[ExI] The prodigal son returns -- Pathfinder

Stuart LaForge avant at sollegro.com
Fri Nov 17 05:10:51 UTC 2017

Jeff Davis wrote:

> Gail's step-sister, who has control issues, insisted that we must take
> our money out of the exchange and put it in our own hard wallet, for
> security reasons, lest the Exchange be hacked. I gave it some thought,
> asked myself who has better security, me at the house, or the exchange
> with millions of dollars in Revenue per day on the line?   I decided to go
> with the exchange. Coinbase. We do have a hard wallet but we haven't used
> it yet.

Welcome back, Jeff, and congratulations on your prosperity. Just a word to
the wise, I used your very same rationale of using a well-known high
reputation supposedly very secure bitcoin exchange to store my 120 BTC.

That exchange was MTGOX and I lost everything except for a bankruptcy
claim. I won't bore you with the details but if I had to do it all over
again, I would have stored 1/3 of my stash in an Electrum wallet, 1/3 on
the exchange, and 1/3 in a paper wallet, i.e. bitcoin address and private
key written on a piece of paper and stored in a bank safe deposit box.

Just my two cents. Good luck in your new Moonshot venture. :-)

Stuart LaForge

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