relating to cold storage and not ones designed for more everyday use, but this applies to the seed you save to keep your everyday spending wallets safe and backed up.
We will assume you generated your keys securely and that you already have them on some medium. We will also have to ignore endpoint physical security because they can all be carried away the same. Remember your cell phone /hardware wallet/ computer client are only as good as where you put the backup seed phrase, which can be thought of as data much like the SK discussed below.
Written on a piece of paper
Printed on a piece of paper
On laminated paper
Engraved / etched/ ablated/ stamped on a piece of metal
Stored digitally on a computer
Stored digitally on CD, floppy disk, laserdisc, or mini-disc
Stored digitally on a flash drive
Backups are essential for digital data Computer code for performing operations can be corrupted in transfer or in operation. Special systems exist and procedures help data to last longer. For ideas, see this archive.gov page Remember to store in multiple locations. You can lose everything in single structure
A physical bitcoin coin
**What can solve most of these problems? A combination of good backup procedures and encryption. **
If you have permeant access to more than one location (people who live in big cities, without family or cars have a hard time with this) or have people you trust with your money (don't) then look into using some form of Multi-signature option.
The Keyois Capsule is a crypto piggy bank; it can be funded from the outside but you to break it open to get them out. You give me a BIP38 encrypted key pair (well the address not the public key) and I engrave it in this tamper evident and time resistant package. You still have to hold on to the pass phrase that allows you to decrypt it; that is however the same problem as all methods with BIP38 encryption. How to store this without having to trust anyone but still being assured of it's security?
  • Engraving, embossing, or stamping on a sheet of metal is one option; however the metals that are easiest to stamp are ones that melt in a house fire. They could be put in a glass jar that's filled with aerogel and buried. These is the best readily available option for most people but it really can be tedious. - This puts you back at anyone who can see it can steal it so dip in plastic dip, wrap in duct tape, bake in clay, encase in concrete, whatever just don't leave unencrypted keys visible!
  • The cryptosteel is another ready-made option
  • Have the words etched onto glass at home with off the shelf products; but be carful of this idea because the glass can shatter from impact and heat or even sudden temperature changes
  • Anodize the words yourself on a pieces of metal, there used to be a service to help use your home printer to print the words with some chemicals you can buy
  • Bake them in clay, then encase that in epoxy resin so it can't shatter. then paint the outside, in the future you can solvent the paint off and see the written seed
  • Use a combination of techniques to split the seed so that it is safe(because split and separated) and redundant (because backed up).
The most cost effective way for a 'normal' person (without their own land, without more than one location, and who cannot trust anyone else with their funds) to keep their backup seed/ secret key safe from damage from the elements would probably to buy a stamping kit and hammer and some stainless steel sheet or bar, Aluminium can be okay if you have the right alloy but better safe than sorry.
submitted by ProfBitcoin to Keyois [link] [comments]

Bitcoins Erklärung: In nur 12 Min. Bitcoin verstehen ... Casascius Aluminium Physical Bitcoin Martin Garrix - YouTube TOR compromised by Javascript -- Casascius Coins Hacked -- Mt.Gox Status Update 2016 Satori

Hardware wallet — Bitcoin Wiki features a list from where hardware wallets could be purchased. Utmost safety requires the transaction to be pre signed offline and then transaction synced online. Der erste Ansatz für Technologie HD Wallet hat sich zu einem Dienstprogramm Casascius Bitcoin-Adresse. Es war beabsichtigt, Bitcoin Address von einem Teamschlag zu erzeugen. Änderungen an dem Bitcoin-Protokoll, das BIP 0032 genannt wird, werden jetzt in vielen Desktop-, Mobil- und Wallet-Geräten verwendet - TREZOR, Electrum, CarbonWallet und viele andere. Der Hauptschlüssel hier ist der ... Coins []. Physical wallets in coin form dates back to 2011, when Mike Caldwell started manufacturing of metallic Casascius coins which contained a Bitcoin private key under a security hologram.. After Casascius, other have begun their own production of coin formed Bitcoin wallets. A variety of security solutions to protect the private key is presented. A hardware wallet is a special type of bitcoin wallet which stores the user's private keys in a secure hardware device. They have major advantages over standard software wallets: private keys are often stored in a protected area of a microcontroller, and cannot be transferred out of the device in plaintext; immune to computer viruses that steal from software wallets ; can be used securely and ... Paper wallet is a document containing all of the data necessary to generate any number of Bitcoin private keys, forming a wallet of keys.However, people often use the term to mean any way of storing bitcoins offline as a physical document. This second definition also includes paper keys and redeemable codes.A paper key is a single key written on paper that is used multiple times like a wallet ...

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Bitcoins Erklärung: In nur 12 Min. Bitcoin verstehen ...

Wallets in cryptocurrency work in a weird way. They also have some weird properties like: they can be created offline and be used directly. Whut? Let's see h... Support Me On Patreon! https://www.patreon.com/TheModernInvestor ----- Protect And Sto... Bitcoin für Anfänger einfach erklärt! [auf Deutsch] Bitcoin-Börse (erhalte 10€ in BTC) https://finanzfluss.de/go/bitcoin-boerse *📱 Sicheres Bitcoin-Wallet... The First Physical Bitcoin Had a Typo and Was Worn as Jewelry - Stefan Thomas - Duration: 1:34. CoinDesk 523 views Martin Garrix has risen to global stardom in pop as well as electronic circles –and yet he’s far from being done. Dance music’s freshest talent has headlined...

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