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Title: Face-to-Face trade without electronic devices is possible? Post by: d5000 on March 26, 2013, 11:56:04 AM Hi,
Are there safe methods to sell bitcoins as an OTC face-to-face trade (Bitcoin for cash) without the obligation for the seller to bring an electronic device? Perhaps with some sort of one-time transaction codes from a third party or something similar? Thanks and sorry for my bad English! d5000 Title: Re: Face-to-Face trade without electronic devices is possible? Post by: RaTTuS on March 26, 2013, 12:01:16 PM only along the lines of my word is my bond - you have to trust the other party
Title: Re: Face-to-Face trade without electronic devices is possible? Post by: tkbx on March 26, 2013, 12:01:21 PM You could give them a Mt. Gox code, but this would require lots of trust, because I believe a code can have as little as 0.00000001 BTC in it. To confirm the code, one of you would need a computer.
Title: Re: Face-to-Face trade without electronic devices is possible? Post by: malevolent on March 26, 2013, 12:03:36 PM Hi, Are there safe methods to sell bitcoins as an OTC face-to-face trade (Bitcoin for cash) without the obligation for the seller to bring an electronic device? Perhaps with some sort of one-time transaction codes from a third party or something similar? Thanks and sorry for my bad English! d5000 Brainwallet for cash. Title: Re: Face-to-Face trade without electronic devices is possible? Post by: bowen151 on March 26, 2013, 12:10:22 PM You would still have to verify the balance of a code coupon or physical coin so you would probs need some sort of mobile device with internet access.
Title: Re: Face-to-Face trade without electronic devices is possible? Post by: d5000 on March 26, 2013, 01:40:34 PM Thank you for the answers.
I had thought of a system with two or more transaction codes, like this: - Seller sends BTC to an escrow. - Escrow creates a wallet with the BTC and gives the seller a code that is part of the complete code to access the wallet ("Seller Code"). - Escrow confirms buyer funds have been sent and gives buyer an "incomplete" code, which contains some of the characters of the seller code ("Buyer Code 1") and an additional code to complete the code ("Buyer Code 2"). Complete access code: 1A4RD67U95YUX Seller code: 1A4RD67U9 Buyer code 1: _A_RD6_U_ ("incomplete seller code") Buyer code 2: 5YUX - When trade is realized, seller gives the Seller Code to the buyer for cash. - Buyer can test the code to be valid with the "Buyer Code 1" and seller can't scam the buyer changing the code, because he doesn't know which characters were transmitted to the seller. - Seller cannot access the wallet because he would need the additional code ("Buyer Code 2") which only the buyer knows. Too complicated? Or is there some escrow offering something similar? Title: Re: Face-to-Face trade without electronic devices is possible? Post by: Dabs on March 26, 2013, 02:29:59 PM Escrow = third party. Localbitcoins offers such a service, and there are individuals who also offer escrow services.
There has to be at least one device that can check the block chain. Ideally, both of them, so they can both independently confirm and verify the transaction. You could just have a friend with a bitcoin client a phone call away, but that means the same thing, just done remotely. Title: Re: Face-to-Face trade without electronic devices is possible? Post by: lebing on March 26, 2013, 02:31:21 PM cascascius coins
Though remember, without internet, there is absolutely no way to confirm the coins hit your address regardless of which method you use. Title: Re: Face-to-Face trade without electronic devices is possible? Post by: d5000 on March 27, 2013, 12:24:46 PM I have just realized that with an escrow involved there would be no need for any "transaction code", because the escrow could inform the buyer that funds have been sent to it before the transaction, and seller afterwards only needs to confirm that the buyer has paid.
I think this could work for me, for now. |