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Author Topic: Do-it-yourself Escrow with two-factor address utility  (Read 11839 times)
mc_lovin
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December 09, 2012, 05:32:59 PM
 #21

Thank you Casascius for releasing this!  This is a very powerful tool!

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luv2drnkbr
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December 09, 2012, 05:38:27 PM
 #22

Does the procedure you described represent what needs to be done to generate a 2 of 3 multisig key, or is it something that users only need to do until good UI tools for using multisig keys exist in the clients?

Ya no this is an entirely different thing unrelated to multisig

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January 12, 2013, 08:50:23 AM
 #23

Any news about this topic?

NON DO ASSISTENZA PRIVATA - The Rock Trading (ref): A good exchange since 2007. 
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August 30, 2013, 12:17:39 PM
 #24

Can this tool be used without the escrow part?
Just 2 people: payer sends the BTC to some address and they can only be released when payer and payee agree on it.
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August 30, 2013, 05:46:24 PM
 #25

If the Mycelium wallet had this functionality as a payable pro feature how much would you be willing to pay for it?

Mycelium let's you hold your private keys private.
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August 30, 2013, 10:56:42 PM
 #26

Can this tool be used without the escrow part?
Just 2 people: payer sends the BTC to some address and they can only be released when payer and payee agree on it.

Of course - just have either of the two people be the escrow agent.

The only drawback is if the payer and payee fail to agree, the only alternative is nobody gets the funds.  That advantage could be used by the payer to extort something from the payee beyond the goods he has already received.

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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August 30, 2013, 11:57:04 PM
 #27

Can this tool be used without the escrow part?
Just 2 people: payer sends the BTC to some address and they can only be released when payer and payee agree on it.

Of course - just have either of the two people be the escrow agent.

The only drawback is if the payer and payee fail to agree, the only alternative is nobody gets the funds.  That advantage could be used by the payer to extort something from the payee beyond the goods he has already received.

If either of the 2 people is the escrow agent, then he will have both Invitation codes and can claim the BTC for himself?
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November 02, 2013, 04:10:49 PM
 #28

If the Mycelium wallet had this functionality as a payable pro feature how much would you be willing to pay for it?

What are your suggested prices?
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November 03, 2013, 05:20:08 AM
 #29

Can this tool be used without the escrow part?
Just 2 people: payer sends the BTC to some address and they can only be released when payer and payee agree on it.

Of course - just have either of the two people be the escrow agent.

The only drawback is if the payer and payee fail to agree, the only alternative is nobody gets the funds.  That advantage could be used by the payer to extort something from the payee beyond the goods he has already received.

If either of the 2 people is the escrow agent, then he will have both Invitation codes and can claim the BTC for himself?

Go to Tools >> Two-Factor Bitcoin Tools >> Key Combiner.

You'll need a fresh empty bitcoin address that you don't care about, as will your trading partner.  You give them your hex public key (found via the address utility), and they give you their hex public key.  You put your hex PRIVATE key in "Input Key 1" and their PUBLIC hex key in Input 2.  Make sure EC Multiplication is checked, which it is by default, and hit combine.  This will generate a bitcoin address at the bottom.  When they put *their private hex key* and *your PUBLIC hex key* in the respective inputs on their software, they will arrive at the same bitcoin address as you did.  You can both verify that the same address was generated.

Then to get the private key of that address you two created, you simple need to enter the private hex key of both your and your partner's address.  So either they give their private key to you, or you give your private key to them.

Voila!  No escrow, but you can both verify the faux-escrow address and know for sure the other party cannot access it.

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