The best form of wallet security is a password. Uh yea, that's why 2FA is in place on all major exchanges, and they take no responsibility for users not using 2FA.
You sound like someone arguing that horses are fine, we do not need automobiles.
When in reality the problems CryptBit is addressing are real problems. Better security, cloud backups, crossing borders, the risks of holding crypto on local machines only.
How many of those scam ico's you invested in have things like libsec and POS3? And establish masternodes at the start to ensure a robust community and network?
The best form of wallet security is an encrypted wallet. Cloud storage is not security, it's backup. There's a big difference. If you want to cloud backup a wallet, encrypt it and put it on dropbox.
Anyway, what do I know? I'm just some random guy on the internet, like the devs who want you to entrust your crypto to their software.
You really are missing the point. The idea of storing dat files on dropbox is stupid. Dropbrox gets crawled for dat files. A cloud account with 2fa or biometric access requirement is completely different. Repeating your horse argument does not make it any more correct. Just search the forum for the phrase "my wallet got hacked. "
It's not stupid to store dat files on dropbox if they are encrypted with a strong password. So what if dropbox gets crawled for dat files. If the password is good, then the dat file is useless.
You rely on encrypted communication every day. All banking transfers are communicated with encrypted packets, and the least of the banks worries are packet sniffers trying to intercept those transactions.
2fa is merely a second password. The security is approximately additive: a clueless user's shitty password + a reasonably strong ever-changing pseudorandom password = a whole lot better than the shitty password alone.
In the end it comes down to the strength of the password and the ability of the user to protect it.
This coin claims that you are better served to give up your authentication to these anonymous devs. It's craziness and anyone who buys into it is either hoping against hope for a pump, or has no idea what security is.
