Does a long time storage wallet need to be online?

I have a offline computer that has never been connected to a network. I use this computer for long time storage of sensitive data, all data transfer to and from this computer is done by USB memory. I want to move most of my bitcoins to this computer, so will it work this way:

  1. Install bitcoin wallet on the offline computer and generate public address.
  2. Send bitcoin from my online wallet to the address of the offline wallet.
  3. Download bitcoin blockchain on a online computer and move it to the offline computer by USB memory?

Recent Questions – Bitcoin Stack Exchange

As a new player in the game, what are some sure fire ways to get started in Bitcoin and know your money and time are being utilized to the best of the industries abilities? (

Coming from a beginners computer science background, I feel I speak for all of us when I say I am interested in finding the best ways to navigate the Bitcoin world.


Bitcoin usage over time: investment vs spending

I am considering investing in Bitcoin. Here is my analysis:

1) Some people buy bitcoins as a method to invest/save money, other also spend them directly for purchasing stuff “here and now”. First question is how ever can we estimate the ratio:

bitcoins_spent_to_buy_stuff / bitcoins_purchased_for_investment

(For simplicity we may assume that if the guy didn’t spend a bitcoin during 3 months, that counts as investment)

2) Why do I care about that ratio? I have a hypothesis that if that ratio increases over time, that means that Bitcoin is becoming a medium of exchange. Otherwise (the ratio is constant or decreasing) Bitcoin is a bubble that is fed by people’s hope that one day it’s going to become a medium of exchange. I don’t have anything against hope alone, but if that hope doesn’t have at least some supporting evidence, then I can reasonably call Bitcoin a bubble.

2a) There could be a case when “investing userbase” is rising quicker than “spending userbase”, then we would care not only about the ratio, but also about absolute value (number of bitcoins used over some period of time for purchasing stuff). So the second question is is there something wrong with my line of reasoning?

Recent Questions – Bitcoin Stack Exchange

Currently only 4k unconfirmed transactions. Once again, the sky didn’t fall. Much FUD was spread, alarmists and concern trolls had their fun, and now its over and everything is fine, just like it was fine the last time, and just like it will be fine the next time.

submitted by /u/Cryptolution
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