From: Mark Friedenbach <mark@monetize•io>
To: Peter Vessenes <peter@coinlab•com>
Cc: Bitcoin Dev <bitcoin-development@lists•sourceforge.net>
Subject: Re: [Bitcoin-development] Revocability with known trusted escrow services?
Date: Thu, 06 Jun 2013 11:18:26 -0700 [thread overview]
Message-ID: <51B0D272.5000304@monetize.io> (raw)
In-Reply-To: <CAMGNxUv7wkiUYZ2nZjOP0mEW7bgR0a+CXKyDPq38joU-fMMQ9Q@mail.gmail.com>
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If a technical solution could be found, I don't doubt that it will
quickly become the only legal way to do transfers in the U.S.
Peter, you are Executive Director of the Bitcoin Foundation. I would
like to know that your efforts are focused on fighting this archaic
world view, not bending over backwards to comply with it.
Mark
On 6/5/13 5:19 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
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next prev parent reply other threads:[~2013-06-06 18:18 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
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 [this message]
2013-06-06 22:22 ` Melvin Carvalho
2013-06-07 5:46 ` Caleb James DeLisle
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