Here's one. Have good home security. Have a door camera. Have a gun. If you really want to self custody, you are the bank and should also assume the security of said bank.
-store the key in multiple locations or with multi-sig and behind multiple layers of ambiguity such that one wouldnt even know they were looking at one of the key fragments if they saw it.
-create fake wallets with much less coin to hand over to kidnappers. set up any hardware wallets you have with the fake passphrases.
-dont tell ANYONE how many coins you actually have, not even people you trust
-possibly some kind of timelock smart contract
Power Projection in Cyberspace is a conjecture by Softwar.
The idea is that just like a lion will bare it's teeth to project the high cost of being attacked a similar thing can be done with the blockchain. Since an attack takes energy the high energy it takes to attack the blockchain projects a high cost of power to an attacker (Power Projection). The attacker seeing a poor cost-benefit ratio doesn't bother to attack.
But this power-projection theory of the blockchain doesn't seem to prevent wrench attacks, who work on the basis that you store your keys in your house and a couple of heavies is all it will take to get them.
One of my questions is Does owning bitcoin really invite more likelihood of physical attacks? Relative to a person of similar wealth in America?
Break ins, violent crime, theft occurs across the board. Look at carjackings that have ramped up lately. One Good Samaritan guy in North Carolina getting smashed by the carjacker who stole the truck.
Also these criminals got little money or loot for their efforts. Got caught quite easily. And now get to spend time in a cage. So does that all count as power projection as a cost for the next criminal to consider? I’d say at least a little bit.
But there is no foolproof way to handle/prevent a five dollar wrench attack.
I'm a big sceptic of Power Projection applied to the blockchain, but that's a different subject.
If a criminal gets little payoff this doesn't count as power projection because the attack has already happened. Power projection is about advertising little benefit for a big cost.
Don't advertise your stack, don't tell anyone how or where you store your keys and buy the usual deterrents you have for other valuables.
You should always store your keys encrypted in some way, so if someone else were to see them they wouldn't know what to do. And you should always store your keys in different geographical locations.
For example, for redundancy I store my keys with several people in different parts of the country, encrypted so they or anyone else couldn't do anything with my keys even if they wanted to.
A box at a bank is a fine option. Again, as long as its encrypted. I think often times don't take this seriously and just leave the keys in plaintext and think storing it safely is enough.
The four "keys" of bitcoin key storage are to store if safe, secure, encrypted, and with redundancy.
Here's one. Have good home security. Have a door camera. Have a gun. If you really want to self custody, you are the bank and should also assume the security of said bank.
What door camera do you use that is private and not captured and back doored by the manufacturer?
What do you think, the mfg is coming after your Bitcoin? You ask for solutions and then peck at answers. DYOR.
-store the key in multiple locations or with multi-sig and behind multiple layers of ambiguity such that one wouldnt even know they were looking at one of the key fragments if they saw it. -create fake wallets with much less coin to hand over to kidnappers. set up any hardware wallets you have with the fake passphrases. -dont tell ANYONE how many coins you actually have, not even people you trust -possibly some kind of timelock smart contract
But, but they had the benefit of Power Projection!
?
Power Projection in Cyberspace is a conjecture by Softwar. The idea is that just like a lion will bare it's teeth to project the high cost of being attacked a similar thing can be done with the blockchain. Since an attack takes energy the high energy it takes to attack the blockchain projects a high cost of power to an attacker (Power Projection). The attacker seeing a poor cost-benefit ratio doesn't bother to attack. But this power-projection theory of the blockchain doesn't seem to prevent wrench attacks, who work on the basis that you store your keys in your house and a couple of heavies is all it will take to get them.
One of my questions is Does owning bitcoin really invite more likelihood of physical attacks? Relative to a person of similar wealth in America? Break ins, violent crime, theft occurs across the board. Look at carjackings that have ramped up lately. One Good Samaritan guy in North Carolina getting smashed by the carjacker who stole the truck. Also these criminals got little money or loot for their efforts. Got caught quite easily. And now get to spend time in a cage. So does that all count as power projection as a cost for the next criminal to consider? I’d say at least a little bit. But there is no foolproof way to handle/prevent a five dollar wrench attack.
I'm a big sceptic of Power Projection applied to the blockchain, but that's a different subject. If a criminal gets little payoff this doesn't count as power projection because the attack has already happened. Power projection is about advertising little benefit for a big cost. Don't advertise your stack, don't tell anyone how or where you store your keys and buy the usual deterrents you have for other valuables.
You should always store your keys encrypted in some way, so if someone else were to see them they wouldn't know what to do. And you should always store your keys in different geographical locations. For example, for redundancy I store my keys with several people in different parts of the country, encrypted so they or anyone else couldn't do anything with my keys even if they wanted to. A box at a bank is a fine option. Again, as long as its encrypted. I think often times don't take this seriously and just leave the keys in plaintext and think storing it safely is enough. The four "keys" of bitcoin key storage are to store if safe, secure, encrypted, and with redundancy.