btcusury (OP)
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August 06, 2014, 04:13:21 PM |
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Say I promise 1 BTC in address X be sent to a recipient at date Y. The recipient is not yet known, but will be one of array(Z). Is there any way to create a cryptographic proof of the promise? In other words, a way to guarantee that the 1 BTC is not spent before date Y and is not sent to any address other than one in array(Z).
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BowieMan
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August 06, 2014, 04:27:16 PM |
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I don't know if that is part of the Bitcoin core protocol (which it has to be in order to work consistently with all bitcoin nodes and miners). But it is definitely possible to postpone a transaction until a specified date or block, if I remember correctly. Could you lay out a case where your method would be more useful than the existing methods?
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bigasic
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August 06, 2014, 04:30:01 PM |
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I dont think that is possible with the bitcoin core. It would be available for a bitcoin wallet, like multibit. it would be fairly easily to implement, but instead of it sending the coin out, maybe just do a reminder so that you can do it manually, just in case something has changed.
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keithers
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August 06, 2014, 05:18:05 PM |
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This is kind of a cool idea though...kind of similar to a post dated check...
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btcusury (OP)
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August 06, 2014, 08:09:35 PM |
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The cryptographic proof of the promise doesn't have to be part of the Bitcoin protocol. Could there be a way, perhaps, to use Ethereum (or anything else) to do this, simply converting whatever currency to BTC at the exchange rate at date Y?
Thanks for your input y'all.
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FUR11
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August 06, 2014, 08:11:17 PM |
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The cryptographic proof of the promise doesn't have to be part of the Bitcoin protocol. Could there be a way, perhaps, to use Ethereum (or anything else) to do this, simply converting whatever currency to BTC at the exchange rate at date Y?
Thanks for your input y'all.
Yeah, but it would be a good thing to be part of the core protocol. All the altcoins and features of more or less centralized systems don't really help Bitcoin itself.
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Meuh6879
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August 06, 2014, 08:13:39 PM |
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Is there any way to create a cryptographic proof of the promise? not in the blockchain function. you can use a "scheduled" transfer from a virtual wallet ... but you always can cancel it, so no ... you can't schedule bitcoin transfer.
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inBitweTrust
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August 06, 2014, 08:14:30 PM |
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Say I promise 1 BTC in address X be sent to a recipient at date Y. The recipient is not yet known, but will be one of array(Z). Is there any way to create a cryptographic proof of the promise? In other words, a way to guarantee that the 1 BTC is not spent before date Y and is not sent to any address other than one in array(Z).
Using and Oracle with multisig escrow would allow this.
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Xch4ng3
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August 06, 2014, 08:15:12 PM |
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a way to guarantee that the 1 BTC is not spent before date Y From your own wallet? I doubt it. I'm sure if you create some kind of escrow through a web portal you could technically set up Bitcoin on a server and have it schedule transfers.
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FUR11
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FURring bitcoin up since 1762
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August 06, 2014, 08:16:45 PM |
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a way to guarantee that the 1 BTC is not spent before date Y From your own wallet? I doubt it. I'm sure if you create some kind of escrow through a web portal you could technically set up Bitcoin on a server and have it schedule transfers. But that is something we definitely don't want. This is an example for something where definitely no escrow or external service is needed for it to work! This is simply something that may be incorporated into the bitcoin protocol. All the information are there and can be associated with the transaction.
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hhanh00
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August 06, 2014, 10:51:56 PM |
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I believe you can even though I haven't tried.
Transaction inputs have a 'lock time' before which it cannot be accepted into a block. Transaction outputs are essentially a script. The most common is the pay-to-hash that allows someone to claim the coins if he provides a matching public key and digital signature. However, one can specify more complicated scripts. Armory implements what you want as a multi-sig lockbox but it doesn't have the time delay feature yet.
Regards, --h
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Razick
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August 06, 2014, 11:43:19 PM |
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I think there is a "time-lock" variable in a standard transaction. I don't know if that's what it does, but it might be worth looking in to.
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btcusury (OP)
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August 07, 2014, 05:11:22 PM |
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Say I promise 1 BTC in address X be sent to a recipient at date Y. The recipient is not yet known, but will be one of array(Z). Is there any way to create a cryptographic proof of the promise? In other words, a way to guarantee that the 1 BTC is not spent before date Y and is not sent to any address other than one in array(Z).
Using and Oracle with multisig escrow would allow this. Could you elaborate on this? What is an Oracle? How could multisig escrow be used to this end?
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