how to make a computer program to move continents

That's why Taihuttu doesn't use banks or post offices. That's the equivalent of burying a bar of gold in your backyard,' said Castle Island Ventures general partner and Coin Metrics co-founder Nic Carter. 'If you want to store your coins truly outside of the reach of the state, you can just hold those private keys directly. While centralized vaults like these offer certain security protections, Taihuttu said it feels too centralized to him. Swiss bunkersīuried in the Swiss Alps is a vault inside a decommissioned military bunker that's cut off from the internet, guarded by an onsite security team, and apparently, according to digital bank Xapo's website, 'watched over in the skies by satellite.' The precious merchandise under lock and guard is bitcoin.Ĭoinbase bought Xapo in 2019, an unsurprising move for a company that stores 98% of customer funds offline, in order to provide ' an important security measure against theft or loss.' Taihuttu is trying to put a crypto cold wallet on every continent so it's easier to access his holdings. Drawing down on his cold crypto requires physically flying to his many hiding spots. 'Cold storage requires a lot more permissioning in order to access it, whether it be in a bank vault or whether it be buried in the Andes mountains,' said Van Phu, a software engineer with crypto fintech start-up Floating Point Group.Īnd while Taihuttu said it's easy to top up the addresses of these cold storage wallets with fresh crypto coins, retrieving them is a different story.

For as long as there's been bitcoin, there's been a way to store it cold.

Moving bitcoin to cold storage isn't a new idea. These cold hardware wallets, which are spread around the globe, include bitcoin, ethereum and some litecoin. The family declined to say how much it holds in crypto.īitcoin, ethereum and litecoin are all in the midst of yet another climb higher, up 57%, 83% and 61%, respectively, in the last three weeks. The other 74% of Taihuttu's total crypto portfolio is in cold storage.

How to make a computer program to move continents