Is anyone else starting to become a bit excited?

JJJJNR

Print them off laminate the sheet and put it somewhere you won't forget.

A good distributed exchange is fairly safe also.

stockshares

JJJJNR wrote: »

Print them off laminate the sheet and put it somewhere you won't forget.

You mightnt forget but what if your burgled.

What if you do forget. A life can be a long time.

What if you get sick and need to pass them on to a relative etc.

JJJJNR

Make a will and include that document in the deeds.

Might also be worth including a way to recover the funds..

machiavellianme

11k and climbing. Back to where I sold most last time and bought alts as was the trend at the time. Those alts are now down 90% on average but BTC is back. Should have HODL'd.

Bob24

stockshares wrote: »

You mightnt forget but what if your burgled.

What if you do forget. A life can be a long time.

What if you get sick and need to pass them on to a relative etc.

Also it can’t be in your house if you are also keeping the device in there -> a fire destroys the house and its content, and all your coins are gone.

JJJJNR

machiavellianme wrote: »

11k and climbing. Back to where I sold most last time and bought alts as was the trend at the time. Those alts are now down 90% on average but BTC is back. Should have HODL'd.

Alts will be back once the fomo hits, it's going to hit hard...

Follow the #altszn hash tag on Twitter.

Bob24

JJJJNR wrote: »

Make a will and include that document in the deeds.

Might also be worth including a way to recover the funds..

Remember that just having the words gives instant and anonymous access to the funds. In the scenario you mentioned, do you 100% trust that no one but yourself and the person you designated in your will will ever see the words?

JJJJNR

I thought I was paranoid.

stockshares

Bob24 wrote: »

Remember that just having the words gives instant and anonymous access to the funds. In the scenario you mentioned, do you 100% trust that no one but yourself and the person you designated in your will will ever see the words?

JJJJNR wrote: »

I thought I was paranoid.

I agree with him, would you trust a solicitor with your crypto

Bob24

stockshares wrote: »

I agree with him, would you trust a solicitor with your crypto

Plus if people started doing this, solicitor’s files would quickly become a target for criminals.

A solicitor accepting to store keys for a wallet which has 100000 euros on it in their files has similar security implications to the solicitor accepting to keep 100000 euros in cash for you in their files.

I don’t think it is in any solicitors interest to to it.

q85dw7osi4lebg

$11,200...

You can get your keys engraved on metal, fireproof then.

stockshares

Addison Fancy Macrame wrote: »

$11,200...

You can get your keys engraved on metal, fireproof then.

That's correct, there's one called CryptoSteel.
www.cryptosteel.com

One thing I'm curious about is people using Crypto Cafes. Surely they are a target for thieves

Bob24

JJJJNR wrote: »

I thought I was paranoid.

It is more a matter if risk evaluation than paranoia.

Is the probability of your solicitor or a rogue employee accessing the words, their files getting raided, their files being destroyed, your will getting misplaced, or your will being opened in front of the wrong person lower than the probability of a reputable exchange losing coins and not being able to compensate its users for the theft?

I am not claiming I have the answer, but I don't think it is a straight forward issue.

Also, out of the people using a Ledger type of device on this thread, how many have genuinely thought about this and found a truly 100% safe way to store their seed words?

JJJJNR

There are documents worth the full market cap of crypto sitting in solicitors offices in the Cayman islands.

I think your ok.

q85dw7osi4lebg

Bank of Ireland only cover funds up to €100,000 in the event of something catastrophic happening.

I believe Coinbase are the same for US users (I think?)

Not here though.

q85dw7osi4lebg

Actually maybe that is for funds held in fiat now that I think about it.

Bob24

JJJJNR wrote: »

There are documents worth the full market cap of crypto sitting in solicitors offices in the Cayman islands.

I think your ok.

Documents which if anyone gets access to them, they could instantly and anonymously steal the corresponding amount? What kind documents are we taking about here?

JJJJNR

Bob24 wrote: »

Documents which if anyone gets access to them, they could instantly and anonymously steal the corresponding amount? What kind documents are we taking about here?

the legal profession is trusted with that amount so I would trust them in the case of keeping a few dollars of crypto safe. Whats your beef with solicitors..

JJJJNR

stockshares wrote: »

I agree with him, would you trust a solicitor with your crypto

Yes I would it's one of the most audited industries out there.

Thargor

Bob24 wrote: »

Documents which if anyone gets access to them, they could instantly and anonymously steal the corresponding amount? What kind documents are we taking about here?

Bearer bonds I think are pieces of paper like share certs representing huge quantities that can be stolen and resold anomalously? Some kind of bond like that features in a lot of heist stories anyway, usually featuring Jersey or the Cayman Islands aswell.

rapul

Ah whens it gonna fall back a bit, threw a few grand in last nite before bed while it was hovering below 10k dollars and now look, wanna throw in more but hmm!

Thargor

I cannot believe we are heading back this direction, I swore when it hit my BEP and went into the red Id dump everything (mostly ETH) if it ever got back in the black but now Im 100% up again and back to being greedy, whats the point in paper profits if you can never bring yourself to hit sell? I do this with shares ll the time aswell.

Dohnjoe

Eth just sailed past $300, what's more interesting is that Neo has taken off, up 25% in an hour, probably will fall back, but interesting to see if any alts start "popping"

Crazy market right now

Bob24

JJJJNR wrote: »

the legal profession is trusted with that amount so I would trust them in the case of keeping a few dollars of crypto safe. Whats your beef with solicitors..

No beef with solicitors, but they are no banks or secure storage professionals, and I don’t think any solicitor would claim or want to be one - it simply isn’t their line of business. If you were going to your solicitor asking them to store 100000 in cash for you they would likely politely decline and maybe offer to help you with finding someone else who does they for a fee.

When you say the legal profession is trusted with large amounts ... yes they are in terms of dealing with legal proceeding or holding documents which describe ownership for those amounts, but they will not provide direct physical protection for the assets (if protection is required they will likely pay someone else to do it).

makeorbrake

JJJJNR wrote: »

Yes I would it's one of the most audited industries out there.

I really hope that you're kidding

JJJJNR

ALTS just woke!

JJJJNR

Inflection points everywhere.....

JJJJNR

makeorbrake wrote: »

I really hope that you're kidding

Lads just send me your keys be grand.

makeorbrake

JJJJNR wrote: »

Lads just send me your keys be grand.

Keys keys or lambo keys.....?

q85dw7osi4lebg

Bought the dip

q85dw7osi4lebg

And happy to keeping buying the dips until we get to a new ATH, then that's me.

machiavellianme

Addison Fancy Macrame wrote: »

And happy to keeping buying the dips until we get to a new ATH, then that's me.

How do you know when it's ATH? Once it's 1c more than the previous?

sexmag

machiavellianme wrote: »

How do you know when it's ATH? Once it's 1c more than the previous?

It's all time high is more than its previous highest, how much more it goes after that is speculation but yes 1/c would technically be a new ATH

Nermal

The 24 word key can be split in such a way that it’s private but one still has some redundancy, look up Shamir’s secret sharing.

Or just memorise the words and hope no-one ever beats it out of you...

Dohnjoe

Thargor wrote: »

I cannot believe we are heading back this direction, I swore when it hit my BEP and went into the red Id dump everything (mostly ETH) if it ever got back in the black but now Im 100% up again and back to being greedy, whats the point in paper profits if you can never bring yourself to hit sell? I do this with shares ll the time aswell.

Sell in stages? people seem to be obsessed with selling it (or buying it) all in one shot

Personally I have a figure in my head, once it hits that, then I sell 5%. And so on.

paleoperson

Dohnjoe wrote: »

Sell in stages? people seem to be obsessed with selling it (or buying it) all in one shot

Personally I have a figure in my head, once it hits that, then I sell 5%. And so on.

Why? Like it's all completely arbitrary. There's no rhyme or reason to it.

JJJJNR

From the research I've done which is by no means flawless a distributed exchange is safe, unless someone can argue against that, it's what I'm sticking with.. you are the bank it's up to you to be risk aware. My own coin distribution is through a DEX and local ledger which was purchased direct from manufacturers to stake. I completely understand posters concerns about what if RIP happens.

I have thought about the RIP thing because I don't plan on selling any bitcoin at any stage even if it goes to dot zero, and the economy tanks, I still think bitcoin was the genisis for future generations.

I have told anyone who will listen to have a tenth of a bitcoin as a reserve.

Dohnjoe

paleoperson wrote: »

Why? Like it's all completely arbitrary. There's no rhyme or reason to it.

Imagine you bought BTC at $10, and you sold all at $100. There was a point when it never went below $100 again. You netted a nice profit, but future opportunity profits wise you got absolutely shafted

Selling in stages spreads that risk over a period of time of your choosing, over price ranges of your choosing.

Would also tack the rule - "never sell all" onto that

Thargor

Dohnjoe wrote: »

Imagine you bought BTC at $10, and you sold all at $100. There was a point when it never went below $100 again. You netted a nice profit, but future opportunity profits wise you got absolutely shafted

Selling in stages spreads that risk over a period of time of your choosing, over price ranges of your choosing.

Would also tack the rule - "never sell all" onto that

Well it would be great to be able to predict 10-baggers like that and/or predict those 10 baggers will go on to become 100 or 1000 baggers in the future but real life doesnt work like that. In my case its wrestling with seizing a 5 figure sum that pushes me over the line into becoming a homeowner with tenants in my early 30s when most of my peers dont have a pot to piss on vs the possibility of future gains, a bird in the hand etc...

makeorbrake

Dohnjoe wrote: »

Personally I have a figure in my head, once it hits that, then I sell 5%. And so on.

So go on then, what's the figure that will trigger the 5%?

Dohnjoe

Thargor wrote: »

Well it would be great to be able to predict 10-baggers like that and/or predict those 10 baggers will go on to become 100 or 1000 baggers in the future but real life doesnt work like that. In my case its wrestling with seizing a 5 figure sum that pushes me over the line into becoming a homeowner with tenants in my early 30s when most of my peers dont have a pot to piss on vs the possibility of future gains, a bird in the hand etc...

True. Everyone has a cash-out point, and some people require the money now rather than later.

Am in it for the super long-term, I am v curious to see how high it could potentially go with proper public access (which doesn't exist yet), you know, where your grandmother could "order some crypto" at their local bank branch

Dohnjoe

makeorbrake wrote: »

So go on then, what's the figure that will trigger the 5%?

No one should give figures online, there are hackers constantly phishing for that type of info

makeorbrake

Dohnjoe wrote: »

No one should give figures online, there are hackers constantly phishing for that type of info

lol

McCrack

Dohnjoe wrote: »

No one should give figures online, there are hackers constantly phishing for that type of info

And don't forget barneystinson the tax inspector... He will be back around here soon

Dohnjoe

makeorbrake wrote: »

lol

Anyone who gives numbers or portfolio amounts is painting a big fat target on their back. I've read too many accounts of it happening, and there's always a starting point on a forum or online post. I'm 17 levels of paranoid now.

paleoperson

Dohnjoe wrote: »

Imagine you bought BTC at $10, and you sold all at $100. There was a point when it never went below $100 again. You netted a nice profit, but future opportunity profits wise you got absolutely shafted

Selling in stages spreads that risk over a period of time of your choosing, over price ranges of your choosing.

Would also tack the rule - "never sell all" onto that

You could get the same effect by just investing a smaller amount in the first place.

Probability-wise you're no better or worse than if you did sell it all at once.

Dohnjoe

paleoperson wrote: »

You could get the same effect by just investing a smaller amount in the first place.

Probability-wise you're no better or worse than if you did sell it all at once.

Crypto isn't like normal investments, especially the alts, they can move insane amounts

I sold an amount of an alt in Dec '17 and it was +300% 4 days later. I can't time the top or the bottom so I prefer to spread the risk rather than concentrate it. It also makes for more rational decision making (over emotional/impulsive) - in my opinion.

makeorbrake

Dohnjoe wrote: »

Anyone who gives numbers or portfolio amounts is painting a big fat target on their back. I've read too many accounts of it happening, and there's always a starting point on a forum or online post. I'm 17 levels of paranoid now.

I hear ye but I would never ask someone to publish portfolio amounts...or suggest that they should. You could be buying 50 quids worth of crypto and playing with that week on week or whale status but price you are *considering* selling isn't going to be a big reveal in isolation. :-)

makeorbrake

paleoperson wrote: »

You could get the same effect by just investing a smaller amount in the first place.

Probability-wise you're no better or worse than if you did sell it all at once.

I'm open to correction but I would have thought that it is averaging out the sales price and narrowing certain probabilities.

You could have invested a smaller amount for sure. But it's kind of a different thing - as you still have just one point at which you sell rather than spreading it over two. You're not averaging your sales price out.

Dohnjoe

makeorbrake wrote: »

I hear ye but I would never ask someone to publish portfolio amounts...or suggest that they should. You could be buying 50 quids worth of crypto and playing with that week on week or whale status but price you are *considering* selling isn't going to be a big reveal in isolation. :-)

Ah the price of crypto, for alts, definitely close to ATH