Author

Topic: [2014-08-29] theverge.com: Meet the man building the Fort Knox of bitcoin (Read 1025 times)

311
full member
Activity: 230
Merit: 100
Come original.
Umm... seriously? Is that even necessary.

The article mentions it's necessary in order to get insurance.

"and all that stuff, because that was the only way we could get it insured", "For us to get the insurance, we wouldn’t get it if there was a high risk of a hack. If you’re not thorough with your security the insurance guys won’t touch you."

Didn't bitpay just get insurance? I'm sure they don't have armed guards etc. I'm sure they have to satisfy their insurers but this seems overkill.
legendary
Activity: 1974
Merit: 1030
Umm... seriously? Is that even necessary.

The article mentions it's necessary in order to get insurance.

"and all that stuff, because that was the only way we could get it insured", "For us to get the insurance, we wouldn’t get it if there was a high risk of a hack. If you’re not thorough with your security the insurance guys won’t touch you."
311
full member
Activity: 230
Merit: 100
Come original.
Quote
In July, a bitcoin startup named Xapo announced it was raising $20 million, bringing its total backing to $40 million. It was using this funding for an unusually intense security setup. Xapo tells users that they can feel secure because their bitcoin will be stored in offline servers, scattered across multiple continents, in secret underground vaults, with armed guards, and biometric sensors. We sat down with Xapo CEO Wences Casares to discuss why he thinks such extreme measures are necessary and how he sees bitcoin changing the world.

Umm... seriously? Is that even necessary. Sounds like it could make a great heist movie though  Cheesy.
hero member
Activity: 686
Merit: 500
This is insanely awesome! Makes me feel safe just reading it!
legendary
Activity: 1148
Merit: 1014
In Satoshi I Trust
Jump to: