From: bgroff@lavabit•com
To: "Gavin Andresen" <gavinandresen@gmail•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] [PULL] Add scriptPubKey enforced sendescrow and redeemescrow API calls
Date: Wed, 22 Jun 2011 16:44:38 -0400 (EDT) [thread overview]
Message-ID: <11814.46.19.138.242.1308775478.squirrel@lavabit.com> (raw)
In-Reply-To: <BANLkTikP-VheXQyXikH6jvaqnWfH_cNjnw@mail.gmail.com>
Gavin wrote:
> It would be spiffy to publish a new type of bitcoin address that is an
> "m of n address", that anybody could pay into, but would require m of
> n signatures to spend. Publishing a really really long address with
> all n public keys would work.
Here's a strawman use-case for a browser centric flow for a 2-of-3 scenario.
Funding:
* User is on Merchant site on the checkout page
* User selects a transaction Observer (I'm trying to get away from using
the word escrow, because the funds are not held by the third party)
* Merchant redirects to the Observer, passing in the Merchant's payout
address
* The User enters User's address
* Observer presents multisign address
"2,merchant-addr,user-addr,observer-addr" and terms and conditions - i.e.
under what circumstances the Observer will sign
* User copy/pastes the multisign address to their bitcoin client and sends
funds
* After some blocks go by, merchant ships
Redemption:
* Merchant reminds User to release funds
* User creates a partial tx paying out to merchant-addr and emails or
copy-pastes to Merchant
* Merchant signs and publishes the tx
Funding requires two pastes and redemption requires one. A browser
plug-in would reduce the User effort to a couple of confirmatory clicks -
"do you want to send X BTC to Merchant Y with Observer Z?" and "do you
want to release X BTC to Merchant Y?".
--
Bobby Groff
prev parent reply other threads:[~2011-06-22 20:44 UTC|newest]
Thread overview: 11+ messages / expand[flat|nested] mbox.gz Atom feed top
2011-06-16 4:53 bgroff
2011-06-22 13:24 ` Mike Hearn
2011-06-22 13:42 ` Mike Hearn
2011-06-22 16:01 ` bgroff
2011-06-22 14:08 ` Gavin Andresen
2011-06-22 14:49 ` Mike Hearn
2011-06-22 15:32 ` Gavin Andresen
2011-06-22 16:02 ` Mike Hearn
2011-06-22 16:23 ` bgroff
2011-06-22 19:33 ` bgroff
2011-06-22 20:44 ` bgroff [this message]
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