Topic: If bitcoins go to $100 or even $1000 in value each, Could there be a Safeguard? - page 3. (Read 4825 times)

Hey its the same way i seriously expect a World Wide EMP will hit.
Anyway i didnt say tomorrow or next week for this to happen, its when bitcoins would hit $100+ a coin, right now they are about $12 a coin...

And? You seriously expect some robber is gonna just jump people on the streets for bitcoins?

"HEY! GIMMIE ALL YOUR BITCOINS?"
"What?"
"BITCOINS! YOU KNOW, THEY'RE WORTH THOUSANDS!"
"Bitcoins?"
*shoots*

There isn't really any good way to include a safeguard on Bitcoins that you want to be able to carry around with you and also spend.  But there are ways to separate your Bitcoins into various places with varying levels of protection against theft.  You can have a spending wallet that only contains a small amount that might get stolen, and a savings wallet that you keep in a safe place.

Businesses usually use time-lock safes in order to enable the storage of large sums while discouraging theft.  Put your savings wallet in one of those.

Is there a way to protect from the exchange rate shooting up?

It is extremely likely to jump more than twice its value over just a few days nonetheless jumping an order of magnitude or two.

So if you end up with more bitcoins at a value greater than you feel comfortable holding, you then read up on secure wallet storage.  This likely involves using a LiveOS and disconnected from the network printing some paper wallets and then sending funds to those wallets.  Then securing those paper wallets or bringing them somewhere where they are secure.

Coming "real soon" are easier methods of doing M of N, so there would be two people (or two of three even) that would need to agree on the transfer or it technically cannot occur.  And thus you can hand over everything you have but your funds are still secure.

Hey all paranoid bitcoiners (like me)
What if one day 1 Bitcoin is worth 100 or even more usd, could there be modifications to bitcoin protocol, Because if 1 bitcoin is worth that much one day and its like 99% Stable at that point, could there be modification to  the official bitcoin protocol to avid something called "Getting a gun pointed to your head for BTC"

Yes i know it sounds CRAZY, but hey there are people putting guns to people heads for currency's like WoW Gold and of course USD haha..
Anyway if bitcoin's price shot WAY up, is there a crazy way that someone could protect themself incase something like this happens?

Lets say something like this happens tomorrow:
A user is walking home from a long day at work, the user is 1 blocks away from home, all of a sudden a guy walks behind the user with a gun to his back, he tells the user to keep walking and to go into his house and give him all his bitcoins. The user would then login to his computer and send the btc to some new btc address and the gun men waits after 6 confimations then leaves and runs....

There is a high chance the gunmen walked away with thousands just now.
I am wondering if something like this can be done
A user is walking home from a long day at work, the user is 1 blocks away from home, all of a sudden a guy walks behind the user with a gun to his back, he tells the user to keep walking and to go into his house and give him all his bitcoins. The user would then touch his phone or ring or chest or something (lol) and it sends a sms message to his computer in which shows a regular bitcoin client (it would look 100% like a bitcoin client) except after hitting send on the bitcoin client it would send some "extra data" as in faking a bitcoin transaction in which after 6-7 confirms it goes back to the user who sent it, it would also contact the police (somehow?) so when the gunman goes home he notice he did not get shit.

I know what i typed sounds freaken sciyfie  but i think it could be possiable.


I am not requesting this to be done today, or tomorrow or even this year, but if bitcoins raises in value by a hell of alot, do you think the developers would support something like this?