What exactly is cold storage?
What exactly is cold storage? I've been reading some answers and what I gather is that its simply an off-grid storage of your private user key. Off-grid meaning its completely disconnected from any network meaning it can only be stolen if one gains physical access to the usb stick/paper wallet and manually extracts the information giving them possession of the ability to move your bitcoins (which are sitting in plain sight on the blockchain) to wherever they please which effectively gives them ownership of said coins (sorry for the run-on). Unless you have a multisig wallet and they're still SOL.. so there are no coins in your "cold storage" wallet, just the key to be able to distribute/spend them as you see fit. That sum it up? I had the oppurtunity to buy 100 BTC when they were at $90 a coin. $9000 into 1.7 million today.. Hell I found an old wallet with 26 cents worth of btc which is now worth $18.10. I'll be cursing myself for the rest of my life. 4 months wor...