MultiBit User's Loss Highlights Need for New Bitcoin Wallets

MultiBit User's Loss Highlights Need for New Bitcoin Wallets

The developer of popular bitcoin wallet MultiBit is battling a wave of criticism this week after a user suggested that a bug in the software rendered his bitcoins inaccessible. Reddit user 'wetseals', who asked us not to reveal his real name, said that he transferred 0.5225 bitcoins into his Multibit wallet from his Blockchain wallet, hoping for a more secure form of offline storage. Wetseals planned to use the wallet to help sell multiple Starbucks gift cards to chatroom users of the online power site SealsWithClubs, and set up 550 separate bitcoin addresses for that purpose, he said. He....


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Cash-Strapped MultiBit Developers to Charge Transaction Fee

MultiBit is one of the unsung heroes of the bitcoin world. The desktop bitcoin wallet software, launched three years ago, recently surpassed 1.5 million downloads and, in fact, Gary Rowe, one of two core developers on the project, puts the estimate at more like 1.8 million this month. Now he and development partner Jim Burton are about to start charging tiny fees for using it. One of the things that must have helped MultiBit a lot was being listed on bitcoin.org. The wallet is one of five desktop wallets listed on that site, and is outpacing at least some of them. CoinDesk reached out to....

MultiBit Bitcoin Wallet Leapfrogs Coinbase to Reach 1.5 Million Downloads

Bitcoin wallet provider MultiBit has passed an important milestone - its one millionth download. In fact, since nobody was actually keeping track, their one-million milestone came and went without anyone noticing and the current figure is much higher. When the MultiBit team was recently asked how many downloads had occurred since launch, they crunched a few numbers to reveal that the wallet had in fact been downloaded a total of 1,517,000 times since April 2011. The team pointed out: "The figures have been adjusted down to take into account various DoS attacks and are based on the overall....

Quotes

Yes, [we will not find a solution to political problems in cryptography,] but we can win a major battle in the arms race and gain a new territory of freedom for several years. Governments are good at cutting off the heads of a centrally controlled network like Napster, but pure P2P networks like Gnutella and Tor seem to be holding their own.

Satoshi Nakamoto, Bitcoin Developer