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gglon
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March 17, 2013, 02:46:26 PM
 #1

Hello everyone. This is my first post here.
The one problem with bitcoin is that all your savings depend on the password you need to remember or store somewhere securely (piece of paper or air gaped machine). As long as you don't own much it's not a big problem. But if I had much I wouldn't like to relay on my memory since I can always forget it or be threatened to reveal it. That is why I think it would be nice to have some 3rd party you can trust on and store there your password/key or part of it. Now you can use standard bank vaults, but I think they are a bit expensive for storing several bits of information. Some internet bank would do I think. The identification of the customer could be done via secure cam transmission. What do you think?
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markqvist
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March 17, 2013, 03:02:38 PM
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I would definitely NOT want someone else to hold my private keys and/or passwords. That's why they are called private. I think the sense of security one might get from letting someone else handle security of ones wallet/keys/password is ultimately a false sense of security. As soon as you hand out your key to someone, you have lost control of it, and it could have been copied a hundred times. The instant someone might have had access to a private key or password, I consider it compromised. Call me paranoid Tongue

That being said, I will be happy to store all of your keys for only .1 BTC a month Tongue Wink Cool

(seriously, never hand them out to anyone)
markqvist
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March 17, 2013, 03:05:36 PM
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Btw, read this:

https://bitcointalk.org/index.php?topic=17240.0

Much better having your own "bank" than letting someone else  do it Smiley
gglon
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March 17, 2013, 03:56:26 PM
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If I were rich I wouldn't like other people know, that all my wealth relies on my password. I wouldn't feel safe walking the streets. It would be much easier for some robbers to threaten me and steal my money in just couple of minutes. Telling me to withdraw my money from some bank would much more hassle for them, I think.
dadri
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March 21, 2013, 04:32:54 PM
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I would definitely NOT want someone else to hold my private keys and/or passwords.

I think, a bitcoin bank would not get the private keys. They are more comparable to the wallet for physical coins and I don't know any bank, which stores the whole wallets instead of the money.
A bitcoin bank also could just save the BTC in an own secure "wallet" and guarantee every client his money. But actually every online exchange for bitcoins work this way.
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March 21, 2013, 04:43:58 PM
 #6

I think there has to be some kind of way to store money more securely as more people get into Bitcoin. At least something like a separate device, like your mobile phone, to confirm larger purchases. Maybe some kind of bank where you can go and show your ID and they'll release your money to you.
 
Gabi
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March 21, 2013, 04:45:50 PM
 #7

Just encrypt your wallet and upload it on some file storage services/google mail/msn mail
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