Post
Topic
Board Announcements (Altcoins)
Re: [ANN][VTR] vTorrent - Share with freedom | 2FA | HD | @Bittrex
by
leigh2k14
on 17/01/2017, 16:36:12 UTC
....2FA...it will be....open-sourced.

Here is my personal view.

Don't open source the 2FA feature, just yet. It is too valuable for all the hard work that went into it and it has commercial use cases.

What I would do is create a vTorrent wallet with the 2FA included and one without. This will add complexity, but it will deal with the fud about it being closed source.

Exchanges can 100% benefit from your 2FA implementation. So can vTorrent.

You should create a generic Bitcoin wallet with the 2FA built in and label it as a vTorrent innovation to help exchanges with fraud. You should then sell that wallet to exchanges and others interested in security. The sale process is to create a licence agreement with them.

You could also sell them the option to create other coin wallets with 2FA added.

The licence means that they will pay you to see the source code so they can get it inspected for viruses. It also means you can charge them to put the source code into escrow should they need to access it in emergency (you disappear).

You can then choose to accept payment in BTC or VTR.

Once you have earned, say, 1,000 BTC or vTorrent has reached $30m market cap, you can then choose to open source, or not.

The headlines on Coindesk:

"Exchanges Secure Bitcoin Cold Wallets with vTorrent's 2FA Technology"

Only after you posting about using 2FA on exchanges do I see the value of it, look at all the hacks that have happened over the last few years, hundreds of thousands of BTC stolen, wow this really does have a high value.

The kicker is if the devs didn't release this instead of torrent back in August, and just released it as a separate release the marketcap would of shot right up.

Just imagine if they communicated more, we'd have a much much higher marketcap.

The marketcap is usually a good measurement for how well a project is doing.