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Title: Interesting presentation on how Bitalo created a real no-trust Bitcoin service Post by: Bitalo_Martin on May 02, 2014, 12:40:43 AM Recently presented at Bitcoinference in Amsterdam by Martin Albert from Bitalo.
Basically a genius concept where it is impossible to steal or lose Bitcoins, even when the website goes offline, admins are malicious and/or your computer is fully compromised. https://www.youtube.com/watch?v=0TU9zvJYC8c Title: Re: Interesting presentation on how Bitalo created a real no-trust Bitcoin service Post by: kjj on May 02, 2014, 06:01:52 AM Well, with an unbiased review like that, it must be worth watching.
Title: Re: Interesting presentation on how Bitalo created a real no-trust Bitcoin service Post by: monsterbitty on May 02, 2014, 06:08:42 AM Interesting video. Worth Watching.
Title: Re: Interesting presentation on how Bitalo created a real no-trust Bitcoin service Post by: r34tr783tr78 on May 05, 2014, 09:59:24 AM You should post a summary or a link to some details. 37m video?
Title: Re: Interesting presentation on how Bitalo created a real no-trust Bitcoin service Post by: Bitalo_Martin on May 05, 2014, 12:57:26 PM the main part is shorter, it is just with a Q&A session that makes it so long.
The summary is: It is possible to create no-trust Bitcoin services where it is practically impossible to lose Bitcoins, even under very extreme conditions like: -The website goes completely offline -The server is hacked -Your computer is fully compromised -The site administrators are malicious -The server company is malicious While at the same time usability is like with any other service. Title: Re: Interesting presentation on how Bitalo created a real no-trust Bitcoin service Post by: r34tr783tr78 on May 05, 2014, 01:07:27 PM interesting, thank you, but you told us about the problems you are solving, not the solution you are offering. How are you going to solve those problems?
Title: Re: Interesting presentation on how Bitalo created a real no-trust Bitcoin service Post by: Bitalo_Martin on May 05, 2014, 01:21:24 PM the solution is multi-signature wallets where the user's keys are only stored encrypted on the webserver, combined with two factor authentication that goes exclusively via the second device plus pre-signed recovery transactions that can "redeem" bitcoins in case of complete shutdown.
It is fully implemented at http://www.bitalo.com Title: Re: Interesting presentation on how Bitalo created a real no-trust Bitcoin service Post by: r34tr783tr78 on May 05, 2014, 01:38:06 PM Alright, thanks again, I'll check it.
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