Cryptonauts - The Evil Nano

in writing •  7 years ago 

Hello again Here comes my second fiction tale, inspired by my recent adventures in the cryptoworld...
Any resemblance to actual persons and tokens, living or dead, or actual ICOs, is purely coincidental.
😊

ICO went fine. So, now, how do you manage 10 million USD in ETH, given that sometimes they turn into 11 if you just go for a wee and come back? O perhaps 9? Or 7? Or 13? Volatility is one thing....and what about getting the funds stolen altogether....? This thought drives me crazy...

Jeff Wiseman suggests using a Multisig wallet together with a Nano.

Since Nano means dwarf in Italian, the whole thing sounds to me like excerpts from The Lord of the Rings...
It turns out that we are not in Middle-earth. We are in Cryptoland...an even crazier place!

Jeff explains that in the language of Cryptoland, Multisig indicates a type of wallet which requires more than one signature to trigger transactions. For this reason, a Multisig is supposed to be safer than an ordinary wallet such as Metamask. For example, you can link three signatures to the Multisig, with onlly two signature required to send transactions.

In other words...if one of the cryptonauts freaks out or disappears, the other ones keep all the money. And what if two out of three fellas disappear? Well, if that happens, funds will stay frozen in the wallet FOREVER.
In cryptoworld, FOREVER means FOREVER (barring forks)! There are no banks, governments, gods or mamas to help you. If Multisig wants two signatures, and you can only provide one...then you better forget about the money. Or, if you are a true masochist, you can watch your money everyday on etherscan.io It's so close...but you can't touch it.
People who experienced that say it feels like being a astronaut on a space walk when the tether linking you to the space station breaks down...then you know you'll die while watching the safe place which is just one meter too far, and nobody can help you reach...


Image Source

Jeff's reply to my objections is that we just need to write down on several pieces of paper the private keys corresponding to the wallet signatures, then bury them in secret places, or give them to our grannies who will knit them inside old mattresses...and we'll be safe!

The whole thing now sounds like utter nonsense to me. Are you telling me that high-tech Multisig wallets are really safe only if I write magic words on a piece of paper and give it to my granny...?!?
To me, this is final proof that the cryptoworld makes no sense, nonetheless I decide to shut up as I am not a dev.
In the end, we decide to go for Multisig, as it's state of the art in security, lol. And the fact that some time ago 300 millions USD in Ether went frozen because of a faulty multisig wallet is indeed an irrelevant detail, right?

Now, you might ask what the Nano has to do with this? Here it comes....


It looks like a USB key, but in fact it's a single-signature wallet. So, for example, three Nanos can live in a Multisig and collude to sign transactions.

Now, the obvious question: what happens if my Nano goes missing? Jeff shakes his head, and whispers ominously that if the Nano is gone, the money is lost forever. Hours later, he will concede that the Nano will come back if you know the 24 magic words which can resuscitate it. Yes, he did say those very words! At that point I got up and walked out, feeling that the whole thing was a joke.
As a matter of fact, that was the plain truth...which is the ultimate proof that we live crazy times and the cryptoworld is more magic than Middle-earth.

2018 is going to be fun...

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Nano is nano. Whatever you could say about him. It means small, pretty and lovely servant who supports you all life long. Do not speack badly about nano. Be careful 😂

Hopefully in 2018 will be better than now

Very good everything you just mentioned, I like it, I hope and go through my blog I'm new, Count on myself

Hello, great work, i liked your post and reward it with upvote.

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