Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: discostu

That’s why you keep a copy of your Bitcoins on some type of external storage. Something as simple as a USB thumb drive is fine. You can spread copies to several devices for redundancy.

If someone steals a copy, they can’t so anything with them as they do not have the private keys (which hopefully you made sure you have somewhere safe in a separate location from the Bitcoins) for them.

I don’t have any Bitcoins either, I just find the tech fascinating.


17 posted on 03/06/2014 4:35:30 AM PST by Nonsense Unlimited
[ Post Reply | Private Reply | To 13 | View Replies ]


To: Nonsense Unlimited

External storage will protect against crash, but not theft because eventually you have to have a copy plugged into your computer and if you have wallet stealing malware it’s gone.

And keys only matter if that’s how you store them, for usage bitcoins are their own key. Which is part of why they’re so stealable. For all intents and purposed they’re the real version of movie bad guys’ favorite target German Bearer Bonds, only you can sell them in minutes.


18 posted on 03/06/2014 6:57:35 AM PST by discostu (I don't meme well.)
[ Post Reply | Private Reply | To 17 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson