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I feel what you're saying is true, but not really something that should matter in a criticism of BTC when BTC is actually easier to secure than other dilution p
by reedjosh 4y ago
I feel what you're saying is true, but not really something that should matter in a criticism of BTC when BTC is actually easier to secure than other dilution proof assets like gold.
3/5 multisig with collaborative custody would likely already be at least as safe as dollar checking accounts.
- knorker 4y agoI would also recommend against keeping assets as gold in your basement. > 3/5 multisig with collaborative custody would likely already be at least as safe as dollar checking accounts. I think that's off by orders of magnitude. If the whole US did this then I'd expect thousands to screw it up every year. "Just don't make any mistake, ever" doesn't scale. Not to more people, and not to any one person, given enough time. It's like running a yellow light (and the occasional red, when you thought it'd be yellow a bit longer). You can go your entire life never being in an accident. But there are accidents every day because people run yellow lights.
- reedjosh 4y agoI don't know how 3/5 multisig with collaborative custody would be less safe by orders of magnitude. At this point we'd both need to go do extensive research at the levels of a full time job to really prove one way or the other. Suffice it to say we disagree and you seem to have much more trust in institutions than I.