dafunkizdiz (OP)
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June 30, 2018, 05:04:03 AM |
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I am creating an entirely new kind of wallet. It's mostly done. But I am getting a bit discouraged by the response so far. And so I am here in front of you guys to explain the idea.
I call it Treasury.
It's a wallet where you can invite yourself and your friends to create a "treasury". One person is allowed to spend and others can only see (watching wallets). Additionally, it is also possible to regulate the spending by creating access control. For instance, one is only allowed to spend X amount of bitcoins in Y amount of days.
Is there anyone who wants to try this?
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aleksej996
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Do not trust the government
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June 30, 2018, 08:49:28 AM |
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It is open source right?
Can you give us a link to the source code?
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HCP
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<insert witty quote here>
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June 30, 2018, 10:11:05 AM |
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How is that different to one person (ie. the one allowed to spend) setting up a wallet... and giving out the xpub (for an HD wallet) or the bitcoin address (ie. for a single private key paper wallet) to the other users (to create watching-only wallets)? Or is your idea to streamline the process? As for the spending controls... how do you enforce this? What is stopping the person with "spend" permission exporting the private key(s), importing to another wallet and spending whatever they like?  If your wallet doesn't provide access to the private key(s)... what backup facility do you provide to ensure that the funds can be "recovered" in the case of an issue (hardware failure etc)? |
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Thirdspace
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June 30, 2018, 12:37:49 PM |
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It's a wallet where you can invite yourself and your friends to create a "treasury". One person is allowed to spend and others can only see (watching wallets). Additionally, it is also possible to regulate the spending by creating access control. For instance, one is only allowed to spend X amount of bitcoins in Y amount of days.
how exactly controlling access to fund done in your wallet? if your wallet has the total control of the fund, don't expect anyone to be interested in it  you should just implement multisig address with easy interface to coordinate and connect multi users |
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dafunkizdiz (OP)
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Activity: 16
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June 30, 2018, 02:06:01 PM |
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It is open source right?
Can you give us a link to the source code?
It's closed source for now. Might change it later. |
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dafunkizdiz (OP)
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June 30, 2018, 02:29:53 PM |
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How is that different to one person (ie. the one allowed to spend) setting up a wallet... and giving out the xpub (for an HD wallet) or the bitcoin address (ie. for a single private key paper wallet) to the other users (to create watching-only wallets)? Or is your idea to streamline the process?
Yep, it does uses the xpub. As for the spending controls... how do you enforce this? What is stopping the person with "spend" permission exporting the private key(s), importing to another wallet and spending whatever they like? Essentially, you encrypt it. If your wallet doesn't provide access to the private key(s)... what backup facility do you provide to ensure that the funds can be "recovered" in the case of an issue (hardware failure etc)?
Seed which is broken down and given to each member of the Treasury. |
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dafunkizdiz (OP)
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June 30, 2018, 02:44:22 PM |
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how exactly controlling access to fund done in your wallet? if your wallet has the total control of the fund, don't expect anyone to be interested in it you should just implement multisig address with easy interface to coordinate and connect multi users One thing is for sure. The ultimate control of the funds won't rest with "me". Multi-sig feature is in the queue. Just wanted to try something different first. |
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aleksej996
Sr. Member
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Activity: 490
Merit: 389
Do not trust the government
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July 17, 2018, 02:48:24 PM |
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It is open source right?
Can you give us a link to the source code?
It's closed source for now. Might change it later. If it is not open soruce it is not a wallet, it's a bank. |
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bob123
Legendary
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Activity: 1624
Merit: 2481
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July 17, 2018, 03:10:04 PM |
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As for the spending controls... how do you enforce this? What is stopping the person with "spend" permission exporting the private key(s), importing to another wallet and spending whatever they like? Essentially, you encrypt it. But it has to be decrypted when spending. So if the wallet actually does hold the private key (which it should, because if not it is not a proper wallet) it can be reverse engineered or debugged to extract the private key. This would eliminate your 'encryption'. IF the private key is known to the wallet, each user can extract it => 'Permissions' to spend are useless, since one user can steal all funds. If the private key is NOT known to the wallet, it basically is a (weaker form of an) online wallet where the server does handle payment requests (and also holds the private key) => Unsecure. For me, it seems this system is flawed and does not work. Did i miss something ? Does your software/concept work differently ? Might explain it more detailed ? |
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just_Alice
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July 30, 2018, 06:40:28 PM |
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What's the idea, why would anyone want others to watch how much you spend? I think it's kind of a thing that each person wants to leave to himself. Unless of course you want to create a special wallet which would help people to control their expenditures. Also, if it's a wallet with multiple access for friends it would be very convenient to give loans to each other, somehow open access to your assets for a friend so he can just withdraw it - no transactions needed then, quick operation. This idea reminds me of some Wallet Expense Manager. Anyway, there's a similar function for credit/debit cards and people are into it, so I think it will be in requisition.
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drpshp
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August 02, 2018, 03:55:12 AM |
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It is open source right?
Can you give us a link to the source code?
It's closed source for now. Might change it later. If it is not open soruce it is not a wallet, it's a bank. What makes it a bank? If the users own the private keys then how is it a bank.. |
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bob123
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Activity: 1624
Merit: 2481
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August 02, 2018, 06:23:30 AM |
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It is open source right?
Can you give us a link to the source code?
It's closed source for now. Might change it later. If it is not open soruce it is not a wallet, it's a bank. What makes it a bank? If the users own the private keys then how is it a bank.. The point is that the user CAN NOT KNOW that (only) he owns the private keys. It would be way too easy to have a backdoor installed in the wallet (either by directly letting the attacker/publisher connect to the PC or by using a predefined seed-pool). One should NEVER use/trust a closed-source wallet without any reputation. In most cases this will have a bad end. There is no reason to use such a wallet. 1) The concept CAN NOT work. 2) It MIGHT be malicious. 3) There are BETTER (open source) wallets available. |
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koki123
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August 02, 2018, 06:23:35 AM |
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I am creating an entirely new kind of wallet. It's mostly done. But I am getting a bit discouraged by the response so far. And so I am here in front of you guys to explain the idea.
I call it Treasury.
It's a wallet where you can invite yourself and your friends to create a "treasury". One person is allowed to spend and others can only see (watching wallets). Additionally, it is also possible to regulate the spending by creating access control. For instance, one is only allowed to spend X amount of bitcoins in Y amount of days.
Is there anyone who wants to try this?
Can you send me the link? Is it a cold wallet or a hot wallet? And what is the difference with Blockchain? |
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thuiuqioui98382
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Activity: 28
Merit: 0
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August 02, 2018, 08:30:19 AM |
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I am creating an entirely new kind of wallet. It's mostly done. But I am getting a bit discouraged by the response so far. And so I am here in front of you guys to explain the idea.
I call it Treasury.
It's a wallet where you can invite yourself and your friends to create a "treasury". One person is allowed to spend and others can only see (watching wallets). Additionally, it is also possible to regulate the spending by creating access control. For instance, one is only allowed to spend X amount of bitcoins in Y amount of days.
Is there anyone who wants to try this?
I would like to know what kind of wallet is called your purse wallet it will look like? What is different with the type of wallet we usually use? |
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