Bitcoin Q&A: Key Management and Inheritance Planning
Channel: aantonop
Date: 2018-12-07

How does the average person solve the "$5 wrench problem" / prevent rubber-hose cryptanalysis? What is the easiest way to do a multi-signature or multi-factor set-up? Could timelocks and smart contract solutions be used for inheritance issues? The technology and educational resources around key management need to mature first. There needs to be a pragmatic balance between legal and technical plans, with human-based processes and controls. Take an entrepreneurial perspective and you will help overcome the barriers to adoption!

You can find out more about Third Key Solutions here: https://thirdkey.solutions/who_we_are/

The XKCD comic I referenced: https://www.xkcd.com/538/

Chapters
0:00 My wife and I are currently working on a multi-signature setup to avoid the '$5 wrench problem,' but also make it available for our potential heirs. We have been thinking a lot and the setup is almost overwhelming; it feels like our heirs will be going on a Robert Langdon treasure hunt to access our savings, and also keep it secure while we are still alive. What would you suggest for people trying to set these up?
4:43 Can you give us some of your thoughts on rubber-hose cryptanalysis?
7:22 Inheritance problems and possible multi-sig solutions
14:04 One of the systemic problems that I see, that occurs to me every day while holding cryptocurrencies, is caring for my family and the inheritance issue, which is a big deal. We have no idea what will happen to our coins if there is forking or nation state attacks. What happens at the end of our generation? What do we need to start thinking about, at this time, to secure these assets, in a multi-generational effort?

These questions are from the September and October Patreon Q&A sessions, the HoshoCon event, and the Seattle 'Internet of Money' tour event, which took place on September 29th, October 27th, October 11th, and November 10th 2018 respectively.

If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

RELATED:
Security vs. Complexity - https://youtu.be/M82t5wZG3fc
Advanced Bitcoin Scripting, Part 1: Transactions and Multisig - https://youtu.be/8FeAXjkmDcQ
Advanced Bitcoin Scripting, Part 2: SegWit, Consensus, and Trustware - https://youtu.be/pQbeBduVQ4I
What is a private key? - https://youtu.be/xxfUpIV9wRI
Public keys vs. addresses - https://youtu.be/8es3qQWkEiU
How do I choose a wallet? - https://youtu.be/tN6b62sEpsY
Secure, tiered storage system - https://youtu.be/uYIVuZgN95M
Hardware wallets and attack surface - https://youtu.be/8mpDcBfNA7g
2FA and secure hardware - https://youtu.be/4m3RXCX4zl4
Setting up secure storage devices - https://youtu.be/wZ9LxLLvfXc
What is a private key? - https://youtu.be/xxfUpIV9wRI
How do mneomonic seeds work? - https://youtu.be/wWCIQFNf_8g
Using paper wallets - https://youtu.be/cKehFazo8Pw
Wallet design and mass adoption - https://youtu.be/WbZX6BDZJHc
Cryptographic primitives - https://youtu.be/RIckQ6RBt5E
Public keys vs. addresses - https://youtu.be/8es3qQWkEiU
Re-using addresses - https://youtu.be/4A3urPFkx8g
Coin selection and privacy - https://youtu.be/3Ck683CQGAQ
Multi-signature and distributed storage - https://youtu.be/cAP2u6w_1-k
Nonces, mining, and quantum computing - https://youtu.be/d4xXJh677J0
Software distribution security - https://youtu.be/_V0vqy046YM
Protocol development security - https://youtu.be/4fsL5XWsTJ4

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

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MASTERING BITCOIN, 2nd Edition: https://amzn.to/2xcdsY9

Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/

THE INTERNET OF MONEY, v1: https://amzn.to/2ykmXFs

THE INTERNET OF MONEY, v2: https://amzn.to/2IIG5BJ

Translations of THE INTERNET OF MONEY:
Spanish, 'Internet del Dinero' (v1) - https://amzn.to/2yoaTTq
French, 'L'internet de l'argent' (v1) - https://www.amazon.fr/Linternet-largent-Andreas-M-Antonopoulos/dp/2856083390
Russian, 'Интернет денег' (v1) - https://www.olbuss.ru/catalog/ekonomika-i-biznes/korporativnye-finansy-bankovskoe-delo/internet-deneg
Vietnamese, 'Internet Của Tiền Tệ' (v1) - https://alphabooks.vn/khi-tien-len-mang

MASTERING ETHEREUM (Q4): https://amzn.to/2xdxmlK

Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
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