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I guess this could work for those who don't really count their users as their primary assets (and would otherwise outsource authentication to Twitter or Facebook), but I don't really see this getting wide adoption among companies that are building and cultivating their own user bases.

It'd be curious to see how this will evolve and develop though, that's for sure.

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A number of people have mentioned this, so thanks for bringing it up here.

We're building a complete export, and use BCrypt for password hash storage. This means you can migrate off our service at any time (unlike Facebook & Twitter).

I built a service nearly identical to this (https://accthub.com) and that is one of the biggest issues we're trying to overcome as well.

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