Bitcoin 101 – Intro to Paper Wallets & Cold Storage – Bitcoin Security & Fun with Sloppy Wallets

Bitcoin security? UGH!!!

Bitcoin does so many things better than banks (trusts, escrows, programmable money, cheap transfers, instant accounts, etc.), but one area that is not quite so nice, is security.

While the bitcoin network, itself, appears bullet-proof, lots of bitcoins are being stolen, via hacking, malware and flaws in online wallets and even google’s random number generator.

The answer is to get your bitcoins entirely offline, and the two ways to do this are paper wallets and cold storage. This video is an introduction to making both. Host, James D’Angelo, walks you through the software and ideas used in making ‘sloppy’ offline wallets (which are great to have). He also gives suggestions at making even better offline wallets. This is the first of many videos we will make on bitcoin security, and the least technical.

We hope you’ll enjoy.

Here’s the private keys we generate in this video with their public addresses!
PRIVATE KEY #1 (we sent one dollar to this one on Jan 5th) 5KNhmaUuPNeau7KptEhWefEcAwfMim8VABR6QhJH8JHAFBbnCe5
You can see it live here

PRIVATE KEY #2 (we didn’t send any funds to this one) 5J2VYxJsAktgLZ7PWNevxAEPFaKPftCYhyi1VxMHzT56kLTwtLY
PUBLIC ADDRESS #2 19ZxxVTac6zxH9a9xqXhtntepTLosFa8F9
You can see it live here

These keys will work forever, and are open wallets. You can play with them, send tiny amounts of bitcoins (very tiny because the funds in these wallets are spendable by anyone because the private key is public) and you can even withdraw the funds in them if there is still some left!!! nice.

Welcome to WBN’s Bitcoin 101 Blackboard Series — a full beginner to expert course in bitcoin. Please like, subscribe, comment or even drop a little jangly in our bitcoin tip jar
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Thanks, WBN