Bitcoin Q&A: Using paper wallets

Why does it have to be a computer that has never been online? You use a regular old laptop, disconnect it from the web, generate the key and then as long as you're storing your crypto on that key just never plug the computer back in. Once you spend it you can plug it back in as long as you don't use that private key ever again… Am I missing something here?

if you generate a key from 256 rolls of the dice or coin flips, how do you ensure the result is truely yours and you haven't stumbled on someone else's key and by using your key you aren't accidentally giving someone else your BTC?

So Exodus is probably not a good idea ? lol

Thanks. Been keeping you in mind since 2012. “Let’s talk bitcoin” those were the days lol. Been looking for this kind of info, because I’m removing bch. Wondered about security. Should have gone to the source right away. Thanks again ?

Raspberry pi or an arduino/mcu (I'm a do it my own damn self kinda guy, helps with learn the intricacies of the tech)

I have a paper wallet created offline and probably in a safe correct way. Andreas did you hear about the Bitfi wallet from John Mc afee? any opinions about that? he claims it is unhackable. anyway Andreas compliments for all your videos you are the best ambassador for bitcoin that exists today. everything you explain(in all of your videos) is extremely easy to grasp. Thumbs up

Would a NEW Raspberry PI be a potential for the device that has never been online? I know some people do this. One that you don't tunnel into? Connect it with a wire to a display .. the printer part is pretty hard though. I'm pretty tech savvy, but not quite up to that part yet …. hm… hardware wallets are the easier thing for a majority of users now, but Andreas I'm kinda now a bit determined that you said "paper wallets can be more secure if…" (I know most users shouldn't attempt this, but I'm thinking to test it and explore this realm now)… rabbit hole here i come!

What about the paper wallet generated by an ATM? Is it a secure wallet? I believe it is one of the most secure wallet around.

I understand you are trying to balance this to drive adoption, but I still disagree with this hardware wallet shilling of yours. You say banks will steal our money, if opportunity is presented, yet you offer us to trust some HW-manufacturing company not to temper with HWs they are selling. I believe we need something like 3d-printable open hardware asic (peer-reviewable by everyone), that would convert sha-256 to public addresses. That would be sufficient for my paranoia.

Great advise – thanks

Dear Sir,
In light of what you say.. would it be possible to connect a hardware wallet to a cheap printer and produce endless amounts of secured paper wallets?

I have a question. Is not already confirm that those initials seeds from the hard wallet can be already copied by the previous owner and then sold to another person in order to steal the new funds..?? If so how can one make new seeds to prevent that awful situation.?? Thanks in advance..

Can multiple hardware wallets store the same private key? I like the idea that if my house burns down, there's a spare out there some where

Why you shouldnt use a usb drive that was connected to an online computer to generate a paper wallet on an offline computer? If the private key is generated offline and you destroy that pendrive later that information will never leave the offline computer. The only risk is having a corrupted wallet generator, but if you download the html file directly from GitHub its pretty secure.

Nice one Andreas…excellent information

what is the best option for a hot wallet for litecoin..to sweep a paper wallet to a hot wallet without paying high fees..

Is it safe to generate a key on one of those paper wallet websites without downloading it as long as you turn your internet off before generating it? (Like for smartphones were it might not be possible to download the file/print it?

I realize this is off topic but do you realize that as desperation sets in for the "money managers", they will be forced to implement a universal basic income to keep people using "their" currency. What effect do you think that will have on bitcoin adoption?

Maybe a raspberry pi would be a cheap way to generate paper wallet? Can keep separate SD card with clean Linux installation on it. And raspberry pi's are cheap.

I think you got this slightly wrong Andreas. It's not about a computer that has never been online. It's about a computer that will never ever be online in the future.

A computer that's infected can still be used to safely create paper wallets. Just don't let it touch the internet ever again.

Same for USB: you can use any USB or other media to put data onto your cold-computer. You just can't let them touch a hot-computer afterwards; meaning they are single-use. Copy over software and destroy them.

Sir, I hope you are aware of the situation in India regarding India's Central Bank (Reserve Bank of India) ring fencing regulated entities from virtual currencies. Can you show us a way how we can use other service to convert our crypto into fiat? Or any other solution you have. We would be very greatfull to you Sir.

I respectfully disagree and ask all of you, to please tell me, where I am wrong:
Issue 1 (special case).: How and why would anyone creating a paper wallet even consider using a printer or plotter? Honestly? Did we forget to use a pen and write down a terribly long public key from a screen? (like 40chars or so…)
Issue 2 (generally).: How does ANYTHING, that happened on a computer BEFORE I generate my public key out of the private one have an effect on my private-keys afterlife? Seriously? I've done it several times, and what was sad is logically false. Please give me your best shot, and tell me, even if on a theoretical level:
– if you had unlimited access to my computer BEFORE I generate my public key, how would you screw me?
Please, I honestly need to know.
There is only one information leaving said computer, through one interface, and that is the public key which I READ from the screen. So unless the public key itself does not point to my private key, which is checked with a tiny amount as soon as your finished, I do not see, how you access my funds.
A paper wallets security is SCALABLE, and you do not need to go to places, that never existed. And the massive difference between a quite easily generated paper key-pair and a hard wallet is, that you can reasonably say: you did not have to trust ANYONE. If there was anything corrupted on the way, you notice it.
BTW paper wallet for that matter = analog wallet.

Its the computers afterlife, that matters, not what happened before! That's a huge difference, but that you can CONTROL!

I've been wrong many times, I just don't see, where I could be wrong in this case.
Cheers

What are your thoughts on the news of George Soros coming into the market?

thank you Andreas, you explain Bitcoin better than anyone else

Andreas, you should check out NEM, you can generate transaction and then sign it on "secure" system, or even on paper if you are smart enough. We called it "offline transaction" and you can even try it for yourself, NEM nanowallet has this opportunity 🙂

Thanks Andreas. You are the only one who can explain such complex topics so easy. You are doing the best speeches when it comes to Cryptos. I personally struggled a lot by trying to use a paper wallet and then just bought a Hardware-Wallet ;-). Thanks for your explanation, before I thought I am too stupid to use a paper wallet…

Was keepass secure ?

Andreas? Therefore, with hard wallets, when I send a percentage of btc from one Ledger Nano S to another Ledger Nano S address (to avoid keeping all of my eggs in the one basket so to speak), must I turn my WIFi off to do so? And if I do not turn it off, am I then compromising my btc?