With current Bitcoin volatility it's crazy to store money with it. I really love tech which allows me to remember passphrase and having all money locked inside my brain, so I would certainly use it if it weren't so volatile.
Look at Shamir Secret Sharing and consider hiding the keys in multiple locations that only you would know. You would need N of them from any of N x 3 friends and 1 of them from you.
Remembering where you stored one key is easier than remembering the seed phrase or whatever.
For good measure, watch the beginning of The Bourne Identity.
The rest is strictly optional
If you are worried about forgetting even the location you stored the backup key, you might want to have an additional safeguard, that if you don’t “phone home” for a year, then afterwards you announce on a public platform that you are OK, then the machine storing one of the Shamir keys (the one which only you know) will also copy it to an account that anyone can open using your biometrics.
That means, to steal your money, they have to kidnap you for a year, then go get N of your friends to give up your keys and also use your body to fake your biometrics and somehow get you to publicly announce you are OK (this last requirement would be well known to everyone around you, so if you forgot, anyone could tell you the personal key recovery procedure).
The biometrics must include M of N things that remain stable over years, like your eyes, cardiac pattern etc.
(And yes, that is a shortcoming of cash. Which is why we've invented other ways to store value, and approximately nobody stores their money in random holes on other people's property.)
I never claimed the contrary.
The prudent thing to do is to use Bitcoin for its intended purpose: electronic cash. Convert from fiat to crypto as needed, not as a store of value.
https://www.nytimes.com/2019/07/19/business/safe-deposit-box...
Yes...I do currently have 0.75 BTC in a locked wallet where I forgot the password and it's totally frustrating.
Some people used to think/want that Bitcoin was going to take over all other forms of money. I don't think many people still believe that. In that sense it's just like other forms of property that can be stolen.
I tried to get some info on their page and about the fifth sentence is:
> In the unlikely case of a black swan event, the system will employ Emergency Shutdown, a last resort to guarantee the stable price.
Hmm, I didn't wasted my time reading any further.
https://intercoin.org/economics.pdf
In order for that to happen, it has to be trading on multiple exchanges and for it to fail, all the exchanges’ stop-loss orders must fail at once.
Nothing can be pegged with absolute certainty, though, unless you liquidate everyone’s position before the peg breaks. Look at how Soros broke the Bank of England.