Quote from: phillipsjk on November 07, 2014, 06:48:57 AM

Quote from: fdylstyx on November 07, 2014, 06:12:34 AM

Quote from: LiberyOrDeath on November 06, 2014, 06:28:26 AM

Well if your that paranoid use the paper wallet or brain wallet.

I searched the term brain wallet and all I got was this from LibertyOrDeath. Can someone explain how I can create one,
or several?

I expect a self coded encrypted personal phrase that only a head injury or dementia could erase is the
point?

If a little knowledge is dangerous, then even less is reason enough for paranoia.

Brian wallets are very risky because people hopelessly underestimate the entropy of their pass-phrase.

The most secure way to store Bitcoins is with paper wallets (or something longer lasting like nickel or stainless steel) generated off-line. You should either make two copies and store them in separate locations, or create a multi-signature script/transaction such you need m of n pieces to authorize the transaction (and store those in n locations).

I saw a comment up-thread the some measures such as this may be considered over-kill. Last year around this time the price of Bitcoin went up 1000% in a month or so. If the price of Bitcoin spikes to something like $400,000 per coin, suddenly "use an anti-virus" is going to start looking seriously inadequate for protecting your 5mBTC (now worth $2000).

Bitcoin is game-changing in that it now makes previously impractical attacks profitable. I believe it is only a matter of time before a major software vendor pushes a wallet stealer in a software update. The only way to keep your Bitcoin savings safe is to keep them away from your network-connected machine in the first place.

Thanks for the helpful reply phillipsjk. I'd read about inscribing in 2 pieces of metal and stashing them in different locals and that does seem to be likely the safest way. I don't intend on purchasing bitcoin until I know how best to protect them.

I'm inclined to use my BlackBerry to purchase locally but I feel that's just as bad as using my computer. I'm ready to pull the trigger and start accumulating but the more I read the more I'm confused about how not to get scammed between transacting with a temporary wallet to my paper or metal wallet.

A trusted link or two on how to best go about this would be greatly appreciated. I live in Canada and prefer to achieve anonymity, as far acquiring and holding is concerned.

Thanks in advance,

fdyl