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RE: Account model, Wallet model and Security on the DEX part 1 of 2
Good post. And here lies the double edged sword. Ultimate security and sovereignty over your digital assets comes at the cost of absolute responsibility. I think it would be worth bringing up with any future core dev team whether to include some compromises in the wallet model to allow general population a "forgot my password" function. What do you think?
"Forgot my password" automatically implies that it also exists (or can be reset) with a 3rd party/centralized entity. It pretty much defeats the whole purpose.
Keeping your private key safe has been the key (pun intended) instruction for ALL crypto since the beginning. There is some confusion because bitshares' wallet also functions as an exchange(and centralised exchanges have their own auth mechanisms with 2FA and reset functionalities etc. but they do it by virtue of holding on to the private keys.
I think the system as it stands is great. What is lacking is some "ease of use" features / abstractions. For example a Trezor multisig equivalent for bitshares for people needing more security....Or a suggestion to print out your PKs and keep copies in hard form in safe locations etc.
Good response and I agree. My thought is that perhaps there's a way to accommodate the 5 billion people who are not at this moment willing/capable to take total control and responsibility. Perhaps there is a way to have a similar ease of use feature a la a third party gateway with a degree of centralization for people who want to opt in to handcuffs and want a Coinbase like experience.
You seem to be going the other way and I think I agree with you. We should focus on making it easier for people to take responsibility and not enabling them to take the easy way out.
I think technically OL does that with their AirBitz integration.
Not my preference but it definately fills the gap you're referring to.
Oh I did not know OL integrated AirBitz thanks. My first principle is discretion and individual sovereignty. If people want to be at the mercy of a centralized third party company they should be able to do so. They have to deal with that set of tradeoffs though. And no one better force me to use something like that.