Post
Topic
Board Beginners & Help
Re: Simplest way to stash bitcoin?
by
Lumpy
on 07/09/2012, 05:36:50 UTC
In your position I would consider looking at some of the long-term offers to deposit into. It means a bit of risk of course, but one could say having someone else look after it for you, is avoiding the risk you were actually worried about. Just stick to the low interest stuff.
https://bitcointalk.org/index.php?board=88.0

That is THE worst advice I've ever seen given in response to "how to stash my coins".  Giving your coins to someone else to hold has way more risk than printing out paper wallets or running from a LiveOS, etc.

Agree. What happens when the long-term offers, even "legitimate" ones, shut down? The Bitcoins have to go somewhere, hence you still have to have a receiving address. That's assuming the best--that is, that you actually get something back instead of nothing at all. With the high number of scams we're seeing, you'd be better off simply storing your coins. A paper wallet in a secure location is MUCH better than hoping a CD or flash drive will last as long as you need. A brainwallet with a secure passphrase is the best, but not everyone will be able to pick a secure passphrase and remember it for years.