alexbosworth
Joined 18 years ago
Joined 18 years ago
Basically my preference for bitcoin software is like this:
1. If there is a bad update to the software, I feel safe that it doesn't matter too much because there is a secondary signature needed to approve a transfer
2. If the software is discontinued or I want to stop using it, I feel safe it doesn't matter because I can restore from a seed elsewhere
I appreciate safeguards to the device like the touchId etc, however there's a tricky balance there of security vs usability. I think using the touch movement pattern is a great idea for a backup method and touchId can be the primary method.
- I'd incorporate touchID, I've used it in iOS and it's easy to add.
- One feature I'm thinking about for my iOS apps is using the Apple Watch as a 2nd factor auth mechanism. I haven't looked into the feasibility of it yet though and probably not many people have smartwatches
- After the user writes down the seed when setting up the wallet, challenge them to verify their written seed. I think this is how Electrum works, try that out
- BIP standard is a good idea for the seed, but try and mention other wallets that the seed can be used in, for reference purposes
- Multisig is definitely the winner here, but I'd go farther, really look into trustedcoin API
My feedback is
- Hard to trust any app for btc that isn't open source
- Requiring a photo is pretty severe, scale factor is wrong mode in the uiimageview
- The security is pretty crazy, unlock pattern + password - make it easy to get started
- Seed value should require repeating back to the app
- Multisig looks complicated, I'd like it to work with Electrum
- Seed should give me some idea of its standard, can I restore it with another app
- It's missing press states on a lot of stuff
- Would be cool to integrate with trustedcoin api
The gold standard is breadwallet, have to beat that. I like the multisig angle, but it has to be done correctly
The tricky part here is that Coinbase is taking their 1% fee on the buyback (Maybe they should give a special rate here) - but they also recently introduced an interesting feature that allows merchants to pass on PayPal merchant charge savings on to the consumer.
This is early adopter territory, using Bitcoin for this isn't a clear win yet, but Coinbase is doing some smart things to bring mainstream appeal
https://en.bitcoin.it/wiki/Blocks
There is roughly 1 block every 10 minutes and it can only include 1 megabyte of transactions (transactions are around 500 bytes)
I don't think this limit has ever been hit but it doesn't allow for a ton of transactions per hour
keybase makes me put this here but this isn't my real key:
[ my public key: https://keybase.io/alexbosworth; my proof: https://keybase.io/alexbosworth/sigs/pEi2LozcmZyDEvwikAuM0XBSc6SqXTep8trBqoR9vbs ]