Bitcoin Forum

MyWl.lt (http://MyWl.lt) is an online crypto currency wallet service operating since October 2013. The site looks to reverse the trend of poorly built insecure online wallets that have soured most of the community on the thought of hosting some of their coins with a third party. Built using a proprietary code framework designed over a decade of professional web development, MyWl.lt uses industry standard security measures and best practices to keep your coins safe.

After six months of operation with no outages, security breaches, or customer complaints, MyWl.lt is prepared to open its doors to the crypto currency community at large by adding one new coin every two weeks. New coins will be chosen by popular vote, with voting located at https://mywl.lt/voting/ (https://mywl.lt/voting/).  Votes are awarded as such:

   •   Unregistered users may vote 1 time every 12 hours
   •   Registered users may vote 5 times every 12 hours. Registration is free.
   •   Each 0.0002 BTC deposited into the associated address will count for 1 vote.
   •   The top coin will be added at the end of the voting period, and all other votes will carry over for the next round.

Q. Why should I use an online wallet versus keeping my coins in a paper wallet, QT client, online exchange, or pool wallet?

A. Nobody should keep all of their coins in one place. You probably don’t keep all of your income in one place, right? Every day, most people carry a small amount of money on our person, and keep various amounts in other locations (banks, safe deposit boxes, buried in the backyard). Crypto currencies should be no different. Keep your savings offline in a paper wallet, or in an encrypted wallet on a PC you trust. Back those keys up to Dropbox, USB stick, whatever you are comfortable with. But what happens when you want to spend some of those coins and you’re not at home? Or you just don’t want to load up a paper wallet to send a few bucks to a friend?  You reach in your wallet (MyWl.lt) and send a few coins quickly and securely. And, if the recipient is also on MyWl.lt, you only need their username, email, or trade key. Paypal made people trust in sending money online by making it easy and secure. For cryptos to become widespread, services like MyWl.lt are absolutely necessary.

Q. What makes MyWl.lt secure compared to other services?

A. To answer this, let’s examine what common issues have plagued other wallets and exchanges:

Inside jobs (e.g. Gox, Inputs.io) - Often, these are simply young inexperienced people who got in over their head, couldn’t resist the temptation, or who wanted to steal the coins all along.  MyWl.lt is owned by a highly trusted member of the crypto community with a history of philanthropism. In addition, any new hires would be fully vetted, likely someone already known and trusted for a long time, and would only be given security access to the parts of the system they need.

Poorly written code (e.g. CryptoRush, OpenEx) - MyWl.lt is written on a secure proprietary codebase where the web servers have no access to the wallets. The internal audit system makes it impossible for an account to ever have a negative balance.  Also, a "watchdog" process runs every minute looking out for suspicious activity both on the website and the wallets. If anything happens, the affected services are locked down automatically until they can be audited.

Q. Who runs MyWl.lt?

A. MyWl.lt is owned and operated by one person - clapyohands. Here is a little bit about my background:

I have been developing websites since 1995, and doing it full time since 2001. I started out as a junior developer in a small firm and quickly became lead developer, with an internal team of five people and another five offshore. At that firm I developed sites ranging from basic brochure (sales) sites to a complicated production management system running a large scale masonry business (employee scheduling, project management, inventory control, etc). While there, I also worked with fortune 500 companies like BASF and FujiFilm. From 2006 to 2013, I was the sole developer and CTO for a fantasy football advice company, which grew into a network of sites that is still operating and serving tens of millions of page views per month.

In 2013, I left that position to work full time in crypto currencies. For the last 12 months, I have been dedicating my time to the Digitalcoin community: acting as Digitalcoin Community Administrator; serving as a Digitalcoin Foundation board member; and developer of the first IRC wallet bot (DGCBot) and an open source faucet built on NodeJS (cryptofaucet-node (https://github.com/clapyohands/cryptofaucet-node)). I’ve assisted other services such as CryptoALTeX in securing their systems before launch, and I am currently redesigning the DGC Poker site, DGCPoker.net.

I’ll admit that I don’t spend much time on the forums, so you may not recognize my name, but I’m always around on IRC (#digitalcoin) and happy to answer any questions or concerns you have. I tend to avoid forums mostly because my original goal when leaving my first development position was to build "the next generation of forum" for the web. While I didn’t get to take on that project, it seems that nobody else has bothered to make forums easier to use in the last 15 years either.

Note: Digitalcoin Foundation Chairman Rawdawg- will be helping promote MyWl.lt and can speak on my behalf, but has no access, and no ownership in the company. MyWl.lt is the official online wallet of Digitalcoin.

I'm afraid by only hosting the top coin every round Mywl.lt will be stuck with scam pump-n-dump coins.. they seem to have a life cycle of three months before a new one (usually premined or crazy instamined) gets made to be beaten to death. It'd be great if you went by your own discretion for a few. DGC is a reputable coin, I also like Myriad for its innovative mining scheme.

In the end though I guess it is basic commerce, there is no major negatives to hosting any particular coin. And more activity means more revenue for you :)

I put my votes in for MYR, thanks for the great wallet. Been using it since you started and have had no issues. An android app would be killer too.

Great site! If you need help with security auditing please don't hesitate to contact us:

https://twitter.com/RaxeSoftware
contact@raxe.io
Skype: raxe.io (Raxe.io Support)

Raxe.

I obviously put my faith in this online service. It goes without saying (and the Owner even says not to do this) but you shouldn't keep all of your coins in one place, but this service is awesome for sending coins to other users and also having access to your coins when you aren't near your computer.

I can't wait to see more coins added to Mywl.lt so we can all use it as the main service for transferring and holding coins that we want to have access to from anywhere.

Rawdawg

This is the one online service I haven't ever had a problem with.  :)
Thanks!  I voted Mint but would love to see any of those coins up there.

Will be nice to see Coin2 added - https://bitcointalk.org/index.php?topic=483847.0

We reserve the right to add more at any time if there is enough community support.


Coin2 added to the voting

Adding the ability to import private keys would be awesome.  Every coin wants an Electrum-style wallet that can import private keys but for some reason all of the web wallets only generate new addresses.  It would make your service more valuable over the others.

This is a feature I'm working on as part of a larger "pro" version for advanced users. However, importing your private key into a shared (web) wallet means you can never use it again and the address balance will stop matching your actual balance as coins are moved around the shared wallet.

free bump ;)

i think blackcoin would be a good choice

Round 2 of voting is underway and there are 7 days left to get your favorite coin to the top!

https://mywl.lt/voting

This is a great service. Efficient, user friendly and most importantly safe. Nice job Clapy!

Get those votes in!

good luck with the site. I tried to log in and it sait my acccount is disabled.

Please submit a support request @ https://mywl.lt/contact-us/

This is an amazing service! Thanks for creating it!

TT

What is the problem with mywl.lt ?!

The problem is that you trusted your coins to some other person's wallet.

Very constructive, helpful response - thank you...

So after all the fine words - just another scammer?

What a shame... Yet another shining example of crypto integrity and trust.

I lost some coins here too :(

Can't believe not more posts on this - in view of dev's DGC connection and Richard Branson being one of many high profile twitter followers...

Incedently - cannot find their twitter feed now!

 :(

Well, according to the #digitalcoin IRC channel: "he is lost and no one knows where he is and no one can reach him".

That's what I've heard. The guy disappeared. Pretty sure it's not malicious or any sort of scam. He was a pretty upstanding guy. Maybe illness or worse. This was a really nice online wallet and I'll miss it. Problem with some of these things is that they're done well and function well, but they live and die with one person.

TT

Yes - I agree with that - but why did the site disappear then the DNS dropped? Seems strange unless renewal was missed?

This is one of the fundamental issues in cryptocurrency - there can be a fantastic service that gains popularity and trust because it has value BUT if it is essentially one man band with no backup it can just disappear without trace or explanation - users' first cry will be 'scam' even if there is a perfectly reasonable explanation and, of course, there is no path for recourse.

You're right that people have no recourse, and that's what "unregulated" means.  Hopefully people took the advice on the site and didn't have too much there.

TT