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Author Topic: What if i provide Vanity addresses?  (Read 800 times)
Dr.Famous
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May 10, 2016, 01:02:45 PM
 #1

Recently, i researched about the vanity addresses and i am thinking to open up a service in which i will create vanity addreses for people at a cheap rate, But the problem is my trust level. I will never misuse the service which i will provide but my rank doesn't show a good reputation infront of the other members.

I wanted to know, If you guys will support me or i will have to wait before starting this service?
Let me know.

~Dr.Famous~

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May 10, 2016, 01:04:24 PM
 #2

Recently, i researched about the vanity addresses and i am thinking to open up a service in which i will create vanity addreses for people at a cheap rate, But the problem is my trust level. I will never misuse the service which i will provide but my rank doesn't show a good reputation infront of the other members.

I wanted to know, If you guys will support me or i will have to wait before starting this service?
Let me know.

~Dr.Famous~

You can generate vanity address in a way that you don't have to be trusted at all. (except escrow for taking payments)

Do your research on topic before offering services

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May 10, 2016, 01:09:20 PM
 #3

Recently, i researched about the vanity addresses and i am thinking to open up a service in which i will create vanity addreses for people at a cheap rate, But the problem is my trust level. I will never misuse the service which i will provide but my rank doesn't show a good reputation infront of the other members.

I wanted to know, If you guys will support me or i will have to wait before starting this service?
Let me know.

~Dr.Famous~

You can generate vanity address in a way that you don't have to be trusted at all. (except escrow for taking payments)

Do your research on topic before offering services
I said i researched on Vanity Addresses but not sure how can i generate without even being trusted. Would be fine if you will help me in it?
And, It's just a question, i didn't started my service without getting the required information.

Thank you.
~Dr.Famous~

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May 10, 2016, 01:11:24 PM
 #4

The keyword is split key vanity address generation.
Essentially, you never get access to the full private key for the vanity address you generate, hence the trust issue gets avoided.
(As long, as you don't force the other party to pay ( or pay partially) upfront.)


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May 10, 2016, 01:13:48 PM
 #5

You remind me of myself Cheesy

Yes you should read more about the vanitygen so you can do it securely and safely without knowing the whole private key.

See my super old service below LOL https://bitcointalk.org/index.php?topic=202826.0

New wallets using seed wallet will NOT support importing priv keys such as vanity addresses. Even if you can import, if you reinstall everything, your seed will not recover the privkeys for the vanity address

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May 10, 2016, 01:15:50 PM
 #6

New wallets using seed wallet will NOT support importing priv keys such as vanity addresses. Even if you can import, if you reinstall everything, your seed will not recover the privkeys for the vanity address
By this you mean, Vanity Addresses will not work in new wallet or what?

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May 10, 2016, 01:16:40 PM
 #7

OP, I'd like to point out 2 things:

1. There's already a service for this: bitcoinvanitygen.com
This means that you'll really need more trust and also lower price than the existing service.

2. Using any 3rd party for creating a wallet is a security risk people already know and not many are willing to take.
While you can run a program (publicly available) to generate vanity address, most will do that in the privacy of their own computer.


So I'd think of better services to offer.....

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Dr.Famous
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May 10, 2016, 01:18:46 PM
 #8

OP, I'd like to point out 2 things:

1. There's already a service for this: bitcoinvanitygen.com
This means that you'll really need more trust and also lower price than the existing service.

2. Using any 3rd party for creating a wallet is a security risk people already know and not many are willing to take.
While you can run a program (publicly available) to generate vanity address, most will do that in the privacy of their own computer.


So I'd think of better services to offer.....
Hello,

Thank you for your points. I got something to say:

1. I will be doing it for free for acceptable limit of words.
2. I will never force anyone to get a vanity address from me.

~Dr.Famous~

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May 10, 2016, 01:24:44 PM
 #9

There's already a service for this: bitcoinvanitygen.com
This means that you'll really need more trust and also lower price than the existing service.
The service has NO trust at all, in fact, it's been often discussed (and IIRC even proven) that the service is indeed nothing but scam.
I don't know why people bring them up again and again (I've often warned others about that site after the next guy 'suggested' using them...)

Using any 3rd party for creating a wallet is a security risk people already know and not many are willing to take.
While you can run a program (publicly available) to generate vanity address, most will do that in the privacy of their own computer.
With split-key creation, this risk can be minimized, making it (practically) safe to use addresses generated that way (by a 3rd party, however not fully).

While you can run a program (publicly available) to generate vanity address, most will do that in the privacy of their own computer.
Those that got the hardware necessary, but in some cases, with long prefixes, issuing this job to another person can be the better option for you.


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May 10, 2016, 01:31:01 PM
 #10

There's already a service for this: bitcoinvanitygen.com
This means that you'll really need more trust and also lower price than the existing service.
The service has NO trust at all, in fact, it's been often discussed (and IIRC even proven) that the service is indeed nothing but scam.
I don't know why people bring them up again and again (I've often warned others about that site after the next guy 'suggested' using them...)

You missed this:
2. Using any 3rd party for creating a wallet is a security risk people already know and not many are willing to take.

I tried to say nicely that it's not worth the risk to ask somebody else to generate an address for you.
Sooner or later people will try to steal if you give them the opportunity. I didn't know, but from Lutpin said it looks like the vanitygen website already tried that.


Updade: I see that Lutpin edited his post. Should I delete this one?

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Dr.Famous
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May 10, 2016, 01:53:06 PM
 #11

So, my last question is should i provide a service in which i will use split-key technique and will use escrow when needed?

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May 10, 2016, 10:33:57 PM
 #12

So, my last question is should i provide a service in which i will use split-key technique and will use escrow when needed?

You can try offering the service anyways but make sure you know how split key generation properly works. Do not request or pass the wrong part /parts of the split keys if not you might be implicated if btcs get stolen later. Your service would probably not gain much traction though as it is too easy to generate a vanity address by the owner themselves with current hardware.

You would be hardpressed to get customers unless you are willing to generate super long vanity addresses for dirt cheap, even than you will get alot of doubts because people don't read or have no idea how safe split key generation is.

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May 11, 2016, 12:55:04 PM
 #13

People always scared to use vanity addresses generated by third person as there is always doubt of getting scammed if those third person keep the private key of generated addresses.

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May 11, 2016, 12:57:09 PM
 #14

People always scared to use vanity addresses generated by third person as there is always doubt of getting scammed if those third person keep the private key of generated addresses.
I can understand, But using split-key method avoids this problem. So maybe it's fine to start a vanity service. Smiley

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May 11, 2016, 04:44:40 PM
 #15

People always scared to use vanity addresses generated by third person as there is always doubt of getting scammed if those third person keep the private key of generated addresses.
I can understand, But using split-key method avoids this problem. So maybe it's fine to start a vanity service. Smiley
It's a real problem for non-experts such as yourself. There are a lot of insecure ways to generate keys and not very many secure ones, and the most secure ways aren't very user-friendly. (Got a die and a calculator?) If you're intending to store any significant amount of money, you should enlist the help/services of a knowledgeable friend/professional.

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