From the website: "In fact, you can report a theft to our security team and the coins in question will be deactivated, leaving the crook with goods that are flagged as stolen. For a nominal fee, we’ll even transfer the value of your stolen coin to a replacement coin and send it out to you."
Woah, hold up. So you're saying that you can control the usage/activation of the bitcoin from your homebase there, Titan?
Pardon me, but that's a little frightening that at any time you could change your mind and simply deactivate all the Titan coins out there and buy yourself an island somewhere.
Woah, hold up. So you're saying that you can control the usage/activation of the bitcoin from your homebase there, Titan?
Pardon me, but that's a little frightening that at any time you could change your mind and simply deactivate all the Titan coins out there and buy yourself an island somewhere.
I thought the 2FA requirement would queue everyone in to the centralization of this system.
@OP Good idea, bad implementation? Seems that way a little, you're basically selling bitcoin IOUs instead of actual bitcoins.
I totally see your point. We didn't decide on this particular implementation lightly. With any product, saying yes to one benefit often means saying no to another.
For new bitcoin owners, the ease of use is the biggest hurdle. Email registration is something that is familiar and easy to understand. We ARE working on a more advanced, decentralized solution, but innovation takes time
Fortunately for us, the benefits of these coins seem to outweigh the drawbacks for many.
