How the First Bitcoin Hedge Fund Approaches Security 124
An anonymous reader writes with a link to a story at Forbes about what's said to the first Bitcoin hedge fund; the article goes into some of the details of how the (literally) valuable data is kept. A selection: "The private key itself is AES-256 encrypted. After exporting Bitcoin private keys from wallet.dat file, data is stored in a TrueCrypt container on three separate flash drives. Using Shamir's Secret Sharing algorithm, the container password is then split into three parts utilizing a 2-of-3 secret sharing model. Incorporating physical security with electronic security, each flash drive from various manufacturers is duplicated several times and, together with a CD-ROM, those items are vaulted in a bank safety deposit box in three different legal jurisdictions. To leverage geographic distribution as well, each bank stores only part of a key, so if a single deposit box is compromised, no funds are lost."
My Hedge fund (Score:1, Funny)
It's based on the Zimbabwean dollar. It's pretty secure too - I've rented safe deposit boxes all around the world and put the notes in them.
For some strange reason though, the money's not exactly pouring in.
Re:Literally (Score:2, Funny)
Because they are literally stupid.