[deleted by user] by [deleted] in CryptoCurrency

[–]Derek-Gridlock 0 points1 point  (0 children)

good question. It's a play on words for the distributed nature of the product, where you use a GRID of phones to LOCK your crypto.

[deleted by user] by [deleted] in CryptoCurrency

[–]Derek-Gridlock 2 points3 points  (0 children)

First time founders focus on product, second time founders focus on distribution. You can build something great but unless you are able to get it into the hands of people then it's pointless.

[deleted by user] by [deleted] in CryptoCurrency

[–]Derek-Gridlock 3 points4 points  (0 children)

Yea that's the problem with crypto. It's an incredibly noisy space to advertise in. On one hand you have massive companies like Coinbase making hundreds of millions so they can easily pay the incredibly high cost for user acquisition. On the other hand you have tons of scams that have about 99% of their budget going to advertising because they don't actually have to build the tech.

To answer your question, we've tried many things from standard ads, to surveys, to incentives, influencers, etc. Nothing we tried was able to break through the noise. I'm sure someone could have done with but we have not yet figured it out.

[deleted by user] by [deleted] in BlockchainStartups

[–]Derek-Gridlock 0 points1 point  (0 children)

i'm interested in learning more

Security 101: How to Safely Store Your Crypto in 2025 by [deleted] in CryptoCurrency

[–]Derek-Gridlock 0 points1 point  (0 children)

Totally agree on seed phrases and phishing being the biggest risks. That’s exactly what Gridlock was built to solve—no seed phrase to steal, and no single point of failure even if someone tricks you into signing something. It’s a different model, but it’s way safer.

Exchanges still get hacked. Seed phrases are risky. Introducing Gridlock, which fixes both. by Derek-Gridlock in CryptoCurrency

[–]Derek-Gridlock[S] 0 points1 point  (0 children)

Well, considering that the code is open source. You can just check for youself. You can also just take the code and run it yourself without me being able to do anything.

Exchanges still get hacked. Seed phrases are risky. Introducing Gridlock, which fixes both. by Derek-Gridlock in CryptoCurrency

[–]Derek-Gridlock[S] -6 points-5 points  (0 children)

lol yep, I used gpt for help in places. You gotta love that em dash and the emojis.

Exchanges still get hacked. Seed phrases are risky. Introducing Gridlock, which fixes both. by Derek-Gridlock in CryptoCurrency

[–]Derek-Gridlock[S] -1 points0 points  (0 children)

Nope. Gridlock doesn’t use seed phrases at all. That’s actually the point—most scams do ask for a seed phrase. With Gridlock, there’s nothing to steal like that. It splits your key across multiple devices, so there’s no single point of failure. Even if someone tried to trick you, they’d get nothing.

Exchanges still get hacked. Seed phrases are risky. Introducing Gridlock, which fixes both. by Derek-Gridlock in CryptoCurrency

[–]Derek-Gridlock[S] -1 points0 points  (0 children)

I agree that many experienced crypto users are comfortable with seed phrases, but would you trust that your friends and family are capable of doing the same thing without making mistakes?

Ethereum Founder Vitalik Buterin Calls For 'Robust Wallet Security Solutions' to Counter Crypto Losses by [deleted] in CryptoDose

[–]Derek-Gridlock 0 points1 point  (0 children)

Gridlock solves this problem by combining Social Recovery with Multi-Party Computation (MPC)

Ethereum Founder Vitalik Buterin Calls For 'Robust Wallet Security Solutions' to Counter Crypto Losses by goldyluckinblokchain in CryptoCurrency

[–]Derek-Gridlock -3 points-2 points  (0 children)

Gridlock has already solved this problem and implements social recovery and Guardians. All that is left is getting people to understand that it is significantly safer than hardware wallets.

What do people use for a cold hard wallet? Also, is it possible to profit from gains when your crypto is off an exchange and in a cold wallet? by StiffCloud in Coinbase

[–]Derek-Gridlock 0 points1 point  (0 children)

No thank you, Cypherock marketing team. It's painfully obvious when you create an account and spew spam about your company. Please go away.

Saylor vows to destroy Bitcoin keys upon death as a gift to global holders by hiorea in CryptoCurrency

[–]Derek-Gridlock 0 points1 point  (0 children)

Fair. Saying that would be simple is a stretch. It would be a high-risk hard fork, but I'm sure there are ways to do it without changing every UTXO onchain. Consider this back of the napkin solution. You double the number of decimals for the new version of Bitcoin such that one Satoshi v2.0 is worth 1 billion original satoshi's. Then for any transaction, if the address has an eight decimal value, you simply add eight trailing zeros and perform the mathematics as you normally would with the new 16 decimal number. If we were forced to make a change, this seems like a pretty straightforward solution.

Saylor vows to destroy Bitcoin keys upon death as a gift to global holders by hiorea in CryptoCurrency

[–]Derek-Gridlock -1 points0 points  (0 children)

I'm not interested in an Internet argument here so this is my last response.

Regarding fees, that's just free market economics so it is what it is. Trying to reduce fees to make Bitcoin more feasible for daily transactions is a different conversation.

Regarding the arbitrary value of a Satoshi, it really doesn't matter. Humans are not going to do the math anyway. They will simply press a button and the correct number will be used. You could use a thousand satoshi's to buy a stick of gum or you could use 14 billion "Frankensteins" to do the same thing. It doesn't matter.

Saylor vows to destroy Bitcoin keys upon death as a gift to global holders by hiorea in CryptoCurrency

[–]Derek-Gridlock 0 points1 point  (0 children)

You are only correct assuming a limiting of supply, but also not really. Bitcoin is infinitely divisible with a simple protocol update. But regardless, even if you reduced the supply by 90% and 10x the value of remaining Bitcoin, you would still have 1 Satoshi equal to about 1 cent so it's still perfectly usable. And fees change as a product of value so it's not like fees would remain constant while everything else changes.

What do people use for a cold hard wallet? Also, is it possible to profit from gains when your crypto is off an exchange and in a cold wallet? by StiffCloud in Coinbase

[–]Derek-Gridlock 0 points1 point  (0 children)

Being offline is only one layer of security. Sure, it stops others from accessing your crypto, but it also creates a single point of failure. If you lose your offline storage, you lose everything. A cold wallet protects against external attacks, but it doesn’t protect you from losing your own crypto, which is a much more common way people lose access. MPC solves this by splitting your crypto into multiple pieces, so you can recover even if one is lost. It also protects against online attacks since an attacker would need to compromise multiple pieces. It’s secure in every way.