Post
Topic
Board Exchanges
Re: I want to buy cashless bitcoin ATM for $1,000
by
raymetz100
on 08/08/2017, 14:34:26 UTC
If someone has their name on an empty envelope, hands it to me, I press the Litecoin Private key print button.  The printed side of the laser printer is face down.  I take the paper off the printer, folding the private key out of view without seeing it. I scan the public key only, place it in the envelope, seal it, an put it in the vault, then turn off the PK printer device with no local storage.  I'd be pretty sure there is no other copy of the private key.

If I print a keypair at home, put it in my own sealed envelope, take it to my private bank and place it in my safe deposit box, i'd also feel safe.

I personally have over 20 paper wallets in various coins and denominations, stored in vaults outside my home.  I've given them as graduation gifts, teasers that spurred people to learn and get their own coinbase account.  I've sold papers to family for $10 to $300 each.

I've worried about people losing the paper, or letting it be seen.  I've lectured them about it.  I've cashed many of mine as tests.  Before I knew how to create my own paper, I bought a keypair card from ebay, loaded it with what now is over $100 of bitcoin($15 then), gave it as a birthday gift, then later found out the seller stole the money I put on it, though the key foil was still unscratched.

Like Colt, Remmington, and gunpowder, I think Satoshi would be proud I'm actually using his invention, though it is more dangerous than using Chase, Bank of America, or the bow and arrow that came before.  We are reckless pioneers.