MadBitcoins interviews Micah Winkelspecht from Gem #BitcoinMiami 2015

Here's a summary of the MadBitcoins interview with Micah Winkelspecht from Gem, based on the provided transcript:

1. Main Topics Discussed:

• Gem's Multi-Signature API: The core focus is on Gem's offering, which provides a multi-signature API for developers to easily implement secure Bitcoin wallets.
• Security and Custodial Risk: The interview highlights the risks associated with custodial Bitcoin services (exchanges, etc.) and how multi-signature solutions mitigate those risks.
• Industry Adoption of Multi-Sig: Discussion revolves around the slow adoption of multi-signature technology within the Bitcoin industry, despite its benefits.
• Proof of Reserve: Gem's system allows for a "proof of reserve" model, where users retain control of their funds and the company doesn't possess them.
• Lessons from Past Hacks: The interview references past Bitcoin exchange hacks (BitStamp, Mount Gox) as catalysts for the need for improved security.

2. Key Quotes:

• "We're providing all those same security features except without ever taking possession of funds." - Micah Winkelspecht, explaining Gem's unique approach.
• "The question has just been you know if and when or mostly just when right to have a whole list of other priorities." - Micah Winkelspecht, on the industry's adoption timeline.
• "If you're holding other people's private keys, you're holding their money. You're responsible for their money if you lose it if it's hacked or stolen. Your fault so and now there's no excuse because we make it so easy to implement." - Micah Winkelspecht, emphasizing the responsibility of custodians.

3. People Mentioned:

• Micah Winkelspecht (Gem)
• Mad Bitcoins (Interviewer)
• Individuals involved with BitStamp and Mount Gox.

4. Bitcoin Price:

• No specific Bitcoin price was mentioned in the transcript.

The interview took place at the Bitcoin Miami 2015 conference and emphasized the importance of multi-signature technology for securing Bitcoin funds and the need for wider adoption within the industry.