Comment: From what I understand, you

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In reply to comment: You missed the distinction (see in situ)

From what I understand, you

From what I understand, you can essentially place your wallet anywhere on the internet or anywhere on your computer. You can even place it on a usb stick. This to me is no different than hiding it in a mattress or burying it in your backyard. The hacker would still need to know the location of WHERE the wallet is hidden, before he can make an attempt to steal it. And it's even possible to put an extra layer of protection over this wallet.

I still don't see the distinction. Maybe you need to use another example.