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Multisignature wallets mean that you can beat the credentials out of a person and still not be able to access the coins. You would have to figure out who else h
by seansoutpost 10y ago
Multisignature wallets mean that you can beat the credentials out of a person and still not be able to access the coins. You would have to figure out who else had keys and beat then too. Raising the difficulty a non-trivial level.
- vkou 10y agoFor the wallet to be useful, the person you are beating will either know who else needs to be beaten, can be compelled to withdraw their funds under duress, or in the case of a centralized counterparty, like a bank, can be trivially compelled by a government bearing a lawful order, to sign off on a money transfer. If none of those means of getting you to pay work out, they can always leave you to enjoy your internet money in jail.
- stale2002 10y agoThe issue is that they have no idea how much money you 'actually' have. If someone threatens you with a wrench, you simply do what they ask you to do and provide a password to your "account" that conveniently doesnt have much money in it. "yes officer! I have done exactly what you asked me to do. Here is all the electronic money that I own. "
- st3v3r 10y agoOk, but how does that protect ME from that $5 wrench?
- abrkn 10y agoYou can setup a hardware wallet with plausible deniability[1] [1] https://www.reddit.com/r/TREZOR/comments/2e8a9i/can_someone_provide_a_stepbystep_tut_to_set_up/ https://www.reddit.com/r/TREZOR/comments/2e8a9i/can_someone_...