Post
Topic
Board Bitcoin Discussion
Re: Wallet is the weakest link?
by
Pursuer
on 19/10/2017, 08:27:47 UTC
For non-technical holders of BTC (i.e. the mass of the BTC population), the risk of inanonymity and centralisation still there: as they have to entirely rely on their wallet providers? If such wallet providers are hacked or meddled with their users, the users won't have anyway to protect themselves or anyone to make a claim on? Their fund in BTC is entire at the mercy of the wallets?

How you think BTC would work for the ordinary people in the future to replace their current existing financial assets and management with fiat currencies?

there is no such thing called "wallet providers" in bitcoin. don't confuse the centralized cervices such as coinbase and xapo with a bitcoin wallet, they are not at all a wallet.

and about the rest of the wallet, what you may call "wallet provider" is a completely open source and peer reviewed and tested code which handles the wallet security. there can not be any issues in the old wallets that have been around for a while. also "hack" is meaningless for such projects that are open source. you download the source and you protect yourself from then on.