(06-22-2015 03:38 PM)BBinger Wrote:  

(06-22-2015 02:16 PM)Ray Carlton Wrote:  Thank you for your input.

What would you recommend for storing the bitcoin? I am not into day trading, so I am looking for a save storage solution for the long-term.

Ray

Generate a wallet on an offline computer and keep the private keys safe. Bitcoin-qt is probably fine (But not bitcoin-core) the light Electrum client also does offline wallets rather well. You just have to remember that when electrum retrieves your transaction history from a server it shares a bunch of addresses connected to you so if you want to use electrum with some privacy you will have to set up your own electrum server.

Thank you for your response. That would mean I need another computer, however I try to live a life without too much "unnecessary" stuff.

What do you think about the Ledger Wallet Nano

For me as a beginner, this looks like a pretty secure solution. The biggest risk might be that it is relatively easy to lose and according to reviews it could be hacked quite easily when the computer is infected with malware.

But it looks at least like a saver way than storing the BTC online, directly on the everyday computer, or on the smartphone.

Thanks
Ray

(06-22-2015 02:16 PM)Ray Carlton Wrote:  Thank you for your input.

What would you recommend for storing the bitcoin? I am not into day trading, so I am looking for a save storage solution for the long-term.

Ray

blockchain.info using a strong password.

edit; or make a paper wallet. no need to buy some security card.

(06-23-2015 04:06 PM)Satoshi Wrote:  

(06-22-2015 02:16 PM)Ray Carlton Wrote:  Thank you for your input.

What would you recommend for storing the bitcoin? I am not into day trading, so I am looking for a save storage solution for the long-term.

Ray

blockchain.info using a strong password.

And 2 factor authhentication.

(06-23-2015 03:49 PM)Ray Carlton Wrote:  

(06-22-2015 03:38 PM)BBinger Wrote:  

(06-22-2015 02:16 PM)Ray Carlton Wrote:  Thank you for your input.

What would you recommend for storing the bitcoin? I am not into day trading, so I am looking for a save storage solution for the long-term.

Ray

Generate a wallet on an offline computer and keep the private keys safe. Bitcoin-qt is probably fine (But not bitcoin-core) the light Electrum client also does offline wallets rather well. You just have to remember that when electrum retrieves your transaction history from a server it shares a bunch of addresses connected to you so if you want to use electrum with some privacy you will have to set up your own electrum server.

Thank you for your response. That would mean I need another computer, however I try to live a life without too much "unnecessary" stuff.

What do you think about the Ledger Wallet Nano

For me as a beginner, this looks like a pretty secure solution. The biggest risk might be that it is relatively easy to lose and according to reviews it could be hacked quite easily when the computer is infected with malware.

But it looks at least like a saver way than storing the BTC online, directly on the everyday computer, or on the smartphone.

Thanks
Ray

I'm not a fan Ledger Wallet or any of the other current hardware wallets. The Trezor has issues and the Mycellium entropy is one of the worst efforts in this area.

Used netbooks or used smaller Thinkpads can make great offline machines and they are easy to tuck out of sight when you aren't using them which can be valuable if you want to avoid the temptation to spend. I lean towards the Thinkpads because even for the rather old ones there's almost always new manufacture parts of good quality available. From there you can back up the private keys on paper, thumbdrives, or however you feel safe doing so.

This article kind of explains the idea behind airgapping a computer and the more paranoid directions you can take it.

(06-23-2015 04:06 PM)Satoshi Wrote:  blockchain.info using a strong password.

edit; or make a paper wallet. no need to buy some security card.

Blockchain.info has had multiple incidents recently where they leaked private key material and user funds were lost. There is absolutely no reason to trust the current crop of people running Blockchain.info as they make some of the worst possible choices in the parts of their code that handle crypto operations.

(06-23-2015 07:25 PM)BBinger Wrote:  

(06-23-2015 03:49 PM)Ray Carlton Wrote:  

(06-22-2015 03:38 PM)BBinger Wrote:  

(06-22-2015 02:16 PM)Ray Carlton Wrote:  Thank you for your input.

What would you recommend for storing the bitcoin? I am not into day trading, so I am looking for a save storage solution for the long-term.

Ray

Generate a wallet on an offline computer and keep the private keys safe. Bitcoin-qt is probably fine (But not bitcoin-core) the light Electrum client also does offline wallets rather well. You just have to remember that when electrum retrieves your transaction history from a server it shares a bunch of addresses connected to you so if you want to use electrum with some privacy you will have to set up your own electrum server.

Thank you for your response. That would mean I need another computer, however I try to live a life without too much "unnecessary" stuff.

What do you think about the Ledger Wallet Nano

For me as a beginner, this looks like a pretty secure solution. The biggest risk might be that it is relatively easy to lose and according to reviews it could be hacked quite easily when the computer is infected with malware.

But it looks at least like a saver way than storing the BTC online, directly on the everyday computer, or on the smartphone.

Thanks
Ray

I'm not a fan Ledger Wallet or any of the other current hardware wallets. The Trezor has issues and the Mycellium entropy is one of the worst efforts in this area.

Used netbooks or used smaller Thinkpads can make great offline machines and they are easy to tuck out of sight when you aren't using them which can be valuable if you want to avoid the temptation to spend. I lean towards the Thinkpads because even for the rather old ones there's almost always new manufacture parts of good quality available. From there you can back up the private keys on paper, thumbdrives, or however you feel safe doing so.

This article kind of explains the idea behind airgapping a computer and the more paranoid directions you can take it.

(06-23-2015 04:06 PM)Satoshi Wrote:  blockchain.info using a strong password.

edit; or make a paper wallet. no need to buy some security card.

Blockchain.info has had multiple incidents recently where they leaked private key material and user funds were lost. There is absolutely no reason to trust the current crop of people running Blockchain.info as they make some of the worst possible choices in the parts of their code that handle crypto operations.

Each of us considers his own risk tolerance, and the extent to which he may want to keep his assets secure (and considerations regarding from who he wants to keep them secure, whether that be bad actor hackers, individual rogues, central server controllers and/or governments).

Personally, I feel that I do NOT understand bitcoin enough or even trust my own systems enough in order to feel that I would be more secure with some kind of paper (off line storage solution).

I have well over 100 BTC, and I have them stored in various on-line cloud-like locations. I store some coins on Coinbase, Circle, BTC-e and Blockchain.info. I can access those coins from anywhere in the world... though probably, I am NOT going to need access to all of them from all over the world, but at this point, it seems possible, and I can quickly transfer between those accounts, if I need to.

My favorite wallet is Armory, but it can be difficult to set up for first-timers. You can have an "offline" wallet set up on a Raspberry Pi (no need to buy another computer, ~$30), and set up a "Watching"-only wallet on your main computer. So, on your main comp, you can view your balances, but if you ever need to make a transaction, you sign it on the offline device (raspberry pi); private keys never leave the offline device (you can disable networking, and just never plug in an ethernet cord into it). Finally, for even more advanced usage, you can set up "lockboxes" or multi-signature addresses, for added protection. With multi-signature addresses, you need to sign from more than one device, so you don't have a central point of failure. So god forbid one device gets hijacked, unless both (or more) devices get hijacked, or if it gets destroyed in a fire and you lost your back-up, you're safe.

By the way, Blockchain is great for first-timers, but to be honest, I don't completely trust them and have reason to believe that Blockchain admins actually have ways to retrieve your private keys, which is not what they advertise.

By the way, has anyone seen the BTC/RUB rate on BTC-E? It's significantly lower:


Only problem is how do I get rubles to BTC-E?

(06-28-2015 04:01 PM)yolo Wrote:  My favorite wallet is Armory, but it can be difficult to set up for first-timers. You can have an "offline" wallet set up on a Raspberry Pi (no need to buy another computer, ~$30), and set up a "Watching"-only wallet on your main computer. So, on your main comp, you can view your balances, but if you ever need to make a transaction, you sign it on the offline device (raspberry pi); private keys never leave the offline device (you can disable networking, and just never plug in an ethernet cord into it). Finally, for even more advanced usage, you can set up "lockboxes" or multi-signature addresses, for added protection. With multi-signature addresses, you need to sign from more than one device, so you don't have a central point of failure. So god forbid one device gets hijacked, unless both (or more) devices get hijacked, or if it gets destroyed in a fire and you lost your back-up, you're safe.

By the way, Blockchain is great for first-timers, but to be honest, I don't completely trust them and have reason to believe that Blockchain admins actually have ways to retrieve your private keys, which is not what they advertise.

By the way, has anyone seen the BTC/RUB rate on BTC-E? It's significantly lower:
http://i.imgur.com/I2maLwa.png[/img]

Only problem is how do I get rubles to BTC-E?

you do NOT need to get rubles to BTC-E in order to take advantage of exchanging or holding various currencies on BTC-E... once you transfer BTC into BTC-E, you can make various exchanges in all of the available currencies on BTC-E, including trading rubles.

It depends on what price (priced in Rubles) you sell your btc at on btc-e.

(06-28-2015 09:22 PM)yolo Wrote:  It depends on what price (priced in Rubles) you sell your btc at on btc-e.

I guess my point is that once your on BTC-e, then you can trade whatever, you want in terms of the various currencies and alt-currencies that they have...

getting on and off BTC-e is another story... because the value of BTC on BTC-E will vary and frequently be lower than other exchanges.

But nonetheless, I believe that I had attempted to address the initial point that you seemed to had made, and that was to be able to trade the fluctuations in the ruble's price... which is completely doable on BTC-e ...

First of all you would send BTC to BTC-e and then keep them there for however, long you want to trade in ruble... and then at some later point, when you want to get your money off of BTC-e, then you move out the BTC to some other location and cash out or store them or whatever you do with your BTC. My point is that you can move BTC fairly easy... and move value onto BTC-e for nearly free by moving that value through BTC.. then you can move the btc off of the BTC-e exchange at some point at your convenience and into whatever other BTC accounts that you may have.

Trollbox getting back up to speed..

(06-23-2015 07:25 PM)BBinger Wrote:  Blockchain.info has had multiple incidents recently where they leaked private key material and user funds were lost. There is absolutely no reason to trust the current crop of people running Blockchain.info as they make some of the worst possible choices in the parts of their code that handle crypto operations.

As far as I know they've handled every incident very well. If I'm wrong and bitcoins indeed have been lost, please correct me.

I watched one of Joe Rogan's podcasts with Andreas Antonopolous. At the time, Andreas was the Chief Security Officer at Blockchain. At the podcast, on of Joe's guys said he forgot his password. Andreas told the guy to e-mail blockchain and they'd be able to retrieve it for him. Maybe I misunderstood, but I was under the impression that Block chain was not supposed to have the means to retrieve the passwords, so it made me really wonder.

(06-29-2015 07:51 PM)Satoshi Wrote:  

(06-23-2015 07:25 PM)BBinger Wrote:  Blockchain.info has had multiple incidents recently where they leaked private key material and user funds were lost. There is absolutely no reason to trust the current crop of people running Blockchain.info as they make some of the worst possible choices in the parts of their code that handle crypto operations.

As far as I know they've handled every incident very well. If I'm wrong and bitcoins indeed have been lost, please correct me.

In this instance they covered the loss completely, as they have so far for most of their more public fuckups. But covering these costs for their mistakes isn't going to be sustainable indefinitely. Especially not it they keep making this severity of mistake.

Using random.org for entropy going into any cryptographic operation (because random.org as an entropy source isn't very secret, unique, or private) is beyond negligent. Blockchain.info has slowly been going to shit since piuk got out and Andreas passed through.

This isn't btc but it is investment related and would also affect btc prices indirectly through appreciation and depreciations of currencies. Also I didn't know where to post or ask this.

I don't follow the stock market or currency prices very closely, but the situation with Greece on the verge of getting kicked out of the Euro got me interested.

My prediction is that this uncertainty is going to cause the euro to depreciate over a certain amount of time, not sure how long depending on how the situation is resolved. And then it is going to bounce back. This is a pretty good investment opportunity if you buyin at the right time. I was interested in what others think about this?

(06-30-2015 11:31 AM)Grind Wrote:  This isn't btc but it is investment related and would also affect btc prices indirectly through appreciation and depreciations of currencies. Also I didn't know where to post or ask this.

I don't follow the stock market or currency prices very closely, but the situation with Greece on the verge of getting kicked out of the Euro got me interested.

My prediction is that this uncertainty is going to cause the euro to depreciate over a certain amount of time, not sure how long depending on how the situation is resolved. And then it is going to bounce back. This is a pretty good investment opportunity if you buyin at the right time. I was interested in what others think about this?

There are lots of threads within RVF related to various kinds of investing, and you can conduct various searches and also once in quasi-relevant threads, look at the related threads at the bottom of the thread.

It seems that BTC prices can be very much related to and influenced by the stability of various currency prices. On an individual basis, if you have thousands or even millions of dollars and you are trying to preserve value while the government (and/or banks) are threatening taking and/or freezing your money or even that your money may be devalued by inflationary pressures, then BTC may be a very good option to achieve value preservation and portability and even some anonymity, depending on how you do it.

$300 per BTC is within sight......

And LTC has been taken for quite the ride in the recent month... up about 300% and then in the last few hours down about 25%, but the pump and dump of LTC is certainly NOT over.

(07-10-2015 05:15 AM)JayJuanGee Wrote:  $300 per BTC is within sight......

And LTC has been taken for quite the ride in the recent month... up about 300% and then in the last few hours down about 25%, but the pump and dump of LTC is certainly NOT over.

Safe haven currency; mess in Europe has created a flight. If the Fed does raise rates, will be interesting to see what bitcoin does. Possibly a good buying time.

(07-10-2015 09:59 AM)SunW Wrote:  

(07-10-2015 05:15 AM)JayJuanGee Wrote:  $300 per BTC is within sight......

And LTC has been taken for quite the ride in the recent month... up about 300% and then in the last few hours down about 25%, but the pump and dump of LTC is certainly NOT over.

Safe haven currency; mess in Europe has created a flight. If the Fed does raise rates, will be interesting to see what bitcoin does. Possibly a good buying time.

Yes....

It seems like we are revving up for some action in the crypto-currency world in the near future.... that may be a contrast to the last 18 months of down falls in the prices of such crypto-currencies.

Does anyone here know a good site where I can buy a considerable amount of BTC using my debit card?

Most of the sites I have been using have requested lengthy identity verification, which is fine, but then they hit me with a withdrawal limit.

(07-10-2015 10:15 AM)Il Bersagliere Wrote:  Does anyone here know a good site where I can buy a considerable amount of BTC using my debit card?

Most of the sites I have been using have requested lengthy identity verification, which is fine, but then they hit me with a withdrawal limit.

What sources are you using Bersagliere, and what are the specific limits that you are facing?

I have personally only bought through Circle, Coinbase and Localbitcoins.

Currently, my circle account allows me to buy $1000 a week by credit card and $2500 a week through my bank.

Coinbase allows me $1000 per week instant buy, but $50,000 per day that is NOT instant buy (meaning that I would buy them at a locked in price, and have delivery within 4-5 business days).

Localbitcoin does not have a limit, but the various sellers have limits depending on which one.


There are probably some other ways to get bitcoins that I have NOT attempted because I find the combination of my sources to be more than sufficient for me.... You may or may not have access to these sources.

(07-10-2015 10:24 AM)JayJuanGee Wrote:  

(07-10-2015 10:15 AM)Il Bersagliere Wrote:  Does anyone here know a good site where I can buy a considerable amount of BTC using my debit card?

Most of the sites I have been using have requested lengthy identity verification, which is fine, but then they hit me with a withdrawal limit.

What sources are you using Bersagliere, and what are the specific limits that you are facing?

I have personally only bought through Circle, Coinbase and Localbitcoins.

Currently, my circle account allows me to buy $1000 a week by credit card and $2500 a week through my bank.

Coinbase allows me $1000 per week instant buy, but $50,000 per day that is NOT instant buy (meaning that I would buy them at a locked in price, and have delivery within 4-5 business days).

Localbitcoin does not have a limit, but the various sellers have limits depending on which one.


There are probably some other ways to get bitcoins that I have NOT attempted because I find the combination of my sources to be more than sufficient for me.... You may or may not have access to these sources.

I have tried cex.io, coinbase, coin.mx and circle.

Cex has lengthy verification processes. Coinbase makes you add a bank, which takes a few days, and coin.mx has a lifetime withdrawal of about $500. Circle seems great and has low fees, but I just signed up and have a $100 limit per week. I have not heard of localbitcoins. I am trying that this instant.

I really hate all these restrictions. Defeats the purpose of crypto-currency.

(07-10-2015 10:30 AM)Il Bersagliere Wrote:  

(07-10-2015 10:24 AM)JayJuanGee Wrote:  

(07-10-2015 10:15 AM)Il Bersagliere Wrote:  Does anyone here know a good site where I can buy a considerable amount of BTC using my debit card?

Most of the sites I have been using have requested lengthy identity verification, which is fine, but then they hit me with a withdrawal limit.

What sources are you using Bersagliere, and what are the specific limits that you are facing?

I have personally only bought through Circle, Coinbase and Localbitcoins.

Currently, my circle account allows me to buy $1000 a week by credit card and $2500 a week through my bank.

Coinbase allows me $1000 per week instant buy, but $50,000 per day that is NOT instant buy (meaning that I would buy them at a locked in price, and have delivery within 4-5 business days).

Localbitcoin does not have a limit, but the various sellers have limits depending on which one.


There are probably some other ways to get bitcoins that I have NOT attempted because I find the combination of my sources to be more than sufficient for me.... You may or may not have access to these sources.

I have tried cex.io, coinbase, coin.mx and circle.

Cex has lengthy verification processes. Coinbase makes you add a bank, which takes a few days, and coin.mx has a lifetime withdrawal of about $500. Circle seems great and has low fees, but I just signed up and have a $100 limit per week. I have not heard of localbitcoins. I am trying that this instant.

I really hate all these restrictions. Defeats the purpose of crypto-currency.

You are correct that in many instances there will be a verification process that takes several days, and then also in many instances there will be purchase and withdrawal limitations when the account is first established.

Some of the limits may go up after you have the account for several weeks/months.

You will find that localbitcoins is a site that merely allows individuals to hook-up for buying and selling bitcoins, and they have some safeguards in place that may allow the agreement to occur and forms of escrow if you do that online rather than physically meeting with the people.

You may also consider whether there are some bitcoin meet-ups in your area, and sometimes, you may be able to personally meet someone who you trust and then fees would be removed... so long as you were both agreeable to such. Probably, it is a bit difficult to meet people who are selling when you are buying and then buying when you are selling, but you never know, if you can find an active bitcoin meetup with a sufficient number of attendees, and then go to such bitcoin meetups, there are probably all sorts of possibilities regarding the attendees of such.

Curious, how much verification is required at BTC-e vs. Coinbase and Bitstamp. Bitstamp almost seems to want your blood type (if you're an American).

(07-10-2015 02:36 PM)SunW Wrote:  Curious, how much verification is required at BTC-e vs. Coinbase and Bitstamp. Bitstamp almost seems to want your blood type (if you're an American).

All these options are so inconvenient and a big hassle. I need instant transactions if I attach a financial to certain online services. I called coin.mx and they had the nerve to tell me that my btc transactions were anonymous. Get the fuck out of my face with that shit.

If they are collecting my information, they can track my transactions, simple as that. Wish they hadn't shut down Liberty Reserve. Or e-gold.

Coinbase needs just your bank, but the wait time takes too long. Unfortunately for me, certain merchants only take certain payment methods. And it's a hassle. At least the price is climbing.

(07-10-2015 02:36 PM)SunW Wrote:  Curious, how much verification is required at BTC-e vs. Coinbase and Bitstamp. Bitstamp almost seems to want your blood type (if you're an American).

I believe that BTC-e has been quite known for having little to no verification process, especially when it comes to transferring BTC in and out.

I remember setting up my account with them (about a year and a half ago) , and it was active almost immediately.

On the other hand, if a guy were to attempt to cash out fiat on BTC-e, that may be another story. I believe that their verification process would be more extensive, if dealing with cashing out fiat.

MOst other exchanges engage in know your customer (KYC) and anti-money laundering (AML) practices - especially when they are dealing with fiat.