Friday, June 23, 2017

Coordination failure

From a review of Trezor, a hardware wallet:

It might be convenient to keep Bitcoin on those online services since you can easily buy or sell. 
This line blew me away.  It is convenient to keep bitcoin in your friggen pocket so you an put it in someone else's pocket, as it it were exactly like cash.  Send it pocket to pocket, either over the internet or directly, no third party exchange needed.

Never in my wildest dreams did I think that 200,000 geeks would get the idea that transferring a batch of watermarked bits from me directly to you is somehow prohibited in the software world!  I have made this point every time.  If we are eliminating cash transfers, then the system is useless, you may as well eliminate the badly designed exchanges like Coinbase which is crash and hedge prone.

So, I have a message to young software geeks, do not listen to the bitcoiners, ask yourself, and I repeat for the 100th time, how foes one human transfer a sweaty cash to another person? Think hard, this is not a trick question.  Pretend you have, in your past, handed a wad of paper to someone, how exactly did that work?  Now, with that in mind, imagine that NFC is cellulose and bits are ink.  With only that change, how could you pass bits from one secure element directly to another?  

You are having a hard time with the obvious because your marketing and sales folks seem a little dense, ignore them.  Just close your eyes and pretend you have a bunch of NFC bits in your hand, ready to pass to your neighbor.  Focus on and, think, radio link layer, maybe? send and receive, maybe? Any of this ring a bell?

Think what happens when you ship 10,000 of these Trezor wallets and start getting calls, "How to I send cash from me to spouse?"  And your help desk has to talk about cash transfers that are not allowed to happen with wallets! Is you sales VP that stupid?

On the Trezor wallet, did those folks think that we use a USB plug to spend money?

I looked at the features.  Taking your Trezor wallet to Walmart did not seem to be one of them.  It is not a wallet, you idiots, that is a stationary vault and only works when plugged onto a PC having a USB port.  That is not a wallet, your VP of marketing is a liar and SOB.

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