Man all my threads get moved to Speculation... wtf
On another note... BTC is below $1000.... time to buy?
I currently have some BTCs in coinbase that I bought with my own money. Is it not secure? I still don't quite understand the concept of putting it in a "wallet" that resides in your harddrive.... I feel like that is more risky. What if the file accidentally gets deleted or my computer crashes?
You really need to learn the difference between paper wallets, cold software wallets, hot software wallets and online (web) wallets.
Try each in turn and perform some transactions from each with small amounts of bitcoin. Learn how to best secure and backup each of them.
Buying $1mn of bitcoins without knowing each of these important concepts in detail seems like a recipe for disaster.
Seconded... If you hold Bitcoins, you're working outside of the traditional banking systems, with all of their armed guards, massive safes, federal insurance, etc... Online exchange companies do not operate at the same level (yet). You need to understand how to replace all that missing stuff with sensible security before you transform that kind of cash into Bitcoin.
Read about Paper Wallets. Grab the
BitAddress.org paper wallet tool, and experiment with a small amount from your existing CoinBase account. Do try the BIP38 pass-phrase option. After all that, you can consider various ways to make a couple copies of your paper wallets, place them *securely*, or get a Bitcoin Firesafe, which is a metal version of a paper wallet.
Ok thanks for the links, I'm reading up on security right now
That's great chong hung, I don't really care what the fuck you think about me and whether you believe me or not
Well that's a good thing I suppose
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I'm jk, that sounded racist but i wasn't trying to be at all