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Author Topic: [Idea] Automatic redirection of payments from an address to another  (Read 646 times)
davux
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July 05, 2011, 12:06:04 AM
 #1

Starting a new topic, because it was starting to be way off-topic.

In another thread, TTBit pointed out an interesting service idea:

Firstbits.com could allow pointing of the address to another, no?

That would be automatic redirection. Mybitcoin already offers payment redirection, but the idea could be generalized.

Let's suppose you want to automatically redirect any payment made from address A to address B. You could run a daemon that knows the private key for address A and automatically forwards to address B any payment made to A. Such a daemon can be an independent piece of software, or simply something that polls bitcoind regularly via JSON-RPC. That would be the self-hosted version.

For people who can't or don't want to bother running such a daemon locally, someone could provide a service to handle that automatically for you. Of course, you would need to send them the private key, so they would need to prove trustworthy and secure, just like any other online wallet. So all in all, that would be the forward-only online wallet version.

An optional feature of the online service would be coin mixing/laundering: depending on the situation, you might or might not want people to be aware of the forwarding.

Thoughts?

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July 05, 2011, 01:03:45 AM
 #2

Actually I already thought about the forwarding idea which is offered by MyBitcoin as a way to secure one's coins.

The idea: you create two accounts at MyBitcoin and you forward all incoming payments from account A to account B.
In your account B you forward any incoming payment to your account A.

Now you can send BTC to one of your accounts and the loop begins.

This way your bitcoins were always in the loop until you need them.

When you need them you simply stop forwarding in one of your accounts and wait for the "last forwarding" from your other account arrives in the account where you stopped forwarding.

I don't know whether this would actually work in reality...unfortunatley I didn't have the time to try it out.

Maybe someone already did..?

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July 05, 2011, 04:17:03 AM
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The idea: you create two accounts at MyBitcoin and you forward all incoming payments from account A to account B.
In your account B you forward any incoming payment to your account A.

My first thought is to wonder why in the hell you'd do that.

My second thought is to remember a comment I made earlier this year: "Put a stargate in the Celestial Temple. Best April Fool's joke ever."

"MOOOOOOOM! SOME MYTHICAL WOLFBEAST GUY IS MAKING FUN OF ME ON THE INTERNET!!!!"
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