

Benchmark Backs Bitcoin Secure Storage Provider Xapo - hendzen
http://www.bloomberg.com/news/2014-03-13/benchmark-backs-bitcoin-storage-provider-xapo.html

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thisiswrong
This article lacks so much information that it could just be said in one
Tweet. Are the 'reporters' at Bloomberg so scared to attempt getting into the
technical details ? A big of tech-insight would have been a nice read.

It's definitely interesting to note the phenomenal increase of money being
thrown at those innovating on the edges of bitcoin. The financial world are
starting to grasp the disruptiveness of the invention and now they want in.

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jchysk
From looking at their security, they're really going to need that insurance.

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kloncks
Care to elaborate?

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jchysk
The 4-digit PIN is pretty ridiculous, but just a quick look at their SSL
Ciphers and their HTTP headers shows they're less than what would be
considered best industry practice. Bitcoin-handling sites should exceed
industry standards when it comes to security. They also mention when
explaining how their vault works that they first receive Bitcoins and then
take the computer offline. The computer with the private keys should never be
online in the first place.

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kolev
Well, I think the strategy is: Invest in insurance, not in solid security.

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TheOneStandard
Inside sources: they only have $15m or so of insurance and it's all self
insured. Not nearly enough to cover what they claim as "fully insured".

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larrys
I'm curious how "xapo" is pronounced. Is it "zappo"?

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mpg33
think so

