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In Latin America people kidnap you and take you around to ATMs at gunpoint until you've reached the withdrawal limit. This seems so much more dangerous with bit
by eloff 5y ago
In Latin America people kidnap you and take you around to ATMs at gunpoint until you've reached the withdrawal limit. This seems so much more dangerous with bitcoin wallets.
- reedjosh 5y agoThere are wallets that will show a fake lower balance in distress mode. Further, why walk around with all of your BTC available to you? If you really have enough to worry about gangs stealing it, put it in cold storage or on an exchange, but don't carry access to it around in your pocket the same way you wouldn't carry cash around in your pocket.
- HWR_14 5y agoA fake UI screen? Wow, that's useful. Good thing there isn't an easily verifiable public ledger with the true value of the account that the criminals can check while holding you at gunpoint. Meanwhile, you expect people to have cold storage where? IIRC, they cannot just memorize a private key, but they need an actual file on a device.
- reedjosh 5y agoNo, they can actually just memorize a seed phrase. The distress mode shows an entirely different wallet ID. So, you're wrong on both counts. https://en.bitcoin.it/wiki/Seed_phrase https://en.bitcoin.it/wiki/Seed_phrase > However, the bitcoin key generated is not the main key. It is effectively a completely separate wallet! https://coldcardwallet.com/?ref=producthunt https://coldcardwallet.com/?ref=producthunt