Kraken letting BitGo GO

[pucksterpete]

From an email I just received from Kraken

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Hi Pete,

Before making your next bitcoin (XBT) or tether (USDT) deposit you must create new deposit addresses. Please do this as soon as possible - as of October 30 deposits sent to old XBT or USDT addresses will be delayed and may be charged an extra service fee.

Why do I need new deposit addresses?

As part of an upgrade to our wallet infrastructure, we are phasing out our integration with BitGo. This is not in any way motivated by a concern over the quality of BitGo’s service. We are simply moving bitcoin (and tether) to an alternative system that provides similar security benefits with multi-party signing. Migrating bitcoin to the alternative wallet system will help make our infrastructure more unified and easier to manage. Please note that “BitGo Instant” withdrawals will no longer be supported as of October 30.

What if I send bitcoin (XBT) or tether (USDT) to an old deposit address?

Old XBT and USDT deposit addresses are set to expire on October 30

Before October 30 old addresses will work normally. After the addresses expire deposits will still be credited but will be delayed and may be charged an extra service fee as follows.

Expired XBT addresses starting with “1” - no service fee

Expired XBT addresses starting with “3” - 0.25% service fee

Expired USDT addresses - 0.25% service fee

Note that the service fees above apply only to deposits sent to the old XBT and USDT deposit addresses after they expire on October 30.

Do I need to generate new addresses for anything other than XBT and USDT?

No - only bitcoin (XBT) and tether (USDT) are affected by the upgrade.

How do I generate the new addresses?

The new addresses are generated in the usual way.

Log into your Kraken account

Navigate to Funding > Deposit > XBT (or USDT)

Click “Generate New Address”

Thank you for choosing Kraken, the trusted and secure digital assets exchange.

The Kraken Team

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Edited October 26, 2017 by pucksterpete

[RJD]

Thanks for the reminder.

Great title, I saw what you did there 

[Guest]

Oh... and guess what - BitGo was the choice of wallet providers for Ripple... oh those Ripple guys... cutting / bleeding edge thinkers that they are!

I guess Kraken thinks BitGo technology sucks, as well.

:-)

Ripple needs very badly, a new approach to product engineering. It would involve specifications of requirements and corresponding detailed feature definitions, prior to implementation.

[pucksterpete]

https://themerkle.com/kraken-ends-partnership-with-bitgo-in-favor-of-alternative-solution

[pucksterpete]

On 10/26/2017 at 10:02 PM, Max Entropy said:

Oh... and guess what - BitGo was the choice of wallet providers for Ripple... oh those Ripple guys... cutting / bleeding edge thinkers that they are!

I guess Kraken thinks BitGo technology sucks, as well.

:-)

Ripple needs very badly, a new approach to product engineering. It would involve specifications of requirements and corresponding detailed feature definitions, prior to implementation.

now I believe your Vinni   :-)

[nikb]

On 10/26/2017 at 1:02 PM, Max Entropy said:

Oh... and guess what - BitGo was the choice of wallet providers for Ripple... oh those Ripple guys... cutting / bleeding edge thinkers that they are!

I guess Kraken thinks BitGo technology sucks, as well.

:-)

Ripple needs very badly, a new approach to product engineering. It would involve specifications of requirements and corresponding detailed feature definitions, prior to implementation.

[Amigo]

On 26-10-2017 at 10:02 PM, Max Entropy said:

Ripple needs very badly, a new approach to product engineering. It would involve specifications of requirements and corresponding detailed feature definitions, prior to implementation.

No, no, you keep mixing up things, that's Bitcoin. But it's a confusing landscape, it took me a while too ?!

While I do like your critical thoughts now and then, why are they so aimed in one direction? Don't you think your statement would apply way way better to many other crypto assets out there? I think Ripple is as good as it can get, including downsides maybe (maybe!), but at least there is firm group of guys, girls and investors behind it working with a roadmap, compared to so many other 'great idea yet stuck in getting it to a real usecase'-coins out there.

Edited October 29, 2017 by Amigo