piramida
Legendary
Offline
Activity: 1176
Merit: 1010
Borsche
|
|
March 05, 2013, 03:10:03 PM |
|
I think Magicaltux maybe the only one with access to the key.
Now *that* would be disastrous. I don't even talk about an accident leading to a loss of 100mil; let's say people are kidnapped left and right for 1% of that amount.
|
i am satoshi
|
|
|
|
Fiyasko
Legendary
Offline
Activity: 1428
Merit: 1001
Okey Dokey Lokey
|
|
March 05, 2013, 03:27:36 PM |
|
Too many of these threads, C'mon people, atleast give us reasons as to why you think so in the OP
|
|
|
|
oakpacific
|
|
March 05, 2013, 03:31:37 PM |
|
I think Magicaltux maybe the only one with access to the key.
Now *that* would be disastrous. I don't even talk about an accident leading to a loss of 100mil; let's say people are kidnapped left and right for 1% of that amount. However many parts you split your key, you could still just randomly kidnap anyone of the keyholders and coerce all the others to cooperate to give you the money you want, this also applied to traditional banking, you simply can not eliminate the risk of kidnapping. If the kidnapper can not coerce anyone else but MT, then they need to have physical access to the offline computer to finish the transaction(I meant he got the key to access the computer, not that he memorized the private key itself).
|
|
|
|
piramida
Legendary
Offline
Activity: 1176
Merit: 1010
Borsche
|
|
March 05, 2013, 03:50:48 PM |
|
Yeah, the question is tricky, but still, at least two people should hold each part of the key, and they should not ever fly the same airplane Or better yet, bank vault account holder with a clear will about inheritance. I generally don't think a single human is reliable enough for any task, we are rather fragile.
|
i am satoshi
|
|
|
psybits
Legendary
Offline
Activity: 1386
Merit: 1000
|
|
March 05, 2013, 03:55:08 PM |
|
Yeah, the question is tricky, but still, at least two people should hold each part of the key, and they should not ever fly the same airplane Or better yet, bank vault account holder with a clear will about inheritance. I generally don't think a single human is reliable enough for any task, we are rather fragile. Maybe a p2p articial intelligence based on Bitcoin technology could hold the keys for safe keeping?
|
|
|
|
bullioner
|
|
March 05, 2013, 04:24:27 PM |
|
Nothing too difficult, you just tear the paper in half, and put it in two secure storage places, also everyone has access to the storage place should sign a NDA. Doubt they will think it's something worth further ado.
Don't do this. Split the key securely, for example using Shamir's secret sharing algorithm.
|
|
|
|
|
Delicieuxz
|
|
March 05, 2013, 06:21:20 PM |
|
Seconded I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ... I agree with the $50 prediction. As for the hacking of exchanges, unfortunately as the price of bitcoin increases, so does the incentive to hack exchanges. So I think we are actually more likely to see exchange hacks/thefts/inside jobs in the coming weeks. If you think about it, bitcoin itself is ridiculously simple to secure, though tedious. What needs to be done, that's tedious, to secure it? Just a curiosity.
|
|
|
|
Jaw3bmasters
Full Member
Offline
Activity: 196
Merit: 100
Another block in the wall
|
|
March 05, 2013, 06:33:34 PM |
|
Correction. Bitcoin will hit $60 this month.
|
In Cryptography we trust.
|
|
|
move_zig
Member
Offline
Activity: 60
Merit: 10
|
|
March 05, 2013, 07:11:08 PM |
|
Yeah, $50 seems about right, following the trend from January and February.
Yes, but the real question is - when does it end? $100? $500? More? I imagine somewhere from $200 to $400
|
|
|
|
donjoe
|
|
March 05, 2013, 07:16:21 PM |
|
I imagine somewhere from $200 to $400 You're doing it rong. You should use the same horizontal, not vertical interval, because it's more likely that the duration the optimism survives will be the same, not the doubling rate. The doubling rate is obviously lower this time.
|
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
March 05, 2013, 07:52:00 PM |
|
I imagine somewhere from $200 to $400 You're doing it rong. You should use the same horizontal, not vertical interval, because it's more likely that the duration the optimism survives will be the same, not the doubling rate. The doubling rate is obviously lower this time. That would mean: soon. But I don't buy it.
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
molecular
Donator
Legendary
Offline
Activity: 2772
Merit: 1019
|
|
March 05, 2013, 07:56:59 PM |
|
the volume in currency says: you can't compare what's happening now to 2011:
|
PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0 3F39 FC49 2362 F9B7 0769
|
|
|
donjoe
|
|
March 05, 2013, 08:26:07 PM |
|
That would mean: soon.
But I don't buy it. No, it doesn't seem realistic on its own. It will probably be something in between, with optimism surviving longer because of the slower growth, but I still don't see any reason to assume there will be the same number of doublings.
|
|
|
|
oakpacific
|
|
March 06, 2013, 01:11:32 AM |
|
Seconded I don't really see how it can go down - Bitcoin seems to have evolved and many of the problems such as hackers taking off with very large chunks of BTC from exchanges and crashing prices seem to be a thing of the past ... I agree with the $50 prediction. As for the hacking of exchanges, unfortunately as the price of bitcoin increases, so does the incentive to hack exchanges. So I think we are actually more likely to see exchange hacks/thefts/inside jobs in the coming weeks. If you think about it, bitcoin itself is ridiculously simple to secure, though tedious. What needs to be done, that's tedious, to secure it? Just a curiosity. http://bitcoinarmory.com/using-offline-wallets-in-armory/See the offline transaction part.
|
|
|
|
mb300sd
Legendary
Offline
Activity: 1260
Merit: 1000
Drunk Posts
|
|
March 06, 2013, 01:16:18 AM |
|
Bitcoin will hit $50 this month week.
|
1D7FJWRzeKa4SLmTznd3JpeNU13L1ErEco
|
|
|
Mike Christ
aka snapsunny
Legendary
Offline
Activity: 1078
Merit: 1003
|
|
March 06, 2013, 01:17:09 AM |
|
Feels like it was just a week ago people were saying it'd never hit $30
|
|
|
|
justusranvier
Legendary
Offline
Activity: 1400
Merit: 1013
|
|
March 06, 2013, 03:06:45 AM |
|
Bitcoin will hit $50 this month week.
Probably before I wake up in the morning.
|
|
|
|
Herodes
|
|
March 06, 2013, 04:49:21 AM |
|
Bitcoin will hit $50 this month week.
Probably before I wake up in the morning. LOL
|
|
|
|
|