November Meet Up - How to securely keep your own bitcoins BYOB
Hosted by Utah Bitcoin Community
Details
Hi Everyone,
We'll be meeting on the 3rd Saturday of each month.
BYOB = "Bring Your Own Bank"
With the price of bitcoin skyrocketing, a lot have ever more valuable stores of bitcoin. Online/web wallets like Coinbase, Blockchain.info, BIPS or BitPay while offering convenience and some very useful tools, require a certain level of trust. They also (except Blockchain.info) keep and have control over your bitcoins. That means it is possible for them to lose your bitcoins following any incident on their side. This has happened recently:
http://www.theverge.com/2013/11/8/5082350/over-1-million-stolen-from-bitcoin-digital-wallet-service-claims-site
As of today, no web wallet services provide enough insurance to be used to store value like a bank.
We will talk about and show ways to transfer and keep your own bitcoins in a wallet that you completely control and are responsible for.