Against the idea. People have to be mature enough to handle their own money. Its not that hard
What if the "gamble bank" was written as a new feature in the bitcoin-core wallet?
You click "lock funds", it asks you how much, and for how long, then it does all the steps I previously outlined.
That way you're not trusting any 3rd party (once the code change has been reviewed and found to be legit) and you still get to have your funds irrevocably frozen for a period of time. You would need to be careful to make a safe backup of the timelocked transaction, because if your hard drive dies, your coins would die with it. Your existing wallet backup won't be of any use if it's making up a new key for the transaction and throwing it away as soon as it signs the timelocked transaction.
Would that satisfy your "everyone should be responsible for themselves" craving?
I'm really pleased I got to get this discussion going.
Good to see everybody's points. There might be a trustless solution for it, where a scam can not take place. Funds would be able to get burned though, but not stolen. Which is a step forward. From there, I'm sure other solutions might come up to make it even safer.
I'm interested to see if this is feasible and research forward.
Can you pinpoint the technical requirements to achieve such, and its own complexity level?
I'm not savvy enough to pursue this on my own. However, I'd be happy to take what it needs to get it going and discuss furthermore with all of you that brought some solutions forward.
Love the way that:
- we think of a trust-based service to solve a problem
- the protocol itself is able to solve the service's potential issues
- trust-based condition is removed in its majority
- purpose of service is achieved in its core
Result: Bitcoin wins.
Drop me a line and let's make it happen.
Thanks all.