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Author Topic: What's the best technology to use for a face-to-face BTC transaction.  (Read 4578 times)
paraipan
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October 29, 2011, 07:33:14 PM
 #61

@nmat, if i import the key pair you generated and charged with funds into my wallet and set it on auto, make a transaction to transfer funds on one of my personal accounts, how would you double spend the coins without having some superhero abilities of some kind ?

Finney attack

I don't need superhero abilities, just a decent amount of computational power Cool It is obviously not simple and may not be practical to do, but if you are relying on this "instant transaction" to make large deals (several thousands of dollars) you may be defrauded. You need to wait for confirmations on the transaction to your personal account.

EDIT: The general idea of the attack is that I am pre-mining blocks which include the transaction from my address A to my address B, but I don't release them. Then I give you the private key/wallet to my address A. You give me the money and send a transaction from the address A (which you now control) to your address C. As soon as I "hear" your transaction spending the coins in A, I release the block with a transaction from A to B, which invalidates your transaction.

i would happily wait an hour if it's a really large sum, invite the other person a coffee, take a walk or something else. we could turn more social using this system, you never know Tongue

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nmat
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October 29, 2011, 07:44:14 PM
 #62

i would happily wait an hour if it's a really large sum, invite the other person a coffee, take a walk or something else. we could turn more social using this system, you never know Tongue

Yes, I also like that option. It promotes human contact and social interaction. Everybody is in such a rush these days...
paraipan
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October 29, 2011, 07:46:41 PM
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i would happily wait an hour if it's a really large sum, invite the other person a coffee, take a walk or something else. we could turn more social using this system, you never know Tongue

Yes, I also like that option. It promotes human contact and social interaction. Everybody is in such a rush these days...


Exactly, you said it  Cheesy

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October 29, 2011, 08:14:29 PM
 #64

i would happily wait an hour if it's a really large sum, invite the other person a coffee, take a walk or something else. we could turn more social using this system, you never know Tongue

Yes, I also like that option. It promotes human contact and social interaction. Everybody is in such a rush these days...


I think that at this time, a good percent of the people who have the number of BTC that I would want are perhaps not the kind of people I would wish to spend a lot of time hanging out with.  I'd just as soon pass on being the target of a 'three-pronged attack', for instance.


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