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Author Topic: Green Addresses  (Read 788 times)
fork
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December 27, 2011, 11:49:31 AM
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How does the idea of green addresses work at www.instawallet.org? It looks like there is one singled out "green address" that the buyer is suppose to send bitcoin from. But how does the seller know the bitcoin transaction originated from the buyer if it comes from a generic green address. And suppose there are multiple buyers using the same green address then how does the seller know who paid for what?

Does the seller verify bitcoins were sent by looking at a 2nd transfer from the buyers bitcoin address to the green address? But then what if multiple buyers are buying the same type of object and one of them decides to send bitcoins manually to the green address and so no bitcoins are sent to the seller. How would the seller figure out which among all these buyers didn't actually get bitcoins sent from the green address?
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terrytibbs
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December 27, 2011, 11:59:03 AM
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How does the idea of green addresses work at www.instawallet.org? It looks like there is one singled out "green address" that the buyer is suppose to send bitcoin from. But how does the seller know the bitcoin transaction originated from the buyer if it comes from a generic green address. And suppose there are multiple buyers using the same green address then how does the seller know who paid for what?

Does the seller verify bitcoins were sent by looking at a 2nd transfer from the buyers bitcoin address to the green address? But then what if multiple buyers are buying the same type of object and one of them decides to send bitcoins manually to the green address and so no bitcoins are sent to the seller. How would the seller figure out which among all these buyers didn't actually get bitcoins sent from the green address?

Um.. he generates a new receiving address for every buyer?
DeathAndTaxes
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December 27, 2011, 02:50:00 PM
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Exactly.  Green address or not.  Use a new receiving address for each order, customer, account.  Period.  If you think you have discovered some other method you haven't.  You have merely found a good way for scammers to impersonate payments by legit customers.

1 unique address per customer, account, or order.
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December 28, 2011, 03:29:38 AM
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Oh ok so then whats the idea after the transaction to the unique address is confirmed? Should one just send all the bitcoins to a single address before selling on mtgox?

Also how computational expensive is it to create a new address each time?
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December 28, 2011, 03:48:19 AM
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Oh ok so then whats the idea after the transaction to the unique address is confirmed? Should one just send all the bitcoins to a single address before selling on mtgox?

Also how computational expensive is it to create a new address each time?

To sell on mtgox, you send them to mtgox.  They give you a new address for each deposit.  You can create a few thousand address per second on a standard CPU.

https://www.bitcoin.org/bitcoin.pdf
While no idea is perfect, some ideas are useful.
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terrytibbs
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December 28, 2011, 03:52:29 AM
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Also how computational expensive is it to create a new address each time?
Your average modern processor should be able to generate just shy of 1 million private/public keypair combinations per second.

Collisions are also practically nonexistent, taking 28.23 trillion trillion trillion centuries to brute-force if you singled in on a single address (and that's assuming one hundred trillion guesses per second, around ). This time goes down as the array of pubkeys you're trying to crack grows, but the processing slows down as you have to check every generated privkey against that array. I don't know where the trade-off is.

Still, that's.. uh.. 2823000000000000000000000000000000000000 years. Earth has existed for 4540000000.
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December 28, 2011, 04:12:00 AM
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Also how computational expensive is it to create a new address each time?
Your average modern processor should be able to generate just shy of 1 million private/public keypair combinations per second.

Collisions are also practically nonexistent, taking 28.23 trillion trillion trillion centuries to brute-force if you singled in on a single address (and that's assuming one hundred trillion guesses per second, around ). This time goes down as the array of pubkeys you're trying to crack grows, but the processing slows down as you have to check every generated privkey against that array. I don't know where the trade-off is.

Still, that's.. uh.. 2823000000000000000000000000000000000000 years. Earth has existed for 6000.

FTFY. Go with god, bro.
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December 28, 2011, 07:23:10 AM
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Does anyone know the comprehensive list of instant payment solutions? And specifically among the green address category, whats the list of sites that implement it?
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