[Genghis Khan]

(12-19-2017 05:07 AM)Leonard D Neubache Wrote:  

Theoretically it would pay to have the lion's share in a place that only you can withdraw it from, such as a lock-box in a reputable banking establishment offshore.

Then at least you can negotiate and your captors have a good reason not only to keep you alive but to make sure you don't end up looking like you've been hit by a truck.

Google 'multisig wallets' for one solution. Multisig works by needing multiple people to sign off on a transaction (hence the term multisig)

So for example you could have a wallet with 2 people (you and an offshore banking institute). And you'd need both yours and the bank to sign off on a transaction. You could also do it with multiple people - say 10 people have access and you need 8 signatures to send a transaction.

Other option: use of smart contracts. So smart contracts, once created, can't be changed. They're immutable. What this means is that you could in theory send all your coins to a smart contract and have the contract send you back a certain amount every month (enough to cover living expenses). Hook it up to an oracle to see if you're still alive, and if you're dead send remaining balance to heirs/wife/whoever.

I wonder how that changes the game for kidnappers and blackmailers once the victims can't touch their own money.