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You'd keep in yourself a small amount of Bitcoin. You'd keep at home a bigger amount. You'd keep in a safe place the rest. Exactly as with cash.
by Lucadg 7y ago
You'd keep in yourself a small amount of Bitcoin.
You'd keep at home a bigger amount.
You'd keep in a safe place the rest.
Exactly as with cash.
- junipertea 7y agoYou put cash in a bank.
- Lucadg 7y agoYou can put your seed words in a bank safety deposit box.
- davidgerard 7y agoSafety deposit boxes turn out not to be secure or guaranteed. https://www.bloomberg.com/opinion/articles/2019-07-22/don-t-put-your-valuables-in-the-bank https://www.bloomberg.com/opinion/articles/2019-07-22/don-t-...
- Lucadg 7y agoIt depends on the country but I agree. Being programmable money I expect better solutions to come in the future. This is a recent and interesting one https://blog.trezor.io/shamir-backup-the-revolution-of-private-keys-backup-is-here-858687ed7fe7 https://blog.trezor.io/shamir-backup-the-revolution-of-priva...
- Fnoord 7y ago> Based on a cryptographic algorithm created by Adi Shamir, publicly known as Shamir’s Secret Sharing, Shamir Backup is a revolution in how you use, store, and protect the backup of your private keys. A "revolution". They just applied SSS. Hardly rocket science.