Should have check-boxes instead of radio buttons. Allow multiple choices rather than just one. I use multiple options for the HODL. But I also spend like crazy!!I'm curious what are the main ways people store their bitcoin hoards (in contrast to bitcoins for spending).
Oh good point. I thought maybe having a poll versus answering on an individual basis might make more people comfortable.I guess the people with large holdings are not going to tell you how they store their money. You should maybe rephrase how they would recommend to safely store coins and allow for multiple options.
I use mycelium for spending and Trezor for infrequent use. Of course I have made a backup of the seed key.
I would also be interested in whether people have a kick the can plan. What happens to their bitcoins if they die today? Who has access?
Or what happens when your house burns down and your computer and paper backup are destroyed?
Unfortunately answering these questions also opens up a risk for theft.
In that case do whatever method has the most bitcoins (hopefully it's not an equal amount each way).Should have check-boxes instead of radio buttons. Allow multiple choices rather than just one. I use multiple options for the HODL. But I also spend like crazy!!I'm curious what are the main ways people store their bitcoin hoards (in contrast to bitcoins for spending).
Wow that's a pretty good idea. Is there a way to use do timelocks easily with any of the wallets?The best solution that I can think of is the following:
Use Shamir's secret to generate an x of y secret that unlocks the funds of an empty address.
Keep your funds in some setup (Trezor, airgapped pc, whatever you prefer).
Whenever a transaction comes in, you would go to your offline system and create a time lock (now + 5 years or whatever you prefer) that sends the incoming funds to the empty wallet. Encrypt this transaction as to not expose the public key to the world just yet and send it to your trustees.
Now, if you die, your next of kin can access the funds once the time lock has expired. If you are still alive at that point you forward the funds to another address and create a new time lock transaction.
This stops people from colluding to steal your funds but allows access after death (or long term disability).
But it requires manual action each time you receive money or spend money.
We are actually covering the "Dead Man's Box" next week in our Bitcoin Meetup!! (at least I think that's what it's called)I would also be interested in whether people have a kick the can plan. What happens to their bitcoins if they die today? Who has access?
I keep it near the front door in a box clearly labeled CASH. Who doesn't?Where do you store cash at home?
What is cash?I keep it near the front door in a box clearly labeled CASH. Who doesn't?Where do you store cash at home?
yes, i would split funds always and use several methods.Some related questions - How much of your bitcoin hoard do you store in any one particular wallet solution? Is it better to split it up between hardware, software, online and paper wallets? How much is too much to store with any single solution?
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