This is confused or wrong. They don’t have a large number of devs working on Core. They did propose and code a solution which increased the block size. Saying things are fishy and that open source solutions widely reviewed over years by a broad set of people have some secret easy supposed backdoor, seems pretty wrong to me.
I don't know what the market will do, maybe fall hard, but I can tell you from personal experience it has utility over the alternatives in situations I've come across
I could send coins to nick at gmail. please correct?
-point taken;
-any suggestions to make more secure with good user experience?
-input 12 english words for opening app every time?
-Is Electrum simpler?
-Seed is BIP standard
-point taken;
-If there is a standard, we will follow;But if it's another 3rd party, then we hesitate;
BreadWallet is cool. But it doesn't support email and multiSig. And the UI is not very good.
- I'd incorporate touchID, I've used it in iOS and it's easy to add.
- One feature I'm thinking about for my iOS apps is using the Apple Watch as a 2nd factor auth mechanism. I haven't looked into the feasibility of it yet though and probably not many people have smartwatches
- After the user writes down the seed when setting up the wallet, challenge them to verify their written seed. I think this is how Electrum works, try that out
- BIP standard is a good idea for the seed, but try and mention other wallets that the seed can be used in, for reference purposes
- Multisig is definitely the winner here, but I'd go farther, really look into trustedcoin API
Please check your wallet for 1mbtc as my appreciation.
-TouchID is in the plan;
-AppleWatch as well;
-challenge with seed? Users already complain the current process why to write down the seed. Very hard to balance security and usability; Electrum is for pro;
-Good suggestion;
-Our multisig has some specific security design. Not sure if bitGo or Trustedcoin supports. We will certainly support more 3-rd parties once we have bandwidth;
thank you again.
Thanks for the 1mbit :) The absolute killer feature for me is multisig with a second party, based on a standard BIP backup seed - so 2 of 3, I hold 2 keys on a paper wallet, the mobile app holds 1 key, the trusted other party holds 1 key, 2 keys are needed to send transactions.
Basically my preference for bitcoin software is like this:
1. If there is a bad update to the software, I feel safe that it doesn't matter too much because there is a secondary signature needed to approve a transfer
2. If the software is discontinued or I want to stop using it, I feel safe it doesn't matter because I can restore from a seed elsewhere
I appreciate safeguards to the device like the touchId etc, however there's a tricky balance there of security vs usability. I think using the touch movement pattern is a great idea for a backup method and touchId can be the primary method.
Since credit cards can have chargebacks for a long period of time and Bitcoin cannot represent negative balances, this is a pretty difficult service to provide
Thanks Alex! Would you be willing to pay a monthly fee for a service like this? Assuming you found the UI good enough, and we could show you high reliability in existing apps?
I see it as competition to PayPal, I like PayPal vs a credit card b/c of convenience and privacy
The tricky part here is that Coinbase is taking their 1% fee on the buyback (Maybe they should give a special rate here) - but they also recently introduced an interesting feature that allows merchants to pass on PayPal merchant charge savings on to the consumer.
This is early adopter territory, using Bitcoin for this isn't a clear win yet, but Coinbase is doing some smart things to bring mainstream appeal
