How do you stop someone forcing you to hand over your private key and taking all

[ranochigo]

We need a new kind of wallet that protects geeks, by having the option of limiting withdrawals

You can do this with bitgo https://www.bitgo.com/solutions#wallet

How it works is you have one key and they have another and co-sign your txes. You can set limits etc. However Bitstamp used this company before, and a hacker hacked Bitstamp and Bitgo and stole both keys and was able to bypass the withdrawal limit.

But if I have one key and they have another key, then they would need to steal my key too.
Are you saying they stole the persons private key too?

It is actually Bitfinex, not Bitstamp. But yes, they will have to get the transaction signed by both of them before it is considered valid. A similar implementation would be using 2 of 3 multisig. You would be holding two of the keys while a family member holds the other. One of the key is kept exclusively in a bank safe.

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[AGD]

Learn Jiu Jitsu, Sistema, Krav Maga and Kyusho, buy yourself a set of reliable guns that you can hide on strategic points in your house, update your house security to paranoid level, buy yourself a small army, if that doesn't help convince your attackers that your army will get after every of their family members, friends and colleagues, if they continue to torture you.

[iamnotback]

Re: How do you stop someone forcing you to hand over your private key and taking all

If they know for sure that you have a lot of Bitcoins and are willing to torture you to get them, you are pretty much screwed.

This kind of thing happens to bank managers/rich people where they are forced to withdraw money from banks etc, it's called tiger kidnapping.

If you're worried about something like this happening. Step up your personal security. Get a gun etc.

The government has more guns than you do...

no, you will not be tortured if you own BTC

Will you guarantee that no one will be imprisoned/tortured for "financial crimes"¹ if they fail to comply with government orders to turn over their private keys?

I want you to make an asshat for yourself so we can enshrine your post later when it is proven that you were incorrect.

¹ Read more about this here.

I am like so Lolz when I read the below and remember how I (as @AnonyMint) was telling everyone that Tor was compromised back in 2013 and everyone thought I was a kook.

Re: Trezor security

Regarding the privacy I believe that unless there is a way to detach/decouple the physical world with the cripto world there is no way to protect you against being tracked on block chain.
in the end of the day if you spend your bitcoin you connect yourself with somebody else. Tumblers/Mixers do not help. TOR has been hacked by the NSA so what for.
There are ATMs but as long as I can see they have all sort of tracking for your real Identity (even finger tips) which in my opinion is completely insane.

[franky1]

One thing I have thought about is that with bitcoin, someone could force you to hand over your private key. What sort of safeguards are there to prevent this happening, or to prevent them taking everything in that wallet?
One thing one can do is leave Bitcoins on an exchange that will only allow you to withdraw $1000 worth per day, but then you run the risk of the exchange being hacked....what are the other options?

paper wallets and a lock on the door of your house. dial 911 if someone breaks in

[ahmedjamal1998]

What do you mean by "forcing" you to give them your private keys

Is it like a gun pointed to your head situation ?
Normally ppl keep most of their coins (I hope) in a cold wallet away which isn't touched and isn't easily reachable and small amounts in your regular hot wallet.

When I just think about it it'd just be the same thing in case of cash.

OH and NEVER keep money in an exchange as they are commonly known for running away with the customer's coins.

[Dorky]

Reading what I am about to post may make you think I am fucking stupid, especially in a world where everyone favors monetary gain above everything else.
But let's just say I am not stupid, and I am sincere to share what I know is the truth.

Matthew 6:19-21
19 Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. 20 But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. 21 For where your treasure is, there your heart will be also.

What do you learn from these simple verse?

In my own words and interpretation...

It means no matter how hardcore you make a fortune for yourself (trading, stealing, robbing, cheating, bribing, etc), no matter how hardcore you try to safeguard your wealth (put in safe, store as gold, buy bitcoin, invest in real estate, invest in stocks, etc), eventually your wealth will still be taken away from you, one way or the other.

Wealth comes and goes with every generation. How many can actually preserve it? There is Chinese saying that wealth does not last 3 generations. Sooner or later the wealth that you worked hard (and possibly sinful) for will be wasted.

My question for you is: If you know something is unsustainable, just WHY do you still persevere on it?

If you know that sandcastle in the beach will be washed away, will you spend your sweat and toil trying to protect it with everything you have?

Will you even build it in a grandeur way at all?

I am not trying to say you should not care to protect your wealth.

I am trying to let you know that not everything in life is controllable, especially when we are playing other people's game (bitcoin).

Take sufficient precaution but do not be obsessed over it.

Do not lose sleep over it.

Do not get too worried over it.

In life, almost everything is predetermined.

If your wealth is going to be lost or stolen anyway, it will be out of your expectation.

Take it easy.

Be willing to let go.

Allocate a place in your heart for God.

[Red-Apple]

How are they going to force you hand over your private key? Are they going to point a gun to your face and make you recite your private key? If you were to be robbed, they would probably just make you hand over your phone. In that case, prepare a cold wallet and your loss would be minimised.

Anyway, some wallet uses multi sig. Without their key and your key, you cannot touch the Bitcoin within the address. I imagine this would be counter effective since you can still control the coins in your wallet with you holding more keys.

i wanted to suggest the same thing about a multisig wallet but after reading the topic i am going to say a single key is much better because in the situation where a gun is pointed at your head a multisig wallet means they are going to beat you some more for giving up each key and repeat the beating for the next key!

[NorrisK]

Have a 'decoy' wallet that you hand over when forced. This will only work when the attacker does not know the Bitcoin addresses in your main wallet.

This is what you should do.

Trezor gives a nice tutorial on that and how to use their wallet with dummies that you can load with a small amount if ever forced to hand over a wallet.

[sikke]

One thing I have thought about is that with bitcoin, someone could force you to hand over your private key. What sort of safeguards are there to prevent this happening, or to prevent them taking everything in that wallet?
One thing one can do is leave Bitcoins on an exchange that will only allow you to withdraw $1000 worth per day, but then you run the risk of the exchange being hacked....what are the other options?

Well, lets say the truth.
If someone will torture you in purpose to force the private key out of you, then I think your money are basically lost, unless you are some pain-resistant person, or someone will save you in short time.
I dont think we have some programmes which may support you in such a situation, but for example you could transfer the money into poloniex, and they allow you withdrawing 2000$ daily without any identity confirmation.
I guess that the best way to prevent someone forcing you to give access to your bitcoins, is just hiding them somewhere in the place he can't know about- not necessary in the internet, but somewhere in the safehouse or anything, as a paper-wallet or hardware-wallet.

[ekoice]

You are really dumb if you will give away your private key from someone.There is a reason why is it called a "private key" for you to keep it by yourself because you own it.Even  if you are being forced why would you give it then.Having a dummy wallets will help you to get more secure if they force to get the private key from you

Yes, that seems to be a practical idea.Just give them the private keys of your dummy wallet which has no btc or which have some satoshis.

[naidray]

One thing I have thought about is that with bitcoin, someone could force you to hand over your private key. What sort of safeguards are there to prevent this happening, or to prevent them taking everything in that wallet?
One thing one can do is leave Bitcoins on an exchange that will only allow you to withdraw $1000 worth per day, but then you run the risk of the exchange being hacked....what are the other options?

Probably I could not imagine a situation where I will be getting like this. Still the same measurements what we are taking against hacking will be the right solution here too. Yes, having bitcoin in multiple addresses will be significantly reducing the risk here too, I do believe.

Never announce to anyone about how many bitcoins or how many bitcoin addresses with balance you are having. If you are using online wallets, keep the credentials safe along with 2FA enabled. Keeping bitcoins in cold storage and maintaining them secretly would be the right option for most of the robbery / hacking cases.

[Xester]

One thing I have thought about is that with bitcoin, someone could force you to hand over your private key. What sort of safeguards are there to prevent this happening, or to prevent them taking everything in that wallet?
One thing one can do is leave Bitcoins on an exchange that will only allow you to withdraw $1000 worth per day, but then you run the risk of the exchange being hacked....what are the other options?

If you are worried by those kind of things the best way to get rid of all of those that are playing with your mind is to convert your bitcoin into fiat currency and deposit it in your banks that way your funds will be much safer. If you will do it you can sleep well in the evening without even thinking of what will happen to your private keys since you already have converted all your bitcoins into cash.

[dothebeats]

Have a 'decoy' wallet that you hand over when forced. This will only work when the attacker does not know the Bitcoin addresses in your main wallet.

The situation happening to me would be a bit far-fetched, since it would a hard task to locate a single person's wallet based on only his tracks and taints in the blockchain. But for example I would forced to give my wallet at gun point, I would probably give a wallet that contains only a few coins in it, coins that I would be willing to spare in any case.

[davidmccoy]

In cryptography ( since bitcoin is a cryptocurrecny and there are many cryptography concepts involved in bitcoin), there are two types of keys in asymmetric case. One is public and other is private. Something that is encrypted with the public key can only be decrypted with the private key. So, there should not be any way to share the private key, when it is only meant for the owner.

[jonald_fyookball]

have many wallets, use multisig. 

[RaXmOuSe]

well i only spend bitcoin on weed so sorry thug go rob a real rich person LOL but no honestly the same can apply on rich person with a fat bank account so these questions is not interesting, there would still be sovreign laws with order in a world were bitcoin flows

[Yakamoto]

One thing I have thought about is that with bitcoin, someone could force you to hand over your private key. What sort of safeguards are there to prevent this happening, or to prevent them taking everything in that wallet?
One thing one can do is leave Bitcoins on an exchange that will only allow you to withdraw $1000 worth per day, but then you run the risk of the exchange being hacked....what are the other options?

The main thing I can think of is that you have a separate wallet with some stuff in it but not a lot, so you can feign not having any additional Bitcoin one way or another. Having a limit on what can be withdrawn is also a decent strategy to avoid having your entire account emptied quickly.

Something other users suggested was have a decoy wallet, and that is probably one of the cheapest and best plans for most people.

[Ayers]

One thing I have thought about is that with bitcoin, someone could force you to hand over your private key. What sort of safeguards are there to prevent this happening, or to prevent them taking everything in that wallet?
One thing one can do is leave Bitcoins on an exchange that will only allow you to withdraw $1000 worth per day, but then you run the risk of the exchange being hacked....what are the other options?

this is no different than someone forcing you to take out the money from your pocket in real life right? it's better if you secure your bitcoin like you do with cash, put them in a safe box underground in a place where only you know about, this solve your problem man

[Ethane]

I was hoping I wouldn't have to spell it out. I'm really talking about where someone hears you are into bitcoin so they turn up at your house, force their way in and put a gun in your mouth. I didn't want to get so graphic, but I think we as a community should develop safeguards for this.

these people might not be very smart, but they might be thugs.

has no one considered this?

To this day Bitcoin is still something kinda intellectual, so I doubt that if they are "thugs" they will know what is Bitcoin. These kind of people are those you would not make the difference between RAM and HDD, or could not locate a private key in a computer. Do not worry, just have a gold ingot in case you need it, give them, with your phone so that you can prove them you can not call the police, and I guess you will be fine.

[The One]

First of all i don't brag about how many BTC i have. Thus i do not grab the attention of the criminal scums.

Secondly my hot wallet is always zero.

Thirdly my cold wallet is not at the same house as myself as protection against accidental fire. Always two copies in 2 different places - both secure.

The criminal scums will not get 1 satoshi from me.