Re:A Major Coinbase Milestone: 1 Million Consumer Wallets
by MichaelGG on Thursday February 27, 2014 @02:31PM
(#7314379)
Yeah, we'd hope they have some serious M-of-N key system in place to safeguard access to the wallets.
The biggest thing that gives me pause about Coinbase is their decision to use MongoDB. There may be a reason, but I certainly can't find one. Their use case is perfect for proper, old-fashioned, reliable RDBMS. They've also had a fair amount of customer service issues, including "we rebooted and our job queues didn't run anymore" problem where they tried to rip that guy off.
Even so, the security of the offline wallet is so important, you'd think their investors will have insisted on some auditing and third party implementation. Maybe some of the big wallets are even partially held by outside people.
The biggest thing that gives me pause about Coinbase is their decision to use MongoDB. There may be a reason, but I certainly can't find one. Their use case is perfect for proper, old-fashioned, reliable RDBMS. They've also had a fair amount of customer service issues, including "we rebooted and our job queues didn't run anymore" problem where they tried to rip that guy off.
Even so, the security of the offline wallet is so important, you'd think their investors will have insisted on some auditing and third party implementation. Maybe some of the big wallets are even partially held by outside people.