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The mainstream public doesn't want their identity attached to a private key that they can lose. And if you're letting someone else store the key, then it's jus

by pavlov 5y ago

The mainstream public doesn't want their identity attached to a private key that they can lose. And if you're letting someone else store the key, then it's just another form of "Login with X".

delaaxe 5y ago
Unless the 'someone else' is a multisig consisting of a mixture of friends & relatives, instutitions and hardware devices.
- uh_uh 5y ago
  And this is something that could power reversible transactions as well which I think is a current, but solvable problem of all crypto platforms. What you are proposing is actually a lot better than the tech we have now. If I ever lose my Google login and their customer service does not want to deal with me then honestly, I'm not sure what I'd do. I'd rather trust my friends and family to help me out than FAANG.
- pavlov 5y ago
  An exciting new set of attack vectors and failure points foisted on people who mostly can’t understand what a safe URL looks like. When my partner clicks on a phishing link, not only are they exposing themselves but potentially also my identity in this multisig world.
- _jal 5y ago
  And those institutions where everyone knows you go to register and hardware devices everyone trusts don't exist, so you're back to > doesn't seem to solve meaningful, mainstream problems yet
- arcticbull 5y ago
  That's honestly the worst solution I could think of, and not one I would ever want to rely on. Not for me, not for my family, certainly not for my parents.
Uehreka 5y ago
Well if you think this is bad, wait until you hear about MFA ;-) On the real, I think there are people who will want to try this if it’s made easy enough. Some people could try getting a name and keeping a wallet through a 3rd party, in which case they’re no better or worse off than they are now. But at any moment, if they feel the need, they could transfer that username to a cold wallet if they want to take control of their security. Or transfer it back to the third party if they later decide that’s too much work. The cool thing about this is that it’s another option out there and it offers flexibility. For the record, again, I’m not one of those people calling this a revolution or “the biggest thing since the invention of the web”. I just think this one idea is kind of neat.
- arcticbull 5y ago
  MFA only works because someone can re-set it for you. That's the point. "Not your keys, not your life" is simply the worst of all worlds.
diveanon 5y ago
Yeah much better to have it attached to phone number that can be sim swapped, biometric data that can be easily stolen, centralized user accounts, and my favorite national identity that you have no control over at all.
Acrobatic_Road 5y ago
>And if you're letting someone else store the key, then it's just another form of "Login with X". Luckily there's a way to have other people store your key without the key ever technically existing outside your own computer - https://app.tor.us/ https://app.tor.us/, and using common web services (like email) to retrieve everything you need to construct the key in your browser whenever you need it. You can even use this to send money to a public key before its corresponding private key has ever been constructed by anyone! Meaning you can send money to someone who lacks a wallet by email, or by telegram, or by discord, or by reddit, or by anything, and they retrieve the money without anyone else ever seeing their keys or having to manage their keys themselves. How it works: https://tech.tor.us/ https://tech.tor.us/ Disclaimer: NOT associated with torus, just think its cool.

by pavlov 5y ago

The mainstream public doesn't want their identity attached to a private key that they can lose. And if you're letting someone else store the key, then it's just another form of "Login with X".

delaaxe 5y ago

Unless the 'someone else' is a multisig consisting of a mixture of friends & relatives, instutitions and hardware devices.

uh_uh 5y ago
And this is something that could power reversible transactions as well which I think is a current, but solvable problem of all crypto platforms. What you are proposing is actually a lot better than the tech we have now. If I ever lose my Google login and their customer service does not want to deal with me then honestly, I'm not sure what I'd do. I'd rather trust my friends and family to help me out than FAANG.
pavlov 5y ago
An exciting new set of attack vectors and failure points foisted on people who mostly can’t understand what a safe URL looks like. When my partner clicks on a phishing link, not only are they exposing themselves but potentially also my identity in this multisig world.
_jal 5y ago
And those institutions where everyone knows you go to register and hardware devices everyone trusts don't exist, so you're back to > doesn't seem to solve meaningful, mainstream problems yet
arcticbull 5y ago
That's honestly the worst solution I could think of, and not one I would ever want to rely on. Not for me, not for my family, certainly not for my parents.

Uehreka 5y ago

Well if you think this is bad, wait until you hear about MFA ;-) On the real, I think there are people who will want to try this if it’s made easy enough. Some people could try getting a name and keeping a wallet through a 3rd party, in which case they’re no better or worse off than they are now. But at any moment, if they feel the need, they could transfer that username to a cold wallet if they want to take control of their security. Or transfer it back to the third party if they later decide that’s too much work. The cool thing about this is that it’s another option out there and it offers flexibility. For the record, again, I’m not one of those people calling this a revolution or “the biggest thing since the invention of the web”. I just think this one idea is kind of neat.

arcticbull 5y ago
MFA only works because someone can re-set it for you. That's the point. "Not your keys, not your life" is simply the worst of all worlds.

diveanon 5y ago

Yeah much better to have it attached to phone number that can be sim swapped, biometric data that can be easily stolen, centralized user accounts, and my favorite national identity that you have no control over at all.

Acrobatic_Road 5y ago

>And if you're letting someone else store the key, then it's just another form of "Login with X". Luckily there's a way to have other people store your key without the key ever technically existing outside your own computer - https://app.tor.us/ https://app.tor.us/, and using common web services (like email) to retrieve everything you need to construct the key in your browser whenever you need it. You can even use this to send money to a public key before its corresponding private key has ever been constructed by anyone! Meaning you can send money to someone who lacks a wallet by email, or by telegram, or by discord, or by reddit, or by anything, and they retrieve the money without anyone else ever seeing their keys or having to manage their keys themselves. How it works: https://tech.tor.us/ https://tech.tor.us/ Disclaimer: NOT associated with torus, just think its cool.