Silk Road forums

Discussion => Security => Topic started by: painbow on September 04, 2012, 06:37 am

Title: Which place is safer to store your bitcoins? Instawallet or your SR account?
Post by: painbow on September 04, 2012, 06:37 am
Where do you guys store your spare bitcoins?
Title: Re: Which place is safer to store your bitcoins? Instawallet or your SR account?
Post by: etherealaura on September 04, 2012, 07:56 am
I'm new and all but I feel like it's kind of hard to determine..

Instawallet is nice because it's a randomized generated link that you only know.. Until you bookmark/save it somewhere accessible and someone can easily go in and transfer your BTC.
And SR is very nice as well because not only you actually have an account to login too with a username/password, but you also need to use your PIN you firstly made when signing up to withdraw/buy.

Overall, I'd say my vote would be SR considering you have to login and also enter a PIN before utilizing your BTC.

Regards,
EtherealAura
Title: Re: Which place is safer to store your bitcoins? Instawallet or your SR account?
Post by: wasta on September 04, 2012, 12:48 pm
Deviding your coins on to several accounts, seems to be the best option to me.
Don 't just bet on one horse!
Title: Re: Which place is safer to store your bitcoins? Instawallet or your SR account?
Post by: koooloap27 on September 04, 2012, 04:36 pm
I try to never have spare coins (market could fuck you over by fluctuating) but if I did I would definitely not keep them in my SR account! Just think about it... bitcoins = legal. SR = probably illegal where you live. If SR were to ever shut down or go offline even for a week wouldn't you want to know your bitcoins are safe in a instawallet, or even better a good ol' plain bitcoin wallet on your computer. That way even if instawallet goes down at least you can attempt to contact someone or even ask for outside assistance. By storing coins on your SR account I wouldn't think you would want to ask anyone for help or even find anyone who could help you.

I'd say do instawallet or bitcoin wallet
Title: Re: Which place is safer to store your bitcoins? Instawallet or your SR account?
Post by: BigEasy on September 04, 2012, 06:55 pm
I do like blockchain.info's e-wallet service and of course the best option is right on my encrypted hard drive with bitcoin-qt.
Title: Re: Which place is safer to store your bitcoins? Instawallet or your SR account?
Post by: skitzo on September 04, 2012, 07:24 pm
Ya im looking to figure out more about BTC seeing that I've never liked the idea of exchanging USD for e-currency like BTC or LR.

I'm wanting to figure out how to keep my coins safe as well if I have spares
Title: Re: Which place is safer to store your bitcoins? Instawallet or your SR account?
Post by: LouisCyphre on September 04, 2012, 10:43 pm
Quote from: Guru on September 04, 2012, 10:25 pm
Quote from: BigEasy on September 04, 2012, 06:55 pm
I do like blockchain.info's e-wallet service and of course the best option is right on my encrypted hard drive with bitcoin-qt.

Elivance just reported that Bitcoin floor was hacked/looted and all the BTC are gone.  Safest place might be on your own machine, in an encrypted container, backed-up onto one or more usb sticks.

Got a link for this hack?

EDIT:  Nevermind, just saw the links both here and on Bitcoin Talk.