
Bitcoin Paper Wallets (2015) - j_s
http://jrruethe.github.io/blog/2015/04/23/bitcoin-paper-wallets/
======
pmorici
A better way to store your coins is to to get a HD hardware wallet like the
Ledger Nano S, or KeepKey. These paper wallets are too vulnerable to
destruction. With an HD wallet you get a 24 word seed (see BIP39) and if
anything ever happens to the wallet you just buy a new one and restore from
the see. To protect your seed you can carve the words into a block of brass
which has a high enough melting point that it should survive a house fire. You
can use something like a Bantam Milling machine if you don't want to do it by
hand.

For smaller amounts of money there is also OpenDime. They don't provide a
back-up mechanism though so if the hardware goes your money is lost forever.

~~~
pavel_lishin
> _To protect your seed you can carve the words into a block of brass which
> has a high enough melting point that it should survive a house fire. You can
> use something like a Bantam Milling machine if you don 't want to do it by
> hand._

And people say that Bitcoin isn't user-friendly for beginners.

~~~
kobeya
It isn't. So what? Things will get better. And even if it doesn't, those who
really need bitcoin will be able to use it.

~~~
QAPereo
Who “really needs to use it,” in your estimation?

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kobeya
People whose freedoms are challenged by authorities they didn’t consent to.

~~~
QAPereo
...that would be at odds with the reality that much of these currencies are
hoarded.

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kobeya
Why?

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QAPereo
How is hoarding something like Bitcoin, or the world of ICOs anything like
oppressed people exercising freedoms?

~~~
kobeya
Whataboutism. If people is bitcoin for other things, fine. What matters is the
network is also available when and where it is needed.

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jiggunjer
I thought it would make a cool movie device if you encrypt your paper wallet
in a 2-of-3 method. Then store 2 parts in different safety deposit boxes in
different countries and carry the 3rd on you. The movie then revolves about
getting your cash while on the run from several governments.

I bet James Bond uses bitcoin.

~~~
Retric
It's less effort to just memorize a 256 bit private key.

~~~
AgentME
One neat thing about multisig keys physically spread is that it's extremely
more difficult to coerce someone to make a payment. If an attacker knows you
have a ton of money locked up behind a key you have memorized, they can kidnap
and torture you until you give them the key. If the money is locked behind
multiple keys physically spread and you're known to be the paranoid sort to do
that, then it becomes a lot more logistically challenging and may deter
kidnappers: some of the locations could have physical security (ie. it's in a
bank safe deposit box that the bank only allows the owner alone to physically
access), there's more chances for the victim to get away, the attackers can't
know ahead of time if the victim is leading them on a wild goose chase to
incorrect locations, etc.

~~~
sillysaurus3
This appeals to me in a way that's hard to articulate. It's the perfect
combination of "this will never happen" and "well now, let's not be too hasty
with our assumptions..."

~~~
AgentME
It makes me think of XKCD 538 and its alt-text
([https://xkcd.com/538/](https://xkcd.com/538/) \-- "Actual actual reality:
nobody cares about his secrets"). The part that alt-text didn't foresee was
that cryptocurrency would become a thing and that many people would store tons
of value in it.

I think anyone that got into Bitcoin early or has otherwise made it big in the
cryptocurrency scene ought to seriously investigate setting up their funds in
a way that they can't be quickly coerced into transferring it.

~~~
pls2halp
All this discussion of furiously encrypting bitcoin reminds me of another
xkcd: [https://www.xkcd.com/916/](https://www.xkcd.com/916/)

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pscarey
Why so much security focus on a non-internet connected PC, but so little focus
on needing a non-internet connected (ever) printer?

The printer is potentially an easier attack vector, and you've got to pass the
funds into an electronic wallet prior to spending, presumably on your PC or
phone, whilst an internet connection is enabled.

Seems writing the wallet info down with a pen, then doing your best to ensure
security when you have to use the wallet (e.g. live CD) is a better method?

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QML
I presume these paper wallets, like paper cash, are subjected to possible
erosion, water damage, or whatever happens during storage. Except with paper
cash, you have some party, the government, willing to exchange it for new
ones. What are the benefits of paper wallets over a hardware wallet or storing
it online?

Also, is it me or are people more paranoid with their Bitcoins than others
with their USDs?

~~~
DINKDINK
>What are the benefits of paper wallets over a hardware wallet?

Cost. Use cases: one could transact in a medium trust environment using paper
wallets passed around offline.

>What are the benefits of paper wallets over storing it online?

Limited attack surface.
[https://cryptoconsortium.org/standards/CCSS](https://cryptoconsortium.org/standards/CCSS)

~~~
maxerickson
How do you assign the trust level?

The ease in duplicating a wallet beforehand (or even having a computer setup
to dump it) points towards high trust for me.

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ryanmarsh
I bought some water proof inkjet paper for my paper wallets. I did a few test
runs under the kitchen sink. I don't know how this paper works but it's pretty
awesome.

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Myrmornis
Just create a file and put in in your google drive and don't lose access to
that. Encrypt it as long as you are sure you will be able to decrypt it. I bet
you that Google don't steal your bitcoins.

~~~
quickthrower2
The point of Bitcoin is trust nooone. But as you say encrypt it, if you do
this well Google can't steal the coins.

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voldemort1968
Neat! It's a lot like
[http://adamjgrant.github.io/bitcoinbills/](http://adamjgrant.github.io/bitcoinbills/)

