From: Alan Reiner <etotheipi@gmail•com>
To: bitcoin-development@lists•sourceforge.net
Subject: Re: [Bitcoin-development] Revocability with known trusted escrow services?
Date: Wed, 05 Jun 2013 20:34:55 -0400 [thread overview]
Message-ID: <51AFD92F.1020206@gmail.com> (raw)
In-Reply-To: <CAMGNxUv7wkiUYZ2nZjOP0mEW7bgR0a+CXKyDPq38joU-fMMQ9Q@mail.gmail.com>
[-- Attachment #1: Type: text/plain, Size: 3137 bytes --]
The two most basic ways would be simply:
(1) You create your transactions having a locktime of X days and has
sequence numbers such that it can be replaced exactly once. The
replacement, can be executed within 30 days.
(2) You simply send money to 1-of-2 transactions: me-or-you. If the
person who is receiving it wants it, they have to sign for it by sending
it to one of their own single-sig addresses. Otherwise, you can return
it to yourself at some point in the future.
I don't totally understand the goal, and how/if these solutions actually
achieve such goal. But it does add a way for transactions to exist a
non-final state for some amount of time. But in both cases,
accessibility is still binary: you have complete access to it, until
you don't. Which might be seen as the point of irrevocable transfer.
-Alan
On 06/05/2013 08:19 PM, Peter Vessenes wrote:
> So, this
> http://www.americanbanker.com/bankthink/the-last-straw-for-bitcoin-1059608-1.html?pg=1
> article got posted today, noting that FinCEN thinks irrevocable
> payments are money laundering tools.
>
> I will hold my thoughts about the net social good of rent-seeking
> large corporations taking money from consumers over fraudulent
> reversals. Actually, I won't, I just said it.
>
> At any rate, it got me thinking, can we layer on revocability somehow
> without any protocol change, as an opt-in?
>
> My initial scheme is a trusted (hah) escrow service that issues time
> promises for signing. If it doesn't receive a cancel message, it will
> sign at the end of the time.
>
> The addresses would be listed by the escrow service, or in an open
> registry, so you could see if you were going to have a delay period
> when you saw a transaction go out.
>
> This seems sort of poor to me, it imagines that mythical thing, a
> trusted escrow service, and is vulnerable to griefing, but I thought
> I'd see if some of the brighter minds than me can come up with a
> layer-on approach here.
>
> When I think about it, I can imagine that I would put a good number of
> my coins in a one day reversible system, because I would have warning
> if someone wanted to try and spend them, and could do something about
> it. I'm not sure if it gets me anything over a standard escrow
> arrangement, though.
>
> Peter
>
> --
>
> ------------------------------------------------------------------------
>
> CoinLab LogoPETER VESSENES
> CEO
>
> *peter@coinlab•com <mailto:peter@coinlab•com> * / 206.486.6856
> / SKYPE: vessenes
> 71 COLUMBIA ST / SUITE 300 / SEATTLE, WA 98104
>
>
>
> ------------------------------------------------------------------------------
> How ServiceNow helps IT people transform IT departments:
> 1. A cloud service to automate IT design, transition and operations
> 2. Dashboards that offer high-level views of enterprise services
> 3. A single system of record for all IT processes
> http://p.sf.net/sfu/servicenow-d2d-j
>
>
> _______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development@lists•sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
[-- Attachment #2: Type: text/html, Size: 6339 bytes --]
next prev parent reply other threads:[~2013-06-06 0:35 UTC|newest]
Thread overview: 10+ messages / expand[flat|nested] mbox.gz Atom feed top
2013-06-06 0:19 Peter Vessenes
2013-06-06 0:34 ` Alan Reiner [this message]
2013-06-06 1:06 ` Melvin Carvalho
2013-06-06 8:31 ` Peter Todd
2013-06-06 9:01 ` Leszek Rychlewski
2013-06-06 16:31 ` Jorge Timón
2013-06-06 9:03 ` Mike Hearn
2013-06-06 18:18 ` Mark Friedenbach
2013-06-06 22:22 ` Melvin Carvalho
2013-06-07 5:46 ` Caleb James DeLisle
Reply instructions:
You may reply publicly to this message via plain-text email
using any one of the following methods:
* Save the following mbox file, import it into your mail client,
and reply-to-all from there: mbox
Avoid top-posting and favor interleaved quoting:
https://en.wikipedia.org/wiki/Posting_style#Interleaved_style
* Reply using the --to, --cc, and --in-reply-to
switches of git-send-email(1):
git send-email \
--in-reply-to=51AFD92F.1020206@gmail.com \
--to=etotheipi@gmail$(echo .)com \
--cc=bitcoin-development@lists$(echo .)sourceforge.net \
/path/to/YOUR_REPLY
https://kernel.org/pub/software/scm/git/docs/git-send-email.html
Be sure your reply has a Subject: header at the top and a blank line
before the message body.
This is a public inbox, see mirroring instructions
for how to clone and mirror all data and code used for this inbox