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Banks are fortified and guarded for a reason. If you have money in bitcoin, it's only as secure as your person and whatever you use to access your crypto asset
by beloch 1y ago
Banks are fortified and guarded for a reason. If you have money in bitcoin, it's only as secure as your person and whatever you use to access your crypto assets.
If you had a million in gold, would you leave it on your desk? Walk around with it on the street? Your odds of getting to where you're going with the gold are pretty good in most places, but it's still a big risk. Brag about or show that gold off to somebody, as many in this story did, and you rapidly become a target.
- bufferoverflow 1y agoYou can store your private keys encrypted in a safety deposit box. You can store 3 copies in 3 different banks. It only costs $15-30 per year per box.
- beloch 1y agoThis is sensible, but how many people do it?
- acdha 1y agoThat helps, but only so much due to the inherent lack of security. We’ve already seen cases where they hold a family member hostage demanding someone turn over the keys, and you’re not getting things like duress procedures for $15/year.
- bufferoverflow 1y agoIn case of kidnapping having your money in a bank won't help you.
- acdha 1y agoHave you ever tried to withdraw a million dollars?