Quote from: bitprotection on June 17, 2011, 04:16:10 PM

Hello all I hadn't had a chance to get on the forum because been busy working on the service as with all the things going on out there the time is now ...

...we are in the process of doing this and the response has been pretty good with over 300+ sign ups so far.

We plan on offering 2 ways to do this but our biggest benefit is we provide 100 percent coverage of your bitcoin wallet regardless of what happens to it.

(theft of coins out of the wallet,erasing/HD crashes,lost wallets to name a few)

The 2 ways are:

1.) to upload a copy of your wallet and we can provide a encrypted back it up and still provide coverage against it. Keep in mind this is a copy of it so still you keep the original wallet. In other words, this isn't a pull down , put back service.

2.) If you choose to not upload it we can still provide protected coverage. More details to come regarding this.

Feel free to check out my sig. and put your e-mail in for more information.

Just wanted to get into this forum and introduce myself!

Welcome. It sounds like there is a demand for a service like this. When you say you provide 100 percent coverage of your bitcoin wallet, regardless of what happens to it, what are you guaranteeing? Are you refunding the contents of customers wallets in case they get compromised? I don't see how you can do this if the customer keeps a copy. If the customer uploads a copy that you encrypt, and they keep an unencrypted copy on their home computer, it will still be vulnerable to loss or theft.

Also, how can you prove the the coins were not just spent by the customer? The only way to really guarantee that nobody will spend the coins except an authorized user is to keep a single copy of the wallet in a highly secure place, with strong encryption.