Topic: First Bitcoin vault? (Read 8140 times)
I want this on a budget. Bitcoin safe to be displayed prominently in the center of town where normally 100% surveillance would occur. You could strap the safe to the big oak tree if you have to, it's all about the location. You can personally set levels of security by requiring biometric access, witnessed as you wish.
I pondered what a true hardwallet would be like.
Paperwallets are good and have a good use as a means to give Bitcoin as a gift card or form of payment to your local sect.
But they are not really that good for long term storage. Paper degrades and gets brittle over time, and paper is susceptible to fire and water damage. One spilled Coke could put a quick end to your fortune
I envisioned an engraved metal version to eliminate those problems. They can still be about the same size as a paper wallet, just a bit thicker and heavier, and more importantly everlasting for a long term savings account.
Even a step further, I thought about a Bitcoin Vault as a piece of hardware. This hardware would take care of automatically backing up your encrypted wallets as well as secured cloud backup, fully encrypted itself as a wallet storage device. I think the fact that your wealth could be wiped out by a computer virus or other PC problems is something that limits adoption as a general consumer would fear such a scenario. People are used to seeing their money physically, without a clear understanding of what a wallet is and how to protect it there is a danger. We could use technology to help that. Maybe this is something BlockBurner can work on someday
Paperwallets are good and have a good use as a means to give Bitcoin as a gift card or form of payment to your local sect.
But they are not really that good for long term storage. Paper degrades and gets brittle over time, and paper is susceptible to fire and water damage. One spilled Coke could put a quick end to your fortune
I envisioned an engraved metal version to eliminate those problems. They can still be about the same size as a paper wallet, just a bit thicker and heavier, and more importantly everlasting for a long term savings account.
Even a step further, I thought about a Bitcoin Vault as a piece of hardware. This hardware would take care of automatically backing up your encrypted wallets as well as secured cloud backup, fully encrypted itself as a wallet storage device. I think the fact that your wealth could be wiped out by a computer virus or other PC problems is something that limits adoption as a general consumer would fear such a scenario. People are used to seeing their money physically, without a clear understanding of what a wallet is and how to protect it there is a danger. We could use technology to help that. Maybe this is something BlockBurner can work on someday
mmm green apples
please take my money!
please take my money!
Well if you have 23847455092384 bit coins....
...your coins are worth $0 because you have every single one! (even the ones that technically don't exist)
hahaha valid point - Subtract about 10 digits from the origional number :p
Well if you have 23847455092384 bit coins....
...your coins are worth $0 because you have every single one! (even the ones that technically don't exist)
Very nice, seems a bit too much though.
Well if you have 23847455092384 bit coins....
Otherwise just do what I do - use blockchain.info :p
Very nice, seems a bit too much though.
Why not just print off a paper wallet and deposit in safe deposit box or two (with geodiversification if you so desire).
I thought the unofficial slogan for bitcoin was "be your own bank"...
This would be like [insert reference about using something the way it's not meant to be used]
This would be like [insert reference about using something the way it's not meant to be used]
That's it? That's all the argument you've got?
I'll make a pretty website soon and it will be more convincing. Sorry for the delays but we are....
Oh yeah? What if the moon blows up? What then, smart guy?
....working closely with the Moon-ian government so...
I've got a privately funded moonbase to store bitcoin. Please send me coins, I've got lasers and stuff.
Geddit?
(Why am i arguing with a sock puppet i don't know..)
Geddit?
(Why am i arguing with a sock puppet i don't know..)
Oh yeah? What if the moon blows up? What then, smart guy?
I've got a privately funded moonbase to store bitcoin. Please send me coins, I've got lasers and stuff.
Geddit?
(Why am i arguing with a sock puppet i don't know..)
Geddit?
(Why am i arguing with a sock puppet i don't know..)
That's it? That's all the argument you've got?
I've got a privately funded moonbase to store bitcoin. Please send me coins, I've got lasers and stuff.
Geddit?
(Why am i arguing with a sock puppet i don't know..)
Geddit?
(Why am i arguing with a sock puppet i don't know..)
Why would you go through all that trouble for security, but allow these people to have full access to your wallet? Buy your own engraver and bury the "wallet" in your backyard!
http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN
http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN
I think because having your money in a bank gives you plausible deniability. If someone sticks a gun in your face or the face of a loved one, you don't have access to that money. You could deter would-be attackers by making it public knowledge your savings are stored safely away in Uruguay or wherever.
Same premise banks were first founded on. That's not going to change. There are certain real world advantages to not being able to access all of your money immediately.
What's the real world advantage of an unknown Uruguayan entity being able to access all of your money immediately?
This is getting ridiculous. You literally just quoted my answer to your question.
Quote from: bobdude17
I think because having your money in a bank gives you plausible deniability. If someone sticks a gun in your face or the face of a loved one, you don't have access to that money. You could deter would-be attackers by making it public knowledge your savings are stored safely away in Uruguay or wherever.
And yes it is an "unknown Uruguayan entity", because they haven't even launched yet. No advertising. Yet I am watching their Pre-IPO shares get sold to private investors. With no advertising. They could become "very known" soon. How can you not see that?
And why would they steal your money? Then who would save their money in there? Makes no sense to get all the funding to have a security prison and then just take the money people save there, they stand to lose a lot more money by stealing from their customers. I can't believe I'm explaining this.
Do you really think going mainstream means everyone storing their life savings under their mattress? Tech savvy crypto people might, and the great thing about Bitcoin is you will always have the option to, but honestly you are a fucking moron if you think there will not be a market for these kinds of services in the future.
Why would you go through all that trouble for security, but allow these people to have full access to your wallet? Buy your own engraver and bury the "wallet" in your backyard!
http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN
http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN
I think because having your money in a bank gives you plausible deniability. If someone sticks a gun in your face or the face of a loved one, you don't have access to that money. You could deter would-be attackers by making it public knowledge your savings are stored safely away in Uruguay or wherever.
Same premise banks were first founded on. That's not going to change. There are certain real world advantages to not being able to access all of your money immediately.
What's the real world advantage of an unknown Uruguayan entity being able to access all of your money immediately?
Why would you go through all that trouble for security, but allow these people to have full access to your wallet? Buy your own engraver and bury the "wallet" in your backyard!
http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN
http://www.amazon.com/Dremel-290-01-Stroke-Engraver-Template/dp/B0000302YN
I think because having your money in a bank gives you plausible deniability. If someone sticks a gun in your face or the face of a loved one, you don't have access to that money. You could deter would-be attackers by making it public knowledge your savings are stored safely away in Uruguay or wherever.
Same premise banks were first founded on. That's not going to change. There are certain real world advantages to not being able to access all of your money immediately.
Quote from: bobdude17
And if I can't seem to get the "value of having a bank account to a lot of people" point across to you... I don't know what else to say really.
Value isn't a monthly fee to increase risk.
Can you please explain the 'value' here, and how Uruguay is better than eg my mattress?
You really believe BTC Global is a scam?
I'm saying they have to provide reasons to trust them, and an undeground vault is not one.
rich people who are used to the idea of secure offshore holdings, and would be impressed with laser cut crystals stored in converted maximum security prisons or whatever.
I think the people that would be impressed by that probably don't have a lot of money to store
People who pay for gimmicks don't usually get rich.
Well I guess we will find out come May 30 when they say the exchange is set to launch. June 1st for the vault.
And if I can't seem to get the "value of having a bank account to a lot of people" point across to you... I don't know what else to say really.
And if I can't seem to get the "value of having a bank account to a lot of people" point across to you... I don't know what else to say really.
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