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What I wonder, is if Mark was actually the only one internally who had access to the cold storage wallets, what would happen if he got hit by a car and died? H
by TomGullen 13y ago
What I wonder, is if Mark was actually the only one internally who had access to the cold storage wallets, what would happen if he got hit by a car and died? Have other exchanges got plans for this sort of thing? Some corps don't let their programmers fly on the same aeroplane.
I wouldn't want to own that many Bitcoin and be the only one who has access also because someone could profit considerably from your death.
- M4v3R 13y agoAt Bitalo [0] we use multi signature wallets all over the place - for user wallets (so we cannot move them without users permissions), but also for company wallet for storing fees. For the latter, all board members have keys for them, but you only need a subset of them to access the funds. That way even if one of them loses the key or something bad happens to them, coins can still be moved by the others. For example, you can have 2-of-4 wallets, where 4 people hold the keys, and you need only 2 of them to move funds. [0] https://bitalo.com https://bitalo.com
- hierro 13y agoPlease, don't ever send money nor coins to these guys, they're scammers. M4v3R used to run http://bitmarket.eu http://bitmarket.eu and lost all the users' coins while running some sort of (according to his own words) "hedge fund" around December 2012. Around April 2013, with bitcoin around $50 he "kindly" offered to reimburse everyone over time, valuating each coin at 10€ arguing that it was their value when he lost them. I told them wanted my 10btc, not money, and they still owe me to this day. See https://bitcointalk.org/index.php?topic=134208.0 https://bitcointalk.org/index.php?topic=134208.0