Such confidence in Bitcoin is splendid, but a 94,500 BTC tx tempts fate. If recipient can make that much from reversing the tx, they can afford to run a 51% attack for more than 40 days. Big if & very visible, but security here depends more on trust & less on the protocol itself.https://twitter.com/whale_alert/status/1169815776733220866 …
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@eiainehttps://www.bloomberg.com/opinion/articles/2019-01-16/bitcoin-and-other-cryptocurrencies-are-open-about-being-at-risk …7 replies 16 retweets 117 likesShow this thread -
If this is a tx internal to an organization, while that doesn't make it risk free (indeed just trusting employees with custody can be risky), their key management & other internal controls, not raw difficulty of reversing BTC tx, is their main protection for such a large amount.
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Replying to @NickSzabo4 @eiaine
The smarter move would be if he/her split that TX up, right?
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It does seem extreme. When dealing with so much it seems that no amount of op sec and security overkill would be too much. Splitting into $50 mm increments over a few days & addresses seems basic. But
they have more sats than me so they must be doing something right.
2 replies 0 retweets 4 likes
Very likely a tx internal to an organization. Relying on their key management & other internal controls, not on the difficulty of reversing Bitcoin tx. Hopefully they understand this, and hopefully others doing actual value-for-value exchanges don't think they can emulate them.
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