Meet CoinOS on Monday, August 26, 2 PM PST/5 PM PST \ stacker news ~AMA

Meet CoinOS on Monday, August 26, 2 PM PST/5 PM PST

11.2k sats \ 35 comments \ @Bell_curve 25 Aug AMA outlawed

zaps forwarded to @coinoswallet (49%) @adam_coinos_io (49%)

CoinOS is my favorite wallet for beginners

https://coinos.io/ Telegram: https://t.me/coinoswallet

Cole /coinoswallet and/or Adam /adam_coinos_io will answer your questions on Monday, Aug 26, starting at 2 pm PST.

Ask your questions on Sunday and Monday morning before 2 pm PST.

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121 sats \ 2 replies \ @duuv 30 Aug

What is the maximum number of sats you can have, receive amd send?

21 sats \ 0 replies \ @adam_coinos_io fwd 11 Sep

there's no hard cap. in practice we only keep a certain amount of funds available in our server hot wallet for immediate withdrawal. that amount fluctuates day to day but we try to keep at least 0.5 BTC available most of the time.

0 sats \ 0 replies \ @Bell_curve OP 30 Aug

great question

121 sats \ 1 reply \ @jinformatique 30 Aug

@adam_coinos_io I had a question, would you consider doing a package for Start9, so for plebs running a Start9 node they could easily host your solution? https://docs.start9.com/0.3.5.x/developer-docs/packaging

21 sats \ 0 replies \ @adam_coinos_io fwd 11 Sep

yes, that's high on our list!

121 sats \ 2 replies \ @0281a010ce 30 Aug freebie

Where are the username and password credentials stored? In the browser locally or remotely on a server?

21 sats \ 0 replies \ @adam_coinos_io fwd 11 Sep

they are sent to our server and the password is encrypted at rest in our database using the bcrypt hash algorithm.

0 sats \ 0 replies \ @Bell_curve OP 30 Aug

coinOS has a telegram channel also

131 sats \ 2 replies \ @sasasuina 25 Aug

Hi Coinos team, I registered a few days ago and found your platform to be very user-friendly. I really enjoy using it!

I have a question about your revenue model. It's crucial to have a sustainable revenue stream. The website mentions that "Over 500 businesses worldwide are accepting bitcoin with Coinos." Do you plan to charge a fee for this service?

41 sats \ 1 reply \ @coinoswallet fwd 26 Aug

We actually have almost 600 businesses using us now because word is spreading very fast how easy and beneficial it is to use our wallet. Our revenue model is small, and that's how we want to keep it at this time to expand our user-base. We want people to resort to using us first, which is happening more and more. Since we're a web-app without needing to download from any app store, it makes the onboarding process so much easier. Our fees are the lowest in the world (0.1% conversion fee only when you withdraw from Coinos to an external onchain Btc or liquid wallet). You do not incur any fees from Coinos is if you withdraw from Coinos to an external lightning wallet.

31 sats \ 0 replies \ @adam_coinos_io fwd 26 Aug

Yeah and I'll add this isn't a "if you don't pay for it then you are the product" kinda deal, we just really want more people to use Bitcoin and are giving away Coinos as an essentially free and open source service to contribute to spreading adoption.

231 sats \ 1 reply \ @anon 26 Aug

Is it true most businesses that accept Bitcoin HODL!

31 sats \ 0 replies \ @coinoswallet fwd 26 Aug

Yes it is true! 75% of the business owners using Coinos to accept Bitcoin/Lightning/Liquid as a payment option are HODLING. Since we've been onboarding businesses, it's been orange pilling more and more people!

121 sats \ 1 reply \ @k00b 26 Aug

If you could change one thing about bitcoin to make it better for @coinoswallet, what would it be?

21 sats \ 0 replies \ @adam_coinos_io fwd 11 Sep

I'd like to see one of the covenant proposals get activated

121 sats \ 1 reply \ @k00b 26 Aug

What percentage of your users are businesses?

What's the biggest complaint that businesses using Coin OS have?

21 sats \ 0 replies \ @adam_coinos_io fwd 11 Sep

We don't know exactly because businesses register with just a username and password like everyone else.

The biggest complaint we hear is that not enough people are coming in and spending bitcoin so we're trying to think of ways to incentivize more people to do that.

121 sats \ 1 reply \ @k00b 26 Aug

What's something you believe about bitcoin that few bitcoiners believe?

21 sats \ 0 replies \ @adam_coinos_io fwd 11 Sep

I'm not sure on this one..

121 sats \ 3 replies \ @grayruby 26 Aug

I have yet to try your wallet yet but I see it is often used by businesses. Is that your primary target market or is it meant for everyone?

71 sats \ 2 replies \ @adam_coinos_io fwd 26 Aug

We focus a lot of our outreach and marketing towards businesses because we think getting grass roots adoption at the mom and pop retail level is one of the most effective ways to promote Bitcoin but yeah Coinos is for everyone, lots of people use it as their personal spending wallet.

221 sats \ 1 reply \ @grayruby 26 Aug

I like that you are pursuing small business in promoting the wallet. There are tons of wallets for the plebs. It could be a nice niche for you guys. I owned a small business for many years. Sold it a couple years ago. Eventually I will start something up again and will definitely take bitcoin as a method of payment.

71 sats \ 0 replies \ @coinoswallet fwd 26 Aug

Sounds good! Let us know!

110 sats \ 3 replies \ @Bell_curve OP 26 Aug

I’m impressed that you support liquid. You created Aqua wallet before Aqua!

Is liquid popular with your current user base?

31 sats \ 1 reply \ @adam_coinos_io fwd 26 Aug

Yeah Liquid is great! It gets a bad rap for being custodial but being federated means it's a more secure form of custody than most single-company custodians and it's pretty private.

0 sats \ 0 replies \ @Bell_curve OP 27 Aug

Privacy Lower fees Fast confirmation

31 sats \ 0 replies \ @coinoswallet fwd 26 Aug

Liquid is not the most popular right now with our users, Lightning is. I was just with the Aqua team and Willy Woo yesterday in person in Vancouver at an event I was a speaker for. Willy Woo endorsed us & recommended to the Aqua team that they partner with us in some way. Since Coinos has the auto-withdraw feature, it's very beneficial for users & merchants to use Coinos as the front man, and set up their Coinos auto-withdraw to withdraw in to their Aqua wallet.

10 sats \ 0 replies \ @Bell_curve OP 26 Aug

forgot @benwehrman

100 sats \ 6 replies \ @Bell_curve OP 26 Aug

@adam_coinos_io @coinoswallet

Who is the smartest person you have met?

@k00b usually asks this question

21 sats \ 3 replies \ @k00b 26 Aug

Sorry, I always forget about these delayed question/answer threads. We'll have to have CoinOS back for a regular live AMA soon.