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This creates an interesting point of failure. What happens when the private key is stolen or hacked? Because the ETF holders are holding cash with the expectati
by drivebyacct2 13y ago
This creates an interesting point of failure. What happens when the private key is stolen or hacked? Because the ETF holders are holding cash with the expectations of assurances and insurances that cash comes with. But uh, that's not how Bitcoins work.
- sirsar 13y agoIf the Winklevii own "1% of all Bitcoins," I would hope that they know how to do split key sharing and store their Bitcoins on paper. I would hope.
- jessaustin 13y agoIf they've owned this sum for any amount of time, that is actually some argument for their having the proper security skills to run something like this.
- drivebyacct2 13y agoI thought it said proprietary system with the key stored in a US bank? :(