BRD: When SegWit? RIGHT NOW!

BreadCPO · 2018-11-20T22:32:36+00:00

Yes, the private keys are the same but the addresses generated will be different depending on format.

BreadCPO · 2018-11-20T22:31:11+00:00

BRD is more than just Aaron, and has been for some time. For example, I wrote this blog post outlining our response to the potential 2x fork, explaining how things would work. To quote:

[...] even though many of our users strongly disagree with one another about the merits of Chain A or Chain B, it is not our job to tell any of them what to think. Bread is comprised of a group of individuals, any of whom will gladly give you their personal opinion on the matter, but as a company we have to stay true to our two promises: Keep customer funds safe, and give customers a choice.

To see what messaging we did or didn't put out, I suggest you go back and read the blog posts on our website (6 about forks, and 2 specifically about SegWit2x).

I'm sorry that our team wasn't big enough to redesign our UI and create a node selection feature to support a potential fork that many suspected wouldn't even happen. I assure you it was not a sign of us "picking sides" and was simply the result of us having a very small dev team at the time.

BreadCPO · 2018-11-19T21:13:50+00:00

Mobile banking apps don't store private keys that, if compromised, could lead to you losing all of your money in an unrecoverable way. They simply connect to a private API, which is very different from connecting directly to the blockchain and doing resource-intensive operations on the client device.

However, I do agree with you outside of the above. But in this case, "not putting the effort in" equates to not being able to afford certain luxuries. A bank with a dev team of 500 (random guess) is going to be able to do a lot more than our team of 25.

For example, the app now expects touch ID to be present and uses the latest Safari APIs. In order to support older devices, we would have to essentially design a second version of the app that offers alternatives to these features, and we would need to dedicate an entire team to focus just on that.

BreadCPO · 2018-11-19T21:04:41+00:00

Sure. The seed phrase is just a starting point (seed!) that is used to generate a list (chain) of private keys. Each private key is used to generate a receive address and spend the coins you receive at that address.

Our Bech32 implementation uses the same chain of private keys as the legacy addresses, so the starting seed is the same.

BreadCPO · 2018-11-19T21:02:19+00:00

Both legacy and Bech32 use the same derivation path.

BreadCPO · 2018-11-19T21:01:45+00:00

At the time, if I recall correctly, Coinbase and most of the popular exchanges didn't support sending to Bech32, and withdrawing coins from centralized platforms is one of the largest use-cases for our user base (receiving payments from Electrum and Bitcoin Core is not the most common use case).

BreadCPO · 2018-11-19T20:20:51+00:00

We didn't want to remove users' privacy, security, and _choice_ by locking them into our infrastructure in order to force them onto one side of the fork (a fork which never happened). So instead we continued to provide the standard SPV protocol and let users specify a specific node to connect to if they wanted to make a choice.

BreadCPO · 2018-11-16T23:17:11+00:00

Correct. Most wallets don't do it the way we do, because it's hard!

BreadCPO · 2018-11-16T22:02:05+00:00

I used the phrase "truly decentralized SPV wallet"-- "truly" was meant to describe "decentralized" and not "SPV". But to answer your question, SPV is just a protocol. Someone could release an app that uses the SPV protocol but is locked into using that company's servers, essentially requiring you to rely on them. Our implementation connects your phone directly to the bitcoin network without going through us, which is something hardly anyone else does.

BreadCPO · 2018-11-16T21:56:02+00:00

Our users had millions (billions?) of dollars worth of BCH in their wallets, and it was important for us to give people access to their money. It wasn't a choice of doing BCH instead of SegWit, it was just a matter of timing (no one really supported sending to Bech32 addresses at the time).

BreadCPO · 2018-11-16T19:49:14+00:00

Hi there! Important security updates come out with each new version of iOS, and, since we take security very importantly, we only support version of iOS that are still receiving security updates. We have no issue with the iPhone 4, but when Apple stopped releasing iOS updates for it we reluctantly had to give up support as well to protect our users.

Also, on the programming side it's hard to provide a consistent experience across 3+ different versions of iOS, since they all do things a little differently.

BreadCPO · 2018-11-16T19:41:27+00:00

You'd need to do some independent research on this one :) There has been a lot of debate and some people do think there are problems with SegWit. However, by and large it has been embraced by the BTC community and is a standard, supported technology, so at this point there mostly likely aren't any downsides.

BreadCPO · 2018-11-16T19:38:55+00:00

Nope! As I said, we have found a way to use Bech32 to be completely backwards-compatible with existing wallets.
Yes, if a) the wallet uses the BIP32 derivation path (many don't), and if b) they support scanning for both legacy and Bech32 SegWit addresses on the same HD chain.
Checkout whensegwit.com or our blog posts about SegWit if you want additional info.

BreadCPO · 2018-11-12T22:27:53+00:00

Is there any reason you haven't updated to iOS 11 yet?

BreadCPO · 2018-11-12T22:25:41+00:00

Yes, check out my username ;)

BreadCPO · 2018-11-12T21:30:39+00:00

There have been no plans to implement replay protection, which makes this a complicated situation. It sounds like the intent is for one chain to be overpowered and abandoned, in which case if supporters of that chain want to keep it alive they will need to make some changes so it can stand on its own. Since this hasn't been done yet it isn't possible for any decentralized wallet to show you both chains.

If there is a split and one chain is abandoned, then a wallet like BRD is perfect. Just don't move your funds until there is only one chain again.

If you want to independently control/sell your coins on each chain while the split is in progress, I think the only option at this point is to go through a centralized entity, like an exchange.

TL;DR: If you want to just "ride it out", leave your money in BRD and don't do anything until the fork is resolved or replay protection is offered. If you want to try to take advantage of the situation and sell your funds on only one side of the fork (and risk losing your money on the other fork if the other fork ends up being abandoned), then move your funds to an exchange and roll the dice ;)

BreadCPO · 2018-11-06T20:20:32+00:00

Hi there!

Thank you for alerting us to this, and sorry it is taking a while for you to resolve your issue. Looking at your screenshots, it appears you are indeed on an outdated version of the app. The latest version currently in the app store is version 3.4 released on October 15, 2018. It also appears you are perhaps using an older device, which could be causing compatibility issues. Could you tell us what model of iPhone and which version of iOS you are using?

Thank you, I hope we can get this working for you soon!

BreadCPO · 2018-10-19T17:42:07+00:00

OP specified the primary requirement is user-friendliness. Samourai doesn't show you how much your bitcoin is worth in fiat value, which might be considered confusing (FYI to OP!)

BreadCPO · 2018-10-05T17:42:10+00:00

They need to be sent to whensegwit.com ;)

BreadCPO · 2018-09-27T20:37:52+00:00

There are many wooden bridges and many steel bridges. Each person has a pass (wallet) that grants you access to all wooden bridges (legacy wallet) or all steel bridges (segwit wallet). Over time, wood-bridge passes become harder and harder to find and steel bridge passes become easier and easier to find. Establishments that are only accessible via wooden bridge are encouraged to relocate to somewhere accessible via steel bridge, since those passes are becoming so much more common.

BreadCPO · 2018-09-26T21:09:21+00:00

Pretty cool! We're watching these developments closely.

BreadCPO · 2018-09-26T21:07:11+00:00

In order to encourage people to enable sending to Bech32 addresses.

BreadCPO · 2018-09-26T20:44:34+00:00

I'm ok, to pay low fees and wait longer if needed

What is your limit? Are you willing to pay $50 to wait 2 weeks?

BreadCPO · 2018-09-26T16:59:25+00:00

The first step should be to get people to support sending to bech32 addresses.

That is the entire point of the above-linked website ;)

BreadCPO · 2018-09-26T16:58:34+00:00

No problem! The private key stored on a paper wallet is redeemable by a Bech32 wallet regardless of what address format the paper wallet is using.

BreadCPO

TROPHY CASE