Quote from: Bitshill on February 25, 2015, 09:50:45 PM

Quote from: BitSwift on February 25, 2015, 09:45:50 PM

Serious question as I am trying to make sense of all this.

Who controls the private keys to the users addresses which exist within the bitstake platform? Where are the private keys stored?

Please shoot me a pm so we can learn more about your platform.

Thank You,

-bitswift

I have same question too about https://webwallet.bitswift.io

Can i stake online like bitstake wallet ?

Who controls the private keys to the users addresses which exist within the bitswift webwallet ?

Where are the private keys stored?

X-swiftness bag holder

Sure I can answer all these questions, glad you asked.

No you can not stake your coins in the bitswift web wallet. The web wallet is to be used for convenience similar to how your real world wallet holds a few dollars to get you through the day. We absolutely advise that you do NOT use it as a bank account or a "primary wallet". It is public after all and as such more opt to be a target for hackers.

The private keys are only in control of the user who has created the account. The users password encrypts the priv keys which is why we recommend using a strong password. The salt is on the server, the password is needed to use the salt because it hashes the password and then combines that to the salt.

If someone were to hack the web wallet they would get a bunch of encrypted private keys - without your password they would not be able to decrypt it.

No need to start name calling, why not just ask nicely how things work like I did?

-bitswift