Strongcoin vs blockchain bitcoin
This service is designed right from the start to be a scalable solution - it runs on a cluster of high performance Linux boxes, hosted on the Amazon EC2 cloud. This enables us to scale up to nearly any number of computing cores. We have tested this with up to 8-core computers, but more can be brought online if required.
Some of the wallet encryption formats are suitable for solving on GPU video card hardware. In these instances, we have hand-crafted highly optimized GPU software to provide huge speed advantages. The algorithms used to generate the password permutations are proprietary, but are designed to be flexible in order to handle unusual requirements.
The encryption used by the Bitcoin-core wallets is much harder to break than most encryption schemes. This is why an optimized, distributed, specialized program is required to attempt large numbers of brute force decryption attempts. We support hardware wallets such as Trezor and Ledger. We support brain wallets and BIP38 encoded wallets too. The full list is here.
Should you trust us with your wallet? If you send us your wallet, and we decrypt the password, then it would be possible for us to steal the money that the wallet holds. Fortunately, the design of the bitcoin-core wallet is such that you can send us just part of the wallet information. The part you send us allows us to decrypt the wallet, without giving us any opportunity to steal your money. See various detailed explanations on the bitcoin wallet design google them.
Refer to the wallets page for more detailed information. We would like to decrypt your wallet to recover your lost Bitcoin funds. Manage Edit Post Logout Login. The following was imported from my old blog. At 8am yesterday morning the funds were intercepted when the user made a payment. StrongCoin boasts that their service "only hold encrypted private keys", and that "neither [they] nor anyone else can spend your Bitcoins".
None of their advertised security features protected anyone in this case. They lied to all current and potential customers. Even if the operator of StrongCoin has a heart for the Bitcoin community, who is to say that the owner of StrongCoin would not take advantage of his position in a personal emergency?
Or if StrongCoin decided to serve "justice" to one who has been wrongly tagged by the community? It's apparent that StrongCoin really should not have been involved in this incident, or let it any of their customer's transactions be any of their business.
They voluntarily revealed that their service is just as useless as a shared wallet. MyWallet, also an online wallet, by Blockchain.
In late last year, Roger Ver abused his "admin" privileges at MyWallet to expose personal information of a customer he had a dispute against from his business, which was completely unassociated with Blockchain.
He gained these admin privileges initially from Ben Reeves, Blockchain. Roger Ver was able to look up accounts according to the addresses associated with them. From there, more information could be gathered looking up individual accounts.
Unlike StrongCoin, little damage was done in the aftermath. Ben Reeves decided that it was best he did not intervene with a dispute that was none of his business, and unlike StrongCoin's realm of wrong decisions, he also revoked Ver's administrative privileges. Better yet, MyWallet no longer has the ability to directly link addresses to accounts. There was no indication that Blockchain. It seems StrongCoin has better interests in playing world cop in the Bitcoin community than providing a secure service to the best of their abilities.