Come On, Netscape Moment, Please, Please…
I felt weak in the knees, my heart rate increased, it was nearly racing. My hand trembling, adrenaline rush invading my body. No, I’m not speaking of love or sexual encounter, and wasn’t sick either. I’m telling the story as I accessed my Bitcoin cold wallet on an old offline computer middle of December 2017, to sell one smaller part of my treasure.
What a craze
I buried most of my Bitcoins in 2013 in this cold wallets and after reading so much about hackers and security issues, or recommended practices over the years, I wanted to be fully prepared and perfectly caoutious. My non-expert wife said: “what a craziness, this Bitcoins”.
“For people with serious heart problems, love could actually be dangerous”
– wrote CNN.com years ago about the same physical symptoms.
Can’t survive with Bitcoin here
So I think Bitcoin isn’t for the weak either, but it is intended to serve for all, in everyday use, after the “mass adoption”. But if is so complicated to use it safe, I don’t want to use it daily. I hoard it in the safe paper wallet, and will access it only if it was very-very necessary.
Illustration: Bitcoinpaperwallet.com
OK, I can hold some Bitcoins in my phone to pay some smaller expenses. But there are not really many places accepting it – yet. VoiceIP, VPN, may be some day an e-book, but I can’t eat with my Bitcoins here.
If I die tomorrow
Other concerns are, where to put this cold wallet, private keys to hide it from possible robbers, but to make it accessible to my family if something happens to me. If I die in an accident tomorrow. And the Steemit keys? And if I get to be a Steem whale? I should think about this case.
Please, programmers, invent something nice, user friendly and safe at the same time. Let’s bring the Netscape moment to the cryprocurrency-space. I think this is one of the important factors that is preventing mass adoption.
(Hardware wallets and cold /offline/ paper wallets are considered the only safe ways to store cryptocurrencies.)
Given the recent hype in prices, the amount of developers coming into the blockchain and cryptocurrency space is large and only time will tell when the next best thing comes out to accelerate adoption. I heard about a project that creates an estate like process to secure your keys for your heirs in case of an unexpected loss. Technology always grows immensely and I would not expect otherwise in the blockchain space especially given the amount of interest and valuations currently seen.
Nice post. I think anyone who has bitcoins, would have same concerns.
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