Bitcoin is decentralized and your idea is totally centralized. This is the total opposite of what Bitcoin stands for. Social recovery? Trusted accounts? Isn't this totally centralized? And what will happen if one of the trusted accounts is gone and no one has access to that? How can you recover it later on? Locked HODL? We can literally do it right now with every existing wallet. Just put it in a separate wallet. Why would we need a centralized wallet service to do that?
It doesn't make sense to me. Either you are trying to scam people or you don't know the fact about Bitcoin. It is decentralized and it should remain decentralized. Decentralized was the key to Bitcoin's success. Why do you think other cryptocurrencies are struggling while having better features than Bitcoin? They are centralized.
So if you really want to do something about wallets, your idea should focus on Altcoins.
Topic: Bitcoin Smart Wallet (Read 75 times)
Time-locked hodl will definitely need the person to keep the funds in a "custody" even if the wallet isn't a custodial one, so that's worst actually. Bitcoin means freedom, so why should one lock their coins somewhere, that too for nothing? People who own BTC can stake their BTC and earn some % even if they lock it for a specific time, so I don't think they'll like this "lock for nothing".
Next, social recovery is shit and anyone in their sane mind won't ever trust anybody with even a penny worth of their money if we are talking crypto, because it's not 2010-11 period when people used to throw away their BTC like shit on the roads, now it's worth a fortune.
Next, social recovery is shit and anyone in their sane mind won't ever trust anybody with even a penny worth of their money if we are talking crypto, because it's not 2010-11 period when people used to throw away their BTC like shit on the roads, now it's worth a fortune.
We are building a wallet powered by taproot that empowers users to determine who, how, and when to spend their Bitcoin - improving its safety, recoverability, and unlocking new use cases like social recovery with trusted connections, inheritance, time-locked hodl, decaying multi-sig etc...
We would very much like to know your opinion on what features interest you the most.
Check it out and sign up for the waiting list if interested: https://www.smartvaults.io/
We would very much like to know your opinion on what features interest you the most.
Check it out and sign up for the waiting list if interested: https://www.smartvaults.io/
I personally don't trust wallet services like this that allow people other than the wallet owner to carry out various activities because initially Bitcoin wallets did not have features like this. If there is a wallet service that offers a feature like this, it means they have the same authority as the owner of the wallet and it means that the chance for the assets in the wallet to move out without the authority of the original owner is very high. It's best to avoid using a wallet service like this.
We are building a wallet <...>
JJudging by everything I've seen, it's not a wallet but a custodial wallet service.
And I believe there are several obvious red flags why no one should entrust their funds to your custody:
- According to whois records, your domain is 9 days old.
- You claim to have 6 years of experience even though no one has ever heard of you or mentioned you online.
- You claim to have 12 products built so far, but you failed to mention at least one.
- Your "About Us" section lacks any substantial information about the company, its team, or even the name of the owner.
- Your physical address: "1 Vanderbilt Ave, New York" is fake.
- There are no GitHub or other software code repositories available, so I assume that even if you "produced" something, it won't be open source?
You already have same topic open on this thread https://bitcointalksearch.org/topic/m.62641411 which you never replied on all the comments made. This is considered as spam since you open multiple thread with same topic.
Lock this thread or the other one to continue your discussion. Read the rules here before posting.
Lock this thread or the other one to continue your discussion. Read the rules here before posting.
"Social Recovery (Trusted connections can recover your bitcoin after a lock period, if you've lost access)"
This is a all round terrible idea.
There is no middle ground to self custody neither are there any debilitating complexities that comes with it. Having this as a feature means that you share custody to the Bitcoin that will be stored or have full custody and you software should be avoided
Using 'fancy' words like Miniscript, Taproot and Schnoor does not make your wallet any more appealing than other available options.
This is a all round terrible idea.
There is no middle ground to self custody neither are there any debilitating complexities that comes with it. Having this as a feature means that you share custody to the Bitcoin that will be stored or have full custody and you software should be avoided
Using 'fancy' words like Miniscript, Taproot and Schnoor does not make your wallet any more appealing than other available options.
We are building a wallet powered by taproot that empowers users to determine who, how, and when to spend their Bitcoin - improving its safety, recoverability, and unlocking new use cases like social recovery with trusted connections, inheritance, time-locked hodl, decaying multi-sig etc...
We would very much like to know your opinion on what features interest you the most.
Check it out and sign up for the waiting list if interested: https://www.smartvaults.io/
We would very much like to know your opinion on what features interest you the most.
Check it out and sign up for the waiting list if interested: https://www.smartvaults.io/
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