Lol, manage the discussion.
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This only looks narrowly at the particular event and ignores its crucial context.
Interestingly you could design key mngmnt around run-away security, where you keep your key share on your person, vs. stand-your-ground key mangmnt where you lock your share in a safe. Different physical security strategies may lead to very different key mngmnt strategies.
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The safe deposit box is outsourced stand-your-ground security that introduces some trust in strangers, but yes an option if the holder has run-away physical security at home.
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The advanced technology of crypto won't see widespread adoption if we try to persuade users to return to mattresses, holes in the ground, or fake cans of Spam (or Coke or hairspray). We need a better digital ID and a Cryptocurrency Deposit Insurance Corporation.pic.twitter.com/MkjY80PUVs
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Not so bad if they are just one part of a multisig tho. How about a 2-of-3 scheme for run-away security: 1. on a credit-card-form-factor bitcoin hardware wallet in your physical wallet, 2, ditto with household member who is also a fast runner, 3. in safe deposit box.
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That's a start and a helpful lead for your followers! As much as crypto has value for disintermediation in socio and political economics, we don't need to reinvent secure storage of and distributed auth to access stuff, that's worked pretty well for some time, we just improve it!
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Any physical attack is a problem, that's why we need to improve digital ID and distributed authorization as well as deposit insurance to cover cryptocurrency.
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Cryptocurrency will not succeed without some sort of decentralized key recovery system. There is a reason why every single major tech platform has a forgot password button. Everyone forgets their password. Thinking the average consumers will store a physical key is ridiculous.
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Bitcoin already has decentralized key recovery. It’s called multisig. Didn’t
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Will the average Joe be able to use it? If not, it won’t be adopted by the masses.
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