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Same with gold, etc. You could simply store your bitcoin in a "bank" like Coinbase and they would secure your bitcoin for you.

• deleted 11y ago
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• lisper 11y ago
  > Same with gold Not quite. Gold imposes physical constraints and attendant risks that bitcoin doesn't: gold is heavy, and you have to store it someplace physical. If the location of your hiding place is discovered, it's hard to move. And you have to be physically present to accept the initial delivery. None of these are true for bitcoin. For the kidnapping scenario you still have to take physical risks, but once that is accomplished the extortion itself can be conducted form the comfort of your living room, wherever that may happen to be.
  • jonknee 11y ago
    Gold is heavy, but not traceable (at least with a little bit of effort--melt it down and re-cast, you'll never trace it!). You wouldn't be able to do anything with Satoshi's stolen BTC.