The problem with tying your wealth to private keys is that non-geeks (and even some geeks) are inevitably going to lose them, or expose them by accident.
Tying your wealth to your real identity would be more secure and more user friendly, but it would sacrifice privacy.
I'm not sure how this could be done in bitcoin, but here is an idea:
You could create a special multisig transaction that needs to have 20-of-100 signatures before you can spend it. Then you choose 100 family and friends and give each of them a private key.
So before you can spend your coins, 20 of your friends need to "tell" the bitcoin system that address X really belongs to you and hasn't been compromised.
Topic: Privacy and security trade off (Read 694 times)
Is it possible to get little more secure bitcoins, if privacy is not a concern ?
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