Topic: Public address complexity and economy of a coin - page 2. (Read 299 times)
This is sort of an alias which had been used in some platforms like bitshares and waves platform. Its going to help but will also be dangerous when it comes to scams. Impostors in crypto are very common because they know once BTC is sent it can't be disputed to be taken back.
Even "Theymos" was impersonated here in the forum along time ago when one impostor named himself "Theyrnos" looks very similar but really not. I think impostor successfully scammed some coins.
If we go to that line of thinking then banks wouldn't be successful right now. I'm talking about long bank account numbers (even the short ones), even I for a long time haven't memorize it until now so as other people I know who still look at the back of their credit/debit card and open there mobile bank accounts just to state their account numbers to me. If you think long and complicated Bitcoin addresses are the main obstacle for mass adoption then think again, remember we are in the digital age and most people I know just copy and paste their addresses rather than type it character by character, this alone eliminates your problem with long addresses. It may look like a steep learning curve for those who are still starting but it's actually easy and I think even the older generation who had accessed their bank accounts with their mobile phones would be familiar with the operations of a crypto wallet.
Already applied to it! Am gonna try and test out the waters since the idea seems pretty neat and cool. Most people would probably see a line of addresses and they'd get afraid of it since it looks quite a complicated code or something similar. Having this types of address should be user - friendly and should help people in accepting the existence of crypto and should help in adoption of it in the common masses.
Well, as far as i understand, it just creates a name for the address itself. The address is still a randomized code made and should still be inaccessable for the hackers. Besides, they already implemented a security plan for such events so lets just wait and see what happens.
of course its must be like that.
Do you want your address to be as simple as possible so that it's easy to remember? even for people who might be able to hack your address?
i just think, simple is not good for crypto, although I'm not a person who understands this, but there must be a separate purpose for why it's so complicated to remember.
well, if u want easy address, just using EOS blockchain btw, there just 12 alphanumberic for identity.
Do you want your address to be as simple as possible so that it's easy to remember? even for people who might be able to hack your address?
i just think, simple is not good for crypto, although I'm not a person who understands this, but there must be a separate purpose for why it's so complicated to remember.
well, if u want easy address, just using EOS blockchain btw, there just 12 alphanumberic for identity.
Well, as far as i understand, it just creates a name for the address itself. The address is still a randomized code made and should still be inaccessable for the hackers. Besides, they already implemented a security plan for such events so lets just wait and see what happens.
Your post reminded me the very first time I saw a Bitcoin address and tell you what I was actually shocked a little to see that long line of numbers and letters right before my eyes. Well, admittedly, I am used to the way PayPal is handling this thing which means you only need an email address and that's it. Yes, it could have been better if the address is shortened especially for those who are just new...definitely there is a perceived learning curve ahead of the user just looking at the address. Let's see how DigitalNames.io can be solving this problem. I am now looking at the site to see if this can be good for me too.
If the wallet address of every coin is more good and easier I think it would be more efficient to make transactions in each of every coin. And I think the adaptation will be more good because they will not take a hard time to memorize their wallet address. If we will have more easier wallet address that we can customized.
of course its must be like that.
Do you want your address to be as simple as possible so that it's easy to remember? even for people who might be able to hack your address?
i just think, simple is not good for crypto, although I'm not a person who understands this, but there must be a separate purpose for why it's so complicated to remember.
well, if u want easy address, just using EOS blockchain btw, there just 12 alphanumberic for identity.
Do you want your address to be as simple as possible so that it's easy to remember? even for people who might be able to hack your address?
i just think, simple is not good for crypto, although I'm not a person who understands this, but there must be a separate purpose for why it's so complicated to remember.
well, if u want easy address, just using EOS blockchain btw, there just 12 alphanumberic for identity.
Ok, do you think the complexity of public address affects the economy of a coin or a chain? For example, if bitcoin had an easy to remember the address, would it be adopted more readily? The same question is valid for ETH, of course. People are irked by complex addresses and one of the reasons old folks are not into crypto is because everything is too complicated, as they are not computer age people like us. They like it simple and I tend to think that simpler addresses would help them adapt, and improve the crypto economy.
Your post reminded me the very first time I saw a Bitcoin address and tell you what I was actually shocked a little to see that long line of numbers and letters right before my eyes. Well, admittedly, I am used to the way PayPal is handling this thing which means you only need an email address and that's it. Yes, it could have been better if the address is shortened especially for those who are just new...definitely there is a perceived learning curve ahead of the user just looking at the address. Let's see how DigitalNames.io can be solving this problem. I am now looking at the site to see if this can be good for me too.
Ok, do you think the complexity of public address affects the economy of a coin or a chain? For example, if bitcoin had an easy to remember the address, would it be adopted more readily? The same question is valid for ETH, of course.
Complexity of the address isn't the hindrance for adoption as in the first place we don't need to memorize the entire address just to make sure our funds were safe. And the more it gets complicated the more people feel safe and same goes with our password.
Or simply use QR Code. No need to deal directly with complex addresses.
That's the best way we could have done.
I do not think that this will greatly affect the mass adaptation.
The complexity of Bitcoin primarily consists in its use, and the duration of transaction approval.
The names of wallets, long or short, have little meaning, because as a rule, they are simply copied and inserted. The difficulty lies in the consciousness of people who are cautious about bitcoin.
The complexity of Bitcoin primarily consists in its use, and the duration of transaction approval.
The names of wallets, long or short, have little meaning, because as a rule, they are simply copied and inserted. The difficulty lies in the consciousness of people who are cautious about bitcoin.
There are many workarounds for this issue, for example, use a link shortener service like bit.ly etc., to shorten greenaddress' "permanent payment URL" service.
Hence: your short, easy to remember link -> greenaddress url -> bitcoin address.
Or simply use QR Code. No need to deal directly with complex addresses.
Hence: your short, easy to remember link -> greenaddress url -> bitcoin address.
Or simply use QR Code. No need to deal directly with complex addresses.
The more complicated the address is, the better security it gives to the owner and to the funds. Public addresses are perhaps not designed to just be a mere common word or something that could easily be remembered. I am not sure but since they are digitally generated and several millions and millions of it are being created, addresses will end up like the way we have now.
This is the truth. Making a public address easier would rather defeat the security of sending coins to others. Though it does make crypto look very complicated since addresses are randomly assigned. In fact, addresses are in no way conplicated as a user. If you were the programmer, then assigning random addresses to each would be confusing and hard but as a user, it ain't really that much different with passwords. On this case though, users are just required to save the said address so as to not lose it. Even if they did, they could just make a new one.
The more complicated the address is, the better security it gives to the owner and to the funds. Public addresses are perhaps not designed to just be a mere common word or something that could easily be remembered. I am not sure but since they are digitally generated and several millions and millions of it are being created, addresses will end up like the way we have now.
This a good initiative however its a bit scary if you are being targeted by bad actors they can see your consolidated crypto balance, I assume I'm wrong with my understanding about the concept of this project. Somehow I like this, it will add more convenience in sending and receiving crypto funds and could help prevent mistakenly sending crypto to wrong addresses.
I think for both newbie and regular user . Multiple complicated wallet address can be huge problem especially you need send out thousand or more worth of coin. I don't think anyone would like to send/lost their coin to wrong address so an easy to remember digital name could be very helpful in long term for everyone
Ok, do you think the complexity of public address affects the economy of a coin or a chain? For example, if bitcoin had an easy to remember the address, would it be adopted more readily? The same question is valid for ETH, of course.
People are irked by complex addresses and one of the reasons old folks are not into crypto is because everything is too complicated, as they are not computer age people like us. They like it simple and I tend to think that simpler addresses would help them adapt, and improve the crypto economy.
I found this site because a friend recommended it and all I did was enter my email and reserved a good name for myself. I am one of the people who missed the .com craze because I did not care to get a good domain name, although I could because I knew about it, now I am not gonna miss that one.
These things are first come first served, and usually (as in bitcoin), people who grab the good names first tend to get rich beyond belief.
So, what do you think? Can you beat me? My position =1, I am the number 1, the champion
People are irked by complex addresses and one of the reasons old folks are not into crypto is because everything is too complicated, as they are not computer age people like us. They like it simple and I tend to think that simpler addresses would help them adapt, and improve the crypto economy.
I found this site because a friend recommended it and all I did was enter my email and reserved a good name for myself. I am one of the people who missed the .com craze because I did not care to get a good domain name, although I could because I knew about it, now I am not gonna miss that one.
These things are first come first served, and usually (as in bitcoin), people who grab the good names first tend to get rich beyond belief.
So, what do you think? Can you beat me? My position =1, I am the number 1, the champion
Jump to: