Howdy,
I just wanted to give an update on a few changes and FAQs in regards to BlackBank
BTC Bitcoin Market.
If there are any questions or feedback, always feel free to contact me at anytime by PM or directly at:
BlackBank@mail2tor.comtorchat: e5tdbd3ruap34zda
Cheers,
MDParity
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Just as it is important to Protect Buyers, it is important to Protect Sellers
Update: New Features: User Profiles and Favorites
Update: Search/Verify sellers by PGP
Update: PGP public key ownership verification; new feature will be rolling out to include searching for sellers by verified PGP public keys
Update: added an FAQ/Benefits of BlackBank Multi-Sig
BlackBank Market: http://omo6o7akcampiryq.onionBlackBank Forum: http://u5z75duioy7kpwun.onionBlackBank Wiki: http://u5z75duioy7kpwun.onion/wiki-----
Howdy,
As requested, there have been new features added to BlackBank:
- User Profiles: prior to accepting a purchase, sellers can now view the user's profile, PGP public key, and general past history on feedback given to sellers and the number of disputed transactions
- Favorites: there is now a "star" icon next to the name of each item; items can be "starred" as a favorite and accessed later on in the "favorites list". The "favorites list" can be found in the "Account Panel" drop down menu or under the "Market" side panel.
As it is important to protect buyers, it is also important to protect legitimate sellers. This feature enables a seller to make crucial decisions prior to accepting purchases and also allows BlackBank to moderate any disputes with impartiality using all of the information available on hand.
Managing Purchases:http://u5z75duioy7kpwun.onion/wiki/images/7/7a/Manage-sales.jpgUser Profiles:http://u5z75duioy7kpwun.onion/wiki/images/b/bd/Userprofile.jpgIf there are any questions or feedback, please always feel free to contact me or share them in the forum.
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Search/Verify Sellers by PGPhttp://u5z75duioy7kpwun.onion/wiki/index.php/Verified_PGPA new feature to search for
Verified PGPs has recently been added to BlackBank. A
Verified PGP is a PGP public key which ownership of has been verified through an encrypted challenge question that only someone with a private key can respond to. Since only the holder of a private key can decrypt the encrypted code, this will indicate that the public key in the profile belongs to the owner and not someone copying a PGP key into their profile to impersonate another person
(ex. a reputable seller).
This feature is designed to
assist buyers in finding and verifying the identity of sellers from other markets. It is an assurance that the two sellers are the same and prevents fraud. This feature can also be used by sellers who are just starting up in BlackBank to refer to their past profiles and feedback on other markets and identify themselves through the PGP code.
Benefits of the New PGP Features:- Assist buyers in verifying the identity of sellers
- Buyers will be able to easily find a seller by searching for the seller's verified PGP public key
- Even if sellers do not have any feedback on BlackBank, they can use their verified PGP public key to identify their profiles on other markets
- Sellers using the verified PGP public key as reference to their profiles on other markets will be able to show past feedback as assurance to buyers
If there are any questions or feedback, please feel free to contact me at anytime.
Cheers,
MDParity
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Howdy,
There are only about 120 listings at the moment; still working on features to bring in sellers. In the meantime, BlackBank is gaining roughly 100 new members a day.
In terms of development, I would also like to introduce a new feature in BlackBank:
PGP Ownership VerificationAs PGP is a great way to verify sellers and buyers, BlackBank now requires PGP public key ownership to be verified. This is an important step to ensure other people do not steal or use your PGP public key in their profile as an attempt to impersonate you.
There will be a feature rolling out shortly to allow for searching sellers by PGP public key as well, but it will only search for verified PGP public keys. If you registered before the date of this message, please verify your PGP code by following the below instructions:
1. Edit your PGP code
2. Save your PGP code (you don't have to change it)
3. Answer the challenge question by decrypting the message and entering the code in the response box
All members who register after the date of this message will not have to worry, as you will be asked to verify the ownership of your PGP public key when you first add it to your profile.
Cheers,
MDParity
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Howdy,
Just want to share some updates on BlackBank, now with 1000+ members. Seller accounts are still free, but will be changing shortly.
New features and updates:Multi-Sig Escrow: when funds are in Escrow, they are kept in the Bitcoin Blockchain and no longer in BlackBank Market. After a purchase is accepted by a seller, a Multi-Signature Address is created using the public keys provided by the Buyer, the Seller, and BlackBank Market. Each public key is paired with a private key. In order to access the funds, two of the three private keys must be provided. This prevents access to the funds without authorization from at least two members. As the funds are in the Blockchain, it can also be accessed via the native Bitcoin-QT client without BlackBank.
Benefits of Multi-Sig Escrow:- it is not developed by the market; it is a Bitcoin protocol developed for the purpose of escrow
- funds stored in Bitcoin Blockchain and not in a wallet address (can not be stolen from a hacked system)
- 2 of 3 signatures (private keys) required to release the funds
- if market was unavailable, the buyer and seller can release the funds with their key pair
- if a key was lost, the funds can be released with any combination of the market with buyer or seller
- a market can not scam as the private key of either buyer or seller is required to access the funds
A lot of time was taken to come to a compromise on how to create an easy to use Multi-Sig experience. When using Multi-Sig Escrow on BlackBank, all that is required is a public key, a private key, and a withdrawal address. There is no need for special commands or technical knowledge.
A Manual Finalize Early code is also provided that can be used on the official Bitcoin-QT client in the event BlackBank was to become unavailable. The entire manual FE requires only two commands and the private keys of both parties. Bitcoins in Multi-Sig addresses are stored in the blockchain. The market can not be hacked nor scam and run away with the funds as two private keys are required:
1. Market + Buyer
2. Market + Seller
3. Buyer + Seller
No more worries of hacks or scam markets. 2-Factor Authentication: uses your PGP public key to encode a randomly generated code and requires you to decode it during authentication. This prevents phishing attacks; if a hacker retrieves your password, they will still not be able to access the account if they can not decrypt the generated code. The code changes every time it is entered incorrectly, which also prevents brute hacking (although there is also a captcha after 5 unsuccessful log in attempts, but more security is always better).
If there are any questions, comments, or feedback, always feel free to contact me.
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FAQQ: Are coins beeing stored on your website? Like in useraccounts or so.
A:Yes and no. There was a compromise to make it easier for the buyer to use multisig escrow. The buyer deposits once into BlackBank and the funds are in the account between deposit and purchase.
The buyer can withdraw the funds at anytime if not in multi-sig escrow.
1. A buyer purchases an item and enters public key and a refund address (in case of disputes)
2. Buyer can cancel the purchase and withdraw at any time still
3. Seller accepts purchase by entering a public key and payment address; multi-sig address created and funds sent
4. Funds now in 2 of 3 multi-sig and not in BlackBank
5. Buyer finalizes with private key; funds released to Seller's payment address
Most funds are stolen during escrow and that's why sellers demand FE. This mitigates risk.
Why not deposit directly to multi-sig? - complicated for buyer; every purchase will require 6 confirmations (ex. purchase 3 items require 3 x 6 confirmations)
- complicated for seller
- every seller has to create multiple public addresses beforehand to accept a buyer's purchase (ex. 5 pre-made public addresses to handle 5 buyers)
Lets say I want to buy something from BB. I make purchase from a seller. Then I send BTC from my privat BTC wallet to my BB account. Then I release them to multi-sig escrow or are the released automaticly?The funds are automatically sent to the multi-sig escrow. A 'manual FE code' is then provided. The first argument, a hex value, can be decoded to show the TXID and verify the funds are in multi-sig. There are several ways to verify; you can also check the blockchain
Am I able to store more coins then I need in my BB account?Yes, but I highly recommend against it. Any funds left in BB would be on a hot wallet. Just deposit the amount you plan to purchase.
The market itself automatically sends all commission and fees to cold storage.
If a seller recives my BTC are they going to his BB account wallet?When the buyer releases the funds, it goes directly to an address provided by the seller, not BB.
1. during purchase, the buyer enters their refund address
2. accepting a purchase, the seller enters their payment address
The word "easy" really rings a bell in my head.Easier; easy would be to use traditional markets where you deposit and purchase an item. In BB multi-sig, you would still need to supply a public key and keep a private key pair. It is also required to remember which private key pair matches which public key; I suggest using Purchase IDs as reference.
Ex. CSV for sellers
PID, Public Key, Private Key
For buyers, I doubt the volume would go too high, so notepad would probably suffice.
Benefits of BlackBank Multi-Sig- buyer can always withdraw the funds at anytime if not in multi-sig
- buyer can buy multiple items at a time without waiting for multiple confirmations
- seller only needs to create a public/private key when accepting a purchase
- the time funds are in BlackBank minimized, mitigating hacker, LE confiscation, and scam risks
- funds can be finalized outside of BlackBank using Bitcoin-QT client with an easy to use code
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Howdy,
Hope to y'all it's okay to post here; thanks for the hub, it's a great central place to gather up. Just wanted to introduce a market, BlackBank. Feel free to join the 700+ spectactors in the Multi-Sig Escrow Market.
BlackBank Market: http://omo6o7akcampiryq.onionBlackBank Forum: http://u5z75duioy7kpwun.onionBlackBank Wiki: http://u5z75duioy7kpwun.onion/wikiI saw 'BlackBank' on DeepDotWeb's post in 'Other New Markets' so I thought I settle down here with a post.
Just a note: yes, BlackBank looks shady - all markets are shady - I just prefer being honest in appearance, and maybe a lil class.
If any of you has questions, comments, or feedbacks, feel free to share.
Cheers,
MDParity
