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I highly doubt their BTC reserve is connected to the internet.
by desumeku 2y ago
I highly doubt their BTC reserve is connected to the internet.
- wyck 2y agoIt's likely in cold storage , but the tracker is using the wallet address. For example, about 1 hour ago they bought 1m in BTC: https://bitcoin.gob.sv/tx/83ddfe67485d322e9c017d8ba6aee53d8f0e47d9cc261c75ba9f9621b0add2b1 https://bitcoin.gob.sv/tx/83ddfe67485d322e9c017d8ba6aee53d8f... The address is : 32ixEdVJWo3kmvJGMTZq5jAQVZZeuwnqzo
- lern_too_spel 2y agoIt's just a private key. You don't "connect" private keys to the Internet. You just have poor processes keeping it hidden while not losing it. I'm surprised you think El Salvador can do that.
- desumeku 2y agoIn order for transactions to be signed with the private key, the device holding them has to be connected to the internet, or at least be able to interface with another device that is. It is highly likely that anything involving their BTC reserves requires someone to be physically present at some sort of facility and it is 100% not available for hackers to just siphon whenever they wish with a virus. If possible, it would at least require physical infiltration.
- wyck 2y agoThat's what cold storage is. And more than likely cold storage they requires multiple signatures, to prevent any single entity from being compromised.