7 ms·
I think this is made for rich people who don't understand computers let along technicals of bitcoins, who want to own hundreds of thousands of dollars or even m
by meric 10y ago
I think this is made for rich people who don't understand computers let along technicals of bitcoins, who want to own hundreds of thousands of dollars or even millions worth, but don't want to worry their computer getting hacked or just even stop working, everyone has had that happen before.
- twblalock 10y agoThis trust could be hacked, and it is probably a much larger target than any individual investor's bitcoin wallet. I think the risk of this trust having all of its bitcoin stolen, leaving the investors completely screwed, is pretty high.
- Ntrails 10y agoFor some reason I suspect that were the trust hacked and all your bitcoin nabbed, then you'd also discover that there was no recourse to recoup from anyone due to the way the corporation is set up?
- twblalock 10y agoIt wouldn't matter. Even if you had legal recourse, the trust wouldn't have any money to pay you with.
- woodman 10y agoIf they actually use cold storage - as they say they do, then those bitcoins aren't going to be stolen. It would be far more likely that the system that accounts for ownership would get attacked, and that is a risk that existed long before bitcoin (and a problem solved by direct bitcoin ownership).