AlcoHoDL
Legendary
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Activity: 2324
Merit: 4056
Addicted to HoDLing!
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@AlcoHoDL It's always great to read your explanations! My only concern would be if the thief is smart enough to torture a bitcoiner to the point of having him to release the full passphrase. This is so scary to even think.
Thanks. Yes, it's scary as hell, and you're right, it could happen. What you can do to try to circumvent this, is to have not only one, but two, or three, or more, different passphrases. Your total stash: 100 BTC. <--- I wish!No passphrase (plain seed): 3.7 BTCPassphrase 1: 17.3 BTCPassphrase 2: 79 BTC-- Thief kidnaps you and forces you to reveal your Trezor's PIN. -- You resist as much as you can, but eventually you reveal the PIN. -- Thief takes the 3.7 BTC, but suspects you have an additional passphrase. -- Thief tortures you to reveal it. -- You endure the torture as much as you can (you must, and be prepared to take a good beating). -- Eventually, you break down in extreme distress, and you reveal passphrase 1. -- You repeatedly plead with the thief to let you have a few BTC, even just one. -- Thief takes the 17.3 BTC, and notices that 17.3 + 3.7 = 21 BTC. -- Thief thinks your total stash is the "one in a million" 21 BTC that many HoDLers aim for. -- If you're lucky, he takes it "all" and lets you go. -- You are left with a healthy 79 BTC, accessible using passphrase 2. This is just one strategy that uses common thinking to try to persuade the thief that you have no more coins. Of course, the best thing to do is to try not to get into this situation in the first place. Try not to advertise your stash (obviously), and don't give away even minor hints about how many coins you have. Easier said than done though... Even the mere mention of being involved in Bitcoin, combined with a few major changes in your life (something expensive you've bought, resigning from your job, etc.) would point to a healthy Bitcoin stash. That's why I believe all those tools we have (additional passphrase, plausible deniability, Shamir's Secret Sharing, and others), can help in our attempts to circumvent unfortunate situations like the one you describe. Bitcoin has made many of us take security matters very seriously, much more seriously than before, when banks and other financial institutions played that role. Bitcoin is cash, and has all the benefits (and drawbacks) of cash. Imagine having $1M in banknotes or gold under your bed. Wouldn't you feel stressed about it? I would. It's the same with Bitcoin, but the fact that it's not made of matter, but of information that can be stored and processed digitally, enables us to use certain tools, such as the ones mentioned earlier, to help protect our coins. "Be a bank" is revolutionary and gives us total control of our finances, but can also be a burden if we're not adequately prepared to take the responsibility and care it requires. Stay safe, and, when it comes to Bitcoin, apply the Manhattan Project's motto: http://exploreoakridge.com/who-were-the-calutron-girls-of-oak-ridge/--- Edit: JayJuanGee beat me to it. Thanks Jay.
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Globb0
Legendary
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Activity: 2674
Merit: 2053
Free spirit
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September 12, 2020, 09:20:23 AM |
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the 3rd monkey is about to blow his own head off
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El duderino_
Legendary
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Activity: 2464
Merit: 11777
BTC + Crossfit, living life.
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heslo
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September 12, 2020, 11:03:51 AM |
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Hah, pathetic. Can't wait till that bcash shitcoin dies. Yet another split incoming so I'd say it's getting close
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Cryptotourist
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September 12, 2020, 11:11:15 AM Merited by JayJuanGee (1) |
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I am not going to put it past you, if you are observing that certain times of the year seems to end up in higher levels of short term BTC price movements, and I would not rule out the end of the year and even beginning of the year to have that kind of a BTC price dynamic....
Yes. And, sure another question, pass through or quickly enter and correct?
Slow and firm uptrend, spikes and corrections included. The channel you provided ($17,250 - $23,500) is a good example, before we move on to the next. Time will tell if your hunch for passing through that price zone is correct, or premature.
Premature, I love that word. Followed by: sorry honey I'm not proud, sway over and we'll make the stars swing again. There are sure a lot of crazies out there currently, and crazy people also carrying out crazy projects attempting to figure out which scammer can outdo the other in terms of scammer creativeness...
Will it implode before the end of the year, or is there additional runway for the newbies to come in and keep it going?
Newbies will always come in when inspired by FOMO. When does human stupidity reach it's Schelling point? (don't answer that, there is an ongoing massive worldwide investigation) This fake alt season, is designed to rekt them around the end of this year. I am pretty sure that I had seen at least a few times that satoshi proclaimed that snake oil imitations were inevitable, even if satoshi did not get into particulars, one of the natures of any open source project is that the code can completely be copied, and satoshi surely discussed these kinds of snake oil imitation dynamics trying to mislead people away from value.
Yeah, but what can you do, other than try to educate people? Not much.
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d_eddie
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Activity: 2450
Merit: 2843
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September 12, 2020, 11:46:18 AM |
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The draft text also obliges the Libra Association and the issuers other significant e-money tokens, to redeem, at any moment and at par value, the monetary value of the e-money tokens if the holders decide, either in cash or by credit transfers. The rules also impose the prohibition of granting any interests to holders of these digital assets. In this context, it looks sane to me. Tolerably so, at least. You issue tokens, they must be backed by something.
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hv_
Legendary
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Activity: 2506
Merit: 1055
Clean Code and Scale
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September 12, 2020, 11:49:04 AM |
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The draft text also obliges the Libra Association and the issuers other significant e-money tokens, to redeem, at any moment and at par value, the monetary value of the e-money tokens if the holders decide, either in cash or by credit transfers. The rules also impose the prohibition of granting any interests to holders of these digital assets. In this context, it looks sane to me. Tolerably so, at least. You issue tokens, they must be backed by something. For tether, is the something what exactly? Lol
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MFahad
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September 12, 2020, 12:20:11 PM |
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LFC_Bitcoin
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Activity: 3486
Merit: 9374
#1 VIP Crypto Casino
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September 12, 2020, 12:30:56 PM |
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@TheVladCostea Decided to research Bitcoin pr0n and found this gem: – Couple tries to buy BTC from ATM, stranger approaches them to inform that fees are too high; – Stranger takes them to their office to sell them BTC in person. – Boyfriend doesn't have enough money, so he trades GF for 1 BTC. https://twitter.com/thevladcostea/status/1304756798856011777?s=21
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BitcoinGirl.Club
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Activity: 2730
Merit: 2652
Farewell LEO: o_e_l_e_o
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September 12, 2020, 12:34:51 PM Last edit: May 14, 2023, 04:53:35 PM by BitcoinGirl.Club |
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Good morning WO! Observing @ $10,320 Can we see $10,501 😜
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BitcoinGirl.Club
Legendary
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Activity: 2730
Merit: 2652
Farewell LEO: o_e_l_e_o
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September 12, 2020, 12:37:01 PM Merited by LFC_Bitcoin (1) |
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– Boyfriend doesn't have enough money, so he trades GF for 1 BTC.
Nice trade. He can have few new ones.
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AlcoHoDL
Legendary
Online
Activity: 2324
Merit: 4056
Addicted to HoDLing!
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September 12, 2020, 12:42:05 PM |
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the 3rd monkey is about to blow his own head off
That's OK, motto still holds true (a dead monkey doesn't talk). LOL! I wonder why they used monkeys... The girls working at Oak Ridge were lovely...
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friends1980
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Activity: 1582
Merit: 1059
nutildah-III / NFT2021-04-01
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September 12, 2020, 12:46:22 PM |
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@TheVladCostea
Decided to research Bitcoin pr0n and found this gem:
– Couple tries to buy BTC from ATM, stranger approaches them to inform that fees are too high; – Stranger takes them to their office to sell them BTC in person. – Boyfriend doesn't have enough money, so he trades GF for 1 BTC.
(...)
Not sure why he's looking so worried though. The guy just made the best investment deal in his life. Buy low. Cut expenses. Etc. The problem with pr0n is, and always has been, its low quality script writers. Real shame.
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Globb0
Legendary
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Activity: 2674
Merit: 2053
Free spirit
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September 12, 2020, 01:08:30 PM |
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the 3rd monkey is about to blow his own head off
That's OK, motto still holds true (a dead monkey doesn't talk). LOL! I wonder why they used monkeys... The girls working at Oak Ridge were lovely... The 3 monkeys are see no evil hear no evil speak no evil The three wise monkeys are a Japanese pictorial maxim, embodying the proverbial principle "see no evil, hear no evil, speak no evil". The three monkeys are Mizaru, who sees no evil, covering his eyes; Kikazaru, who hears no evil, covering his ears; and Iwazaru, who speaks no evil, covering his mouth.
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nullius
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September 12, 2020, 01:49:12 PM Last edit: September 12, 2020, 02:06:02 PM by nullius |
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Decided to research Bitcoin pr0n and found this gem:
– Couple tries to buy BTC from ATM, stranger approaches them to inform that fees are too high; – Stranger takes them to their office to sell them BTC in person. – Boyfriend doesn't have enough money, so he trades GF for 1 BTC. As the inventor of a Bitcoin sexual fetish,(*) I must interject: This story goes better when she is mesmerized by the sight of the UTXO, the immutable mark of the carnal transaction in which she laid herself down as a sacrificial offering to the god of Bitcoin. She feels that she herself is forever hashed into the blockchain; it arouses her anew, it enthralls her, and she becomes addicted to accumulating bitcoins through ciphersex... Based on prior research, I observe that printable temporary tattoo paper is readily available, and suitable for QR codes. “Entrance fee.” Gives new meaning to the word “HODL”. (* Deep in my post history are modest hints, partly veiled by smoke and mirrors. Not giving links, because I’m a tease.)The problem with pr0n is, and always has been, its low quality script writers. Real shame. I could help—for a price. Though I think it works best in the written word (or in real life), and best appeals to females. (Women are by far the biggest consumers of written erotica, which is just fine with me!)
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d_eddie
Legendary
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Activity: 2450
Merit: 2843
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September 12, 2020, 01:53:40 PM |
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You're stuffed full of merits for a reason, dude. Have a special one. Keeping my last few for promises and nonlegendaries +1 WOsMerit
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nullius
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September 12, 2020, 01:59:10 PM |
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Cryptocurrency developers should produce a ‘white paper’ with all the relevant information about the issuer, the token or the trading platform “to enable potential buyers to make an informed purchase decision and understand the risks relating to the offering,” the proposal says.
National and European regulators must approve these documents before issuers can start operating. A faceless Tor user who calls himself “Satoshi Nakamoto” will seek approval from self-entitled bureaucrats before releasing “bitcoin.pdf” and a bunch of source code, because... because. Everybody is a bank-loving masochist with a regulatory fetish! Confirmed by strongest science.
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Torque
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Activity: 3528
Merit: 5031
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September 12, 2020, 02:31:01 PM |
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Cryptocurrency developers should produce a ‘white paper’ with all the relevant information about the issuer, the token or the trading platform “to enable potential buyers to make an informed purchase decision and understand the risks relating to the offering,” the proposal says.
National and European regulators must approve these documents before issuers can start operating. A faceless Tor user who calls himself “Satoshi Nakamoto” will seek approval from self-entitled bureaucrats before releasing “bitcoin.pdf” and a bunch of source code, because... because. Everybody is a bank-loving masochist with a regulatory fetish! Confirmed by strongest science. "Because they are tied to national currencies, supporters of ‘stablecoins’ claim they can avoid the bubble-and-burst evolution seen with Bitcoin." Because they are tied to national currencies which are already digital, they have no fucking point...except pointless redundancy, I guess? They continue to miss the point of Bitcoin's reason for existence in the first place.
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d_eddie
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Activity: 2450
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September 12, 2020, 02:56:00 PM |
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Cryptocurrency developers should produce a ‘white paper’ with all the relevant information about the issuer, the token or the trading platform “to enable potential buyers to make an informed purchase decision and understand the risks relating to the offering,” the proposal says.
National and European regulators must approve these documents before issuers can start operating. A faceless Tor user who calls himself “Satoshi Nakamoto” will seek approval from self-entitled bureaucrats before releasing “bitcoin.pdf” and a bunch of source code, because... because. Everybody is a bank-loving masochist with a regulatory fetish! Confirmed by strongest science. "Because they are tied to national currencies, supporters of ‘stablecoins’ claim they can avoid the bubble-and-burst evolution seen with Bitcoin." Because they are tied to national currencies which are already digital, they have no fucking point...except pointless redundancy, I guess? They continue to miss the point of Bitcoin's reason for existence in the first place. Bitcoin is bitcoin. There's no "issuer", there's no backing, it is what it is. You want some? Mine it or buy it. The EU tentative regulation that Biodom mentioned, as I understand it, is aimed at tokens issued by corporate actors (libra is explicitly mentioned, and tether would qualify as well). My previous post simply states that I personally agree that such corporate entities should be held liable, and any failure to comply with redemption requests immediately should have civil and criminal consequences. The last thing we need is more fractional reserve scams springing up like mushrooms everywhere.
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BitcoinGirl.Club
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Activity: 2730
Merit: 2652
Farewell LEO: o_e_l_e_o
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September 12, 2020, 03:00:30 PM |
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$10,350! Only $151 to go 😜
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