Post
Topic
Board Project Development
Re: [ANNOUNCE] FrozenBit- Changing the Landscape Of Bitcoin Payments and Security
by
BitEscrow
on 23/03/2014, 06:42:04 UTC
 Facebook was stupid until people used it. We can stop this right here.
Don't compare your company to facebook, that is like if I said I was the Lebron James of this forum. That would make no sense basketball has nothing to do with the programming. And facebook has no monetary risk.
  Misinformation, I have no idea where you pulled this from. So we can stop this right here.

Basically you are saying use us to keep your coins safer. What about paper wallets? What about not giving you full control of my coins? What about multi-sig addresses? What about local clients?

   Greater control yes, this is a security related project, and as seeing as you claim hedge funds used you what would stop me from going to the same hedge funds a pitching this to them? Nothing. It would be just as easy to set this up, as it would be to hire someone such as yourself. People use blockchain and have full control, people have cold storages and have no issues. We've made the hybrid.

Go to them please they will laugh you out of the building. The first question they asked is what if they lose the bitcoins or they become unrecover, I said nothing. What if your company loses the private key or has a hard drive failure or someone steals your coins? The companies have no course of action.

   You've worked at hedge funds, you don't give your money to some random guy claiming he can do "magic". You find the medium and observe risk.

I consulted at hedge funds. But if I can use an option that is 100% risk free which is what paper wallets and local clients are, then why choose a highly risk option?

The Mark Cuban of this Forum - That was a hypocritical statement on your part. You've also used circular logic.

 Everything you mentioned can have a downside and a rebuttal. Multisig, you can lose one or more of the keys, paper is losable, local clients are malware prone, and we don't have full control we don't have any tools to decrypt your key until you submit a withdrawal request.  Considering my experience at hedge funds, I could probably get them to laugh at you.

 And to contest your conflicting statement on losing data. All wallet and key lists are backed onto multible USB devices, harddrives and encrypted My passports (19 in total) which are clearly marked and located at all times. We use Mongo DB and Heroku for hosting, with multiple backups. You're a programmer you know the power of the cloud.

 For giggles why should I trust my database with their site? That question is circular and has no answer, your mind is already set on an answer.