BSV into cold storage

BSV into cold storage

Recently my digital exchange announced they were leaving the building. Shame, great platform and customer service. Well done, folks!

Sadly, everything ends!

BX to stop services at month’s end

Move fires price slump on exchange The price of the cryptocurrency traded on bx.in.th fell by 3.6% as of press time on Monday and slumped below 200,000 baht per Bitcoin at one point.

If you ignore the two hours it took me to realise what I thought was a thumb drive was actually an empty micro SD card reader, then yeah it all went pretty smoothly.

What a stupid mistake! There I was trying to mount a non-existent ‘medium’ and Googling a bunch of articles on why I couldn’t see the volume.

PEBKAC!

After inserting a microSD card all went well. Funny that!

I then followed this most excellent tutorial in setting up an ElectrumSV wallet on an old ‘air-gap’ PC and then exporting the public key to create a ‘watching-only’ wallet on a Windoze VM (which as it turns out wasn’t really necessary)

A method for storing Bitcoin SV securely, without a hardware wallet. – Trevor_Parsons – Literatus

Update6/1/2019 – A new article has been published that describes an alternative approach to the aspect of the method described below that pertains to withdrawing funds from cold storage. You can either use the method described in this article, or a differ…

The only snag I hit was having to install an MS patch before I could get the ElectrumSV binary up-and-running.

Sorted!

Then I withdrew the BSV to my new address – a micro amount at first and when I saw that worked, the balance of the holdings ( a whopping 4 point something BSV!)

As I said, didn’t need the ‘watching-only’ wallet but a nice-to-have. It confirms the correct balance, which is really all you are after.

You can use bchsvexplorer to do the same thing.

Hey, there’s my QR code for the receive address if you’re tempted to throw me a bone. C’mon, don’t be shy!

Anyway, cold storage sorted a few days before the deadline. Well done me!

If only they hadn’t dropped by so much since I bought ’em.

HODL forever, eh?

And no, I’m not telling you my seed phrase. I’ve carved those 12 words onto a stone tablet which is sitting in the bottom of a small pond in the front garden protected by fierce goldfish.

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