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RE: BitShares Hangout #41 | 2017-10-07 | Sat @100PM UTC | OpenSource Agenda [Beyondbit Payouts Powered by SP!]

in #eos7 years ago

what u need is always have access to your password, thats essentially what is needed to access your account. In these days there are so many ways to access your password even if you forget, so if you are a forgetful person it is obviously advised to follow the instructions for instance using gmail to always have option to recover password. If you have no way to recover your password, you are basically lost, but it beats having to remember password and binfile both needed to connect, and is by far the bets solution out there.

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Well, then their statement is wrong as they say that there is nothing to write down. What is the meaning of this then? Not saying it's bad, just don't understand the practicality about it.

As of today you need:

  1. Your master password
  2. Your binary file OR your magic word sentence

With them you need

  1. Your master password
  2. A QR enabled phone
  3. A third-party service to rely on

Even though I've heard that even if they go down, you will be able to access the services, but it seems like a step in the wrong direction since BitShares and most cryptocurrency is so we don't have to rely on another party for accessing and managing our own money and assets.

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