The Wealthy Are Hoarding $10 Billion of Bitcoin in Bunkers

[audaciousbeing]

I actually won't use the word "hoarding" because what they were doing is ensuring that their most treasured assets is safe under any means. If a bank should have 10billion dollars in raw currency, I can't imagine the amount of infrastructures both physical, electrical and human that would be deployed in other to ensure that its safe from intruders while we have seen billionaires built their own bunkers to keep resources. As long that there is no law against the amount that can be kept then it's not hoarding. Again, I see this as an advertisement on the part of Xapo to show the outside world that funds kept with them are safe which is to discourage people from keeping it themselves which I am totally against.

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[BrewMaster]

i still find this the strangest thing to be created and exist and be used by that many people! (i am trying not to call it dumb move...)

this is a bitcoin vault, and held by a third party! one of the first thing that anyone who enters bitcoin space hears is that you will no longer need any third parties to store, spend, receive money anymore.
all i say is that as long as i can store this

Code:

5X5hh9iZRWu2FCUAOgv86gD9a+4dZjSxugNILM6Fxz8KfsmmTb0pahPb/QeIQ2J15Y+2TXpnEx7QXoerUfMRqg==

and remember the password used to create it, i have no need of such "vaults" and third parties and the additional risks!

in case you are wondering that is the AES-256 encryption of the private key from wiki with a 16 char long password. for all anyone knows that is just a random text without a meaning but it can contain millions of dollars worth of bitcoin which i and only i can access.

[magneto]

i still find this the strangest thing to be created and exist and be used by that many people! (i am trying not to call it dumb move...)

this is a bitcoin vault, and held by a third party! one of the first thing that anyone who enters bitcoin space hears is that you will no longer need any third parties to store, spend, receive money anymore.
all i say is that as long as i can store this

Code:

5X5hh9iZRWu2FCUAOgv86gD9a+4dZjSxugNILM6Fxz8KfsmmTb0pahPb/QeIQ2J15Y+2TXpnEx7QXoerUfMRqg==

and remember the password used to create it, i have no need of such "vaults" and third parties and the additional risks!

in case you are wondering that is the AES-256 encryption of the private key from wiki with a 16 char long password. for all anyone knows that is just a random text without a meaning but it can contain millions of dollars worth of bitcoin which i and only i can access.

Exactly. I don't know what to feel about this.

One the one hand, I see a lot of wealthy people investing in bitcoin, and seemingly for the long term which obviously means that the active supply on the market is decreased drastically, and also shows even the wealthy has a lot of confidence in bitcoin as a store of value. Otherwise, they would not be interested in it at all.

But on the other hand, I don't see why people still trust third parties to hold their private keys... It's probably completely unnecessary anyways. There is more risk in Xapo or an authority gaining access to your coins without your consent, then a hacker actually infiltrating it. These big investors really should rethink their storage strategies.

[KeijiN]

Those guys know for sure, what they are doing. So knowing that, i will begin to hodl mine bitcoins because if they hold - there must be a growh soon.

[jamesclark]

This is very logic for me, I would even believe, that Bill Gates and all that negative towards bitcoin guys are holding some too

[Visteryy]

The article is way too big but nonetheless,judging from the title,here's are my thoughts:
$10 Billion of bitcoin is just the tip of the iceberg. There are thousands of alts too. But really interesting article, the bolded part did help. Can't believe xapo is this famous and has such potential. Wow.

Very nice, are not you? I think it is great and there are many interesting things? And the funny question if you have all this property, what do you do with it? Hope the amount of such great wealth goes to charity well. Out of society, there are still many people who are in difficult circumstances, and poor people need help.