Posted on 06/16/2024 3:10:58 PM PDT by E. Pluribus Unum
I would like to move some Bitcoin to cold storage, but the thought of doing it wrong and losing it forever scares the Obama out of me.
If you have done it, how did you do it, how do you store the wallet, and what is the possibility of messing it up and losing it forever?
Gronk even no that not real money
Is that English?
Or Martian?
Or just plain retard?
I can't tell.
—> It’s not coming back.
The electric system will come back on.
The decentralized Bitcoin ledger will be waiting.. millions of copies worldwide
Simple as that.
Use a hardware wallet like a Ledger Nano X.
https://www.ledger.com/
EMP - multiple bursts.
Welcome to the stone age.
Quite simple. I use a trezor wallet. Now you have to download the Trezor software to access it. Once you have it you connect your wallet and set it up.Make sure you write down your recovery words. Then you go into your wallet and choose to deposit Bitcoin. You copy the deposit address to memory on your computer. Make note of the network that is associated with this address.Then go to the site where you have your Bitcoin and go to where it says to withdraw Bitcoin. Now paste your address in the withdrawl address area. Now hgd next part is EXTREMELY important. You may have a choice of what network to use. Make sure it matches the one you chose from your Trezor program.if not ho back to the Trezor program, change networks and get a new address . If you don’t have the same networks, you will lose your money.if everything matches, click send or withdraw to send your money. Now Bitcoin fees are extremely bhigh right now fo it may vost you about 20 to 30 dollars to send it.
Thanks.
Do the fees ever go down?
Do you sincerely believe there will be EMP blasts around the world?
In both hemispheres?
Affecting all continents?
That the entirety of earth will be without electricity?
Because that is what it will take.
And if that day comes, we will face worse problems than the financial system going down.
It depends on the demand. Also it depends on your site where you are sending. If you are sending from trezor you have 5 options to send from extremely bfadt to slow. Extremely fast you will get it sent in about 5 minutes. Extremely slow may take up to a week. Of course the fees for extremely slow are cheap compared to fast. When the block comes to the miners they are going to choose the one that offers the highest fee. When there is a lot of Bitcoin transactions, a smaller fee won’t get chosen.Now you site may only send it at one fee rate. If the fee seems to high, check back again at another time of the day. Sundays are usually low demand days
If you’re paying attention to where we’re going, you’ll know of what I’m talking about.
I thought about putting some of my silver into cold storage but decided that it would take up too much space in my refrigerator.
also if your cold wallet gives you the option of choosing the type of bitcoin address, choose Bech32 (sometimes called native SegWit).It starts with bc1.This is generally cheaper to send. Plus it has a checksum so it can catch typos. Now when copying and pasting always check the first 4 and last 4 digits of the copied address to the pasted address to make sure they match and nothing was cut off or added in the pasted address.
Opps posted it to myself by accident.
Also if your cold wallet gives you the option of choosing the type of bitcoin address, choose Bech32 (sometimes called native SegWit).It starts with bc1.This is generally cheaper to send. Plus it has a checksum so it can catch typos. Now when copying and pasting always check the first 4 and last 4 digits of the copied address to the pasted address to make sure they match and nothing was cut off or added in the pasted address.
Even though transferring it scares the Obama out of you, leaving it on an exchange should scare the Biden out of you. This regime is so anti crypto I wouldn’t put it past them to ban all access to crypto exchanges for US citizens in the near future
I used to copy the javascript from bitaddress.org and run it with my computer disconnected from the internet. Well, that's what I used to do anyway, but this guy says no don't: https://bitcoin.stackexchange.com/questions/22115/how-to-download-bitaddress-org-to-use-offline So what would I do now? Same thing, paper wallet using the bitaddress.org javascript code on a disconnected computer. Transact the bitcoin from whatever app you have on your phone to the QR address on the paper wallet. Put the paper in the safe.
Thanks. For some reason paper seems safer to me.
Thanks.
If you truly mean “cold” storage (not many or no transactions needed on your BTC) then it can be as simple as recording your 12 or 24 word “seed phrase” somewhere safe (S.D. box, “Bear Ball” buried in the back yard, etc.)...most suggest stainless steel as the medium to record your private key seed words (fire/rust proof vs. paper, etc.).
https://www.amazon.com/Billfodl-Private-Key-Backup/dp/B07BS632RR
“Bear Ball” cache: https://www.amazon.com/dp/B0002ZB5Y8
If easy BTC transaction ability is needed then a ColdCard (Bitcoin only), Ledger, Trezor, Blockstream Jade or similar is the way to go:
Etc: https://coindoo.com/best-crypto-cold-wallet/
Your 12 or 24 seed word phrase will restore your BTC to any wallet, cold or “online”/smartphone wallet later if needed.
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