Re:Top Bitcoin dev gets owned
by lampshades on Sunday January 01, 2023 @06:25PM
(#34212249)
> makes up hypothetical situations
> attacks his own hypothetical situations
Re:Top Bitcoin dev gets owned
by m-richthoven on Sunday January 01, 2023 @06:35PM
(#34212363)
The site is slowly replacing all users with ChatGPT instances that don’t comprehend grammar or tone.
Re:Top Bitcoin dev gets owned
by tsimionescu on Monday January 02, 2023 @01:55AM
(#34215135)
No, I was attacking your idea that it's somehow common sense that the best way of storing BTC is by working with multiple banks (!!!) to store various key fragments, by showing a more extreme version.
Of course, if someone did follow your example, and then the government compelled the banks to hand over access to the physical tokens, other people similar to you would come out and say "not your keys, not your bitcoin", or insist on even more byzantine forms of secret protection.
Not to mention, with your proposed scheme, actually using your BTC becomes significantly slower than any international bank transfer.
What do you think banks do? When you store a -lot- of value like a pile of gold bars, you are going to need more than a foam and aluminum hotel safe.
Re:Top Bitcoin dev gets owned
by tsimionescu on Monday January 02, 2023 @03:19AM
(#34215613)
For me as a consumer, storing money in a bank is far simpler and more convenient and more likely to not get me burned than it is to store various hardware tokens with various banks (having to physically retrieve them when I actually want a purchase).
So, if the only way to secure BTC is to this cold wallet dance, then it's clear BTC is not a usable store of value compared to USD.
At some point this level of care becomes more than absurd.