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Are you saying that you would keep the bitcoin equivalent of, say, USD$100,000 in this hypothetical secure location? For bitcoin to become a viable alternative
by jaysonelliot 15y ago
Are you saying that you would keep the bitcoin equivalent of, say, USD$100,000 in this hypothetical secure location?
For bitcoin to become a viable alternative currency, everyone's wallet needs to be distributed as widely as a torrent file, and secure enough that only the owner can ever open it.
- DenisM 15y agoSure. I would store it encrypted in the cloud, and I would give the copy of the key to my trusted friends, relatives,my lawyer, and my accountant. Better yet, I would give halves of the key to all those people, with some redundancy.
- mike_esspe 15y agoI think this is a great idea for bitcoin startup, especially generating halves of encryption keys.