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I still don't see the detailed answers I'm looking for here. On a paper wallet? How do I generate that? How do I print it? Where should I store it? A boota

by blhack 9y ago

I still don't see the detailed answers I'm looking for here. On a paper wallet? How do I generate that? How do I print it? Where should I store it? A bootable Linux distro on an air gapped machine could solve the first one. An air gapped printer the second maybe. A cryptosteel the third. I THINK that will make a safe place to store multiple millions (or billions, or trillions) of $ worth of crytocurrency. I, unlike many others, don't want to make a $fortune dollar bet that I'm not going to make any sort of mistake (one I could have none about or not) when doing all of this stuff. I trust coinbase not to run off with my money just like I trust vanguard not to run off with my money. The AMAZING WORLDCHANGING but much less dramatic, incremental improvement that bitcoin offers me is that now I don't have to. That's a BIG deal. If my mom doesn't want to figure out what the hell an air gapped bootable Linux distro is, then coinbase is a fantastic solution for her.

nostrademons 9y ago
Like I said, "That people don't seem to want to do this is perhaps a lesson in human nature that crypto-anarchists and other aficionados of 'trustless completely-distributed systems' should perhaps heed." The people commenting in this sub-thread don't actually believe in the trustless utopia that initial Bitcoin aficionados did, we just have enough familiarity with the original Bitcoin technical paper to comment on the irony here. That may be why you're not seeing particularly compelling answers. "I trust coinbase not to run off with my money just like I trust vanguard not to run off with my money." As someone with both a CoinBase account and a Vanguard account...your money is much, much safer in Vanguard. And that's the irony. When Bitcoin was distributed, people could at least point to the lack of a centralized institution as an advantage. Now that it has centralized institutions, they're inferior to the centralized institutions in the mainstream financial world. And I certainly hope your mom isn't putting $10M into bitcoin on CoinBase. Regardless of security issues, that's a very good way to lose $10M. (On second thought, yes, yes, she should absolutely put her life savings into Bitcoin, so I can take the other side of the trade and sell into this bubble. ;-))

by blhack 9y ago

nostrademons 9y ago

Like I said, "That people don't seem to want to do this is perhaps a lesson in human nature that crypto-anarchists and other aficionados of 'trustless completely-distributed systems' should perhaps heed." The people commenting in this sub-thread don't actually believe in the trustless utopia that initial Bitcoin aficionados did, we just have enough familiarity with the original Bitcoin technical paper to comment on the irony here. That may be why you're not seeing particularly compelling answers. "I trust coinbase not to run off with my money just like I trust vanguard not to run off with my money." As someone with both a CoinBase account and a Vanguard account...your money is much, much safer in Vanguard. And that's the irony. When Bitcoin was distributed, people could at least point to the lack of a centralized institution as an advantage. Now that it has centralized institutions, they're inferior to the centralized institutions in the mainstream financial world. And I certainly hope your mom isn't putting $10M into bitcoin on CoinBase. Regardless of security issues, that's a very good way to lose $10M. (On second thought, yes, yes, she should absolutely put her life savings into Bitcoin, so I can take the other side of the trade and sell into this bubble. ;-))