1) What are the best practises for having a bunch of bitcoin? You say you shouldn't keep it stored on your local machine but where? Keeping it stored on exchanges is kind of prone to failure in the bitcoin world. If you want to use a cold wallet you need a second computer that you don't plan to use for anything else and you need to learn linux or its pointless
2) Just because its new doesn't mean its better or makes more sense than the existing methods.
2) Just because its new doesn't mean its better or makes more sense than the existing methods.