Bitcoin Wallets
1 Reviews
Beijing, China

Neither Trustworthy Nor Secure

16% December 27, 2017 by DB

For some reason sites that are usually trustworthy like CoinDesk or the main (I think) page still promote it as a good wallet with advanced security features. It is neither. About a year ago I stored 2 BTC in bither when I was completely new to this, and I couldn’t send them to any other address. This fall I have had some sudden expenses where I desperately needed the funds, and so I checked into seeing if I could move the coins. As it turns out Bither is almost entirely unique as wallet structures go, and the common features such as bip38 have been limited to the point that a user cannot even access the keys. I spent three months trying to get my bitcoin back, which could have been worth 30k if successful- I even offered a public ransom of 0.1 BTC for anyone who could figure out the issue. Bither claims to be superior because the transactions are ‘decentralized’ (ie on a P2P network and not the Blockchain). This seemed great when I didn’t know better, but it’s cost me a lot of money and put me in a pretty terrible situation. I have been in contact with the developers and they are exceedingly rude and condescending. They either don’t grasp English very well or have a vested interest in failing to understand the situation. I turned over tons of screenshots and detailed descriptions of the issue (my coins show in the wallet but not on the Blockchain), and they were awful. I suspect that they either took my funds by masking transactions on their P2P network or that the underlying code is so unstable that they don’t know how to resolve issues like this. I’m suspicious about how honest they are, however, because people who are very public on social media with the same issue have somehow out of nowhere had the problem resolved (I contacted every person I could). I understand the principle here and know that electrum and bread are similar in principle. But the idea behind the Blockchain itself is decentralization and so I have become increasingly suspicious and resentful of things like Bither that claim moving away from the Blockchain is more secure. I hope they get shutdown and believe no one should trust them.