Post
Topic
Board Bitcoin Discussion
Re: Bitcoin Security Standards Audit [BSSA]
by
securityguy
on 05/03/2014, 09:06:55 UTC
No, no, and please no. This is not what bitcoin needs. We need trustless exchanges which don't have to be audited because there is no capability to lose client funds.

I laughed and then made a depressing sigh when I heard about Andreas Antonopoulos' "audit" of CoinBase. He basically said "I approve of stucking your money with these folks" -- but you shouldn't have to trust *anybody* with your money. That's the whole point of bitcoin! We have the technology to build trustless exchanges, we just need to focus the resources to do it:

http://www.reddit.com/r/Bitcoin/comments/1zgbza/i_am_building_a_free_and_fair_trustless_exchange/

From your reddit posting;

Users deposit bitcoins and other crypto assets by means of an audited gateway or pegging mechanism.

It seems your plan requires auditing too.