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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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5108269 No.5108269 [Reply] [Original]

>He doesn't store his crypto on a laptop with the wireless card physically removed
>He didn't construct a Faraday Cage to live inside of
>He goes outside with his smart phone without the battery removed
>He then connects his smart phone to his computer
>He isn't using a randomly generated 256 character ASCII password that only exists memorized in his mind
>He isn't well versed in pain management techniques so that if people torture him for his password they can't get it
He's never gonna make it

>> No.5108296

Those are just the basics dude

>> No.5108305

>>5108269
Ledger + cold storage. Anything else is just a waste of effort.

>> No.5108308

>>5108269
heh... yeah.

How does one remove a wireless card? Asking for a friend.

>> No.5108327

>He isn't using a randomly generated 256 character ASCII password that only exists memorized in his mind
How does this protect against psychics and wizards you fucking pleb

>> No.5108328
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5108328

>>5108269
Just use a ledger bro

>> No.5108330
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5108330

>>5108269
>He doesn't have encrypted copies of his wallets scattered throughout the world on SD cards
>He doesn't use safety deposit boxes in multiple countries to store his SD card backups
>He doesn't have 50+ SD card backups buried in the back yards of every relative and friend he's ever have
>He doesn't have his encrypted wallet backup stored in the BTC blockchain itself through block reward comments
He's never gonna make it

>> No.5108333

>>5108269
I keep everything on unverified exchanges that don't allow me to withdraw.
keeps it exciting. I'm either rich enough to buy a house or poor enough to sleep outside of one.

>> No.5108342

>>5108269
>He isn't well versed in pain management techniques so that if people torture him for his password they can't get it
kek

>> No.5108374

>>5108330
>>He doesn't have 50+ SD card backups buried in the back yards of every relative and friend he's ever have
>trusting people
you already lost

>> No.5108395
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5108395

>>5108330
>He hasn't socially isolated himself from all human beings to avoid the possibility that a female might woo him, trick him into marrying her, then take half of his crypto gains when she divorces him
>He hasn't moved to an isolated island nation to avoid the skin crawling feeling that being within 1,000 miles of a central bank's physical branch gives him
>He didn't construct his computer from NAND gates by hand
He's never gonna make it

>>5108374
>you already lost
(((encrypted with 256 character random ASCII password)))

>> No.5108403

>>5108305
What do you mean ledger + cold storage. Isn't using a ledger cold storage?

>> No.5108413

Robbing weak NEET's for their BTC is a great idea.

>Find rich Bitcoin NEET
>Pretend to be qt waifu
>Get address
>Come over with thug friends
>Take all your BTC
>Get arrested, cops can't take back BTC
>Come out of jail to BTC $1 million each

What's wrong with this plan /biz/, seriously considering it.

>> No.5108430

>>5108269
this doesn't seem like the payment system of the future?

what if I die, how do my wife and kids get my money? I can't just give my wallet info to some lawyer

>> No.5108450

>>5108327
>he hasn't been practicing zen meditation for years attaining complete mental silence at all times
>he doesn't have his ajna chakra fully open enabling him to detect any attempts at psychic intrusion by LHP adepts

>> No.5108452

>>5108430
Smart contracts that can check for instances of your death on the internet and release keys to your family members.

>> No.5108457

Been doing thr crypto meme since 2013 and never took it off exchanges

>> No.5108464
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5108464

>>5108452
>he gets it

>> No.5108484

>>5108430
Hey anon, here is how you do it:

>Put the BTC you want to be inherited into one wallet
>Generate a random binary string S the length of your wallet seed
>XOR cipher the wallet seed with S, let's call the result X
>Give your estate lawyer S
>Give your wife and kids X

X = WALLET_SEED xor S

Now when you die, the lawyer gives your family X, and since they already have S they can simply calculate this:

WALLET_SEED = X xor S

And give instructions to the family on how to use this.
This is, nobody knows the entire wallet seed until after you die unless the lawyer conspires with your wife to take your crypto earlier than planned, in which case you have bigger problems

>> No.5108487 [DELETED] 
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5108487

reminder that this is the next 10x

>> No.5108501

>>5108452
What is this smart contract? Relying on internet news seems rather foolhardy don't you think? Being a mega millionaire can make you targets for organizations, even countries. They could bump up fake news of your death and cause your keys to be released.

>> No.5108508

>>5108452
This is impractical right now but will hopefully be possible in the future with trusted death registrars. My XOR solution is the only good one that exists right now
>>5108484

>> No.5108511

>>5108484
it's idiotproof, my mom could do it

>> No.5108514

>>5108269

>He didn't learn Kaixana from the world's last living speaker then develop an entirely new linux distribution built in the language
>He hasn't learned to think in base 47 so that all significant dates and numbers seem meaningless to outsiders
>He hasn't carefully crafted an external persona of being technologically illiterate and poor, spending all day panhandling on the street

Seriously never going to make it.

>> No.5108538

>>5108508
>This is impractical right now but will hopefully be possible in the future
just like we all will be sending encrypted emails with PGP, right?

>> No.5108550

>>5108501
Just giving an example. People would obviously integrate some kind of safeguards to prevent fraud.

>> No.5108555

>>5108484
But if my wife divorces me, wouldn't the estate lawyer then be obligated to provide the S, especially since my wife would know he has it?

There's also situations where both mother and father go out together, e.g. a car crash, with surviving children. You wouldn't be able to leave anything to your kids. What makes crypto secure against your money being forcibly taken from you also seems to make it unable to adapt to common sense situations like being able to pass the money on easily.

>> No.5108559
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5108559

>>5108514
>He hasn't completely eschewed all social contact with ex family and friends, pretending to be a schizophrenic, to avoid them trying to steal his crypto
>He hasn't faked his death to make sure nobody even bothers to try to come after him for his crypto
He's never going to make it

>> No.5108589
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5108589

>>5108269
I'd just like to interject for a moment. What you're referring to as ASCII, is in fact, US-ASCII or as I've taken to call it US plus ASCII. ASCII is not an encoding system unto itself, but rather another free component of the predominant typographical symbols used in the United States, comprising a full character encoding standard as defined by IANA.

>>5108308
>open the machine
>remove the card
It's not illegal, wrong, or discouraged. They literally slide out.

>> No.5108590

>>5108555
The xor ciphered seed can be given to the children as well and their godparents. Not just your wife

And presumably the legal agreement with your lawyer would not include giving her your crypto if she divorces you

>> No.5108591

>>5108413

>Go to NEETs house
>Realise he's a /biz/raeli
>'OH NO NO NO NO'
>Check his MEW
>100K CFD, 80K DGB, 30K SIA, 0.2 ETH, 3 cryptokitties

>> No.5108602

>>5108484

>Lawyer looses X

That is. Nothing happens. Family doesn't give a fuck about magical internet money. Lawyer continues on with his life.

>> No.5108612

>>5108403
He means putting it in the freezer dumbass.

>> No.5108621

>>5108484
Nah that requires trust of the lawyer. Better to program some dead man's switch that requires you to enter some code at regular intervals or else it emails S to your family.

>> No.5108625

>>5108559

>He doesn't realise hiding in plain sight is the only way to avoid the letter agencies
>He doesn't realise acting like a schizophrenic recluse who faked his own death will have the gov't on him like white on rice.

>> No.5108647

>>5108602
It wouldn't be held by the lawyer himself, but rather by the reputable estate management firm for which he works. It's not like they're complete scammers, they do this stuff all of the time. And money is money, explain it to your family.

>> No.5108650

>>5108621
Jail and comas are a thing.

>> No.5108790

Fuck the kids. I'm taking my BTC with me to the grave. I'm just following Satoshis example.

>> No.5108953

>>5108790
why have kids and a wife if you don't care what happens to them after you're gone? You might as well pay for hookers and volunteer for kids organizations

>> No.5109928

>>5108450
>he’s never going to make it

>> No.5109979
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5109979

>>5108589
10/10 copypasta

>> No.5110446

>>5108591
Underrated

>> No.5111014
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5111014

>>5108591
Criminally underrated