solution to rubber hose attacks

[Beliathon]

Real solution to Rubber Hose attack? Coinbase.com

coinbase is just another mtgox... no one can guarantee which day the CEO will finally snap and get greedy.

Franky I've always respected your opinions and insights on this forum, on most days you are a very valuable community member here. But on this matter I could not possibly disagree more strongly.
I have been there, visited the headquarters. Coinbase.com is legit, they have the foresight to understand that building a solid reputation today will be worth billions tomorrow. They will never gox us, they're smarter than that. They share our vision of a more peaceful world.

Coinbase.com will be around for a long, long time. And they will always have my business, and I will always speak well of them to any who ask for my advice.

As for all the children spinning theories about gunmen and rubber hoses, please grow up and realize most people will never accept the level of risk required to rob people at gunpoint - putting one's life and freedom on the line for a SLIM CHANCE at getting rich?
That kind of insanity is for the desperate only, and these days the desperate don't have access to guns. They're certainly not better equipped than the average police department, and sure as HELL can't compete with the 10,000 heavily-armed soldiers of the NYPD.

[cbeast]

As for all the children spinning theories about gunmen and rubber hoses, please grow up and realize most people will never accept the level of risk required to rob people at gunpoint - putting one's life and freedom on the line for a SLIM CHANCE at getting rich?
That kind of insanity is for the desperate only, and these days the desperate don't have access to guns. They're certainly not better equipped than the average police department, and sure as HELL can't compete with the 10,000 heavily-armed soldiers of the NYPD.

That depends if you are a "doer" or a "don'ter".  

[ljudotina]

Underground sentry guns...i'm telling you guys...they solve your "home" problems...

[cbeast]

Underground sentry guns...i'm telling you guys...they solve your "home" problems...

Drones. We need drones.

[franky1]

Franky I've always respected your opinions and insights on this forum, on most days you are a very valuable community member here. But on this matter I could not possibly disagree more strongly.
I have been there, visited the headquarters. Coinbase.com is legit, they have the foresight to understand that building a solid reputation today will be worth billions tomorrow. They will never gox us, they're smarter than that. They share our vision of a more peaceful world.

Coinbase.com will be around for a long, long time. And they will always have my business, and I will always speak well of them to any who ask for my advice.

people were saying the same speech about mtgox in 2012.. NEVER trust third party solutions with al your wealth for long periods. it may take 10 years, 20 years, it may take a total change over of management before it happens, but never have blind trust in a business.. its your money, you should keep your funds secure

[sgravina]

Have sex with the gunman, get pregnant and then sue him for child support.  You get all your bitcoins back.

[commandrix]

What you need is a few of these.


Failing that, have a foolproof way to secretly call the police while you deal with the gunman. Make sure your floors are all boobytrapped (and your family knows about the booby traps). Have some way that you can be 99% sure that you will never reach that point and you'll probably be fine.

[nwfella]

Ok.  I slowly get up, and quickly throw my phone at his face.  Pass me the d20!

[cozk]

[franky1]

in all possible solutions.. even moving funds during being held hostage, multisig, safety deposit boxes etc.

the guy is still in your house and knows you still have control of your funds. he knows you would rather give him the funds .. eventually .. rather then send them to an address with no known privkey (losing control yourself knowing you will never get them back ever).

so he will hammer you until he gets the multisig, privkey, safety deposit key, privkey where funds were diverted to.

i guess the cartoon did no explain that enough

[knightcoin]

lol

[jonald_fyookball]

in all possible solutions.. even moving funds during being held hostage, multisig, safety deposit boxes etc.

the guy is still in your house and knows you still have control of your funds. he knows you would rather give him the funds .. eventually .. rather then send them to an address with no known privkey (losing control yourself knowing you will never get them back ever).

so he will hammer you until he gets the multisig, privkey, safety deposit key, privkey where funds were diverted to.

i guess the cartoon did no explain that enough

He can't get into the deposit box. 
Maybe your bank just let's anyone waltz into the vault. Mine doesn't.

And no , I would rather destroy the funds than let the thief have them.

[franky1]

in all possible solutions.. even moving funds during being held hostage, multisig, safety deposit boxes etc.

the guy is still in your house and knows you still have control of your funds. he knows you would rather give him the funds .. eventually .. rather then send them to an address with no known privkey (losing control yourself knowing you will never get them back ever).

so he will hammer you until he gets the multisig, privkey, safety deposit key, privkey where funds were diverted to.

i guess the cartoon did no explain that enough

He can't get into the deposit box.  
Maybe your bank just let's anyone waltz into the vault. Mine doesn't.

And no , I would rather destroy the funds than let the thief have them.

destroy the funds for ever?? then if the intruder was caught. there is no evidence that he ever took anything, and your out of pocket.
or...OR
give him the funds and if caught there is proof he took something, meaning he is not released, and you have a chance of getting funds back.

zero chance, 100% loss= no.. small chance, small chance of return=yes

imagine it this way you have a stack of bank notes on a table. you hear the police sirens coming. do you burn the bank notes so the thief cant get them. or do you let them have them, then try to do something to delay him running off and hope the cops get him, so you can get your money back..

[jonald_fyookball]

I'm not saying anyone should destroy funds.

You instantly send them from brain wallet to safe deposit box
Where it's arguably harder to steal or coerce them.

Not that complicated of a concept.

[freedombit]

So, you've got all your precious Bitcoins locked up
in cold storage... you've take all technical procautions...

but then a gunman breaks into your house and says
he's gonna shoot you in the face unless you turn
over your private keys.

You could try to thwart this by preparing a decoy wallet
or two, but do you trust yourself not to buckle under
the pressure?

My solution:

You have a transaction already loaded which sends most
of your cold storage funds off to another secret wallet
which you have the keys to in a safe deposit box.

When the gunman breaks in, you hit a button, and
boom, the transaction is broadcast, you no longer
have your coins there.

Or, if you are caught off guard, you say, sure you
can have my coins, let me login... you "login"
or access a secret URL, and it whisks away
your coins to saftey while giving a decoy address...
If under pressure later, you can reveal the other
address, but now its too late, the coins are gone.

thoughts?

Here's the deal. All these Fortune 500 guys walk around without any problems whatsoever. Sure, they may use security, or not, but it's all relative to the risk / threat. Why aren't people beating them with rubber hoses every day?

How ever, I can see a great use. Can you build an app that will quickly "vanish" my Nike's and leave me standing in my white socks? It would be great to avoid being shot dead.

[CoinHoarder]

Why not just build a panic room? 

[CoolBliss]

Multi-sig custody where >1 signature is required to transfer XBT. Kinda like travelers checks that required two signatures to spend (remember those)?

[CoolBliss]

One could automate this with a program to verify one's location and provide a co-signature. It's also possible that someone could integrate this into web wallets to provide more secure "banking" options.

[jonald_fyookball]

One could automate this with a program to verify one's location and provide a co-signature. It's also possible that someone could integrate this into web wallets to provide more secure "banking" options.

I like this idea.  Although proof of location can be spoofed fairly easily.  I think there discussions a out proof of location using ping response latency but sounds unreliable.

[ShakyhandsBTCer]

in all possible solutions.. even moving funds during being held hostage, multisig, safety deposit boxes etc.

the guy is still in your house and knows you still have control of your funds. he knows you would rather give him the funds .. eventually .. rather then send them to an address with no known privkey (losing control yourself knowing you will never get them back ever).

so he will hammer you until he gets the multisig, privkey, safety deposit key, privkey where funds were diverted to.

i guess the cartoon did no explain that enough

This is exactly true. If you are in physical danger there is no reason to try to protect you money/bitcoin.

Money can be replaced, your life cannot.

If you can sufficiently trade the money then you can use the police to catch the people who would steal from you.

I still think this makes it much more clear!