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Author Topic: Video Coinkite interview on Newfination  (Read 1575 times)
nvK
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October 28, 2013, 03:20:08 PM
 #1

A bit of background, I try to explain in about 30min what the heck we do.

Original article with the video.
www.newfination.com/2013/10/28/coinkite-review-rodolfo-novaks-crypto-bank-supports-bitcoin-litecoin-and-more/4719/


Our cached of it http://blog.coinkite.com/post/65336871884/rodolfo-novak-talks-about-coinkite-newfination




--- About Coinkite

Coinkite is a Cryptobank

We empower customers and merchants to transact in bitcoin, and other crypto currencies, in both online and physical worlds — just as you would with online banking and debit cards.

It's the bitcoin incentive that makes the "blockchain" technology work, stupid.
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nameface
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November 12, 2013, 03:06:02 AM
 #2

It seems a lot of users could benefit from a legit cryptobank/online wallet service these days. The recent Inputs.io hack/scam was certainly a wake up call.

It's hard to trust anonymous people. Their services lack checks and balances, and they will rob you an alarmingly high percentage of the time. Inputs.io may or may not have been a con job, but the fact remains that people entrusted their money to an insecure anonymous service, again Roll Eyes [insert Picard dafuq]

This community needs to stick to the services built by our community's legitimate entrepreneurs.

Anyways, very nice job on the interview. I like what you were saying about looking ahead 5+ years. Things are changing, you gotta stay nimble.
nvK
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November 12, 2013, 04:15:17 AM
 #3

It seems a lot of users could benefit from a legit cryptobank/online wallet service these days. The recent Inputs.io hack/scam was certainly a wake up call.

It's hard to trust anonymous people. Their services lack checks and balances, and they will rob you an alarmingly high percentage of the time. Inputs.io may or may not have been a con job, but the fact remains that people entrusted their money to an insecure anonymous service, again Roll Eyes [insert Picard dafuq]

This community needs to stick to the services built by our community's legitimate entrepreneurs.

Anyways, very nice job on the interview. I like what you were saying about looking ahead 5+ years. Things are changing, you gotta stay nimble.

Thanks, glad you liked the interview.
Let us know what you think of Coinkite.

It's the bitcoin incentive that makes the "blockchain" technology work, stupid.
knight22
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November 12, 2013, 04:19:24 AM
 #4

This seems to be great stuff. When and where do you plan distribute your terminals?

nvK
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November 12, 2013, 04:23:48 AM
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This seems to be great stuff. When and where do you plan distribute your terminals?

The web wallet and is all up and running, the debit cards are coming in next week and we will be shipping them just after that. The POS hardware are all ready and production lines set, we are finishing up and testing the software now we plan on shipping them on the Q1 of 2014, maybe a few lucky ones will get it before.

It's the bitcoin incentive that makes the "blockchain" technology work, stupid.
nvK
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November 12, 2013, 04:32:22 AM
 #6

Couldnt help myself, here are the pics of the card i have on my wallet — already have my working one.
You could send an mBTC to it and see on the blockchain already.







It's the bitcoin incentive that makes the "blockchain" technology work, stupid.
p2pbucks
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November 12, 2013, 04:56:40 AM
 #7

It seems a lot of users could benefit from a legit cryptobank/online wallet service these days. The recent Inputs.io hack/scam was certainly a wake up call.

It's hard to trust anonymous people. Their services lack checks and balances, and they will rob you an alarmingly high percentage of the time. Inputs.io may or may not have been a con job, but the fact remains that people entrusted their money to an insecure anonymous service, again Roll Eyes [insert Picard dafuq]

This community needs to stick to the services built by our community's legitimate entrepreneurs.

Anyways, very nice job on the interview. I like what you were saying about looking ahead 5+ years. Things are changing, you gotta stay nimble.
+1 , actually i don't trust any banks at all including BTC banks since inputs.io vanished . Why we need a BTC bank ?
nvK
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November 12, 2013, 05:02:27 AM
 #8

It seems a lot of users could benefit from a legit cryptobank/online wallet service these days. The recent Inputs.io hack/scam was certainly a wake up call.

It's hard to trust anonymous people. Their services lack checks and balances, and they will rob you an alarmingly high percentage of the time. Inputs.io may or may not have been a con job, but the fact remains that people entrusted their money to an insecure anonymous service, again Roll Eyes [insert Picard dafuq]

This community needs to stick to the services built by our community's legitimate entrepreneurs.

Anyways, very nice job on the interview. I like what you were saying about looking ahead 5+ years. Things are changing, you gotta stay nimble.
+1 , actually i don't trust any banks at all including BTC banks since inputs.io vanished . Why we need a BTC bank ?

Honestly, I really find keeping spending money ("Checking Account") on a desktop wallet a pain in the ass. I want to be able to go spend my cash with not even having to put a password on my phone — In Canada we are huge fans of debit. On top of that put yourself in the place of more harsh environments or poorer places. Carrying a smart phone might not be possible/available, and texting might be the only way to transact, making a card even more enticing. One of the reasons Fiat made it over gold throughout history is portability and low cost maintenance. The world is not black and white, and there will be room for many simultaneous solutions.

It's the bitcoin incentive that makes the "blockchain" technology work, stupid.
nameface
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November 12, 2013, 04:59:16 PM
 #9

It seems a lot of users could benefit from a legit cryptobank/online wallet service these days. The recent Inputs.io hack/scam was certainly a wake up call.

It's hard to trust anonymous people. Their services lack checks and balances, and they will rob you an alarmingly high percentage of the time. Inputs.io may or may not have been a con job, but the fact remains that people entrusted their money to an insecure anonymous service, again Roll Eyes [insert Picard dafuq]

This community needs to stick to the services built by our community's legitimate entrepreneurs.

Anyways, very nice job on the interview. I like what you were saying about looking ahead 5+ years. Things are changing, you gotta stay nimble.
+1 , actually i don't trust any banks at all including BTC banks since inputs.io vanished . Why we need a BTC bank ?
I used to think that too, but new data has changed my opinion.

Remember that inputs.io was anonymous, and CoinKite and others are not. Many people here probably imagine anonymity as a good thing, because it protects their money from state/banking cartel seizure. But I think from the consumer perspective, anonymity amplifies the risk of losing your cash.

I'm not sure precisely why and how individuals are using cryptobanking services, but they are. I'm sure CoinKite and others are doing a lot of research to determine the needs of the eco-system.

re: Compliance and Risk

I'm Canadian and I work in the Bitcoin space, so I have my finger on pulse of the regulators here. It's not like the United States. In general, the banks have an even more obvious cartel-like monopoly here, and they are all entirely up in each other's business. But the government is friendly towards financial technology innovation, and they are up to speed on Bitcoin. So I seriously doubt there will ever be a crackdown. There will be government acceptance and new laws, and it is the banks who will need to either adapt or lose ground. My prediction is that if cryptocurrencies get bigger (and of course they will), banks will play ball. There are already bankers from the big 5 Canadian banks showing up at Bitcoin meetups in Toronto.

Since CoinKite is crypto only. They are off the government's radar, and do not require licenses. I guess that will probably change one day in the future (when Bitcoins are worth $10,000 Smiley). I'm curious what sort of licenses, if any, CoinKite does have?
nvK
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November 12, 2013, 05:03:30 PM
 #10

At the moment no license as we couldn't find any to get.
Would be great to get insurance for accounts someday.


BTW, we were featured on the Star today!
http://www.thestar.com/news/gta/2013/11/12/bitcoin_entrepreneurs_want_to_put_virtual_coins_in_your_wallet.html



It's the bitcoin incentive that makes the "blockchain" technology work, stupid.
nameface
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November 12, 2013, 05:17:48 PM
 #11

Grin awesome

from the article (published today):
"Today an individual bitcoin is worth more than $200, and the current value of all bitcoins in circulation is more than $2.5 billion."
The editor was asleep at the wheel hahaha! Gox price is $402 CAD right now!
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