3 ms·

If one owns items of substantial value, something which is easy for a thief to take/hard to trace/almost impossible to recover once stolen, why would you carry

If one owns items of substantial value, something which is easy for a thief to take/hard to trace/almost impossible to recover once stolen, why would you carry it around with you unless you absolutely had to? Setting up your phone so it can directly access your crypto wallets appears to be the modern equivalent of carrying physical silver/gold/bearer bonds around in your backpack every day.

bell-cot 4y ago
It’s harder to ++ your social status and self-esteem if you don’t have proof of your buying into the bottom of the crypto pyramid handy, to show off and admire.
- crtasm 4y ago
  I guess a watch-only wallet doesn't cut it.
koolba 4y ago
> Setting up your phone so it can directly access your crypto wallets appears to be the modern equivalent of carrying physical silver/gold/bearer bonds around in your backpack every day. Arguably it’s much worse too as at least worth the physical bonds and metals, the thief has to carry them away. Normally that’s be transferred to a second or even third member of the crew. Digital assets are going to put the thief team members that are handed off the stolen goods out of work. Maybe they can learn to code.
- logifail 4y ago
  > Arguably it’s much worse too as at least worth the physical bonds and metals, the thief has to carry them away Admittedly once the crypto transfer is done there's no need to involve someone else to fence the goods, but note that one million USD of gold isn't actually that hard to move around (less than 17kg / 37lbs), although you'd stand out at airport security. I once carried a small quantity (by value) of silver coins through Manchester Airport, UK and attracted far more attention there than I wanted! You can get away with way more if you're Gene Hackman and have a beaten-up truck :) (Heist, 2001, directed by David Mamet...)
  - MerelyMortal 4y ago
    Any advice for anyone else who wants to take silver or gold through an airport?
    - logifail 4y ago
      > Any advice for anyone else who wants to take silver or gold through an airport? Solid metal will out like a sore thumb on an x-ray scanner, so don't even think it won't be detected or that it won't attract attention. (Even a bag of low-value non-precious coins in a carry-on bag can attract attention at screening. I've had that, too). Depending on how much you've got ask for a private screening? I ended up unpacking a pack of 1oz silver coins for the security agent to inspect and had bystanders watching the show. The coins didn't have that much value, but that's not what you'd want if you were planning on moving gold without attracting attention. Make sure you're within any limits/restrictions on transporting cash or cash-like valuables, eg for the EU it's €10k[0], this now includes gold coins/bars but apparently not silver. You could carry €10k of silver and still be able to walk, 1kg of Silver is about ~$720/€680/£580 at the moment. FWIW, I would feel considerably more comfortable taking - let's say - $10,000 (or equivalent) of cash through an airport than the same value in precious metal. With the right denomination bank notes it wouldn't need to even show as a bulge in your wallet. [0] https://ec.europa.eu/taxation_customs/customs-4/prohibitions-and-restrictions/eu-cash-controls_en https://ec.europa.eu/taxation_customs/customs-4/prohibitions...
      - panarky 4y ago
        > for the EU it's €10k If one carries a million dollar wallet in an encrypted file across a border is that a crime?
        JetSpiegel 4y ago
        Maybe, if when you reach the destination that wallet remains above 10k€.

bell-cot 4y ago

It’s harder to ++ your social status and self-esteem if you don’t have proof of your buying into the bottom of the crypto pyramid handy, to show off and admire.

crtasm 4y ago
I guess a watch-only wallet doesn't cut it.

koolba 4y ago

> Setting up your phone so it can directly access your crypto wallets appears to be the modern equivalent of carrying physical silver/gold/bearer bonds around in your backpack every day. Arguably it’s much worse too as at least worth the physical bonds and metals, the thief has to carry them away. Normally that’s be transferred to a second or even third member of the crew. Digital assets are going to put the thief team members that are handed off the stolen goods out of work. Maybe they can learn to code.

logifail 4y ago
> Arguably it’s much worse too as at least worth the physical bonds and metals, the thief has to carry them away Admittedly once the crypto transfer is done there's no need to involve someone else to fence the goods, but note that one million USD of gold isn't actually that hard to move around (less than 17kg / 37lbs), although you'd stand out at airport security. I once carried a small quantity (by value) of silver coins through Manchester Airport, UK and attracted far more attention there than I wanted! You can get away with way more if you're Gene Hackman and have a beaten-up truck :) (Heist, 2001, directed by David Mamet...)
- MerelyMortal 4y ago
  Any advice for anyone else who wants to take silver or gold through an airport?
  - logifail 4y ago
    > Any advice for anyone else who wants to take silver or gold through an airport? Solid metal will out like a sore thumb on an x-ray scanner, so don't even think it won't be detected or that it won't attract attention. (Even a bag of low-value non-precious coins in a carry-on bag can attract attention at screening. I've had that, too). Depending on how much you've got ask for a private screening? I ended up unpacking a pack of 1oz silver coins for the security agent to inspect and had bystanders watching the show. The coins didn't have that much value, but that's not what you'd want if you were planning on moving gold without attracting attention. Make sure you're within any limits/restrictions on transporting cash or cash-like valuables, eg for the EU it's €10k[0], this now includes gold coins/bars but apparently not silver. You could carry €10k of silver and still be able to walk, 1kg of Silver is about ~$720/€680/£580 at the moment. FWIW, I would feel considerably more comfortable taking - let's say - $10,000 (or equivalent) of cash through an airport than the same value in precious metal. With the right denomination bank notes it wouldn't need to even show as a bulge in your wallet. [0] https://ec.europa.eu/taxation_customs/customs-4/prohibitions-and-restrictions/eu-cash-controls_en https://ec.europa.eu/taxation_customs/customs-4/prohibitions...
    - panarky 4y ago
      > for the EU it's €10k If one carries a million dollar wallet in an encrypted file across a border is that a crime?
      - JetSpiegel 4y ago
        Maybe, if when you reach the destination that wallet remains above 10k€.