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Author Topic: offline address - or a way to explicitly freeze an address  (Read 2535 times)
casascius
Mike Caldwell
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February 28, 2013, 05:02:17 PM
 #41

No matter how you cut it though, if you have a time-locked address, the bad guy has just as much chance of being the person to get the coins the minute the time runs out as the good guy, possibly even more so if the good guy is in a vulnerable position.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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February 28, 2013, 05:18:39 PM
 #42

I think, "time-based lock" is different from "frozen".

"time-based lock" is for predefined time, "freezing" is adhoc.

compromised "time-based lock" address, has no protection.
when in doubt, "frozen" addresses can be unlocked, and then locked with new "freeze" key.

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February 28, 2013, 05:27:49 PM
 #43

when in doubt, "frozen" addresses can be unlocked, and then locked with new "freeze" key.

You keep saying this.  I give up.
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February 28, 2013, 05:32:09 PM
 #44

when in doubt, "frozen" addresses can be unlocked, and then locked with new "freeze" key.

You keep saying this.  I give up.

easy for you, I can't do that.  Smiley

I still have to go a long way to answer questions like,
whether this can be implemented?
can I do this?
will this ever be released?

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March 01, 2013, 12:24:48 PM
 #45

No matter how you cut it though, if you have a time-locked address, the bad guy has just as much chance of being the person to get the coins the minute the time runs out as the good guy, possibly even more so if the good guy is in a vulnerable position.

True. But my idea is to use the time lock as an additional security feature on top of already existing security features, such as offline wallets and multisig.

Instead of using time locks that expire on a fixed date, I would suggest using 'ratchet' time locks where the expiry date can be postponed indefinitely by the owner of the address.

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March 01, 2013, 11:47:17 PM
 #46

Instead of using time locks that expire on a fixed date, I would suggest using 'ratchet' time locks where the expiry date can be postponed indefinitely by the owner of the address.

so, someone gets they key can extend the lock and prevent you from spending.

how you could postpone a time lock? through a new transaction?

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March 09, 2013, 02:32:23 AM
 #47

I still have to go a long way to answer questions like,
whether this can be implemented?
can I do this?
will this ever be released?

1. Probably can not be implemented.
2. Probably no easy way to do it yourself without changing the protocol. It could be client dependent.
3. Probably not ever be released.

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