5 sats \ 5 replies \ @hodlpleb 26 Apr \ on: Something about Bitcoin that scares me security
  • Geographically distribute your keys
  • Multi-sig wallets
  • Don't go around talking about bitcoin in public
  • Keep a smaller amount in a hardware wallet that you could send if necessary. Enough value to be believable but not your whole stack.
If your wallets and keys are located in different places and you actually cannot send funds without a high level of difficulty, it will reduce the chance that you actually lose funds. Even if you are kidnapped, you need your keys to move funds. If only you know where the keys are, it gives Stacker News more time to assemble a renegade unit of bitcoin vigilantes to come to your rescue.
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0 sats \ 4 replies \ @gatto OP 26 Apr
"Don't go around talking about bitcoin in public" is fine now, but in a future when bitcoin is globally used won't be so protective.
Anyway, probably I'm too pessimistic and I search for semplicity where it cannot exist.
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0 sats \ 3 replies \ @hodlpleb 26 Apr
I mean ... I don't walk around talking about how much money I have in my bank account, why would this change with bitcoin? Maybe because obvious that you have "some" bitcoin, but nobody needs to know how much.
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0 sats \ 0 replies \ @Signal312 27 Apr
It's actually amazing to me - quite a few normal people - who would NEVER dream of asking me how much I have in my investment accounts - have asked me (when it came up that I was interested in bitcoin) "How much bitcoin do you own?"
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0 sats \ 1 reply \ @SpaceHodler 26 Apr
If you have some bitcoin now, you'll have a lot of bitcoin in the future. Nominally the same, but much more in real terms.
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0 sats \ 0 replies \ @_stacktoshi 26 Apr
Not necessarily. You might want to entrust it to a third party (uncle Jim who has lots of guns and a posse) or you might want to enjoy life or donate it to worthy causes. Or the classic: you lost it in a boating accident.
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