this post was submitted on 18 Mar 2024
254 points (92.6% liked)
Technology
59577 readers
2939 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
It's ability to be stolen really comes down to was the password to it ever written down or did they not use a password.
If they didn't write it down, you could conceivably keep it safe from theft as long as the people that know the password don't give it up if tortured.
Also breaking it up into multiple wallets with different passwords that not everyone knows would limit a complete theft.
Edit: in the scenario where it can't be stolen, killing everyone that knows the password would still leave the country with nothing though.
It has to be easy enough to move the Bitcoins that it can be done when needed. For example, if you split the password up among too many people, then you could "disappear" one of those people and then the Bitcoins suddenly cease to exist (or practically so).
So there's a balance. If it's easy to move the Bitcoins, then a thief can find a way to move all the Bitcoins into their own wallet. Or, if it's very difficult to move the Bitcoins, then an adversary can find a way to make it impossible to move the Bitcoins, essentially destroying them.
I think they should do something dramatic like having a room where the NOC List was stored, but with an air vent on the door instead of the ceiling.