a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment by user-inactivated
user-inactivated  ·  4275 days ago  ·  link  ·    ·  parent  ·  post: Understanding bitcoin

    Let's just poke at one of the problems: loss of currency and the ability to inflate. Currently, if I have 100฿ in my wallet and that is lost to technical error (I misplace my USB drive, my computer melts down, etc)

I've never used BTC, but is there not ... cloud storage, or a remote backup, or some sort of failsafe? The situation you describe just seems to obvious for there not to be a workaround.





dublinben  ·  4273 days ago  ·  link  ·  

I have my laptop backed up, but still managed to lose the BTC in my wallet because the program is a piece of crap.

mk  ·  4272 days ago  ·  link  ·  

Ouch. What program?

mk  ·  4273 days ago  ·  link  ·  

There are a number of approaches. You can actually even have a paper wallet. Putting it in a safe deposit would be pretty secure. But, real security would be someone that insures wallets. Not there yet, as far as I know.

thundara  ·  4274 days ago  ·  link  ·  

All these things already exist, yet I hear stories every week of people whose backup solution failed in some way.