Title: Flexcoin offering user defined cold storage! Post by: the founder on August 19, 2011, 05:50:34 PM Flexcoin the bitcoin bank will be launching over the weekend the first user defined cold storage facility for the bitcoin online currency.
The users will be able to define what they want sent to cold storage. Meaning if a client has 10 bitcoins with flexcoin, he can specify that he wants 4 of them sent to cold storage. This effectively puts them off line and inaccessible. Cold Storage is roughly akin to sending your bitcoins to a computer that isn’t online, hence the threat of any online hacking is effectively nill as it’s very difficult to hack a computer that is unplugged. What makes cold storage with flexcoin so alluring is that all bitcoins in cold storage receive discount payments the same way they are with the normal flexcoin service. Flexcoin has built a secure way to bring them out of cold storage, as they are processed the next business day subjecting them to human review before being released. This allows individuals to safely store their bitcoins, and earn payments when they are being stored. This is a first for the bitcoin community. All the details will be released on flexcoin over the weekend! http://www.tribbleagency.com/?p=8178 Title: Re: Flexcoin offering user defined cold storage! Post by: Mousepotato on August 19, 2011, 05:59:11 PM Do you offer any kind of insurance for cold storage BTC? Like what if there were a fire/flood/earthquake and the storage machine was destroyed?
Title: Re: Flexcoin offering user defined cold storage! Post by: the founder on August 19, 2011, 07:33:29 PM That "flood" would have to destroy a physical bank vault.. As well a other backup locations offline
Title: Re: Flexcoin offering user defined cold storage! Post by: FreeMoney on August 19, 2011, 07:41:56 PM That "flood" would have to destroy a physical bank vault.. As well a other backup locations offline So the insurance will be really cheap? Title: Re: Flexcoin offering user defined cold storage! Post by: the founder on August 19, 2011, 08:57:36 PM Maybe free... Included in tx fee.. Researching
Title: Re: Flexcoin offering user defined cold storage! Post by: willphase on August 19, 2011, 09:34:03 PM are you using nlocktime to 'time lock' the bitcoins?
Will Title: Re: Flexcoin offering user defined cold storage! Post by: shotgun on August 20, 2011, 12:12:06 AM Care to go into fine grained detail about EXACTLY how the cold storage works and is architected/engineered? I don't see much useful content on the site regarding the feature, so, being a system architect myself, I would not trust this unless I knew what level of redundancy of service you are using. The following would be good to ensure:
Title: Re: Flexcoin offering user defined cold storage! Post by: ctoon6 on August 20, 2011, 01:51:37 AM if you are referring to a safe deposit box, i would not trust this...
Title: Re: Flexcoin offering user defined cold storage! Post by: shotgun on August 20, 2011, 01:57:52 AM http://www.tribbleagency.com/?p=8178 So you also run an ad agency huh? Interesting... |