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How do you create a Bitcoin paper wallet?

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Ribenapigeon
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PostPosted: 20:35 - 27 Nov 2013    Post subject: How do you create a Bitcoin paper wallet? Reply with quote
How do I save my Bitcoin as a paper wallet? I have my Btc in an Electrum wallet on my pc. i've looked up wiki's but I'm still at a loss as to what to do. I really want to just hide my Btc away in a drawer and forget about it for a year without worrying about the security of a pc or memory stick.
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Tungtvann
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Joined: 07 Dec 2012
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PostPosted: 20:42 - 27 Nov 2013    Post subject: Reply with quote
For most security, use an offline computer to generate a paper wallet. Print this out. Send your required bitcoin balance to the public address of the paper wallet. The bitcoins will now be associated with that address. Protect that piece of paper appropriately as there is NO WAY to recover your coins if lost. You can make copies of course.

That's how I've come to understand it, haven't done it myself yet, unless I'm wrong in which case I will be duly corrected.
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Ribenapigeon
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PostPosted: 20:54 - 27 Nov 2013    Post subject: Reply with quote
Its the doing of all of the above that's tricky. I think you might need yet another piece of software to generate evn more keys. But I'm not sure. In fact aim begining to think all this cloak and dagger stuff is likely to be bitcoins biggest risk of downfall.
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GhostRider
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PostPosted: 21:48 - 27 Nov 2013    Post subject: Reply with quote
Boozehawk wrote:
Its the doing of all of the above that's tricky. I think you might need yet another piece of software to generate evn more keys. But I'm not sure. In fact aim begining to think all this cloak and dagger stuff is likely to be bitcoins biggest risk of downfall.


Its not very becoming to criticize something because you struggle to understand it.

It really is as simple as outlined above.

Go here:

https://www.youtube.com/watch?v=Im7ejQ0eyQg

Follow step one - for extra security, goto bitaddress.org, paper wallet tab, the right click and save the web page. Then boot into safe mode without networking and run a virus/malware scan, and only then open up the saved webpage, generate an address and print it out. This is so your private key never gets exposed to the internet so no chance that anyone could hack your pc and swipe your btc.

Reboot your pc, load up electrum, send btc to the public address on what you just printed out. Then forget about it, keeping that printed piece of paper safe. Thats it.

GhostRider
____________________
I have all the characteristics of a human being: blood, flesh, skin, hair; but not a single, clear, identifiable emotion, except for greed and disgust. Something horrible is happening inside of me and I don't know why. My nightly bloodlust has overflown into my days. I feel lethal, on the verge of frenzy. I think my mask of sanity is about to slip.
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Ribenapigeon
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PostPosted: 01:44 - 28 Nov 2013    Post subject: Reply with quote
GhostRider wrote:
Boozehawk wrote:
Its the doing of all of the above that's tricky. I think you might need yet another piece of software to generate evn more keys. But I'm not sure. In fact aim begining to think all this cloak and dagger stuff is likely to be bitcoins biggest risk of downfall.


Its not very becoming to criticize something because you struggle to understand it.

It really is as simple as outlined above.

Go here:

https://www.youtube.com/watch?v=Im7ejQ0eyQg

Follow step one - for extra security, goto bitaddress.org, paper wallet tab, the right click and save the web page. Then boot into safe mode without networking and run a virus/malware scan, and only then open up the saved webpage, generate an address and print it out. This is so your private key never gets exposed to the internet so no chance that anyone could hack your pc and swipe your btc.

Reboot your pc, load up electrum, send btc to the public address on what you just printed out. Then forget about it, keeping that printed piece of paper safe. Thats it.

GhostRider


Thats all very well but how do you know its safe? how do I know I havent just sent my Btc to some geekscumbag?
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Ribenapigeon
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PostPosted: 02:36 - 28 Nov 2013    Post subject: Reply with quote
GhostRider wrote:
Boozehawk wrote:
Its the doing of all of the above that's tricky. I think you might need yet another piece of software to generate evn more keys. But I'm not sure. In fact aim begining to think all this cloak and dagger stuff is likely to be bitcoins biggest risk of downfall.


Its not very becoming to criticize something because you struggle to understand it.

It really is as simple as outlined above.

Go here:

https://www.youtube.com/watch?v=Im7ejQ0eyQg

Follow step one - for extra security, goto bitaddress.org, paper wallet tab, the right click and save the web page. Then boot into safe mode without networking and run a virus/malware scan, and only then open up the saved webpage, generate an address and print it out. This is so your private key never gets exposed to the internet so no chance that anyone could hack your pc and swipe your btc.

Reboot your pc, load up electrum, send btc to the public address on what you just printed out. Then forget about it, keeping that printed piece of paper safe. Thats it.

GhostRider


Thats all very well but how do you know its safe? how do I know I havent just sent my Btc to some geekscumbag?
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P.addy
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P.



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PostPosted: 06:50 - 28 Nov 2013    Post subject: Reply with quote
Because that is the way to do it... Brick Wall
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GhostRider
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PostPosted: 12:24 - 28 Nov 2013    Post subject: Reply with quote
Boozehawk wrote:


Thats all very well but how do you know its safe? how do I know I havent just sent my Btc to some geekscumbag?




If you mean how do you know your address is unique, then because of probability:

https://bitcoin.stackexchange.com/questions/7724/what-happens-if-your-bitcoin-client-generates-an-address-identical-to-another-pe

https://bitcoin.stackexchange.com/questions/7676/what-are-the-chances-of-vanitygen-address-private-key-pair-collision

Analogies like finding a single grain of sand in the entire solar system apply here in terms of generating the same address as a geeky scumbag.

If you mean how do you know that the address generated is in fact not at all random and has been programmed to give you an address that already exists and belongs to a geeky scumbag - well I can't say for sure, except that everyone that uses bitaddress.org will have succumbed to the same fate, and whoever was running that scam will have cashed out by now, on account of them being potential million/billionaires. The fact that this hasn't happened is enough for me to sleep at night. A more technical explanation as to how addresses are generated I imagine would show that they can't be influenced/falsified, but I am nowhere near smart enough to seek such verification.

GhostRider
____________________
I have all the characteristics of a human being: blood, flesh, skin, hair; but not a single, clear, identifiable emotion, except for greed and disgust. Something horrible is happening inside of me and I don't know why. My nightly bloodlust has overflown into my days. I feel lethal, on the verge of frenzy. I think my mask of sanity is about to slip.
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Ribenapigeon
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PostPosted: 15:23 - 28 Nov 2013    Post subject: Reply with quote
I don't understand how I can send a Bitcoin to an address which is on a bit of paper.

What's needed here for consumer confidence is for a company who's business is computer security say Macafee was to produce Btc wallet software.
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Ste
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PostPosted: 15:29 - 28 Nov 2013    Post subject: Reply with quote
https://www.bbc.co.uk/news/uk-wales-south-east-wales-25134289

Shocked Laughing
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GhostRider
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Joined: 31 Jan 2008
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PostPosted: 15:50 - 28 Nov 2013    Post subject: Reply with quote
Boozehawk wrote:
I don't understand how I can send a Bitcoin to an address which is on a bit of paper.

What's needed here for consumer confidence is for a company who's business is computer security say Macafee was to produce Btc wallet software.


Your are sending it to a digital address, its just that address happens to be printed out on paper, along with the private key, so that you can store it somewhere. This way if your hard drive explodes, or you throw your hard drive away into a landfill site, you could still retrieve your btc.

So the guy who has a hard drive in a landfill site, had he transferred to a paper wallet, would now be a millionaire.

GhostRider
____________________
I have all the characteristics of a human being: blood, flesh, skin, hair; but not a single, clear, identifiable emotion, except for greed and disgust. Something horrible is happening inside of me and I don't know why. My nightly bloodlust has overflown into my days. I feel lethal, on the verge of frenzy. I think my mask of sanity is about to slip.
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Ribenapigeon
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PostPosted: 16:05 - 28 Nov 2013    Post subject: Reply with quote
GhostRider wrote:
Boozehawk wrote:
I don't understand how I can send a Bitcoin to an address which is on a bit of paper.

What's needed here for consumer confidence is for a company who's business is computer security say Macafee was to produce Btc wallet software.


Your are sending it to a digital address, its just that address happens to be printed out on paper, along with the private key, so that you can store it somewhere. This way if your hard drive explodes, or you throw your hard drive away into a landfill site, you could still retrieve your btc.

So the guy who has a hard drive in a landfill site, had he transferred to a paper wallet, would now be a millionaire.

GhostRider


So, if I want to get my Btc back into the wallet on my PC I take the address on the paper wallet and the keycode, type them into the PC wallet and the Btc will be transferred back to the PC ?
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GhostRider
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PostPosted: 16:49 - 28 Nov 2013    Post subject: Reply with quote
Correct.

GhostRider
____________________
I have all the characteristics of a human being: blood, flesh, skin, hair; but not a single, clear, identifiable emotion, except for greed and disgust. Something horrible is happening inside of me and I don't know why. My nightly bloodlust has overflown into my days. I feel lethal, on the verge of frenzy. I think my mask of sanity is about to slip.
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Ribenapigeon
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PostPosted: 17:26 - 28 Nov 2013    Post subject: Reply with quote
Thanks. Now all I need to do is scrape together the readies to buy some ink for my printer Neutral
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