Does Xapo replace the need for paper wallets ? I'm a little perplexed that they only use a 4 digit password and that there's no 2 step authentication ??

Assuming your wallet software gets it right and spends the single transaction instead of just breaking up a couple of others in the wallet, right? I probably wouldn't rely on that, though I know it's possible.

The wallet is going to pick whatever it thinks is "best". This may be one or more than one transactions. It likely won't spend them all out of an address unless required, although your mileage may vary based on the wallet.

what does this mean? i can take my offline wallet, put it online, send the entire balance at once, but it may choose to do multiple transactions and therefore i'd lose money?

No. It means that it might leave some money in the paper wallet's address if you didn't spend it all. Or it might lump them all together and send the rest as change.

RE: the last few posts

if people who follow BTC don't understand the intricacies, how is the general public going to fare

such a steep learning curve for those looking to jump in

You don't need to know the intracacies, just that what you are doing is safe and secure.
Frankly I have no idea about the inner workings of banks or the stock exchange, but I rely on them to work. I assume the vast majority of the public also doesn't understand but they've been using them for years.

Bitcoin is still new, and is ripe for losses. A curious research project would be an investigation of how banks fared when they first started to emerge. Or how stock exchanges did. I bet there were tons and tons of scams, losses, confusion, untrustworthiness, theft, etc.

The same can be said for bitcoin at present. Some form of regulation will help.

Would anyone mind selling me 2 btc for paypal instant? I have a solid rep in the poker community and many will vouch for me, I just don't have a coinbase account anymore since I closed it down.

(No tomcollins im not returning to post in the thread for discussion)

How is my mother going to use an iPad when she has to learn the intricacies of how TCP/IP works and how to sign up on a BBS?!

bitcoin is the freemarket. it regulates itself. the future will bring millions of altcoins making regulation a moot point.

That's kind of true.

Regulation will help it grow sooner, faster.

Whereas lack of regulation, condemnation will almost need a revolution for it to succeed.

But i think in the end it will succeed so the government should pick its pony now. At least if they regulate it now, some conditions can come with it.

If they wait till the revolution it will be the wild west.

I bought a small amount of bitcoin recently, just to hold in case the pundits are justified. I understand the claimed benefits of bitcoin in general terms, and that was enough for me to have a dabble.

So obviously my plan was to put them in cold storage. Since looking into the process, I've shelved that idea because the guides on how to do so are so incredibly convoluted, and involve things like using computers that have never touched the internet, and a range of caveats about how you can draw the money out of cold storage (you can't withdraw a portion of a paper wallet, has to be the whole amount, is that right?), suggestions you should shift wallets every few months or so and the like.

I wish it was as simple as using an iPad. I'm pretty savvy with these things, and at the moment I've put this 'simple' task in the too hard basket. Instead I've left my coins in an exchange, just waiting to be goxxed.

If bitcoin can't hit a balance of usability/security, all it will do is help people to appreciate what they get for their bank fees imo.

Cold storage is the super secure version. It's like having a separate computer just for playing poker (recommended for HS players). If you are reasonable confident your computer doesn't have malware, you can just download to a wallet on your computer (make sure to backup in some way). If your computer does have malware, then the bitcoins on your exchange can be hacked, even if the exchange isn't goxxed (so leaving on exchange isn't necessarily more secure than a hot wallet).

Advances in security are happening all the time in bitcoinland. The internet is mature, that's why it's simple now, it wasn't 20 years ago. Using your credit card for purchases on the internet was considered outrageously risky not that long ago.

I really like this idea for wallet security: https://cryptocorp.co/technology.htm
You have one key for daily use, one super secure key, and an oracle company has one key. 2 keys required, so oracle company can't access your funds. Oracle company will automatically provide second key for small purchases, requires verification for medium purchases, and you'll need your super secure key to take significant funds.

Use electrum and hold your own coins. It doesn't have to be a choice between cold storage or letting someone else hold them.

I think you missed the point. I don't think he was saying it's as simple as using an ipad. He was saying that, while it's still very complicated right now, if you give it time (months, years?) it will become as simple as using an ipad and your gandma will be able to easily mash buttons and make it work.

Are there any of you that leave their coins at BTCE ? Do you feel safe about it ? What about OKPAY ? I've made an account to deposit there through bankwire so I am able to buy coins quickly, but should can I leave big money there ?

Also, how can I buy BTCs with skrill eu ? I found some exchange site that use linden dollars but they take a 20% fee... not really sustainable for me. I'm looking for a safe alternative, anyone care to advise me? I've tried localbitcoins but nobody contacted me so far !

If you downloaded that stash of files "hacked" from MK's computer and had a BTC wallet on that same computer, you may want to make sure everything's still there.

Apparently the files were a honeypot to distribute malware.

http://techcrunch.com/2014/03/14/the...rs-of-bitcoin/

so big lawsuit in Canada to try to get Gox money. lol good luck with that

If it was as simple as using an iPad, the profit potential wouldn't exist.

Cmon it's not that hard to
1. print seed to electrum
2. put seed in bank vault
3. delete wallet

Explains why Apple never made much money.

The profit potential at that point comes from being Apple. You miss the point yet again, or are deliberately obtuse.

Valve change it so you need to win 25+ games before you're allowed to play in competitive matchmaking ffs.

This is why I bought in. I understand the argument that bitcoin is a protocol full of latent potential, and once infrastructure is built up around it that potential will be harnessed.

I just don't take that as a given. It seems to me there's a very fine balance to be trod between security and usability. As long as you can relatively easily misuse coins with no recourse, or think you have them stored away only to find they were hacked years ago etc, then I don't buy this to the moon stuff.