Cryptocurrency to be launched + private keys stored at the Royal Mint in London!

georgehosterguy

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Activity: 196

Merit: 12

Quote from: Novatech8 on July 12, 2019, 05:32:10 AM

I'm not buying this ,my private keys are more safer with me than anywhere else ,why the hassle of storing private keys in a fault when it can be safer in your home?

Of course it's a personal preference to where you keep your private keys but the vault at the Royal Mint is one of the most secure places on earth and mints currency for 61 countries.

Must be safer than most personal residences.

Novatech8

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Activity: 700

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Sovryn - Brings DeFi to Bitcoin

I'm not buying this ,my private keys are more safer with me than anywhere else ,why the hassle of storing private keys in a fault when it can be safer in your home?

georgehosterguy

member

Activity: 196

Merit: 12

Quote from: GreatArkansas on July 11, 2019, 08:59:36 AM

Quote

private keys stored at the Royal Mint in London!

Does this also consider as 'Decentralized'? Because you still don't own your private keys.
Because even it's not entity will store their private keys into that building, they can't still control their wallet since there are some people holding their private keys.

For example, I have my Ethereum wallet and I will store my private keys to that building, how can I sure that no one will know my private keys? Because in the first place, I have given some people my permission to get and use my private keys. That's a pretty hard decision, but still, don't know how it works when you store your private keys there, like what are the consequences how to get your private keys or how other people can retrieve the private keys on behalf of you.

This means that the genesis keys and TEM not currently in circulation are stored in the Royal Mint.

The private keys of users are not stored there, you will still look after those yourself.

It means stealing them becomes quite difficult.

georgehosterguy

member

Activity: 196

Merit: 12

Quote from: bartolo on July 11, 2019, 11:06:09 AM

Quote from: GreatArkansas on July 11, 2019, 08:59:36 AM

Quote

private keys stored at the Royal Mint in London!

Does this also consider as 'Decentralized'? Because you still don't own your private keys.
Because even it's not entity will store their private keys into that building, they can't still control their wallet since there are some people holding their private keys.

I don't know anything about this coin but for what I have read in the first post, I understand that they are not going to store all users keys there, but only the genesis private keys. Am I right?

Yes only the genesis keys are stored there along with TEM not currently in supply.

Pet240

jr. member

Activity: 486

Merit: 3

If the private keys are being stored there, i envisage that some might be able to get hold of it. There are people who break into vaults, so think carefully well about it.
Individuals should be in possession of their respective private keys, so that those who own it can now be responsible to whatever happens to such accepts.

bartolo

hero member

Activity: 1176

Merit: 501

Quote from: GreatArkansas on July 11, 2019, 08:59:36 AM

Quote

private keys stored at the Royal Mint in London!

Does this also consider as 'Decentralized'? Because you still don't own your private keys.
Because even it's not entity will store their private keys into that building, they can't still control their wallet since there are some people holding their private keys.

I don't know anything about this coin but for what I have read in the first post, I understand that they are not going to store all users keys there, but only the genesis private keys. Am I right?

GreatArkansas

legendary

Activity: 2506

Merit: 1394

Quote

private keys stored at the Royal Mint in London!

Does this also consider as 'Decentralized'? Because you still don't own your private keys.
Because even it's not entity will store their private keys into that building, they can't still control their wallet since there are some people holding their private keys.

For example, I have my Ethereum wallet and I will store my private keys to that building, how can I sure that no one will know my private keys? Because in the first place, I have given some people my permission to get and use my private keys. That's a pretty hard decision, but still, don't know how it works when you store your private keys there, like what are the consequences how to get your private keys or how other people can retrieve the private keys on behalf of you.

georgehosterguy

member

Activity: 196

Merit: 12

This means that if you want to steal the private keys you have to break into the Royal Mint which is next door to the crown jewels!

georgehosterguy

member

Activity: 196

Merit: 12

At 2pm BST founder of temtum Richard Dennis arrived at the Royal Mint London to begin the formation of the genesis TEM private keys. These keys will be forever stored in the vault of the Royal Mint, a worlds first for a cryptocurrency to be minted and secured in the way. The Royal Mint in London sits directly opposite the home of the Crown Jewels, the Tower of London

This building is the vault at the Royal Mint, where the British currency has been minted and securely stored for over 1100 years!

This is now the creation place for the TEM currency.

Topic: Cryptocurrency to be launched + private keys stored at the Royal Mint in London! (Read 179 times)