A German programmer has 2 chances to guess his IronKey password or he’ll lose $280m in Bitcoin

Discussion in 'Crypto Assets' started by themickey, Jan 12, 2021.

  1. comagnum

    comagnum

    Last edited: Jan 13, 2021
    #31     Jan 13, 2021
    PoundTheRock and vanzandt like this.
  2. Yeah, like a patch on a fracture. Does not help much. As long as those crypto trading sites are infested by hackers there is no way this catches on big time. This is pure speculation and nothing else. A highly dangerous game for anyone with more than 0.5% invested.

     
    #32     Jan 13, 2021
  3. johnarb

    johnarb

    Yes, and of course everyone who sees your the shiny metal like firefighters won't think nothing of it.

    If you shift to custodial services argument, then you'll have to educate yourself on crypto, can't do it for you. Suffice it to say, you can look at Fidelity or Gemini for that amount of bitcoins where they have insurance coverage against hacks and all as part of their service.

    I sent you 5 listed points of DIY steps, but maybe you didn't read it and you can switch it up to Disaster Recovery as a Service if you want to have it professionally. Google it. They host banks so they are used to handling high value digital assets
     
    #33     Jan 13, 2021
  4. destriero

    destriero

    You're either at the mercy of your cold storage device/pswd or you sit at a regulated exchange (cbase) and raped yearly by the IRS. The dude owns a couple of Picassos and a Pollock and didn't think to use a low-level password? People put more thought into their gmail accounts.
     
    #34     Jan 13, 2021
    johnarb likes this.
  5. The moment you move it out of your wallet, you are exposed to theft and hackers. The websites that handle transactions are poorly designed, written, and safeguarded.

     
    #35     Jan 13, 2021
  6. RedDuke

    RedDuke

    you did not really answer my question. How can anyone withdraw 1 million without making 50 or even 100 transactions over 2-3
    Months since place like coinbase puts daily max limits?

    thanks
     
    Last edited: Jan 13, 2021
    #36     Jan 13, 2021
  7. johnarb

    johnarb

    I answered you on a different post, perhaps you missed it.

    I will update you of any limits when I sell, possibly starting next week, $150K worth of cryptos at Coinbase.

    As I mentioned on bitcoin price thread, my plan is to sell $25K, withdraw, $50K, withdraw, so forth. It's my cryptos exchange risk management SoP.

    I cannot and will not change that for ET cred points. Sorry.
     
    #37     Jan 13, 2021
  8. vanzandt

    vanzandt

    2 chances left huh?

    I'd find the world's best hypnotherapist and pay his/her price. At least give it one try.

    Regarding safely storing gold lol.... as someone pointed out here.. it melts easily.

    Ya'll are dummies.

    If I had decent amount I needed to hide, (which obviously I don't or I wouldn't write this)... I'd melt it down and make a large size flower pot out of a mold cast from an old ugly old flower pot, prime the bitch, spray paint it in some gaudy looking color, fill it with potting soil, and leave it out on the back deck where clovers etc will set in like weeds and make it look all the more worthless looking.

    When was the last time any of you read about an ugly 10 gallon flower pot (that weighs a friggin ton) getting stolen off someone's deck?

    Gold's easy to hide.
    It's called hiding in plain sight.
     
    #38     Jan 13, 2021
    Overnight and johnarb like this.
  9. RedDuke

    RedDuke

    Would appreciate if you post here what max they will allow you. Enjoy the winnings !!!!!
     
    #39     Jan 13, 2021
    johnarb likes this.
  10. vanzandt

    vanzandt

    #40     Jan 13, 2021