Important as well, especially if you are
whale-ish, put in place some form of dead man's switch so that when you go to meet the great spirit in the ocean then your masternodes don't go with you.
And leave to your loving ones what and how to do just in case...
good point
i recently 'signed' some paper for a crypto friend, he wrote a legal document about hist last will regarding his crypto holdings
as this is so dam technical he put me in there as tech person to liquidate on behalf of family.
I suggest for anybody to do the same !! (not using me) Finding somebody trusted or tech savvy enough who could advice the family in case anything 'bad' happens !
safety 1st
Us IndiaMikeZulu guys, tungfa, have -- although we are only hobbyists -- taken a v. v. serious approach to this and related issues. Now, although we acknowledge that our model is not for everyone . . .
we have a multi-person security model. All wallets and related data -- like the backups of the Gmail accounts necessary to get cryptos off exchanges, and the password of my laptop -- are not only on multiple back-ups, but copies are kept, in three separate physical locations, by the three members of this trial model, which even extends to exchange evaluation and exchange-exposure protocols.
We have another member refining a stand-alone security model. (He's an investor. We're traders.)
Both models are under constant review and update.I appointed myself -- although I am a techno-klutz -- as Security Officer several years ago. My conviction was that eventually we'd be managing laaarge amounts of cryptos.
It all seemed a little anal . . .
'til we suffered, in a 14-month period, a 10-Bitcoin loss when Vircurex went down, a Gmail account hack* that neeeeeeearly saw another major loss, and a trojan attack that
did cost us plenty.
So, okay, you mentioned the retrieval of coin in the case of personal tragedy. Well done. My suggestion is to reach much further:
'Ordinary People's' Internet security is becoming increasingly difficult, so we'll need to be able to offer them bullet-proof basic security models as an integral aspect of them adopting cryptos into their household financial models; if you're a bullion bug; there's that security aspect (coffee can in the asparagus patch, me!); there's the woefully neglected field of exchange evaluation/exposure protocols**;
etc.*The guy who got into my partner's Gmail transpired not to be a crypto geek: he got onto an exchange using current-passwords-that-should-not-have-been-in-an-email-attachment; then successfully transferred the tiny amount of Bitcoin off the exchange, then had a go at the large amount of Bytecoin, but stuffed up withdrawal process.
**This has been an interesting aspect. For instance, the Gatecoin exchange of Hong Kong has a street address. Now, I'm not so naive that I think that that gives Total Security, but if a community had a member in Hong Kong, that member would take the bus down to meet the owner. Beyond this, as part of our general dev work, we maintain ties with a wide array of crypto folk. Again, no guarantees; but knowledge is power. (Amanda Johnson recently interviewed the manager of Living Room of Satoshi? We've been swapping emails with him since L.R.o.S. opened. Our conclusion? He's a diligent and reliable character.)
And I no longer put coin onto a new exchange until I've sent an 'Hello' ticket to Support: is the response prompt and comprehensible?
And here's a P.S.: there's a 'creep factor': you start of with a security model sufficient for a coupla Bitcoin, and when TSHTF, you realise you had 25 Bitcoin on that
ad hoc model. About two years ago, a member of the U**&^%$#@m community reported that his laptop had failed, and -- notwithstanding the
ad nauseum exhortations everyone had had to keep wallets backed up -- it became apparent that this member had
about $US 35,000 worth of unsecured cryptos on that machine.
The point is: remain, security-wise, way ahead of the $ amounts of cryptos you're dealing with!!
