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The chance that a Bitcoin billionaire has their private key held in a way that easily be robbed is pretty low. Most will be using additional cryptographic secur
by Stevvo 6y ago
The chance that a Bitcoin billionaire has their private key held in a way that easily be robbed is pretty low. Most will be using additional cryptographic security. e.g. Shamir's Secret Sharing.
- mrtksn 6y agoKilling a bitcoin billionaire can also be a way to inflate its value. I can imagine one bitcoin billionaire killing others to do just that in order to reduce the supplies.
- gruez 6y agoBitcoin's market cap is currently around $1T. Killing someone with $1B in bitcoins would only increase the value of the remaining coins by 0.1%. That seems horribly risky for a very small gain.
- ac29 6y agoThats only true if you assume 100% of coins are actually accessible. The true market cap of bitcoin is always going to be less than the number of coins that have been mined would imply, due to losses.
- Stevvo 6y agoShamir's Secret Sharing could also be a solution to this, with parts distributed to your heirs and the threshold being the number of parts you distribute to others, keeping an additional part for yourself.