Secure Bitcoin self-custody: Balancing safety and ease of use | Crypto Craft

  • Secure Bitcoin self-custody: Balancing safety and ease of use

    From cointelegraph.com

    Bitcoin’s supply is capped at 21 million, but a significant proportion of that total sum is likely lost forever. This situation is due to a variety of reasons such as lost private keys and discarded storage devices containing substantial amounts of Bitcoin (BTC). When Bitcoin owners are not being careless with their wallet passwords, they can sometimes be targeted by hackers looking to steal their precious crypto. Those who utilize third-party custodial solutions place their Bitcoin fortune at the mercy of the security protocols adopted by such services. Indeed, several attack vectors are constantly being utilized ... (full story)

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Not-KPMG
Jan 17, 2021 1:25pm
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Interesting story.


I spoke with some half-intelligent moron who had that PERFECT solution to Bitcoin keys problem - he printed his key (about 56 characters) on paper, cut it 3 times with scissors and deposited in 4 banks (banks safes).


Sure, I said, moron.
What about when 1 bank burns down or they steal your 1/4 key. What then???


The moron went speachless


Hi dumbo, I continued, what about when they open your safe, realize it's part of Bitcoin key, and just replace it with another bunch numbers???

Then they'll call you on the phone to negotiate 50% of your holdings 🤔💰

They don't need the other 3 parts




Moron went running to the banks


Good Not-KPMG
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Not-KPMG
Jan 17, 2021 2:35pm
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Here's our INTELLIGENT thread.
On Bitcoin and others.


https://www.cryptocraft.com/thread/649649-the-rise-of-crypto-bitcoin-ltc-ether

Please vote on first page


Check all over the thread.


First post - Bitcoin was 967 dollars
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Not-KPMG
Jan 17, 2021 1:19pm
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Need to use your brain.


Or trust some thieving bank
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