Is it possible to create Bitcoin Cheques or Cupons.

[jza]

So the concept is simple, imagine I want to give money to someone that has no wallets nor bitcoin can I send them bitcoins that are reserved for whoever can come with a PIN code and an address. From that point, they will get the bitcoins needed.

The concept is similar to a Check, you technically don't have the money, nor even the bank account. But having that piece of paper, you can go to the bank where the cheque was issue, and recieve your money.

Since bitcoin addresses are NOT like bank accounts in the sense that the only proof of ownerhsip is the private key. The user would be able to just generate a key download the keys and start with a file-based wallet (or even paper wallet).


If this concept has been thrown around or  a service already does this, would be interested in finding more about it.

Regards.

[achow101]

So the concept is simple, imagine I want to give money to someone that has no wallets nor bitcoin can I send them bitcoins that are reserved for whoever can come with a PIN code and an address. From that point, they will get the bitcoins needed.

The concept is similar to a Check, you technically don't have the money, nor even the bank account. But having that piece of paper, you can go to the bank where the cheque was issue, and recieve your money.

Since bitcoin addresses are NOT like bank accounts in the sense that the only proof of ownerhsip is the private key. The user would be able to just generate a key download the keys and start with a file-based wallet (or even paper wallet).


If this concept has been thrown around or  a service already does this, would be interested in finding more about it.

Regards.

I don't think there is anyway to do this as of now. You could send the person a paper wallet but I do not think there is anyway to create a transaction that can be claimed by only one person if that person does not have an address.

[jza]

I don't think there is anyway to do this as of now. You could send the person a paper wallet but I do not think there is anyway to create a transaction that can be claimed by only one person if that person does not have an address.

Yes I understand, the point is the address will be generated on the cupon/cheque site (or service) on the spot. The authentication process could vary but this is sort of the process.

John want to get Peter involved with bitcoin, but Peter seems to get too confused by all that.
John has to pay peter for dinner. So instead of giving him the money,  and using that debt as an excuse. He is like, let me give you a Bitcheque to your email/sms/facebook/whatever.

So Peter sees:

 cheque from john for $15 bucks at 0.0620, claim the money here.

When he clicks, a new bitcoin address is generated and a 'transfer complete' to address...... with private key ..... and public key ... print your paper wallet here.

[achow101]

John want to get Peter involved with bitcoin, but Peter seems to get too confused by all that.
John has to pay peter for dinner. So instead of giving him the money,  and using that debt as an excuse. He is like, let me give you a Bitcheque to your email/sms/facebook/whatever.

So Peter sees:

 cheque from john for $15 bucks at 0.0620, claim the money here.

When he clicks, a new bitcoin address is generated and a 'transfer complete' to address...... with private key ..... and public key ... print your paper wallet here.

It would probably have to be a centralized service, and I don't think one exists yet. It may be possible to implement that into a client and have it become a feature of Bitcoin, but that would be difficult to do decentralized.

[jza]

It would probably have to be a centralized service, and I don't think one exists yet. It may be possible to implement that into a client and have it become a feature of Bitcoin, but that would be difficult to do decentralized.

Yes it could be a feature of the wallet, after all the only thing you are doing is holding a transaction until the new address is claimed. There is the question of what happens to those coins while is being held, can John touch those coins? Can they be transfered to the wallet temporary address until the transaction is claimed. There are different options on how to process them.

[achow101]

It would probably have to be a centralized service, and I don't think one exists yet. It may be possible to implement that into a client and have it become a feature of Bitcoin, but that would be difficult to do decentralized.

Yes it could be a feature of the wallet, after all the only thing you are doing is holding a transaction until the new address is claimed. There is the question of what happens to those coins while is being held, can John touch those coins? Can they be transfered to the wallet temporary address until the transaction is claimed. There are different options on how to process them.

You would have to trust that whoever generated the address (and thus privkey) that holds the coins doesn't spend them.

[TrueBeliever]

It would probably have to be a centralized service, and I don't think one exists yet. It may be possible to implement that into a client and have it become a feature of Bitcoin, but that would be difficult to do decentralized.

Yes it could be a feature of the wallet, after all the only thing you are doing is holding a transaction until the new address is claimed. There is the question of what happens to those coins while is being held, can John touch those coins? Can they be transfered to the wallet temporary address until the transaction is claimed. There are different options on how to process them.

You would have to trust that whoever generated the address (and thus privkey) that holds the coins doesn't spend them.

yes it involves an element of trust, just like a normal cheque.  a cheque is a promise to pay.  However the when the cheque bearer presents the cheque to his own bank to retrieve the funds, the funds might be spent, or might never have been sufficient in the cheque writer's account.

how to create this promise to pay concept in Bitcoin...

[jza]

You would have to trust that whoever generated the address (and thus privkey) that holds the coins doesn't spend them.

You can generate all that through a third party API, the wallet company doesnt have to generate the address themselves. something like this:
https://coinb.in/multisig/

Here you can create through javascript a multi-signature bitcoin address on the fly.

In our case, the process should be the same, and the address would be independent of the wallet. So trust is important, but that is pretty much applied to any online wallet, or service to do same kind of address generator.

[achow101]

You would have to trust that whoever generated the address (and thus privkey) that holds the coins doesn't spend them.

You can generate all that through a third party API, the wallet company doesnt have to generate the address themselves. something like this:
https://coinb.in/multisig/

Here you can create through javascript a multi-signature bitcoin address on the fly.

In our case, the process should be the same, and the address would be independent of the wallet. So trust is important, but that is pretty much applied to any online wallet, or service to do same kind of address generator.

But then how would the private key be stored until the receiver retrieves it? Someone has to keep it somewhere and that someone needs to be trusted to securely keep the private key.

[jza]

But then how would the private key be stored until the receiver retrieves it? Someone has to keep it somewhere and that someone needs to be trusted to securely keep the private key.

The private key gets genreated with the account and the rest at the moment the cheque gets cashed. Sort of speeak, until that time the money either still resides on the cheque owner  or on a temporary account provided by the wallet or as a sub-account from the owner.

So let say you have in your account:

BTC152, make a bitcheque for BTC1.

Your account will show 151 and a sub account with 1 bitcoin.

or

Your account will show BTC151 and the wallet will make a new bitcoin address under your wallet account for BTC1.

The user can either, cancel the cheque and the btc will go back to his main account. Or on the other scenario the pending trade just gets cancelled.

The cheque in itself is a script that retrieves a new btc account from a thirdparty, and execute the trade for that 1 btc to it. And generates all the necesary things like Qr code, paper wallet etc.

[jl777]

But then how would the private key be stored until the receiver retrieves it? Someone has to keep it somewhere and that someone needs to be trusted to securely keep the private key.

The private key gets genreated with the account and the rest at the moment the cheque gets cashed. Sort of speeak, until that time the money either still resides on the cheque owner  or on a temporary account provided by the wallet or as a sub-account from the owner.

So let say you have in your account:

BTC152, make a bitcheque for BTC1.

Your account will show 151 and a sub account with 1 bitcoin.

or

Your account will show BTC151 and the wallet will make a new bitcoin address under your wallet account for BTC1.

The user can either, cancel the cheque and the btc will go back to his main account. Or on the other scenario the pending trade just gets cancelled.

The cheque in itself is a script that retrieves a new btc account from a thirdparty, and execute the trade for that 1 btc to it. And generates all the necesary things like Qr code, paper wallet etc.

This would be possible.
Just make a onetime keypair, send BTC to that address and encrypt the keypair and send that to the destination.

Whoever is in possession of the keypair could redeem it.

With a bit of zeroknowledge magic and OT (oblivious transfer), it might even be possible to email an encrypted seed that is necessary to redeem, so that the sender wont be able to, only the one who has the encrypted keypair and able to get the email.

But it would be much easier if the destination had a pubkey that you can send normally to

[cr1776]

You could use something like changetip.com

No pin code, but it might suit some purposes

[jza]

I have check their website, and I dont really see how the process works. Seems it centralized and you need to get an account with them to receive the changetip which beats the porpouse of a decentralized account.

Like I mention before, generating a bitcoin address on the fly, and credit it with the tip, seems like the best alternative to a 'cheque', just like you dont need a bank account with the bank you are going to cash the cheque from.

I am interested how the pending tip gets managed, and how is the process regarding separating the tip from your account while at the same time waiting on the user to generate it's account.

Does the ammount gets charged by a changetip temporary account, or does it just gets charged on delivery.