You are viewing a single comment's thread from:
RE: Quick Trading Update.. Whats my plan for Ethereum?
I have often went back to rewatch a video I made months before, just as a refresher to remind me of the big picture.. Because I am a trader at heart, i tend to sell too much on the pops and not keep enough for the future as an investment.. as an example, i remember selling 90% of all my ETH at $18 and thinking i made the trade of the century... but when it hit $400 i often reflect on hold my free coins a little longer.. I also have some ETH in two wallets that I lost the keys for...So I get to go and see the address anytime i like, but have no access to the funds.. I keep thinking when ETH is $5,000 a coin im gonna cry looking at those addresses :(
Hey, I think you should look for some people who know their stuff in crypto from programming/security standpoint, they might know of a way to recover these accounts. Tons of people lost access to their funds. I am not sure if it can be recovered in your help but it would certainly help to ask around. https://ethereum.stackexchange.com/questions/97/how-can-i-recover-or-reset-a-lost-wallet-password I think you could ask on big bitcoin forums, i've once read about a guy that specializes only in helping people who lost their accounts, but I can't find it now.
Thanks for the link.. My wife bought me a new file cabinet 6 months ago, and when I was reorganizing, i threw out the paper wallets.. gah!!! i been searching through everything I own to see if I had backups anywhere.. those wallets where from the genesis investment.. unreal..
You got a sympathy upvote from me. :D
Every vote counts
When it comes to paper wallets, I always like sharing my method on how I do it:
take all your private keys, and encrypt them using 7-zip.
Just make sure you choose the encryption method in the dialog to be AES-256 (which not even the FBI and CIA can crack), and not ZipCrypto (which can be cracked in 15 minutes).
Then as long as you used a strong password you'll never forget, you can have several copies stashed everywhere (on your computer, in your email, I personally have a copy on both my yahoo and my gmail, also on a flashdrive you always carry, I keep one copy in a flashdrive at my parents' house, and on my work computer, etc).
And you can still keep adding coins to these paper wallets as long as you keep a copy of the public address(es).
Taking it one step further, I use Google Inactive Account Manager as a "dead man's switch", so that my loved ones can access my paper wallets in case something happens to me. It has instructions how to access my paper wallets, telling them the password to a 7-zip encrypted archive, stored on a flash drive hidden in the house. And I also include a basic guide on how to cash out the crypto. I encrypt this 7-zip with a DIFFERENT password, so even if they hack the Google account with this info, it acts like 2FA, they also need access to the flash drive in my house. The password in the deadman switch won't work for the 7-zip files on my email, work computer, etc., only I have the password to those files.
Wow you really did get serious.. I simply chose to store all my passwords and such on an encrypted USB, that only gets accessed by a personal computer that has never and will never be online.. Then I keep my incrypted USB in a very secure location.. thats pretty fool proof i think.
Wow, talk about security. Thanks for sharing such a great advice!
Oh man that sucks about losing the keys! I'm defintely going to invest in a cold wallet in the coming months and try to back everything up on to paper wallets aswell. I guess you think its losing your keys isn't going to happen to you until it does...
Im going to write myself some trading guidelines to strictly follow to try and avoid trading with emotin. I want to leave 50% of my profits to trade and grow the amount I can trade at a time then invest the other 50% for the long term. Or something along those lines anyway
Yeah.. after seeing the way so many of the coins have grown to 10x 100x 1,000x and more, it is important to be investing as well as trading.. good plan..
I've been thinking along similar lines. However I'd like to grow my accounts a little more aggressively, so my current plan is to leave 10% of my position from a trade for long-term investment.