Former Ripple CTO Stefan Thomas Cannot Access His Bitcoin Wallet Containing 7,002 BTC Worth $231 Million

[solodeji]

https://heraldsheets.com/former-ripple-cto-stefan-thomas-cannot-access-his-bitcoin-wallet-containing-7002-btc-worth-231-milion/

[wogojump]

36 minutes ago, solodeji said:

https://heraldsheets.com/former-ripple-cto-stefan-thomas-cannot-access-his-bitcoin-wallet-containing-7002-btc-worth-231-milion/

Stefan isn't very smart, but Ripple gave him (his company COIL) a 1 billion XRP.  So he is practically breaking even by selling the XRP funds "donated" to him by Ripple.

This is a good real life example why Bitcoin, XRP, or any other cryptocurrency would be a terrible form of security.  There would be no benefit to using cryptocurrency as a form of a security, when you can easily lose your master key. Actual securities that are useful, allow allow you to re-obtain or re-issue the security ownership to investors in cases like this.

[Benchmark]

4 minutes ago, wogojump said:

Stefan isn't very smart, but Ripple gave him (his company COIL) a 1 billion XRP.  So he is practically breaking even by selling the XRP funds "donated" to him by Ripple.

This is a good real life example why Bitcoin, XRP, or any other cryptocurrency would be a terrible form of security.  There would be no benefit to using cryptocurrency as a form of a security, when you can easily lose your master key. Actual securities that are useful, allow allow you to re-obtain or re-issue the security ownership to investors in cases like this.

True. So maybe the cryptocurrency of the future has yet to be invented.