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When someone writes: > Soon you will see people saying you should have done this or that complicated thing and you answer: > Is his PGP key on his hardrive o

When someone writes: > Soon you will see people saying you should have done this or that complicated thing and you answer: > Is his PGP key on his hardrive or a smartcard? you're proving their point.

bawolff 4y ago
But is it a reasonable point? I would assume that if you are a major player in the bitcoin world, you should do complicated things to secure yourself. Its sort of like if someone wins the lottery, and tells the world they are putting the money under their mattress in their home. Its not unreasonable to say that such a person faces more risk than an ordinary person and should install an alarm system or something.
- psychphysic 4y ago
  Exactly they are ignoring that this is a solved problem. If you don't take up the easy convenient solution to your problem that's on you. Hopefully this is a starting red flag for the bitcoin Dev team to implement hardware wallet support.
- AnimalMuppet 4y ago
  You would assume. But, empirically, users don't - even users who should know better. Users don't. If your model doesn't take that into account, your model is broken. The Bitcoin model is broken. It very intentionally got rid of all the institutions that regulate and control finance, and in doing so, it got rid of everything that protects regular people from the wolves. The regular people aren't up to the task of protecting themselves, and they regularly show it. The model is broken.
  - bawolff 4y ago
    So to be clear - i agree that bitcoin is a shitshow, haven for fraudsters and generally sucks. But to the specific point, there is no model that fully takes this into account. There is no model that puts risk to zero. There will always be adversaries that can attack you if the payoff is large enough. There will always be people with increased risk exposure who have to take special precautions because the effort/reward calculus makes sense for malicious people to attack them. The reason bitcoin sucks is not because its model includes such situations; it sucks because the bar for someone to be the type of person who has to care about such things in bitcoin is so much lower than in traditional banking.
psychphysic 4y ago
Why is it his PGP key being compromised proves bitcoin is bad? That's the absurd confirmation bias going on in this thread. Cryptos piffy catchphrase is be your own bank. you can own security far beyond a bank vault for like £40 if you get a ledger nano...

When someone writes: > Soon you will see people saying you should have done this or that complicated thing and you answer: > Is his PGP key on his hardrive or a smartcard? you're proving their point.

bawolff 4y ago

But is it a reasonable point? I would assume that if you are a major player in the bitcoin world, you should do complicated things to secure yourself. Its sort of like if someone wins the lottery, and tells the world they are putting the money under their mattress in their home. Its not unreasonable to say that such a person faces more risk than an ordinary person and should install an alarm system or something.

psychphysic 4y ago
Exactly they are ignoring that this is a solved problem. If you don't take up the easy convenient solution to your problem that's on you. Hopefully this is a starting red flag for the bitcoin Dev team to implement hardware wallet support.
AnimalMuppet 4y ago
You would assume. But, empirically, users don't - even users who should know better. Users don't. If your model doesn't take that into account, your model is broken. The Bitcoin model is broken. It very intentionally got rid of all the institutions that regulate and control finance, and in doing so, it got rid of everything that protects regular people from the wolves. The regular people aren't up to the task of protecting themselves, and they regularly show it. The model is broken.
- bawolff 4y ago
  So to be clear - i agree that bitcoin is a shitshow, haven for fraudsters and generally sucks. But to the specific point, there is no model that fully takes this into account. There is no model that puts risk to zero. There will always be adversaries that can attack you if the payoff is large enough. There will always be people with increased risk exposure who have to take special precautions because the effort/reward calculus makes sense for malicious people to attack them. The reason bitcoin sucks is not because its model includes such situations; it sucks because the bar for someone to be the type of person who has to care about such things in bitcoin is so much lower than in traditional banking.

psychphysic 4y ago

Why is it his PGP key being compromised proves bitcoin is bad? That's the absurd confirmation bias going on in this thread. Cryptos piffy catchphrase is be your own bank. you can own security far beyond a bank vault for like £40 if you get a ledger nano...