The Bank of Bitcoin- The World's Most Secure Bitcoin Service- Unhackable!

[AzureEngineer]

unahackable

[EmperorBob]

Why do you disallow ' and \ even in passwords?

Hi Veronica,
The quote above (I have yet to verify it for myself) suggests that you guys may be storing passwords in plaintext. I certainly hope you don't because the kinds of users you're targetting, who are less technologically inclined, will reuse the same password over and over. Since you also store their email address, this leads to them quickly getting their fiat online banking, email account and other accounts compromised if you do get hacked. If you don't know, please ask your developpers. If they say they're storing passwords in plaintext (or using anything other than bcrypt), please refer them to this http://codahale.com/how-to-safely-store-a-password/.

A friendly reminder to to anyone considering using the site: Use a different password, it protects you against malicious websites and incompetent ones alike.

[mcfundash]

this certainly looks interesting

[saudibull]

Hmm, so why dont people just keep their own btc on paper instead of giving it to you... lol

[saudibull]

lol your bank is not "unhackable" nothing is. You make yourself sound ignorant saying this.

+1

[TheBankofBitcoin.com]

BitWulf- This is NOT a bank in the traditional, government-controlled bank.  It is a bank in that it is a way to store Bitcoins, and it would be impossible for even the government to confiscate Bitcoins from a Paper Vault from The Bank of Bitcoin (or for anyone else to steal them for that matter) so in that sense it is even more secure than a traditional bank.

AzureEngineer and saudibull- yes, our Paper Vaults are unhackable.  As I have said before in this thread, it is impossible to hack a piece of paper with Bitcoins Addresses and Private Keys hidden in your sock drawer.  It is specifically these Paper Vaults which are unhackable.

EmperorBob- No we don't store passwords in plaintext.  Our programmers are fanatical about even the possibility of security flaws, and have simply disallowed certain characters which have been associated with security breaches on other websites in the past.  They have told me that in reality allowing these character would probably not be a problem at all...but why take a chance with security?  I was surprised myself some time back when I was sending a test message from our Contact form, and I received the notification that a certain character was not allowed in the subject line.  Again, our programmers just disallowed certain characters that could be used as "escape" characters or could be used to execute or inject "rogue code," even when the possibility of this happening is small to non-existent.

[surfin01]

sounds like a good idea, if it isn't a scam..

[TheBankofBitcoin.com]

surfin01- Thanks! Actually, one of the best features, which we haven't talked about much on here, is the ability to send BTC to other Bank members instantly, without needing to wait for any sort of confirmation from the Bitcoin p2p network.  (These are Bitcoins stored in Active Storage, not in Paper Vaults, just for clarification.) We think that this has the potential to really advance Bitcoin commerce in the future.  Imagine going to a store and trying to buy something with Bitcoin, but having to wait at the register for confirmation.  It's just not practical.

We imagine, instead, moving a certain amount of BTC from your Paper Vault to Active Storage before your visit to the store, anticipating the amount you will spend.  Then, at the register you just move BTC from your Active Storage to the store's Bank of Bitcoin Account, instantly! And not only is it instant, but even the small Bitcoin p2p network fee would be eliminated.  As this practice became widespread, not only would it increase the acceptance of Bitcoin as an alternate currency, but we feel it would serve to increase the monetary value of Bitcoins.

[DannyHamilton]

surfin01- Thanks! Actually, one of the best features, which we haven't talked about much on here, is the ability to send BTC to other Bank members instantly, without needing to wait for any sort of confirmation from the Bitcoin p2p network.  (These are Bitcoins stored in Active Storage, not in Paper Vaults, just for clarification.) We think that this has the potential to really advance Bitcoin commerce in the future.  Imagine going to a store and trying to buy something with Bitcoin, but having to wait at the register for confirmation.  It's just not practical.

We imagine, instead, moving a certain amount of BTC from your Paper Vault to Active Storage before your visit to the store, anticipating the amount you will spend.  Then, at the register you just move BTC from your Active Storage to the store's Bank of Bitcoin Account, instantly! And not only is it instant, but even the small Bitcoin p2p network fee would be eliminated.  As this practice became widespread, not only would it increase the acceptance of Bitcoin as an alternate currency, but we feel it would serve to increase the monetary value of Bitcoins.

Get a well known and respected company to issue a verifiable certificate after auditing your code and security practices.  Then get a well known and respected insurance company to insure the deposits.  If you can do both of those, I'll consider using your "bank".  Until then, you are just another wallet service that is likely to disappear with the funds like so many similar services have done in the past.

[qwerty1231121]

Unfortunately people have not gotten the idea of depositing their bit coin with someone else since there is really no way to trace lost bitcoins

[alkuluku]

lol your bank is not "unhackable" nothing is. You make yourself sound ignorant saying this.

+1

"This ship is unsinkable."

[yurtesen]

lol your bank is not "unhackable" nothing is. You make yourself sound ignorant saying this.

+1

"This ship is unsinkable."

+1!

[thedarke]

Bank, Credit, misplaced trust- these are all the opposite of what BitCoin is about.

+1 to everyone else calling BS- pretty sure even your Paper backups can be stolen- it's called a Bank Robbery- happens every day, put enough asset in one place (such as a bank vault), it's going to become pretty tempting to go fetch.

Disperse, displace, distribute and encrypted- security through being a moving target, not by putting it in a vault.

[petrjanda]

Do your research guys. This just reeks bad scam. In most developed countries, companies cannot legally have the word "bank" in their name because it is a restricted word, and only authorized institutions can put it in their name. There are certain exceptions (such as River Bank Corp etc).

Secondly, I would not trust any company with money that doesn't want to verify customers identity. It's just bad practice.

Learn the regulations in your country, otherwise you're gonna get shutdown BankOfBitCoin. I just hope they will get caught before they manage to run  away with the money of the few or many who trusted them.

[Inedible]

TheBankofBitcoin.com - glad you're still persevering

Looks like this was mainly a marketing issue - hope it goes well.

[oolongtes1369]

"Bank" "Bitcoin"
There is no collocation between these two words.
Do you even know how and why Bitcoin was invented

[TheBankofBitcoin.com]

I think perhaps the word "Bank" in our name is confusing people at the least, and giving them an idea of what we are which is exactly opposite of what we truly are.  When you put Bitcoin in a Paper Vault you are NOT depositing it with us at all - and that's the point.  We are providing an extremely convenient way of anonymously creating offline Bitcoin storage, on paper, which only YOU have control of.  Each time I see a "+1" when someone says "nothing is unhackable" I have to laugh and shake my head, knowing that they simply do not understand what we do, or exactly what a Paper Vault is.   

A Paper Vault is a paper printout containing Bitcoin Addresses and Private Key pairs.  These are not generated on our server, but on the user's own computer, using client-side javascript.  The Private Keys are not transmitted over the Internet, and the Paper Vaults are also never in our possession, but are only printed and kept by the user.  Our claims of "unhackable" only apply to the Paper Vaults themselves: we are only (and very specifically) claiming that a Paper Vault, properly created, cannot be hacked by any known means.  I have stated, a few times already, that there is no way someone can "hack" a piece of paper tucked away in your sock drawer, or wherever else you choose to keep it.  Sure, it can be stolen...but then again someone can steal the computer you run the Bitcoin client on, and let's face it, it's much easier to securely hide away a valuable piece of paper than a valuable computer.

I know this is a rather long thread - 6 pages as I type this - so I know that many of those commenting haven't read every word and thus don't actually understand what we are offering yet.  And that is fine.  We are happy to explain. 

[TheBankofBitcoin.com]

Inedible- I forgot to mention it in my last post, but thanks for your kind words.  It seems that you are someone who does "get" what we are doing, and as you are a Sr. Member of this board we are happy about that.  Of course, just because you "get" it does not mean you actually endorse us or even trust us, but it does show that you have taken the time to understand, and we appreciate that!

[mikesilver]

I've read every post in this thread so far.

I have also coded in javascript, and the Bank of Bitcoin idea sounds credible and solid to me. Not to mention, Veronica's patience and persistence is not the behavior of a scammer.

I can see that a lot of people are skeptical.

Are there any senior members here that care to admit to trying out the Bank of Bitcoin?

Yes, I know this is my first post, but I got to start somewhere...

[kokjo]

I've read every post in this thread so far.

I have also coded in javascript, and the Bank of Bitcoin idea sounds credible and solid to me. Not to mention, Veronica's patience and persistence is not the behavior of a scammer.

I can see that a lot of people are skeptical.

Are there any senior members here that care to admit to trying out the Bank of Bitcoin?

Yes, I know this is my first post, but I got to start somewhere...

SOCKPUPPET DETECTED!