The Bitcoin Thread

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Which would you guys recommend for cold storage? Trezor or Ledger Nano S?

The Ledger nano looks good and is a fair bit cheaper than the Trezor, but it all comes down to how well they work. I see the ledger handles quite a few coins too, I'm guessing that's standard though.
 
My only concern with these (if I chuck them in a safe and forget about them), will they still work in ten years time?

My flash drives always ends up crocking out in a years time.

Unless I'm missing something?
 
Voicy said:
Which would you guys recommend for cold storage? Trezor or Ledger Nano S?

The Ledger nano looks good and is a fair bit cheaper than the Trezor, but it all comes down to how well they work. I see the ledger handles quite a few coins too, I'm guessing that's standard though.
Click to expand...

I use the Ledger Nano S and it's great.
 
kab123 said:
My only concern with these (if I chuck them in a safe and forget about them), will they still work in ten years time?

My flash drives always ends up crocking out in a years time.

Unless I'm missing something?
Click to expand...

Flash storage doesn't like being unused for years, might be safer to print and laminate, or have a small sheet of aluminum imprinted with your keys in a QR code.
 
kab123 said:
My only concern with these (if I chuck them in a safe and forget about them), will they still work in ten years time?

My flash drives always ends up crocking out in a years time.

Unless I'm missing something?
Click to expand...

You can restore your wallet with the mnemonic passphrase (sequence of words) onto other hardware (or software) wallets. You need to protect the passphrase words more than the device, actually.

Which is kind of the point of the hardware wallet - you can carry that around with you securely because it is useless without the pin and/or passphrase. It's not intended that you keep the hardware wallet in a safe - it's the passphrase you have to secure.

If all you care about is storage, transfer your crypto to a software wallet that generates a BIP39 mnemonic passphrase, write it down and lock the passphrase away. If you're super paranoid, delete all traces of the software wallet. (Do a dry run with a small amount in a wallet, writing down the passphrase, deleting it all, then restoring back to a new wallet first to confirm that this all works and you understand the process).
 
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Thanks. I'll perhaps look into printing them out and storing them old school style like our toppies used to do with their thousands of naspers shares
 
kab123 said:
Thanks. I'll perhaps look into printing them out and storing them old school style like our toppies used to do with their thousands of naspers shares
Click to expand...

Don't print them out, that could leave traces on your PC. Write them the old fashioned way and verify that they work and you can read them by restoring them again.
 
garp said:
Don't print them out, that could leave traces on your PC. Write them the old fashioned way and verify that they work and you can read them by restoring them again.
Click to expand...
Ok so paper wallets? Which paper wallet is best? Are there any that support a number of different crypto?
 
Yeah I have seen a number of paper wallet "generators" online but they all seem a bit dodge. Pity the codes cannot be obtained directly for luno somehow
 
EDIT: nevermind, same advice about bitaddress.org as previous post.
 
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Looks like local exchange rates are quite inflated.

Coinbase is asking the equivalent of R159k per BTC if I pay in NOK.

The only thing that concerns me with buying BTC from a norwegian account is that if I want to cash out I'm going to get hammered with a 45% tax bill on any profits.
 
Voicy said:
The only thing that concerns me with buying BTC from a norwegian account is that if I want to cash out I'm going to get hammered with a 45% tax bill on any profits.
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Don't cash out in Norway then. You can't pay tax if you don't sell it. Take an extended holiday to Amsterdam and open a bank account with ABN AMRO bank. Transfer your BTC to an exchange in Holland and cash out. You can open an account with them if you're an expat/non-resident.
 
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I had my notifications set for more than R175k. Woke up at 5am to see that it triggered. Could see that the price on Luno needed to catch up so bought in for less than R176k and sold at R178k. Didn't want to risk holding for longer because if the USD price takes a couple hundred dollar tumble then it would start going the other way fast on Luno.
 
Zulfi said:
Voicy.. sell yet?
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If you want, sure. It's your money.

I just ordered a ledger nano s to take my coins off the exchange & lock them away for 3 years. Looking forward to buying a house cash. :p

Already at R179,899... i bought in 3 times this week at 160k'ish. Finally my luck/curse is changing.
 
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