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Ok. Let me explain to you how Bitcoin works. Satoshi created the software and nodes maintain it. Anyone can maintain a node and enforce the rules of the network

Ok. Let me explain to you how Bitcoin works. Satoshi created the software and nodes maintain it. Anyone can maintain a node and enforce the rules of the network. A ledger lives on the network says who has what. To interact with the ledger on an easy non-technical way, you can: 1. Use a centralized exchange (coinbase) 2. Use a self-custody cold-storage wallet (ledger) 3. Use a self-custody hot wallet (muun) 4. Use a custodial wallet For #2, and #3. You have your own private keys. The developer of the wallet can’t do anything to your money. Even if they shut off the servers(#2 doesn’t have servers), the ledger on the network still says you have x amounts of Bitcoins. You can access the ledger and interact with the network in another way. Literally can’t be evil!

300bps 5y ago
Respectfully, you need to do more research on this. Look up how ETC (Ethereum Classic) came into being. Look up a 51% attack. Look up forks from BTC to BCH and then BSV. Look up Craig Wright and his claims to be Satoshi Nakamoto. Again, respectfully, your many comments here make you appear to be someone that just learned about cryptocurrency in the last six months and you have only the simplest of surface understandings of it. You’re INcorrecting several people that have been at the forefront of cryptocurrency for over a decade.
- jonathan-adly 5y ago
  From my perspective, it sounds like you are the one who have no clue what you are talking about. Eth classic is exactly why there is Bitcoin and everything else. Forks are exactly why Bitcoin will always protects it’s userbase from big miner money. Craig white claims is exactly why no one person can control the network. You haven’t been at the forefront of anything my man. Bitcoin has returned 1000% and you are sitting here fighting over the internet.
  - 300bps 5y ago
    Respectfully, you have a new account on HN and if it lasts another month before dang shadowbans you I’ll be shocked. You’ll know it happens when people just stop responding to you. I have showdead turned on and I shake my head as people post comments for years never knowing that 99.99% of people don’t see their posts and comments. As for my cryptocurrency background I mined BTC with a GPU when it was very profitable. My ETH mining rigs are doing their job while I’m posting on the Internet as you say. I have no problem profiting from it while recognizing it’s a total and complete scam.
    - jonathan-adly 5y ago
      I love how you respond with factual statements with "your account is new and dang will ban you". That's not how it works, but go on.
dmitriid 5y ago
Reading Muun's post on "security": their wallet holds one key on your device and the other key on their servers. So at all times they have access to both of your keys that are used to sign transactions: https://blog.muun.com/muuns-multisig-model/ https://blog.muun.com/muuns-multisig-model/ --- start quote --- Muun ensures your decrypted private keys are never stored in the same place: - Your phone stores only the first key - Muun's servers store only the second key --- end quote --- Oh, there's also the Emergency Kit that--I pinky swear--is encrypted in a way that Muun knows nothing about both keys in it. Moreover, if you go ahead and install Muun, there's literally nothing about secret keys in the app: you can immediately send and receive bitcoin. Which really tells you all you need to know about its security.
- jonathan-adly 5y ago
  If the key is on my device, they don’t have access to it. Seriously, this post screams Dunning-Kruger.

300bps 5y ago

Respectfully, you need to do more research on this. Look up how ETC (Ethereum Classic) came into being. Look up a 51% attack. Look up forks from BTC to BCH and then BSV. Look up Craig Wright and his claims to be Satoshi Nakamoto. Again, respectfully, your many comments here make you appear to be someone that just learned about cryptocurrency in the last six months and you have only the simplest of surface understandings of it. You’re INcorrecting several people that have been at the forefront of cryptocurrency for over a decade.

jonathan-adly 5y ago
From my perspective, it sounds like you are the one who have no clue what you are talking about. Eth classic is exactly why there is Bitcoin and everything else. Forks are exactly why Bitcoin will always protects it’s userbase from big miner money. Craig white claims is exactly why no one person can control the network. You haven’t been at the forefront of anything my man. Bitcoin has returned 1000% and you are sitting here fighting over the internet.
- 300bps 5y ago
  Respectfully, you have a new account on HN and if it lasts another month before dang shadowbans you I’ll be shocked. You’ll know it happens when people just stop responding to you. I have showdead turned on and I shake my head as people post comments for years never knowing that 99.99% of people don’t see their posts and comments. As for my cryptocurrency background I mined BTC with a GPU when it was very profitable. My ETH mining rigs are doing their job while I’m posting on the Internet as you say. I have no problem profiting from it while recognizing it’s a total and complete scam.
  - jonathan-adly 5y ago
    I love how you respond with factual statements with "your account is new and dang will ban you". That's not how it works, but go on.

dmitriid 5y ago

Reading Muun's post on "security": their wallet holds one key on your device and the other key on their servers. So at all times they have access to both of your keys that are used to sign transactions: https://blog.muun.com/muuns-multisig-model/ https://blog.muun.com/muuns-multisig-model/ --- start quote --- Muun ensures your decrypted private keys are never stored in the same place: - Your phone stores only the first key - Muun's servers store only the second key --- end quote --- Oh, there's also the Emergency Kit that--I pinky swear--is encrypted in a way that Muun knows nothing about both keys in it. Moreover, if you go ahead and install Muun, there's literally nothing about secret keys in the app: you can immediately send and receive bitcoin. Which really tells you all you need to know about its security.

jonathan-adly 5y ago
If the key is on my device, they don’t have access to it. Seriously, this post screams Dunning-Kruger.