I like the feedback this thread is getting.
I'll be straight. I'm
against XAPO.
Things I've heard/know about it are:
What I don't like about XAPO:You need to give: Passport/Telephone info & DNA sample. (fact, except DNA part.)
They're against bitcoin's ideology. You're not anonymous, nor there's decentralization. (fact)
They're not a wallet only, but a bitcoin -
BANK-. Bitcoin is supposed to be against banks and decentralization, right? (fact)
Xapo has been described by The Wall Street Journal as the Fort Knox of bitcoin storage.
How do banks make money? They make money with
-your- money which is in their system.
XAPO
ADVISORS:
LAWRENCE H. SUMMERS
Lawrence H. Summers was the Secretary of the Treasury under President Bill Clinton, and continues to be one of the leading economic and policy thinkers of our time. “Until now whenever we’ve needed to transfer money we’ve had to rely on a third party, whether it be a bank, a clearing house or a payment network. Bitcoin offers, for the first time, a method for transferring value and making payments from anywhere to anywhere, in real-time, without any intermediary. This could mean we soon see many billions of people sending bitcoin everyday as easily as they currently send a text message.”
DEE HOCK
Dee Hock is the founder of Visa, and is responsible for effectively creating payment systems as we know them today. “Bitcoin represents not only the future of payments but also the future of governance,” Mr. Hock said. “We live in the 21st century but are still using command and control organizational structures from the 16th century. Bitcoin is one of the best examples of how a decentralized, peer-to-peer organization can solve problems that these dated organizations cannot. Like the Internet, Bitcoin is not owned or controlled by any one entity, so it presents incredible opportunities for new levels of efficiency and transparency in financial transactions.”
JOHN REED
John Reed was formerly the Chairman & CEO of Citibank, and was responsible for growing Citibank into the world’s first truly global financial franchise. Under Mr. Reed’s leadership Citibank developed the modern ATM and helped redefine the modern retail banking experience. “Financial services have remained largely untouched by the digital revolution,” says Mr. Reed. “Bitcoin represents a real opportunity for changing that. Money at its core is simply a ledger for keeping track of debts and Bitcoin is truly the best iteration of a universal ledger we’ve ever seen. The mere fact that there will never be more than 21 million bitcoins and that each bitcoin can be divided into 100 million units makes it a significant improvement on any historical form of currency.”
Their approach back in 2014 if I remember correctly, when they contacted faucet owners (including me, and I declined their offer) was:
Bring a member, get 5k satoshi per user. (fact)
They were giving 5k satoshi for -your private info-. Is that how much your info is worth? 5k satoshi? (fact)
We're all products on the internet, no matter what we do or who we are. (fact)
Valuing your own privacy must be on top of your head. (MUST)
What I like about XAPO:
1-2 years ago, when the US authorities went after them, they managed to move their entire operation from the US to Switzerland in about 24 hours.
That takes b4lls and a lot of money & nerves.
From the business/corporation prospective, kudos.
Debt card. That's a huge plus for everyone who feels comfortable having a bank account and withdrawing his BTC to his local currency. Good, or bad guy(s).
You can send BTC with just an e-mail address, but you have to be registered on their platform. Hm, this is good & bad, but I'm putting it in the good side, since bitcoin isn't a mainstream currency/commodity/(whatever_it_is_to_you) and it makes it easier for people to use it.
There's more things, but anyway. Don't want to open debates with people who're using the service, since they know more than I do. This is just my personal, humble opinion. If I am wrong, or you think I am wrong, I apologize in advance.
