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Author Topic: possible ways to make bitcoin's usage safe  (Read 3035 times)
Impros88 (OP)
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September 07, 2014, 08:49:35 PM
 #1

first problem is that bitcoin Exactely as cash is portable. So if you lose it or someone steals the device which contains the file .dat you have lost it. Maybe the third won't use it if there is a password but you will not too.
So my idea is cloud. A bid cloud where all files can be kept inside. Not a society holding your btc but a cloud where you hold your btc. I am not an expert and this is only a basic idea.
Second problem is using btc. It is unsafe for same reason. You can lose the device which holds bitcoin. Or the device can be hacked by virus, being the device a pc or a smartphone. Well this can be solved easily. We can make a device peculiarly make to keep bitcoin and nothing more, so super safe from external attacks.
But here is my second idea: this device would not have the bitcoin inside but would simply connect to the cloud I mentioned above to access that file when necessary, using a password or 2 steps password obviously. So if you lose the device there is no problem at all. You can buy another and access your own bitcoin account in the cloud and restore your wallet.
I am very naif so I ask you if this has already been made or if it is possible. Thanks a lot.
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September 07, 2014, 08:52:13 PM
 #2

Could be a good idea. Though what if some one hacks the cloud?
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September 07, 2014, 08:53:34 PM
 #3

Terrible idea with the cloud. Plus, a hardware wallet already exists, its called Trezor.

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oceans
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September 07, 2014, 09:22:09 PM
 #4

I'm not too sure a cloud would work, I mean they do seem pretty safe for other reasons but for something like bitcoin that needs all the protection it can get and to be kept as safe as possible. With a cloud I am not sure there would be any way to prevent hacking meaning it may not be any safer.
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September 07, 2014, 09:26:29 PM
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You worried about loss of physical stuffs, but for you the cloud will be unhackable and impossible for the users make mistakes and let others have access to the keys?
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September 07, 2014, 09:41:00 PM
 #6

We can make a device peculiarly make to keep bitcoin and nothing more, so super safe from external attacks.
 
But here is my second idea: this device would not have the bitcoin inside but would simply connect to the cloud I mentioned above to access that file when necessary, using a password or 2 steps password obviously. So if you lose the device there is no problem at all. You can buy another and access your own bitcoin account in the cloud and restore your wallet.

DONE !!!

http://www.bitcointrezor.com/

1) Private keys never leave the device. It is unhackable.

2) If lost you simply buy another one, reenter the seed (24 random words you do have to keep secret and safe) and you get all your Bitcoins and your entire transaction history back.

3) You can purchase this today (I have several).

4) Best and safest wallet on the market today.

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Jay Gatsby
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September 07, 2014, 10:41:02 PM
 #7

Not only do we need to make bitcoin safe to use, we need to make it extremely user interface friendly. Why was the iPhone so successful compared to all the other smart phones? It was simple and easy to use. If we can create a decentralized cloud, with cryptography to make the clouds annonimous, wouldn't that make it hacker proof?
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September 07, 2014, 10:51:01 PM
 #8

Most things in the world are, if lost from your possession gone for good, why does that need to change for Bitcoin?

Are you trying to keep Bitcoin as a storage of wealth more so than a medium of exchange?

Duplication of what "account numbers" is the best security. And eventually there will be some insurance type service (like credit cards) where unauthorized transactions can/will be reversed, which will minimize instances of blind theft.

No one is trying to make cash more "safe" why would they make Bitcoin more "safe"?

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September 07, 2014, 11:17:22 PM
 #9

Trezor is still rudimentary, pretty sure future versions will be slicker looking.
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September 07, 2014, 11:22:12 PM
 #10

Trezor is still rudimentary, pretty sure future versions will be slicker looking.
It is safe and secure, unhackable, has a small screen, two buttons, fits in your pocket, plugs into any USB port, easily recoverable if lost,  and works like a charm.  What more do you need?

Do you want to be able to select the color or something?

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Impros88 (OP)
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September 07, 2014, 11:24:06 PM
 #11

I don't get if tremor stores bitcoin online or in the device. If it stores btc online, in your account cloud, it is Exactely what I meant.

Guys, we need One simple device damn easy to be used by common people. One, not many to chose among. That makes things hard and common people want easy choice. Or better, they don't want even to think.
If we reached this goal we would see bitcoin jump a lot.
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September 07, 2014, 11:31:23 PM
 #12

here is an easy way to create very safe offline cold storage bitcoin wallets

http://cryptographi.com/products/piper

Impros88 (OP)
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September 07, 2014, 11:35:07 PM
 #13

ok i am reading about trezor right now. It is not exactly what I mean. I meant a device which makes the same things those apps for smartphone do now, which is store bitcoin, read qr codes and do transactions easily... but in an extreme secure and easy way. And for what I read trezor does need that you make your own backup... this is more than what common Joe can do.  
We need a device which connects to Internet and do a backup on its own in your personal account. There are several ways to make a account super secure, like 2 steps authentication or maybe even more.
We need a device you carry in your pocket, take out when you have to pay. A device which you only can use.
Maybe iphone 6 with fingerprint recognition and virus proof could serve the purpose? I don't have an iPhone so I don't know.

For what I see, now there are several devices, each one with a different purposes, pro and cons. We need One, good, which fits all roles. Cold storage but even easy and secure payments in the streets, at the supermarket. A thing where you can put all your bitcoin, feeling safe, even if you lose it, cause Noone but you will be able to use it. A password + fingerprint I think will be enough. Maybe add 2 steps authentication to restore the account if you lose it. But you need another device with authenticator. anyeay you should not think about creating backups or other things because it should do everything. When you buy it you will have to create an account where it will put backup of your bitcoin, in a very secure server. Is possible in 2014 to make a super secure cloud?
johncarpe64
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September 08, 2014, 12:19:25 AM
 #14

Terrible idea with the cloud. Plus, a hardware wallet already exists, its called Trezor.
It would be a bad idea for everyone to keep their private keys in one cloud service (centralized or not). This would create a single entity that an attacker would know that a lot of private keys are stored. Even if your private keys are encrypted the attacker would know that a lot of the keys are not.

What is a good idea is to store a backup of your private keys in the cloud (in encrypted format). The email address used to login to the cloud service should not be associated with either bitcoin or the fact that you personally use bitcoin. As long as various cloud services are storing the private keys, an attacker would have less of a potential reward by successfully attacking a single cloud service.
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September 08, 2014, 02:06:30 AM
 #15

Regarding to your idea about cloud, there are a lot of issues arising, such as security, usability, reliability etc. If you fear to lose the device, you can use the online wallet like blockchain.org, which has been the most popular and reliable so far.
Jay Gatsby
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September 08, 2014, 02:36:45 AM
 #16

Guys, we need One simple device damn easy to be used by common people. One, not many to chose among. That makes things hard and common people want easy choice. Or better, they don't want even to think.
If we reached this goal we would see bitcoin jump a lot.

The common people use credit/debit cards. Our one of many solutions is to make a smart wallet (in a shape of a debit card) to be used on current POS systems we have today. This is how we obtain mass adoption. The average person knows how easy it is to use a debit/credit card. Simplicity will obtain mass adoption. Look at the iPhone, the iPad, and why are they so popular? Its simple and easy to use. TREZOR is good, though for the average person, it will be confusing with the terms "cold storage" and even I am confused by how it all works. Its a good niche market. Though I feel that the average person wouldn't understand it.

The other option is to develop highly secure Apps for smart phone users. Though in the real world, who wants to pay at the terminal with their smart phone? It seems like too much of a hassle to grab your phone, open up the app, punch in your passwords, if in reality they could just pay EASILY with their debit/credit card with a quick swipe.

Its feels like an endless debate and we need solutions.
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September 08, 2014, 03:05:58 AM
 #17

 A debit card of some kind that is accepted all over the world would be great.Maybe i'll live long enough to see it. Cheesy
 
 
 
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September 08, 2014, 02:13:03 PM
 #18

Redundant idea is redundant.

The blockchain is already part of the cloud. It is the mechanism by which your bitcoins are stored in the cloud.

I don't use a Trezor, because I had already created a completely airgapped computer. But I get the concept. If you are incapable of copying 24 short words, and keeping these words around as a backup, hidden from others for all time, there is little hope for you as a human trying to survive in modern society. IOW, backing up a Trezor is trivially simple.

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September 08, 2014, 02:26:53 PM
 #19

if you remove all the buzz words like "cloud". and call the technology what it really is file hosting/remote data storage. and understand real life existant scenario's, you will see that ccloud services are not any better

EG
Apple celebrity photo leaks
blockchain.info wallet hacks
instawallet hacks
mtgox *cough* hacks

the op in his very first sentance had the right idea, although mis-spelled (don't worry we all mis-spell)

Quote
first problem is that bitcoin Exactely as cash is portable

meaning TREAT BITCOINS LIKE CASH

if you dont trust a family member or a stranger on the street to hold onto hundreds of bank notes, why in hell would you post it to a remote location where you have never met the owner of the service face to face


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September 08, 2014, 03:15:00 PM
 #20

yeah, a cloud. maybe the apple cloud  Grin ?

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