3 ms·
Because locking is just half of the problem. A thief in a gold vault still has to carry the gold out, and that is difficult. A thief in a vault with a bitcoin
by 21 9y ago
Because locking is just half of the problem.
A thief in a gold vault still has to carry the gold out, and that is difficult.
A thief in a vault with a bitcoin wallet just needs to write the private keys/seeds on a piece of paper (yes, I know about secret sharing schemes)
So bitcoin is much more vulnerable to a single person who fucks up or is malicious.
- spiorf 9y ago2 of 3 multisig. Now the thief has to compromise two sites, at the same time. Or password protect the seed. Or both.
- TheCoelacanth 9y agoStill easier than carting away thousands of pounds of gold without getting caught.