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Ask: What are the mechanics of how Coinbase moves its Bitcoin?
Do several executives meet in a special room at a certain hour, with their keys on paper/usb, and type them into an air-gapped machine one-by-one?
How do they handle a lost key, do they have to move $1 billion+ of Bitcoin to a new wallet?
- zaroth 9y agoIt's possible they spend a lot of money complying with a very strict security protocol for how much money is left in cold-storage and how much money is hot. It's possible there's not a lot in cold storage at all. I'm not sure it has been or can be proven. But if they haven proven cold-storage and strict protocols, I can only hope they do.
- elorm 9y agoMost of the answers will be found here https://engineering.coinbase.com/how-coinbase-builds-secure-infrastructure-to-store-bitcoin-in-the-cloud-30a6504e40ba https://engineering.coinbase.com/how-coinbase-builds-secure-...