Looking for people to store some of the forum's money

[ShadowAlexey]

I have dedicated linux laptop on raid1 with encrypted partition and multiple wallet offline backups.
I may store any amount required for free, and they will be always on a single bitcoin address.
PM me if required.
May just save your encrypted wallet file if u need.

[DeathAndTaxes]

After some more thought, i dont want to be part of any m of n. Last thing i need is for a large amount of btc to go missing, and i own a private key. Put me down as someone who would just take responsibility for a small amount of coins.

Ack, that's a good point. If you have an m-of-n, and some money is transferred, you can't usually tell who revealed the key parts. You would just know that it's some m of those n people. That might provide enough cover and plausible deniability for some of them to conspire. Nice catch.

What?   The multi-sig transaction would need to be signed by the m keys that authorize it. So if there is an unauthorized transactions transferring the balance of the coins to address xyz it WILL be signed by "m" keyholders and that will provide both the guilt of the keyholders and involved and exonerate the keyholders not involved.

On edit: I see you were referring to a key sharing vs multi-sig.  Yes secret sharing should not be used for this type of structure (where accountability is required).  Multi-sig provides higher security and accountability.

[DeathAndTaxes]

Not all companies gamble with funds they don't own...

All companies are a gamble in the sense that businesses can (and do) fail even for legitimate reasons.  As someone who would directly benefit from low cost funding I am still against it.  Forum funds shouldn't be used to invest in third party companies either as debt or equity because they weren't donated for that purpose.

[Jouke]

Well, just to prevent another bitmarket from happening, I don't think using the storage funds to invest is a smart move.

Not all companies gamble with funds they don't own...

The funds would be kept in a way that it could easily be checked by the public.

Yes, and the only way would be to placing the funds in a public Bitcoin address where the contents would be publicly verifiable.

Exactly.

[casascius]

...This is contrary to the forum's otherwise decentralized structure...

...this is the forum's money, not mine, so you'll have to know what "the forum" is and in exactly which circumstances you can release the money...

What exactly is the forum anyway, legally speaking?  I assume this must be a reasonable and legitimate question if you're drafting a contract with "the forum" being one of the parties.  Is the forum a legally registered entity of its own, or is it someone's property?

[yogi]

Maybe what you need is a bitcointalk board of trustees. Where their responsibility's include collecting, storing and distributing of the bitcointalk funds.

[Herodes]

So, was there any conclusion to this ?

[theymos]

I'm still writing the contract. I don't have a lot of time to work on it.

[sublime5447]

I'm still writing the contract. I don't have a lot of time to work on it.

Give the excess coins back to the people who donated them. Have them pledge the coins for forum use when needed. I am very interested to see what happens with this issue it will determine how much (if any) that I donate to the forum. 

[payb.tc]

people such as pirateat40 also donated to the forum

do you want theymos to send 50 BTC to him and ask him to pledge those coins for forum use 'when needed' ?

[starsoccer9]

lol agreed, Personally I think that the money should be split into equal amounts and distributed to people who are deemed trustworthy.

[theymos]

people such as pirateat40 also donated to the forum

do you want theymos to send 50 BTC to him and ask him to pledge those coins for forum use 'when needed' ?

Maybe he'd give the forum a special 100% weekly interest rate.

[starsoccer9]

you mean 700% a week lol

What about doing something as stupid and simple as the following
Generate address each lets say 50BTC in it.Then you export all the privite keys and split them all using this website http://passguardian.com/
Then you distribute parts of the key to 255 differnt users. You then delete the privite keys off your computer and send away the parts.

Whats good about this is noone really has any money just parts of the money that if put together gets you some of the money. Also by keeping who exactly got peices quite none really knows who to talk to or ask to try to steal the money so to speak. Also another plus of this would be that you can set how many peices you need to reconstruct the whole thing. So you could set it at 51% meaning the majority has to agree.

[DrG]

you mean 700% a week lol

What about doing something as stupid and simple as the following
Generate address each lets say 50BTC in it.Then you export all the privite keys and split them all using this website http://passguardian.com/
Then you distribute parts of the key to 255 differnt users. You then delete the privite keys off your computer and send away the parts.

Whats good about this is noone really has any money just parts of the money that if put together gets you some of the money. Also by keeping who exactly got peices quite none really knows who to talk to or ask to try to steal the money so to speak. Also another plus of this would be that you can set how many peices you need to reconstruct the whole thing. So you could set it at 51% meaning the majority has to agree.

255 parts?  Could it be more complicated?

I'm willing to hold a partial key on my wife's office RAID server.  We're both incorporated in CA and as much as we would like to get the hell out of this socialist republic I don't think we're fleeing anytime soon 

[2weiX]

I'd be more than happy to present theymos with a public key he can send any amount to and put the corresponding passphrase/privkey into my notary's control (like a testament). theymos would have to pay the fees, (ie up front for, say, 5 years) and that's that.

More than happy to present theymos with my personal details etc etc.
My lawyer will know what BTC is about (he's recently had a lot to do with it) and the notaries in his office will too.

[Monster Tent]

I have a suggestion that the forum uses some of the money to hire private investigators to go after some of the scammers that use the forum to rip people off. Now thats something I would donate to see.

Could use polls to decide who the next investigation will be.

[Herodes]

I have a suggestion that the forum uses some of the money to hire private investigators to go after some of the scammers that use the forum to rip people off. Now thats something I would donate to see.

Could use polls to decide who the next investigation will be.

That + more reliability perhaps.

[starsoccer9]

I have a suggestion that the forum uses some of the money to hire private investigators to go after some of the scammers that use the forum to rip people off. Now thats something I would donate to see.

Could use polls to decide who the next investigation will be.

That really isnt a bad idea. Yes it isnt the forums fault for the scammers but it would be a nice gesture to hire an investigator to track down a popular scammer and get something done

[BadBear]

I have a suggestion that the forum uses some of the money to hire private investigators to go after some of the scammers that use the forum to rip people off. Now thats something I would donate to see.

Could use polls to decide who the next investigation will be.

That really isnt a bad idea. Yes it isnt the forums fault for the scammers but it would be a nice gesture to hire an investigator to track down a popular scammer and get something done

If the victims didn't deem it worthy enough to go after the scammer themselves, why would someone else?

[Otoh]

How about spending some of the cash on DDoS protection?