This is a core developer.
Even core developers are not competent to run their own bank.
Can we now stop hearing about how the unbanked should start running their own banks?
“My PGP key is compromised, and at least many of my bitcoins stolen”
471–480 of 564 posts
Re: “My PGP key is compromised, and at least many of my bitcoins stolen”
#472Earlier quoted context omitted.
Most people don’t use these anymore. Like crypto, the main utility is for crime.
I still have yet to use my crypto on crime, i have however bought numerous things with various coins..
Just for fun, or why?
I try to use my credit card as much as possible for remote purchases, because if the extra legal protections.
Re: “My PGP key is compromised, and at least many of my bitcoins stolen”
#473Earlier quoted context omitted.
Because the average person always follows security advice?
The average person also isn't a prominent bitcoin core developer who holds 200 BTC. If you're as exposed as this guy, I think it's fairly reasonable to at least follow the most basic of security advice.
That something is reasonable theoretically, does not mean it will be done in practice.
Re: “My PGP key is compromised, and at least many of my bitcoins stolen”
#474Earlier quoted context omitted.
Can you go into more detail about how multisig helps? I assume one of the signatures is my hardware wallet. Who holds the other signature? Do they have SIPC insurance? What happens if my wallet is lost or destroyed?
Let's say I have a 3-of-5 multisig. That means there are 5 hardware wallets. I put a hardware wallet in my safe in my house, one in a bank deposit box, and 3 with 3 friends or relatives. Now a thief needs to steal 3 of these to steal the coins. That's going to be hard for a thief to do. If a fire or natural disaster happens, it needs to destroy 3 wallets before I lose my money.
Yes, it's a low risk. Perfectly executed this is maybe a risk of one in ten million. So on a worldwide scale this means that it would happen every day, to someone.
But it won't be perfectly executed. Let's say you need to do a transaction while you're moving house. And maybe one of your relatives is in financial trouble.
You (probably) don't have the means to do what banks do, and hire an armored transport.
Re: “My PGP key is compromised, and at least many of my bitcoins stolen”
#475Haha!
Evidently a complete lack of security or worth judgement.
"$300/mo for a rack is expensive" (no, no it isn't) "Someone booted an unknown OS from external media" (no FDE)
Machine compromised on the "17th of november* and instead of considering everything compromised, the guy continued using it evidently.
Zero sympathy whatsoever, if you can't manage the basics you certainly shouldn't be running it yourself, and definitely shouldn't be "core" developer on projects that require at least some security clue
(Also religious nutjob, as referenced in another thread)
Re: “My PGP key is compromised, and at least many of my bitcoins stolen”
#476Earlier quoted context omitted.
Isn't it surprising that an early Bitcoin adopter has "only" 216 Bitcoin? Didn't he join at a time where you'd be mining full blocks solo? (One of his later tweets claimed that "it's basically all gone" or something like that, implying this wasn't just a small fraction of his total coins.)
People forget bitcoin wasn't worth anything for a long time. You take care of an asset worth millions very differently than an asset worth pennies and too much of a pain to transact for cash anyway.
Someone being around since 2011 and believing in bitcoin, and only having hundreds of BTC today is implausibly rare.
Back in 2011, a desktop CPU would mine thousands of bitcoins per month.
Re: “My PGP key is compromised, and at least many of my bitcoins stolen”
#477Earlier quoted context omitted.
I'm not going to comment on his overall opinions, but it does seem like his judgement is severely compromised. I wonder if that led to the negligent behavior which allowed the coins to be compromised and stolen - a discount server host with a history of being compromised seems like the absolute wrong place to store large sums of value.
Inclined to agree here. Luke is going on about Intel ME backdoors on Twitter, but in reality there will be a far less crazy explanation for how he got owned.
In reality a $55 per month colo provider with a history of security incidents is not a reasonable choice for a high security application.
Re: “My PGP key is compromised, and at least many of my bitcoins stolen”
#478Update: https://twitter.com/naka_frodo/status/1609655813789949959/ph... Looks like possibly a supply chain attack targeted specifically at Luke Jr's server.
He put info connected to 3.6m BTC onto a colo crossing server? Jikes
He is also looking for new "affordable" colo options. Budget $55 a month.
Re: “My PGP key is compromised, and at least many of my bitcoins stolen”
#479Earlier quoted context omitted.
>These things happen every day, but happening to a core developer (if confirmed!) who has a deep understanding of the systems and security indicates just how fragile crypto can be (in my opinion) Based on the other comments in this thread it looks like he didn't bother using a hardware wallet (which is literally something that's recommended on bitcoin.org[1]), and kept his wallet.dat on a server exposed to the intern…
The original argument is still valid. It doesn't matter if he did it right or not. He got robbed and he will never see his crypto again. How on earth would anyone with less knowledge than him be able to do it right. You probably give up explaing my mom why she should have used a hardware wallet...
most people do, apparently