Coyne, web apps and bank of america discussed on The Changelog

The Changelog
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Automatic TRANSCRIPT

And so that's that's always been our motivation is is stats the security side of of disc right is the security of users funds want to make sure that people can actually fulfilled the promise of bitcoin which is uh you know people sometimes say biran bank right that you can actually keep custodial control of your own your own private keys your own bitcoin and you can have as much security as you can manage right so assuming you have uh well put together operational security practices using things like hardware wallets or air gapped computers or you know whatever it is you deem appropriate to secure power for many bitcoin it is you have you have that full control you have four capability and now the disc application never never maintains control it never has the opportunity to steal your funds because a never holds your funds it's just between you and your counterparty essentially a couple of questions break off of this the first one it gets perhaps speculative a little bit with regards to exchanges being hacked and uh in a the the analogy between a cryptocurrency exchange having custodial control over your wallet or you're you're really your keys at that point now in order to have access to trade that coyne is very similar to banks right like you said own bank well with a echoing base or a bit stamp maury mountain goss or whatever year allowing them to be your bank to a certain degree and that's problematic and like you said the more honey that's in the pod the more attackers are going to come after those things i guess my question be why don't we have more has no historical banks being hacked like our bank of america and our first national and like of course putting us in an american context but they are very literally banks and they have online presence as and they have web apps and so why is everybody going after bitcoin exchanges and not after places where you can get cold hard cash is because of low oil does leave it there and say so what you're saying.

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