21–25 of 25 posts
> Prime Trust pitches itself as a crypto fintech company designed to help other startups offer crypto retirement plans, know-your-customer interfaces, ensure liquidity, and a host of other services. A crypto pension plan administered by this lot? Sounds like a recipe for multiple heart attacks.
thus solving the problem of paying out pensions
Earlier quoted context omitted.
Even with multisig, each individual key holder has to manage their device, and the steel backup for that device. And there exists possibility of collusion between n of m of the multi sig holders against the other holders. Seems like it would still keep me up at night (though with SVB, standard bank accounts are starting to look shaky too). Having not worked for a crypto company, curious what the standard best practic…
even the laser etcher is a problem :)
> Rather than write down the seed phrases, Prime Trust opted to laser etch them into a piece of steel ... which ... it lost So, someone or someones have the steel piece(s) with the seed phrases on them. And that person or persons will be able to retrieve the funds at a future date, when the timing and location seems suitable. Maybe in say, Switzerland, when the prices for ETH, Bitcoin (etc) are high. That's pretty in…
They should contact the laser etching company and see if the gcode file is still on drive of the etching machine... (They probably requested the company shred the files or whatevs but given the overall low level of due diligence I'd say it's worth a shot).
It seems cool, but the site spends a lot of time talking about how difficult to destroy they are, which makes me wonder how much of a PITA it would be to destroy the left over tiles/disks (so no one going through your trash could figure out which letters you used).
Earlier quoted context omitted.
They should contact the laser etching company and see if the gcode file is still on drive of the etching machine... (They probably requested the company shred the files or whatevs but given the overall low level of due diligence I'd say it's worth a shot).
No one etched the actual password into anything for them, they bought a product[1] that includes a bunch of steel disks or tiles with letters engraved on them. You then assemble the pieces - either by sliding the tiles into the grooves of a card-like thing, or by putting the disks onto a spindle that you put into a tube (depending on the version you get). It seems cool, but the site spends a lot of time talking about…