Replying to Avatar utxo the webmaster 🧑‍💻

If you ever want to learn anything about bitcoin or lightning but feel embarrassed to ask in public you can DM me I am always happy to help people with bitcoin.
Avatar
Duncan Cary Palmer 2y ago

I appreciate your generous offer, thank you!

My problem with questions is less embarrassment and more that I tend to get ignored...😜 I have several, but here's a fairly simple one:

Is it risky to send multiple deposits of bitcoin to a single, unchanging, truly randomly generated, public cold storage address in order to use it for long-term, progressively increasing savings?

Reply to this note

Please Login to reply.

Discussion

Avatar
utxo the webmaster 🧑‍💻 2y ago

It is not risky in any loss of funds sense, but your privacy is at risk. Whenever you send someone coins from this address, they will see your whole stack.

That's why we generally recommend using an address only once.

But it's not a hard and fast rule, just checkout the bitcoin rich list, there are billionaires who use the same address, it's fine.

Avatar
Duncan Cary Palmer 2y ago

Thanks a lot!🙏👍😁