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Imagine if Fort Knox had a magic key allowing the bearer to walk in and out of it, at will, with as much riches as they wanted. Now imagine that bearer is a p
by throwaway657656 2y ago
Imagine if Fort Knox had a magic key allowing the bearer to walk in and out of it, at will, with as much riches as they wanted.
Now imagine that bearer is a politician who blames the North Korea for the missing assets.
Or imagine that key is damaged and no one can get the coins. It is lost forever.
I almost hope this stupid experiment is done on a state level, rather than national, and that it fails miserably as cautionary tale.
- celticninja 2y agoLaundering it would be very difficult. NK can do it because they have a nation state that will protect them. That's the only way to be able to spend that money. So sure steak the keys and live a life of luxury in north Korea I guess.
- free_bip 2y agoUnfortunately, there are plenty of DEX's that will launder your bitcoin of questionable providence into completely untraceable Monero.
- lern_too_spel 2y agoOr Russia or Belarus or Georgia.
- npoc 2y agoI assume you haven't heard of m-of-n multi-signature vaults?
- ttyprintk 2y agoByBit heard of n-of-m.
- npoc 2y agoShame they trusted information they read in a web browser rather than verifying it on an independent offline device.... The average bitcoiner pleb with a single air-gapped signing device has better security. It was a rookie error, helped by the overly complex nature of Ethereum.
- throwaway657656 2y agoThat's my point. It reminds me of when the greatest smart contract writers in the world got "hacked" by what was in the retrospect, a rookie error. We now have ETH and ETC which no one at the time (I'm a former miner) would have thought was possible.
- npoc 2y ago"Smart" != common sense. K.I.S.S., especially when it comes to money. Tick tock, next block...
- DANmode 2y agoImagine you could actually know if Fort Knox had what you thought it did, to the bar.