During all this fear about the 51% you missed.........

[c5h3ris1253]

  You may of missed this pre-announcement from this completely open-source multisignature bitcoin wallet provider. They're owners are public, and you control your own keys! They're even developing a way for true escrow situations where people need to trustlessly control bitcoins. (RWES)

You can find it here: https://bitcointalk.org/index.php?topic=673533.0

----

 Thanks for your question, and nice job on apicoin! The project is run by Calvin, he's a great guy who's worked to actually build a system, and incorporate multisignature addresses (Open Source). He's also work to establish offices in CA and an awareness for multisignature addresses. If it makes you feel any better send him me, or any member of the team an email.


 Some features that can be trustlessly proven to protect users are:

• 2 FA
• User generated Encrypted Wallets, (Generated in browser)[TSL]
• Multisignature Wallets
• RWES(To be rolled out)
• P2SH
• BIP 71

 Seeing as you're a developer , I'm sure calvin would even be willing to show you some of the detailed code in the project as It's planned to be open source. We'd love to see what we can do to incorporate frozenbit even further especially in other game changing projects such as yours.

You can reach calvin here: Calvin@frozenbit.io

EDIT: Thanks for the time gweedo! I appreciated the swift and prompt email.
 

[1714844678]

1714844678

[1714844678]

1714844678

[jonald_fyookball]

looks cool but it didnt launch yet.

[c5h3ris1253]

looks cool but it didnt launch yet.

 I know, but wow the release is something to look forward too! It's been so long since someone has listened to the bitcoin community.

[franky1]

we dont need multiple third party wallets

all that is needed is services or even simple code to make a signed TX.. then the only thing that is needed to do online is PUSHTX

EG

if i input a privkey(from my paper wallet), a destination public key, and an amount to send. the opensource javascript (no server side processing) forms the TX and then puts it into a textbox or variable. which then can be sent to multiple relays such as blockchain.info and mining pool nodes

that way people dont need to have accounts and pre-deposited funds in third parties. they dont need usernames or passwords. all they need is their privkey, and 2 destination addresses (1 for recipient, 1 for change address).

i know alot of people will shout "but its harder to type in a privkey, than a password" and my answer is that if you are using a third party service with crap entropy (short and easy) then you dont deserve to have bitcoins

[Vintage]

all that is needed is services or even simple code to make a signed TX.. then the only thing that is needed to do online is PUSHTX

EG

if i input a privkey(from my paper wallet), a destination public key, and an amount to send. the opensource javascript (no server side processing) forms the TX and then puts it into a textbox or variable. which then can be sent to multiple relays such as blockchain.info and mining pool nodes

that way people dont need to have accounts and pre-deposited funds in third parties. they dont need usernames or passwords. all they need is their privkey, and 2 destination addresses (1 for recipient, 1 for change address)

I'm sure not everyone would want to go through that process for every transaction, or know how to for that reason for an average user like me. As the Bitcoin community goes that will include not so tech savy people too, so us not so tech savy people can have top of the line security without responsibility on us.

[franky1]

I'm sure not everyone would want to go through that process for every transaction, or know how to for that reason for an average user like me. As the Bitcoin community goes that will include not so tech savy people too, so us not so tech savy people can have top of the line security without responsibility on us.

typing in a username and a large entropy password (for security) and then typing/scanning a destination address. takes the same physical time and process as typing in /scanning 3 QR codes/priv-public keys

[FrozenBit]

--------------------------------------------

 Since user wallets are generated in browser so that's not the case. That would be like the starbucks employees explaining it's whole system to you every time all you wanted to do was buy a coffee. That's our inspiration comes from, the need for simplicity, security and the ability to do things in that light (multisig). That's why we are trying to make multisig so simple you won't even need a tutorial. One stop, done little to zero technicals anyway the most attractive things are the simplest. Don't forget the project is open-source so you can see what's going on.

EDIT: My promise to you is bitcoin is expanding from a niche, into the real world. It can only be "real" money when you make is so simple people can't spin the facts on it.

 -Calvin, CEO Frozen Bit

[jonald_fyookball]

when is it launching? cant wait to try it

[FrozenBit]

when is it launching? cant wait to try it

 End june- Mid July we are shooting for. Our announcement will be on Thursday for the official information on us (and a video).

 I will note that the RWES will not be done by then. We are innovating that from scratch, I think you guys will love it.

[franky1]

--------------------------------------------

 Since user wallets are generated in browser so that's not the case. That would be like the starbucks employees explaining it's whole system to you every time all you wanted to do was buy a coffee. That's our inspiration comes from, the need for simplicity, security and the ability to do things in that light (multisig). That's why we are trying to make multisig so simple you won't even need a tutorial. One stop, done little to zero technicals anyway the most attractive things are the simplest. Don't forget the project is open-source so you can see what's going on.

EDIT: My promise to you is bitcoin is expanding from a niche, into the real world. It can only be "real" money when you make is so simple people can't spin the facts on it.

 -Calvin, CEO Frozen Bit

the thing i see is that people have lazy passwords. and if your using multisig and 2 factor.. why not be simple and just have the privkey as the persons password

[forzendiablo]

new user raisig this? no thanx!

[Vintage]

new user raisig this? no thanx!

Post count is just a number.

[FrozenBit]

--------------------------------------------

------------------------

the thing i see is that people have lazy passwords. and if your using multisig and 2 factor.. why not be simple and just have the privkey as the persons password

 The thing is, we also giving you the keys so you could just use us a generator if you wanted too. Not to mention it's hard to bypass 2nd factor when it's phone, but I'm not stating it's impossible. But if you have any suggestions for us, we'd love to hear them. Infact send them to me over email.

EDIT: You know the password thing, I'm going to begin implementing a password requirement that I think would be beneficial. It's not as strong as priv. key password but if someone compromises that you're not only potentially losing coins, you're losing a password! But I thank you for bringing that to my attention, just shows why we listen to the community.


 Email: calvin@frozenbit.io

 Calvin, CEO FrozenBit

[fbueller]

As someone mentioned previously, tools to simply sign a multisig transaction would be immensely appreciated. How about a public key issuing facility, and raw transaction signing utility for transactions provided by others?

[FrozenBit]

As someone mentioned previously, tools to simply sign a multisig transaction would be immensely appreciated. How about a public key issuing facility, and raw transaction signing utility for transactions provided by others?

 I know we don't have an announcement yet, we're waiting until Thursday for that. We ARE developing a tool for making a 2-of-3 trustlessly with counter parties which allow you just to sign. It's going to be called RWES(Real World Escrow Situations), stay tuned for our announcement for that. We are also open-source so you could just make something we aren't currently doing yourself!

 Also note, our goal here is to cleverly teach people about multisig without the technicals behind it. It feels as simple as the blockchain, signup and done (with added security of multisig and 2fa :-))


 NOTE: RWES may NOT be ready for the End June- Mid-July Launch.

[franky1]

i envision a simple process such as this
green=clientside webpage red=sending to a server


Privkey: [___________] (textbox)
[ submit ] (button)
<code to turn privkey into publickey to start the signing process(input)>
API only to grab balance of the PUBLIC KEY (no privkeysent)
page shows balance
destination [___________] (textbox)
value to send [___________] (textbox)
[ submit ] (button)
<code to finish signing TX sending funds back to initial privkey or generates new address>
API sends signed TX to a PUSHTX

all of this can be done by using javascript and updating DIV elements so no page refreshing is needed where all the code is viewable and opensource.

again if frozen bit doesnt want this as their main wallet feature. they should atleast have it as a 'advanced' feature.. or atleast have an API to allow people to PUSHTX to, much like how blockchain.info and a few pools have

[FrozenBit]

i envision a simple process such as this
green=clientside webpage red=sending to a server


Privkey: [___________] (textbox)
[ submit ] (button)
<code to turn privkey into publickey to start the signing process(input)>
API only to grab balance of the PUBLIC KEY (no privkeysent)
page shows balance
destination [___________] (textbox)
value to send [___________] (textbox)
[ submit ] (button)
<code to finish signing TX sending funds back to initial privkey or generates new address>
API sends signed TX to a PUSHTX

all of this can be done by using javascript and updating DIV elements so no page refreshing is needed where all the code is viewable and opensource.

again if frozen bit doesnt want this as their main wallet feature. they should atleast have it as a 'advanced' feature.. or atleast have an API to allow people to PUSHTX to, much like how blockchain.info and a few pools have

 Thanks for that, nothing is set in stone and that's why we posted what we have so far. We consider ourselves tinkerers so I'm sure we're going to play around with that to see what we can do. Of course don't want to giveaway for Thursdays announcement so not revealing things yet. I do encourage everyone to follow us on twitter to be updated when we upload news or post the announcement.

http://twitter.com/frozenbitio

Site link: http://frozenbit.io

[Ron~Popeil]

As someone mentioned previously, tools to simply sign a multisig transaction would be immensely appreciated. How about a public key issuing facility, and raw transaction signing utility for transactions provided by others?

 I know we don't have an announcement yet, we're waiting until Thursday for that. We ARE developing a tool for making a 2-of-3 trustlessly with counter parties which allow you just to sign. It's going to be called RWES(Real World Escrow Situations), stay tuned for our announcement for that. We are also open-source so you could just make something we aren't currently doing yourself!

 Also note, our goal here is to cleverly teach people about multisig without the technicals behind it. It feels as simple as the blockchain, signup and done (with added security of multisig and 2fa :-))


 NOTE: RWES may NOT be ready for the End June- Mid-July Launch.

The trustless thing is truly exciting. Nice work! I am looking forward to checking it out when it goes live.

[fryarminer]

This looks legit. Excellent concept! Looking forward to seeing the launch.

[EcosystemArt]

all that is needed is services or even simple code to make a signed TX.. then the only thing that is needed to do online is PUSHTX

EG

if i input a privkey(from my paper wallet), a destination public key, and an amount to send. the opensource javascript (no server side processing) forms the TX and then puts it into a textbox or variable. which then can be sent to multiple relays such as blockchain.info and mining pool nodes

that way people dont need to have accounts and pre-deposited funds in third parties. they dont need usernames or passwords. all they need is their privkey, and 2 destination addresses (1 for recipient, 1 for change address)

I'm sure not everyone would want to go through that process for every transaction, or know how to for that reason for an average user like me. As the Bitcoin community goes that will include not so tech savy people too, so us not so tech savy people can have top of the line security without responsibility on us.

A lot of people i worked with,and they are 30 years +,still cant remember personal username and password,especially women.They need something easier if money is what we talk about,no matter bitcoin or else....

[franky1]

all that is needed is services or even simple code to make a signed TX.. then the only thing that is needed to do online is PUSHTX

EG

if i input a privkey(from my paper wallet), a destination public key, and an amount to send. the opensource javascript (no server side processing) forms the TX and then puts it into a textbox or variable. which then can be sent to multiple relays such as blockchain.info and mining pool nodes

that way people dont need to have accounts and pre-deposited funds in third parties. they dont need usernames or passwords. all they need is their privkey, and 2 destination addresses (1 for recipient, 1 for change address)

I'm sure not everyone would want to go through that process for every transaction, or know how to for that reason for an average user like me. As the Bitcoin community goes that will include not so tech savy people too, so us not so tech savy people can have top of the line security without responsibility on us.

A lot of people i worked with,and they are 30 years +,still cant remember personal username and password,especially women.They need something easier if money is what we talk about,no matter bitcoin or else....

i understand this. but for multisig, the user has to remember/use atleast two long entropy keys to be able to use coins

the thing that i find funny is that frozenbit does the generating of the 3 keys and gives them to users.. which i find less secure and less user friendly than simply allowing me to use my own privkey offline, which is also easier to input and keep safe.

[EcosystemArt]

all that is needed is services or even simple code to make a signed TX.. then the only thing that is needed to do online is PUSHTX

EG

if i input a privkey(from my paper wallet), a destination public key, and an amount to send. the opensource javascript (no server side processing) forms the TX and then puts it into a textbox or variable. which then can be sent to multiple relays such as blockchain.info and mining pool nodes

that way people dont need to have accounts and pre-deposited funds in third parties. they dont need usernames or passwords. all they need is their privkey, and 2 destination addresses (1 for recipient, 1 for change address)

I'm sure not everyone would want to go through that process for every transaction, or know how to for that reason for an average user like me. As the Bitcoin community goes that will include not so tech savy people too, so us not so tech savy people can have top of the line security without responsibility on us.

A lot of people i worked with,and they are 30 years +,still cant remember personal username and password,especially women.They need something easier if money is what we talk about,no matter bitcoin or else....

i understand this. but for multisig, the user has to remember/use atleast two long entropy keys to be able to use coins

the thing that i find funny is that frozenbit does the generating of the 3 keys and gives them to users.. which i find less secure and less user friendly than simply allowing me to use my own privkey offline, which is also easier to input and keep safe.

Not to forget,the new generations  i worked with,have no any problems keeping  username and password in minds ,it seems they are cool with that..........and their time is coming,keeping these informations in minds will be normal,like  we all know size of  our shoes

[jonald_fyookball]

the thing that i find funny is that frozenbit does the generating of the 3 keys and gives them to users.. which i find less secure and less user friendly than simply allowing me to use my own privkey offline, which is also easier to input and keep safe.

If they don't allow the user to do it client side offline, like bitaddress.org does... then IMO its a non starter.

[franky1]

the thing that i find funny is that frozenbit does the generating of the 3 keys and gives them to users.. which i find less secure and less user friendly than simply allowing me to use my own privkey offline, which is also easier to input and keep safe.

If they don't allow the user to do it client side offline, like bitaddress.org does... then IMO its a non starter.

+1 exactly. which is why i wonder why in hell it needs 2 factor, 3 sig keys to send funds all of which makes it more irritating to th user just to log in, rather than an offline transaction maker similar to bitaddress.orgs offline key generator scenario.

imagine it, frozenbits concept
1. type in username
2. type in lengthy password (most probably saved to a file if very long)
3. press login button
4. open email
5. copy code sent to email
6. paste code
7. press submit. (now finally logged in)
8. enter first sig key.
9. enter second sig key.
10. enter destination.
11. enter amount.
12. press send.

thats 7 processes a customer needs to do just to log on and then 5 to send funds. requiring 5 pieces of customer data just for login

my concept
1. enter Privkey
2. press submit
3. enter destination
4. enter amount
5. press send.

the frozenbit "wallet" should not be advertised as a personal wallet service. but as a "joint account" wallet service for board members and groups, as its very flawed for single individuals to use as a simple wallet

[jonald_fyookball]

the thing that i find funny is that frozenbit does the generating of the 3 keys and gives them to users.. which i find less secure and less user friendly than simply allowing me to use my own privkey offline, which is also easier to input and keep safe.

If they don't allow the user to do it client side offline, like bitaddress.org does... then IMO its a non starter.

+1 exactly. which is why i wonder why in hell it needs 2 factor, 3 sig keys to send funds all of which makes it more irritating to th user just to log in, rather than an offline transaction maker similar to bitaddress.orgs offline key generator scenario

Not sure what you mean exactly.  the whole point is they are providing multi sig.....anyway, it is really hard to discuss what it "needs" when it hasnt launched yet and we cant see it... i think we're just guessing.

[Marlo Stanfield]

This does look interesting. Definitely going to be keeping an eye on the project.

And yes, I did miss this during all the fear about the 51%. Good thing you posted this to remind us

[fbueller]

I'm amazed they generate keys and send them to users. This just goes to show that anyone will come up with a gimmicky system, which offers nothing outside new besides a 'web wallet with questionable security'. I really wish providers of such things made a better effort to ask the community for feedback before implementing such a bad design.

A client-side, offline, signing utility is going to be important since CoinBin's doesn't work for some keys.. It's a shame people are most interested in producing a new crappy wallet instead of developing core functionality first.

Also, is it just me, or who are these people with basically 0 activity posting to 'remind' us about this rubbish? Chris, Calvin, seem affiliated, this whole thing seems too much like a sham. Keep well away, it's just another web wallet.

[Meuh6879]

A lot of people i worked with,and they are 30 years +,still cant remember personal username and password,especially women.They need something easier if money is what we talk about,no matter bitcoin or else....

that why QR-code must be used ... in any advertizing campaign.

[Marlo Stanfield]

I'm amazed they generate keys and send them to users. This just goes to show that anyone will come up with a gimmicky system, which offers nothing outside new besides a 'web wallet with questionable security'. I really wish providers of such things made a better effort to ask the community for feedback before implementing such a bad design.

A client-side, offline, signing utility is going to be important since CoinBin's doesn't work for some keys.. It's a shame people are most interested in producing a new crappy wallet instead of developing core functionality first.

Also, is it just me, or who are these people with basically 0 activity posting to 'remind' us about this rubbish? Chris, Calvin, seem affiliated, this whole thing seems too much like a sham. Keep well away, it's just another web wallet.

I can't speak for anyone else but I have absolutely no affiliation with anyone and I hadn't heard of this project before this post.

[FrozenBit]

all that is needed is services or even simple code to make a signed TX.. then the only thing that is needed to do online

i understand this. but for multisig, the user has to remember/use atleast two long entropy keys to be able to use coins

the thing that i find funny is that frozenbit does the generating of the 3 keys and gives them to users.. which i find less secure and less user friendly than simply allowing me to use my own privkey offline, which is also easier to input and keep safe.

I would like to state to franky you've made that comment days before we've given information on the service. Therefore I'd like to digress from the assumption we make keys, as it's all done client side. The fundamental flaw in you idea is you have to actively have your key stored. Since that's done your risk of theft goes up 25%

 Your idea is just that, our project is open source so you'll quickly find all claims debunked.  You could add onto what weve done with your idea, but all I'm seeing is flags from that. I personally woulsnt use anything that requires me to store my key just to log in.

 Please do refrain from speculation days before the announcement. To put you down lightly you're just wrong.
 
 Also note nothing is set in stone, code can be changed. Features will be added so give it time to get it right or you can ask satoshi why he took more than an hour to make Bitcoin.

 Were only a public stepping stone onto multisig. But I give you this task, get 5 people to use bitcoin today. Then try to show them the code. Odds are they'll be steered by that. So let's remove the oh look we can remove this step talk. It's only a crafty way we've been designing to show the protocol is a much more acute way.

[FrozenBit]

 Thanks for your questions, please do check out the release on thursday to see the real information of the wallet. Like previously stated it's open source so anyone can use, change and enjoy the site the way they want to.

[Ron~Popeil]

all that is needed is services or even simple code to make a signed TX.. then the only thing that is needed to do online

i understand this. but for multisig, the user has to remember/use atleast two long entropy keys to be able to use coins

the thing that i find funny is that frozenbit does the generating of the 3 keys and gives them to users.. which i find less secure and less user friendly than simply allowing me to use my own privkey offline, which is also easier to input and keep safe.

I would like to state to franky you've made that comment days before we've given information on the service. Therefore I'd like to digress from the assumption we make keys, as it's all done client side. The fundamental flaw in you idea is you have to actively have your key stored. Since that's done your risk of theft goes up 25%

 Your idea is just that, our project is open source so you'll quickly find all claims debunked.  You could add onto what weve done with your idea, but all I'm seeing is flags from that. I personally woulsnt use anything that requires me to store my key just to log in.

 Please do refrain from speculation days before the announcement. To put you down lightly you're just wrong.
 
 Also note nothing is set in stone, code can be changed. Features will be added so give it time to get it right or you can ask satoshi why he took more than an hour to make Bitcoin.

 Were only a public stepping stone onto multisig. But I give you this task, get 5 people to use bitcoin today. Then try to show them the code. Odds are they'll be steered by that. So let's remove the oh look we can remove this step talk. It's only a crafty way we've been designing to show the protocol is a much more acute way.

There will always be people that don't like a service for whatever reason. For me the fact that you are making it open source makes it more trustworthy. I am looking forward to checking it out. 

[Acidyo]

Looks very interesting, can't wait for the launch.

[testconpastas2]

If I have to use a multisig online wallet the only things I ask for are:

in a 2 of 3 multisign I have to create the 3 priv keys  and I am the one who gives one of them to the online wallet.

the other 2 will be cold priv keys  ( one on a trezor/coldwallet and the other on a paperwallet)


privs keys generated for third-parties ( or even online created ones) are not enough for a serious user.

IMHO is better an aproach like this:
https://api.trustedcoin.com/#/example-2-of-3

[FrozenBit]

If I have to use a multisig online wallet the only things I ask for are:

in a 2 of 3 multisign I have to create the 3 priv keys  and I am the one who gives one of them to the online wallet.

the other 2 will be cold priv keys  ( one on a trezor/coldwallet and the other on a paperwallet)


privs keys generated for third-parties are not enough for a serious user.

IMHO is better an aproach like this:
https://api.trustedcoin.com/#/example-2-of-3

 Everything is done in browser for you, client side. So you technically make the keys. Using the open-source portion you can create your own addresses offline. Thus fufilling both your requests. What needs to be known is this product has to be able to reach everyone. Not just technically proficent, it's IMPERATIVE for the spread of multisig.

"Priv keys generated for third-parties are not enough for a serious user."

 That claim isn't tested, so I can't attest or confirm that. No business I know of is currently embracing multi-sig. I do know of businesses I've been in contact with that does want to use multi-sig but just couldn't piece it together.

 Bitcoin is built for a global economy so no one has to exchange currency anymore. All money united into one math based coin. Multisig is based on securing pockets trustlessly and providing the need for businesses to get involved. The last thing we want to hear about is a business getting robbed of millions in coins because a rouge employee or floating key.

 Trusted coin is nice, but it has a withdraw delay. If you need to pay on the fly you simply can't. Also it's a little clunky and it's not clear on how to access your coins. Simplicity, usability and accessibility is what FrozenBit does.

[testconpastas2]

If I have to use a multisig online wallet the only things I ask for are:

in a 2 of 3 multisign I have to create the 3 priv keys  and I am the one who gives one of them to the online wallet.

the other 2 will be cold priv keys  ( one on a trezor/coldwallet and the other on a paperwallet)


privs keys generated for third-parties are not enough for a serious user.

IMHO is better an aproach like this:
https://api.trustedcoin.com/#/example-2-of-3

 Everything is done in browser for you, client side. So you technically make the keys. Using the open-source portion you can create your own addresses offline. Thus fufilling both your requests. What needs to be known is this product has to be able to reach everyone. Not just technically proficent, it's IMPERATIVE for the spread of multisig.


"Priv keys generated for third-parties are not enough for a serious user."

 That claim isn't tested, so I can't attest or confirm that. No business I know of is currently embracing multi-sig. I do know of businesses I've been in contact with that does want to use multi-sig but just couldn't piece it together.

 Bitcoin is built for a global economy so no one has to exchange currency anymore. All money united into one math based coin. Multisig is based on securing pockets trustlessly and providing the need for businesses to get involved. The last thing we want to hear about is a business getting robbed of millions in coins because a rouge employee or floating key.

 Trusted coin is nice, but it has a withdraw delay. If you need to pay on the fly you simply can't. Also it's a little clunky and it's not clear on how to access your coins. Simplicity, usability and accessibility is what FrozenBit does.

Can All three keys be generated offline? and then, one of them sent to you? sorry if i didnt undestand, but not too much info about how it works in your web/post

I understand your desire of bringing  easiness , but when we talk about btc, security goes first.


watching this project.... good luck

[FrozenBit]

If I have to use a multisig online wallet the only things I ask for are:

in a 2 of 3 multisign I have to create the 3 priv keys  and I am the one who gives one of them to the online wallet.

the other 2 will be cold priv keys  ( one on a trezor/coldwallet and the other on a paperwallet)


privs keys generated for third-parties are not enough for a serious user.

IMHO is better an aproach like this:
https://api.trustedcoin.com/#/example-2-of-3

 Everything is done in browser for you, client side. So you technically make the keys. Using the open-source portion you can create your own addresses offline. Thus fufilling both your requests. What needs to be known is this product has to be able to reach everyone. Not just technically proficent, it's IMPERATIVE for the spread of multisig.


"Priv keys generated for third-parties are not enough for a serious user."

 That claim isn't tested, so I can't attest or confirm that. No business I know of is currently embracing multi-sig. I do know of businesses I've been in contact with that does want to use multi-sig but just couldn't piece it together.

 Bitcoin is built for a global economy so no one has to exchange currency anymore. All money united into one math based coin. Multisig is based on securing pockets trustlessly and providing the need for businesses to get involved. The last thing we want to hear about is a business getting robbed of millions in coins because a rouge employee or floating key.

 Trusted coin is nice, but it has a withdraw delay. If you need to pay on the fly you simply can't. Also it's a little clunky and it's not clear on how to access your coins. Simplicity, usability and accessibility is what FrozenBit does.

Can All three keys be generated offline? and then, one of them sent to you? sorry if i didnt undestand, but not too much info about how it works in your web/post

I understand your desire of bringing  easiness , but when we talk about btc, security goes first.


watching this project.... good luck

 Stay tuned for Thursday when we release full information, this was simply to spread awareness of the project (a teaser).

 Also watch for video releasing soon!

[c5h3ris1253]

 Just read through all of frozenbits replys, looking forward to this release.

[niejingjnyuy875]

Great, this is a good step towards even better community

[FrozenBit]

Announcement will happen in less than 5 hours from now.

[DeathAndTaxes]

I'm amazed they generate keys and send them to users. This just goes to show that anyone will come up with a gimmicky system, which offers nothing outside new besides a 'web wallet with questionable security'. I really wish providers of such things made a better effort to ask the community for feedback before implementing such a bad design.

I don't have a problem with a site generating keys but generating the keys server side and then saying you are "trustless" is a tall tale (I will be nice and not say it is dishonest).

[FrozenBit]

I'm amazed they generate keys and send them to users. This just goes to show that anyone will come up with a gimmicky system, which offers nothing outside new besides a 'web wallet with questionable security'. I really wish providers of such things made a better effort to ask the community for feedback before implementing such a bad design.

-------------------

 Again I would like state no information has been released about the service, the story presented here is just that. It contains no official information and the person who typed this has no affiliation with frozenbit and has no factual knowledge of the service. As the service is open-source and everything we have stated can be proven.

 So I will again reiterate keys are all generated in browser by the user. As there is an offline package that is usable.
 

 Stay tuned for official information today in about 4 hours.

[acs267]

Well, this is awesome. New stuff. Half-way into a new year. Though, am I the only one that didn't really pick up on the 51% stuff?

[FrozenBit]

Official thread was just released: https://bitcointalk.org/index.php?topic=650203.0

[c5h3ris1253]

http://www.reddit.com/r/Bitcoin/comments/293670/multisignature_wallets_means_anyone_anywhere_can/


 That's a nice assessment.

[henrydavidharris]

 Looks extremely cool! Seen these guys handle themselves pretty professionally earlier aswell.

[c5h3ris1253]

Updated with new links!

[franky1]

we all know c5h3ris1253 and frozen bit are the same person, i have seen c5h3ris1253 go offline then frozenbit comes online then comment, goes offline and c5h3ris1253 comes straight online.

i also find it funny that a multisig wallet service needs a username and password.

all they need in reality is upto 5 text boxes that while offline (no server communication) clients can input upto 3 multisigs. and javascript can then do its job to form a transaction, where the client also types in a destination and amount. the transaction gets signed offline and only a signed tx gets pushed to the bitcoin network

i count 9 inputs being required to login, 2FA, type in multi sigs, destination etc.. which is not "user friendly" or noob/ granny proof

so we have a non secure, middleman with a non easy to use project plan, that is not even finalized

DO NOT PUT REAL BITCOINS INTO THIS SERVICE


it is worth noting that even in their agreement thy admit that they do store private keys

Bitcoin Storage & Transmission Delays. FrozenBit securely stores 100% of all bitcoin associated with your FrozenBit Account in a combination of online and offline storage.

so BE CAREFUL they will own the private keys!
also they have this in the terms and conditions

    Pursuant to Section 6.2 below, you agree that any disputes between you and FrozenBit will be resolved by binding, individual arbitration and you waive your right to participate in a class action lawsuit or class-wide arbitration.

it is worth noting that if frozenbit do steal your funds, then it automatically made their agreement null and void on THEIR part as they have breached the agreement (its called theft, which is a crime!). of course seek an amicable agreement first purely because it wont cost you anything, but do it on your terms not theirs. and if they don't return 100% of funds.. sue them, as their breach means they cannot then use the agreement as a defense. crimes cannot be avoided simply because of a agreement paragraph.. thus thefts can be taken to court, and that includes class actions.

in short i think they are complete amateurs with alternate motives.

remember bitcoin was designed to not need middle men.. DO NOT BLINDLY TRUST MIDDLEMEN

[c5h3ris1253]

   ?? I'm apart of their beta right now. I've also visited their office.

 They store zero keys?

 So what are you talking about dude?

[FrozenBit]

Well, this is awesome. New stuff. Half-way into a new year. Though, am I the only one that didn't really pick up on the 51% stuff?

 Yeah, thanks for the compliment

[FrozenBit]

 Thank you for your support chris!

[phillipsjk]

I am intrigued, but all I see is marketing fluff.

Edit: Does frozen bit allow the users of the site to require n of m people to sign a transaction? Or is the site the third party in all cases?