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> Withdrawals are time delayed with notifications delivered to your phones and emails. I see what they are trying to do here but why not just simply approve/de
by korzun 12y ago
> Withdrawals are time delayed with notifications delivered to your phones and emails.
I see what they are trying to do here but why not just simply approve/deny transactions? Time delay seems a bit weird.
I don't know much about it but if it's delayed by 1-2 hours attacker can simply make request at 4AM in the morning.
> Up to 97% of bitcoin is stored entirely offline in geographically distributed safe deposit boxes and private safes.
Again, I know what they are trying to do here but this does not make me feel safe. Drop the hardware and you have potential data loss.
How are the logistics? Are they going out on the same truck to multiple locations? Etc.
Just seems a bit too high level and does not contain any context.
- modeless 12y agoThe time delay is 48 hours. During that time they attempt to contact you at multiple previously specified email addresses and phone numbers (which can belong to multiple people if you want). This ensures that even if your account is hijacked without your knowledge and a withdrawal is started, you will be able to stop it before it happens. The offline storage is likely done in such a way that no one storage location is critical. This is easy to achieve with cryptography.