Aww, come on now, you know that was specific for what I would do to handle a $1.1 Billion worth of bitcoin I am pretty sure Blackrock and others have data centers with more complex systems of checks and balances and committees and teams for handling high value assets, including bitcoin
Diversification. He was suggesting 2k BTC per laptop. So you could lose a laptop and still be rich! I think John doesn't have any Hardware Wallets and trusts what he is using since this is where his experience is. I honestly think though that it is totally fine these days as these devices are designed to be used to securely store your seed phrase and sign bitcoin transactions. You can even use QR codes to make transactions so that the device never touches the internet... no USB cable... no bluetooth.... just scanning a bunch of pictures that simply relay the transaction to whatever program you will use to broadcast it. So its virtually impossible to hack this device in any way and impossible to steal the private key from it.
I looked up how many banks there are, Pek, over 4500 in the US so you're saying they do this all the time, this guy transferred over $8.5 Billion on the night of July 3rd You're telling me that banks transferred about $3.8 Trillion on midnight of July 3rd, before a holiday weekend when banks are closed for 3 days? With no meetings, no planning, nothing because they do this all the time, they just did another one July 4th and tomorrow and the next day Why worry about the national debt? It's not much
yes. Billions of dollars are transferred all the time. Fx transactions, interest rate transactions. Corporate deals, etc.
Oh. He’s saying to keep the keys on a laptop. You can’t keep them in the cloud? Or is that a fear that you will be hacked. AWS and Azure have far more information on them worth more than a billion dollars and they aren’t hacked
I don't know why you would pretend not to know basics of computer security and risks and attack vectors It is possible to store and make all of these transactions $1.1B each wallet, 8 wallets using a cell phone, and who knows, it could have happened like that, we do not know, we were not the ones who made the transactions It is also possible to store 700k bitcoin that Blacrock owns in laptop inside Mr Larry Fink's office, or on his Google Drive secured by all of hundreds of billions of $ worth of Google physical security teams, software and firewall security teams.... and yet, Blackrock has to rely on Coinbase and signaled a move to have another bitcoin custodian firm to distribute some of the bitcoin holdings to Should they listen to you instead and do it themselves store on AWS or Azure?
what is the process from start to finish of a typical $1.1 Billion worth of transaction say a corporate deal you were involved in and how long from negotiations to completion to funds transferred final settlement to counterparties account(s)? This bitcoin whale did it 8 times within a few hours from start to finish, full and final settlement to destination addresses on July 3rd start time 11:45 PM