Coinbase releases iPhone app | Hacker News Reader

Coinbase releases iPhone app

itunes.apple.com

One thing that I dislike about native apps over web apps is there is no way to tell how securely credentials are being passed over wifi or a mobile network. With websites you can make sure the connection is HTTPS from the browser and be pretty sure no one who can sniff your network traffic can see what you're doing.

I'd hope that in this day and age every native app, especially those of a banking nature, is using HTTPS where appropriate but (without sniffing your own network) there is no way to tell.

Early comments:

"Can't actually send money from this app"

"I can't add funds or send anything."

https://itunes.apple.com/us/app/id588530550?mt=8

Perhaps Apple felt they were circumventing the "only payments via Apple" rule?

Well, that's the way it goes. Apple won't approve bitcoin apps that are actually useful.

Is this real? There's no mention on their blog:

http://blog.coinbase.com/

Pulled from the App Store in 3, 2, 1...

why?

Apple has rejected every app that has anything to do with Bitcoin (aside from graphs and stats) thus far.

Examples:

http://www.bitpak.com/?p=34

https://blockchain.info/wallet/iphone-app

http://bitcoin.stackexchange.com/questions/5386/why-isnt-bit...

http://www.forbes.com/sites/jonmatonis/2012/06/13/why-apple-...

The Coinbase app doesn't allow trading, so I don't really see the issue. That's what they've objected to in the past.

no they objected to the entire idea of bitcoin as an 'intermediate currency'

There's a lot of similar apps on the app store that let you view accounts / exchange rates, just not take part in transfers. It seems they are allowed, just not ones that allow trading.

Then why was it accepted in the first place?

Edit: I know they've redacted apps after release plenty of times in the past, but it clearly involves bitcoin and they clearly have a stance on that, so chances are good that it was a calculated decision.

Even though I use Coinbase for buying/selling, I would not trust them to store my moderate balance of Bitcoins.

Their hot-wallet dependency and my storage of coins at a central location simply does not give me enough assurance my coins will be safe there for a significant amount of time.

What are you talking about? Coinbase proudly explained their internal safety precautions, explaining that most of their coins are stored in a cold wallet, not hot wallet.

I should have stated I don't trust my coins in the hands of others.

Bitcoin, unlike other currencies are irreversible. You have one, and only one chance to keep them safe.

I rather be content with the loss of Bitcoins in my possession, _knowing it was my fault_, than losing them to a thief holding Coinbase's staff at gunpoint for the offline wallet's private keys.

I trust Coinbase with a small amount of coins. Similar to how no one walks around with all of their USD as cash in their wallet, it makes sense to only fund an mobile app/third-party wallet with enough bitcoins for convenient spending. Long-term savings should be stored encrypted and offline.

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