[wplug-internet] In coin base who holds the wallet?

[Pat Barron]

All I can say is, I disagree with the idea of prioritizing the ability 
to process BTC / LTC via a standalone wallet, over the ability to 
process traditional currency transactions, and BTC / LTC via an exchange 
like Coinbase (which I believe would more than meet any need we would 
have to process any cryptocurrency transactions, in the short term).  We 
have limited resources, and we have to prioritize those resources 
towards things that will provide us with maximum benefit, right now.

That being said, the idea you're advocating will certainly be in the 
project plan, and if someone has a particular interest in implementing 
that functionality, we'd be foolish to tell them to stop.  ;-)  But it's 
like any other project - we (the Technology Committee as a whole, along 
with anyone else who is interested in participating) will look at the 
list of things we want to accomplish, the timeframe in which we would 
like to accomplish them, and the resources we have available to work 
with, and together we'll figure out what the priorities should be.

--Pat.

On 12/17/2014 7:31 PM, John Lewis wrote:
> Just because Linode and the Government isn't agile isn't an excuse to be
> even less agile then they are.
>
> If you can't see the advantage of having a little support of crypto
> currency and not be totally depandant on a bank like coinbase you need,
> in my opinion need to get your eyes checked, because BTC is inclused in
> the future of 60 percent of US based businesses and organizations
> http://bitcoinexaminer.org/bitcoin-future-stategies-60-us-organizations/.
>
> The time to plan to be ahead is when we are revamping our infrastructure
> like we are now. We should plan to be ahead so we aren't playing play
> catch-up. We should think forward now or we will be just like the
> company I work. They are still wondering why they are losing ground
> because they didn't think ahead far enough.
>
> On 12/17/2014 06:21 PM, Pat Barron wrote:
>> The point Justin is making, I think, is that use of cryptocurrency is
>> only useful to us to the extent that we can use it to our benefit.
>> Traditional businesses like the USPS and Linode may not be very agile,
>> but at this time (and, IMHO, for the foreseeable future) those are the
>> only kinds of entities we would need to transfer any funds to for any
>> reason - and those entities only deal in fiat currency.  (Though in all
>> honesty, I wouldn't be surprised if Linode started accepting BTC at some
>> point, just because...)  So whatever kinds of cryptocurrency we may
>> hold, we'll need to go through some kind of exchange anyway in order to
>> use it for anything that we actually need.  Coinbase is nice in that
>> regard, due to the ease of automating transactions and converting them
>> to/from fiat currency.
>>
>> We can certainly work on BTC/LTC options for donations and such, as part
>> of the overall member / payment portal project (for which I'll be
>> sending out an overview of the work that's needed, in the next few days,
>> in case anyone is interested in joining in the fun...), if there's a
>> good way to automate use of a wallet that we'd hold ourselves.  Though I
>> personally think the priority should be put on Stripe, since that's the
>> option that is most likely to be useful to the largest number of people.
>>
>> BTW, I decided a while back to get out of the Ð market entirely - it's
>> fun, and I've learned a lot about cryptocurrencies - but there's little
>> practical utility.  I have about Ð1600 that I'd be happy to donate to
>> WPLUG, which at current exchange rates I think is worth about $0.28 in
>> US Dollars.  ;-)
>>
>> --Pat.
>>
>>
>>
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