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The app looks beautiful but I think the biggest thing your landing page fails to do is convince me why I need this AND Coinbase or why this is better than Coinb

by goeric 12y ago

The app looks beautiful but I think the biggest thing your landing page fails to do is convince me why I need this AND Coinbase or why this is better than Coinbase.

justizin 12y ago
well, coinbase and other exchanges have been known to stall your transfers due to issues with cold storage or, really, who knows what. hive is an alternative to running something like bitcoin-qt, which uses a lot of bandwidth and compute to keep up with the bitcoin network. hive is lighter weight, uses a different protocol which i don't entirely understand but seems well trusted and efficient. i use it and bitcoin-qt and distribute some of my BTC among the two.
mmgutz 12y ago
Call me paranoid but having your wallet on someone else's cloud (Coinbase) is an opportunity waiting to be exploited. All it takes is some network admin or developer to transfer all of the clouds bitcoins to a personal wallet and nobody, especially you, can do anything about it.
- SeoxyS 12y ago
  A cloud wallet in and of itself is not a bad idea; it just needs to be secured appropriately. Multi-sig support is probably key here. You could have the best of both convenience and security with a 2-of-3 setup, where you keep one key in cold storage, one in a native app on your devices, and one with the cloud provider.
  - jafaku 12y ago
    The problem with that is that the app on your device is usually developed by the same entity, meaning they could take your key and steal your coins. What we need is to decouple the online service from the app on your device. Maybe someone could develop a secure app with a nice API or protocol that users can securely connect to 3rd party services without fearing that the key in their device could be stolen.
    - SeoxyS 12y ago
      Yes, that's a fair point. I agree with you. PS: Ugh, not sure what I said that was so controversial. Always annoying to get downvoted for no reason. Oh HN.
      - jafaku 12y ago
        Nothing, we are all being downvoted. I guess it's the usual Bitcoin haters.
Geee 12y ago
Coinbase is against the core idea of Bitcoin: there's no need for banks or middlemen.

by goeric 12y ago

The app looks beautiful but I think the biggest thing your landing page fails to do is convince me why I need this AND Coinbase or why this is better than Coinbase.

justizin 12y ago

well, coinbase and other exchanges have been known to stall your transfers due to issues with cold storage or, really, who knows what. hive is an alternative to running something like bitcoin-qt, which uses a lot of bandwidth and compute to keep up with the bitcoin network. hive is lighter weight, uses a different protocol which i don't entirely understand but seems well trusted and efficient. i use it and bitcoin-qt and distribute some of my BTC among the two.

mmgutz 12y ago

Call me paranoid but having your wallet on someone else's cloud (Coinbase) is an opportunity waiting to be exploited. All it takes is some network admin or developer to transfer all of the clouds bitcoins to a personal wallet and nobody, especially you, can do anything about it.

SeoxyS 12y ago
A cloud wallet in and of itself is not a bad idea; it just needs to be secured appropriately. Multi-sig support is probably key here. You could have the best of both convenience and security with a 2-of-3 setup, where you keep one key in cold storage, one in a native app on your devices, and one with the cloud provider.
- jafaku 12y ago
  The problem with that is that the app on your device is usually developed by the same entity, meaning they could take your key and steal your coins. What we need is to decouple the online service from the app on your device. Maybe someone could develop a secure app with a nice API or protocol that users can securely connect to 3rd party services without fearing that the key in their device could be stolen.
  - SeoxyS 12y ago
    Yes, that's a fair point. I agree with you. PS: Ugh, not sure what I said that was so controversial. Always annoying to get downvoted for no reason. Oh HN.
    - jafaku 12y ago
      Nothing, we are all being downvoted. I guess it's the usual Bitcoin haters.

Geee 12y ago

Coinbase is against the core idea of Bitcoin: there's no need for banks or middlemen.