The Gambling Bank

[Dabs]

Goat mentioned an idea some time ago:

1. Paper wallet. Or Plastic. Or Engraved in Metal.
2. Seal it. Waterproof it. Put it in a box.
3. Bury it under your swimming pool.

You know those bitcoins are always there. If you really really need to get them, you'd have to:

1. Drain the pool.
2. Break a few tiles.
3. Dig up your paper wallet.

You'd still have to trust yourself.

Alternatively, you can do the multi-sig thing above and create the transaction all by yourself, except you destroy the private keys that would have been held by the bank. That way, no one else can double-spend your coins, and you yourself can't redeem them until the time comes.

You are your own bank. That's the whole bitcoin motto right?

[dooglus]

Drop me a line and let's make it happen.
Thanks all.

Did you see this?

http://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg06250.html
http://blog.viacoin.org/2014/10/01/petertodd-dev-update.html

It looks like it's happening in a much better way - a protocol change that allows you specify the locktime in the transaction that creates an output, rather than at spend time. In that way you don't need to do any of this "forget private key" nonsense.

It could take a while to get into Bitcoin, but if it does it's clearly the best way of solving this problem.

[kleineaap]

Drop me a line and let's make it happen.
Thanks all.

Did you see this?

http://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg06250.html
http://blog.viacoin.org/2014/10/01/petertodd-dev-update.html

It looks like it's happening in a much better way - a protocol change that allows you specify the locktime in the transaction that creates an output, rather than at spend time. In that way you don't need to do any of this "forget private key" nonsense.

It could take a while to get into Bitcoin, but if it does it's clearly the best way of solving this problem.

I still stand with my idea.
The fact you bring possibilities in the blockchain is refreshing and admirable, yet I don't see it happening as a service with Bitcoin in the near future.

I will put my effort into bringing this to reality as a draft, counting on as many respected escrows as possible.

Thanks for the discussion.