[ZS] Microsoft Research on Bitcoin

[R|diger Koch]

Moving thread to zs-business:

2012/7/10 Lodewijk andri de la porte <l at odewijk.nl>

>
> I want to do green addresses, addresses from which one can be sure it is a
> valid transaction. If an address exists at third parties it is completely
> unreliable what happens to the Bitcoins on them. I'm not sure it makes
> sense as my service is as safe as it's going to get. Why should I let uses
> risk themselves? There's some argument towards additional freedom, I
> couldn't completely freeze their accounts.
>

Precisely. Nor can the government or an intruder, provided the keys are
encrypted on disk. I don't see how users risk anything if you provide a "*Print
backup"* option - no trojan can steal a letter in the safe. You might be
glad one day if you get raided by "authorities" or broken in.

Since this'd help only those I'm legally required to blockade it's low
> priority if not zero priority.
> What I can do is let private keys be submitted and empty them instantly,
> towards a safe address. But I don't really see why people wouldn't just
> send them towards themselves.
>

Well, I can. For example users can come to Fikisha office in Lagos and buy
a printout of a Mini (Casascius) key for cash, which they can fax to the UK
or the EU, for example. At Intersango or MtGox, they can redeem that key.
I'd very much like it if those keys can be redeemed in more ways.*



> This is how I'd redeem tokens or Casascius coins. It's a low priority
> addition compared to some other things I'm doing.
>

I'd understand it if it were only Casascius coins. After all who in his
right mind is buying an expensive coin to redeem it shortly after. If
Bitcoin price hike continues, this may also be an interesting feature.

Cheers
Anu


* They'll be able to redeem it at Fikisha, but that only makes sense if
they get 2nd thoughts about the transfer

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