Quote from: ycagel on September 14, 2014, 02:20:00 PM

Did some more research and it seems to be called deep cold storage:

Quote

Deep cold storage refers to keeping a reserve of Bitcoins offline, using a method that makes retrieving coins from storage significantly more difficult than sending them there. This could be done for safety's sake, such as to prevent theft or robbery.

Because Bitcoins can be sent to a wallet by anyone knowing the wallet address, it is trivial to put a wallet in cold storage but to keep a copy of the addresses needed to send funds to it.

A simple example of deep cold storage is opening a safe deposit box and putting a USB stick containing an encrypted wallet file in it. The public (sending) addresses can be used any time to send additional bitcoins to the wallet, but spending the bitcoins would require physical access to the box (in addition to knowledge of the encryption password).

Deep cold storage would typically be used for holding large amounts of bitcoins, or for a trustee holding bitcoins on behalf of others. In such a case, additional precautions should be taken beyond a simple example of a single safe deposit box.

The box could be accessed by bank or maintenance personnel, so the contents of the box alone should not be sufficient to access the wallet.
The box could be stolen or destroyed in a disaster, or the media could become unreadable, so the box should not contain the only copy of the wallet.
The trustee could die or become incapacitated. If access to the wallet or knowledge of its location is lost, or encryption passwords are lost, the bitcoins are gone forever. Provisions should be made so that the box can be accessed by someone else as appropriate, including any encryption passwords.

Source: https://en.bitcoin.it/wiki/Cold_storage

Quote from: ycagel on September 14, 2014, 02:10:32 PM

A few more notes:

1.Mintpal support finally got back to me and they said there is an error with the quantity of DGB being sent to a physical wallet. They cancelled and I did a smaller test and it worked. When I reverted back to the original transaction, it hung again. I also asked them to restart and reindex their wallet, so just something for folks to think about when trading with their platform.

2.I have thinking about various ways for folks to protect their interest in DGB. I have heard of everything from dumping keys, paper wallets and even cold storage. In regards to cold storage, can someone explain the process and how the liquidity flow works if you are looking to "connect" back to the Internet and sell, trade, etc? I particularly use Coinbase, which is the only option at this point. Like to understand more how this process works.

Thanks to everyone. Keep up the momentum and great work. Can't do it without you folks as you are leading us to the final destination for DGB!

YC

I'm not sure its quite required just yet. I'd say writing it to a usb is safe enough, the data is supposed to outlast you if you don't use it too often. Not quite as safe as a safety deposit, but a whole lot cheaper.