Author: Eric Martindale 2014-04-07 14:15:15
Published on: 2014-04-07T14:15:15+00:00
The developer evangelist of BitPay, Eric Martindale, believes that the user experience of running Bitcoin needs to be made simpler in order to encourage more users to take part. Currently, he says, exchanges such as Coinbase and Bitstamp are winning the user experience battle but they technically endanger the user and by proxy the Bitcoin network. Multi-signature authentication (multi-sig) is a start, but it won't succeed unless the user experience is simply better than trusted third parties. Martindale's opinion is that we need to start the education process with the very basic fundamental: trusting a third-party with full access to your Bitcoin is just replacing one centralized banking system with another. Meanwhile, Mike Hearn expressed concerns over the safety of Bitcoin after Mt Gox's collapse and suggested that people who refuse to use Bitcoin properly could kill it off before it ever gets a chance to shine.
Updated on: 2023-06-08T18:53:00.948780+00:00