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Comment on El Salvador Will Keep Buying 1 Bitcoin Daily Until BTC 'Becomes Unaffordable' With Fiat Currencies, Says President Bukele – Featured Bitcoin News

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NotMyOldRedditName@lemmy.world ⁨9⁩ ⁨months⁩ ago

It’s ability to be stolen really comes down to was the password to it ever written down or did they not use a password.

If they didn’t write it down, you could conceivably keep it safe from theft as long as the people that know the password don’t give it up if tortured.

Also breaking it up into multiple wallets with different passwords that not everyone knows would limit a complete theft.

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dutchkimble@lemy.lol ⁨9⁩ ⁨months⁩ ago
I think they should do something dramatic like having a room where the NOC List was stored, but with an air vent on the door instead of the ceiling.

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Buttons@programming.dev ⁨9⁩ ⁨months⁩ ago
It has to be easy enough to move the Bitcoins that it can be done when needed. For example, if you split the password up among too many people, then you could “disappear” one of those people and then the Bitcoins suddenly cease to exist (or practically so).

So there’s a balance. If it’s easy to move the Bitcoins, then a thief can find a way to move all the Bitcoins into their own wallet. Or, if it’s very difficult to move the Bitcoins, then an adversary can find a way to make it impossible to move the Bitcoins, essentially destroying them.

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