Sounds hard, because it would be hard to prove that you lost a key. You could al... | Hacker News

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dheera on June 28, 2021 | parent | context | favorite | on: Binance banned from doing business in UK

Sounds hard, because it would be hard to prove that you lost a key. You could always pretend you lost it.

But if the blockchain supports actually invalidating those coins and transferring them to a new wallet via e.g. 3 trusted friends with pre-pregrammed wallets that sign and verify your new wallet, maybe it could work.

earnesti on June 28, 2021 | [–]

If you are going to involve more people, just use multisig.

pedalpete on June 30, 2021 | [–]

I think I was meaning more like how the banks are insured applied to exchanges, not a personal insurance.

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