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I respect all these views, really. But now I have a big question, if your users love your product and they keep investing, but there are many people out there
by zhoutong 15y ago
I respect all these views, really.
But now I have a big question, if your users love your product and they keep investing, but there are many people out there who may never have tried to understand how the product works are yelling at you to stop, what will you do?
I have to admit that many Bitcoin investors are not rational at all, and they don't know what they are doing. But there are also a lot of Bitcoin miners who want to short sell to protect their investment along with some speculators who want to long positions with margin. The market is already here.
I have never claimed that I'm not responsible for the security measures, I just said that many people were over-sentitive in these matters. Bitcoinica is probably the first Bitcoin-related website that doesn't have Bitcoin wallet. And vast majority (I'd say nearly all) of security incidents happen with stolen or lost Bitcoin wallets. I know my bottom-line clearly - I know I may be good at writing secure apps, but not good at keeping a wallet secure.
I don't know what's your attitude towards Mt. Gox or TradeHill. I may have over-used these two examples but in fact, the system works the same way. It's just that I have only 3 years of experience of Ruby development and have done this project more quickly than others.
I'll be working with TradeHill together to expand the service further, because TradeHill requested so. And many users want to see Bitcoinica continue.
Bitcoinca was launched a bit more than 2 days ago. I know how high the stake is, but I'm not going to close it. Our finances are running very smoothly and trading volume is higher and higher.
I will consider hiring a security expert after a month or so. Currently there are two adults working with me in terms of financial systems (they are professional forex brokers). I think everything has just started.
- deleted 15y ago[deleted]
- rprasad 15y agoStandards are much higher when money is involved, especially when the sole purpose of the product/app is to manage money. You don't get to put off adding security; for a financial application like yours, security needs to be a foundational element from the beginning. You can't just add it on later.