 Show Posts
|
|
Pages: « 1 2 3 4 [5]
|
Multi-signature addresses are like joint bank accounts, and are partially owned by each person who put forward a key to create it. When creating a multi-signature address, you need to specify how many of the owners need to sign to release the funds.
The Case for Multisig
You could set up an account between you and your wife that both of you can spend from, by creating a 1 of 2 address. This means: of the two keys used to create this address, a signature from only one party is required. Any money that was sent to this address could be spent by either party.
If you wanted to create a joint account, but wanted to approve transactions before the other person can spent money, you can create a 2 of 2 address. Of the two keys used to create the address, a signature from both is required. Both people who partially own the address can create unsigned transactions, and sign them with their own key, but without a signature from the second party, the transaction cannot go through. This could be the savings account you have with your wife, or maybe your wallet on another website. If one of you gets hacked, you still need the other to approve payments.
You can generate addresses with up to twenty possible signatories. So you could have a 5 of 10 address, where 5 people of the 10 need to agree on where the funds are going. This is pretty arbitrary until you find a purpose for your address.
One of the interesting cases is a 2-of-3 signature address, which allows for funds to be safely locked in escrow. If two people wish to perform a transaction (like purchase of goods, or services), but both parties fear that the other might not be trust-worthy, they can elect a trusted 3rd party as a signatory. If either party reneges on the agreement, the third party can create a transaction paying the money to the deserving party. About MultiSig and how it works. |
|
|
|
i don't think we need a highly trusted escrow for small deals :)though i accept any  You just made my day.  |
|
|
|
|
Guys, I'll be happy if you try the safest escrow - MultiSig transactions (free). Thanks.
|
|
|
|
|
Only two offers for lifetime free MultiSig escrow left.
|
|
|
|
Sorry, I was busy and couldn't reply earlier.
Serge was very patient and comprehensively answered all my questions. Entire process went smoothly. Thank you for giving us such trustworthy escrow. I will use this service for my future trades.
Thank You for feedback. |
|
|
|
Can not find trusted person for LTC escrow, some not response, others: Hi, I need your escrow. I want to sell 60 LTC for 200 VISA USD.
Hi sorry I don't deal with alts. Escrow completed, funds successfully released. Thanks for using our service, hope You assessed the security of MultiSig transactions and will recommend us for others. |
|
|
|
Which Tox version is better for installing (win 8.1)?
Try uTox (light version) or qTox (full Qt client). |
|
|
|
I know that with multisig I don't need to trust you, but I have some questions regarding escrow procedure. Which is the best way to contact with you?
Hello! Don't hesitate to ask any questions here, in the thread. You can also chat me via Tox (check my Tox ID and send friend request to me). |
|
|
|
Exactly. Using a standard well trusted escrow agent is much easier...
Easier. MultiSig for those, who likes always keep under control own money. |
|
|
|
your newbie and want to make escrow?
How do You think, can newbie perform MultiSig escrow (or show me who provide such service)? I started this thread with aim to show the people that with MultiSig transactions they don't need to trust anybody, bitcoin protocol gives more higher level of security than can provide any trusted escrow. |
|
|
|
Actually, with MultiSig, some kind of escrow possible and without third party (I can help to prepare transaction). Let me quote Satoshi about 2-of-2 escrow transactions: The basic escrow: The buyer commits a payment to escrow. The seller receives a transaction with the money in escrow, but he can't spend it until the buyer unlocks it... If the seller doesn't send the goods, he doesn't get paid. The buyer would still be out the money, but at least the seller has no monetary motivation to stiff him.
The buyer can't benefit by failing to pay. He can't get the escrow money back. He can't fail to pay due to lack of funds. The seller can see that the funds are committed to his key and can't be sent to anyone else...
|
|
|
|
Sorry but this is much more complicated than usual escrow services imo.
Only 3 commands in bitcoin/litecoin-qt console for the end user. This will give absolute security for paranoid clients with round sum. For small tx or for those people who trust me, I can propose usual escrow service. |
|
|
|
No use in multisig if 2 of the 3 parties (the escrows) are not trusted.
Dear users, in the role of the 2nd escrow agent can be anybody you trust, he will need for additional safety of Your funds, for releasing the coins (I will instruct how) in case if something happen with the 1st agent and when You can't contact with him (or dispute situation). If You don't need additional level of security, choose 2-of-3 scheme (with one escrow). Anyway, one trusted usual escrow agent is not better than 2 untrusted MultiSig escrow agents. |
|
|
|
|
Do not miss! Be the one of the first 3 clients who will get lifetime free escrow service. Proposition actual until February 01, 2015.
|
|
|
|
Update. Stay away from such knows "MultiSig escrow services" that generate address only from own keys, this is not safe, because full responsibility of Your funds lay on the service. Only with the escrow agent, that generates MultiSig address from your public keys, You don't need to trust to the third party! |
|
|
|
if you "know" where "he" lives then you are somehow associated with him. What would stop you from colluding with one party and releasing the funds to that party inappropriately?
I can propose You 3-of-3 (with one escrow agent) or 3-of-4 (with your 2nd agent) escrow scheme - this will protect "from colluding with one party and releasing the funds" in 100%. |
|
|
|
So you mean, both escrow agents are yourself and you'd essentially have complete control of the 2-of-3 transaction?
I am not associated with the 2nd agent in any way, we live very far from each other. He will need only if something happen with me or dispute situation. If You don't want to trust him, You can propose Your 2nd agent or choose another escrow scheme (3-of-3 or 2-of-3, etc.). P.S. Also he will replace me when I'm offline (I can't be online 24/7), in this case I will play the role of the 2nd agent. Nobody can't have complete control of 2-of-3 transaction, 2-of-3 means that for releasing the funds from MultiSig address is required 2 of 3 signatures - one from the escrow agent and the other from the buyer or the seller. Complete control of the transaction always has usual escrow agent. |
|
|
|
Greetings Community! I would like to offer You the most reliable escrow service based on bitcoin protocol – multi-signature transactions. Was found that existing such services are still complicated for most people, so I decide to help You with each step and use only standard wallet. You can choose 3-of-3 / 2-of-3 scheme with one escrow agent, or even 2-of-2 - without (!) any agents, actually, almost any (15 max) m-of-n, where m - is a number of required signatures (private keys) for releasing the funds and n - is a total number of involved people (public keys). Main Features:- No need to trust each other or any sites. Stop worrying about agent trust score! You can easy verify the correctness of MultiSig address and final transaction.
- Built-in protection from fraud, hacking and
thermo-rectal cryptanalysis physical compromising. Nobody have access to the funds, including the escrow agent. Coins can be released from MultiSig address only when the buyer, the seller and the escrow agent checked and signed the correct transaction (voted). - Protection from losing if one of the parties will disappear. When choosing 2-of-3 escrow scheme, two parties will be capable to release the funds without third party.
- Protection from disappearing of the agent. In case if something happen with me, you will be able to contact with the 2nd escrow agent to finalize the transaction (he will keep a copy of my key).
- Instant releasing of funds from the escrow. Are You still waiting for the escrow agent to come on-line and release Your funds? Choose 2-of-2 or 2-of-3 escrow scheme and do it without him!
- Reliable purchase/sell (also applicable for accounts) and loan with collateral escrow schemes.
- Encrypted communication. For easy and instant communication, we will use skype-alternative secure p2p messenger Tox (1). End-to-end encrypted messaging with ProtonMail (2). PGP key (3).
- Does not require any special knowledge. I will support You until escrow completed.
- No need to download the full transaction history and keep the wallet synchronized. You will need the full version of a client for creating MultiSig address and for signing the final transaction. For this purpose, You can use even offline wallet!
- BTC, LTC, PPC, NVC & 42 support. Depend of Your requests I will add more coins in the future.
Below You will find in signed message my and 2nd agent Tox IDs and my pubkey. To verify this important data, open Your wallet application and go to File -> Verify message.AddressBTC : 14ZijW8ruBAKKYEehkuVHD29ne14ZhiQ14 LTC : LNnfziSgyqQNaLvosttnZE5uzrNLerv43g PPC : PC9ttUXhx6eWJNuR3qE1x6zRQPAweE8eQ4 NVC, 42: 4HGYcNXAacsKs1MLu7a3ADCSpg4cEvyV4m Message1st agent/Serge V.: Tox ID 25AFA2F787DD955FBF7AFC1FB0F3B6ED3040FE020891476F754777F01ECE936ECDBE0FAF1C1B, Pubkey 0371164947e9ad918c29eb3fa7ff4d9bfa6d8554a08ae4e3389643f6d9e05a411f; 2nd agent/valeo-2: Tox ID 5F793F4947DC5D55288E6DC5320874C36B7102DD4594779D17C7EC113C27783E0A9BA23035F8. September 15, 2014. BTC : IJ1kTxhdDlhwuAhQVI6qWVlvF4hen3sHe6wQiF+R3uDjKu40Cf9GArxkPOXzFHSHyLo+cVDu+sLQqM3OWi86zts= LTC : H7EqqW8zmFU7+8us6El7EPRGBo+3eP1542XniZvW6wlYRcWzr2bVPWjY9zEiKZGsQFVRld2TrjlzI9HnDuRDA38= PPC : IHPDdeKLbMQ3n8t/GAV5vWU064SWpFbDBqMj0FPu4qmfi80Ju62MguTracTr4jpHgw+btVxtBpasJ84+IQEfrSQ= NVC, 42: INXpAeXwQf2Lt0ZfC6yo3knY5edPmmjsy6PfETAfoVoIX+s6jpISlDpglgsoe1h+Io1MHOP1lE9c9QHZmC/s9aY= -----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA512
1st agent/Serge V.: Tox ID 25AFA2F787DD955FBF7AFC1FB0F3B6ED3040FE020891476F754777F01ECE936ECDBE0FAF1C1B, Pubkey 0371164947e9ad918c29eb3fa7ff4d9bfa6d8554a08ae4e3389643f6d9e05a411f; 2nd agent/valeo-2: Tox ID 5F793F4947DC5D55288E6DC5320874C36B7102DD4594779D17C7EC113C27783E0A9BA23035F8. September 15, 2014.
-----BEGIN PGP SIGNATURE-----
Version: Keybase OpenPGP v2.0.43
Comment: https://keybase.io/crypto
wsBcBAABCgAGBQJV9xCgAAoJEHBy1xRUXutvTWcH+wXj4BHTIpcA7F1nx1imTBBp
rK0pguxMuvcMm+l3wQ7K/dusHxP+B29x2ws2iq2NqU4aAGRiIJ/h1K0/o2v12U/Y
dAzugoCrdQnA5DgHdxMhOwDBN4oFlPGeVxDo4yIepLEn4rS+OsHCNvrJY+8OzMQh
5IqA/uQPOOvpmfXNsAs4dYVzWSaoMzgXwyZE04TOFkdFR8iEMU9z6rljMDg7yNYA
iiY0rOVCBoT6E+1CUQNk+cghNYOgaqIeuBQfWxT1EOArArI86syZSHMm4YrJbEOe
W+3fw7FfvQndpIX+FIH7EWTJmU40Xrvp1hiBYdP8H0shgEIA65q/Mbl07wkuHQo=
=nYbe
-----END PGP SIGNATURE-----Notice. Before we start the escrow:1. Check that You have installed the latest version of the full BTC (LTC, PPC, NVC or 42) wallet application.2. If You would like to use Tox, please make backup of “tox_save.tox” file (located in Win 7-10: C:\Users\UserName\AppData\Roaming\Tox), it contain Your unique Tox User ID. I will not accept Tox ID change during the escrow process.3. The current FEE for the MultiSig escrow is 1% but not less than 0.005 BTC (or equivalent) and 0% for the regular escrow (sum under 0.5 BTC).Caution! Stay away from such knows "MultiSig escrow services" that generate address only from own keys, this is not safe, because full responsibility of Your funds lay on the service. Only with the escrow agent, that generates MultiSig address from your public keys, You don't need to trust to the third party! |
|
|
|
|
