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Date: Wed, 05 Jun 2013 20:34:55 -0400
From: Alan Reiner <etotheipi@gmail.com>
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Subject: Re: [Bitcoin-development] Revocability with known trusted escrow
 services?
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The two most basic ways would be simply:

(1) You create your transactions having a locktime of X days and has
sequence numbers such that it can be replaced exactly once.  The
replacement, can be executed within 30 days.

(2) You simply send money to 1-of-2 transactions:  me-or-you.  If the
person who is receiving it wants it, they have to sign for it by sending
it to one of their own single-sig addresses.  Otherwise, you can return
it to yourself at some point in the future.

I don't totally understand the goal, and how/if these solutions actually
achieve such goal.  But it does add a way for transactions to exist a
non-final state for some amount of time.  But in both cases,
accessibility is still binary:  you have complete access to it, until
you don't.   Which might be seen as the point of irrevocable transfer.

-Alan



On 06/05/2013 08:19 PM, Peter Vessenes wrote:
> So, this
> http://www.americanbanker.com/bankthink/the-last-straw-for-bitcoin-1059608-1.html?pg=1
>  article got posted today, noting that FinCEN thinks irrevocable
> payments are money laundering tools. 
>
> I will hold my thoughts about the net social good of rent-seeking
> large corporations taking money from consumers over fraudulent
> reversals. Actually, I won't, I just said it.
>
> At any rate, it got me thinking, can we layer on revocability somehow
> without any protocol change, as an opt-in?
>
> My initial scheme is a trusted (hah) escrow service that issues time
> promises for signing. If it doesn't receive a cancel message, it will
> sign at the end of the time. 
>
> The addresses would be listed by the escrow service, or in an open
> registry, so you could see if you were going to have a delay period
> when you saw a transaction go out.
>
> This seems sort of poor to me, it imagines that mythical thing, a
> trusted escrow service, and is vulnerable to griefing, but I thought
> I'd see if some of the brighter minds than me can come up with a
> layer-on approach here.
>
> When I think about it, I can imagine that I would put a good number of
> my coins in a one day reversible system, because I would have warning
> if someone wanted to try and spend them, and could do something about
> it. I'm not sure if it gets me anything over a standard escrow
> arrangement, though.
>
> Peter
>
> -- 
>
> ------------------------------------------------------------------------
>
> CoinLab LogoPETER VESSENES 
> CEO
>
> *peter@coinlab.com <mailto:peter@coinlab.com> * /  206.486.6856
>  / SKYPE: vessenes 
> 71 COLUMBIA ST / SUITE 300  /  SEATTLE, WA 98104
>
>
>
> ------------------------------------------------------------------------------
> How ServiceNow helps IT people transform IT departments:
> 1. A cloud service to automate IT design, transition and operations
> 2. Dashboards that offer high-level views of enterprise services
> 3. A single system of record for all IT processes
> http://p.sf.net/sfu/servicenow-d2d-j
>
>
> _______________________________________________
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    The two most basic ways would be simply:<br>
    <br>
    (1) You create your transactions having a locktime of X days and has
    sequence numbers such that it can be replaced exactly once.&nbsp; The
    replacement, can be executed within 30 days.<br>
    <br>
    (2) You simply send money to 1-of-2 transactions:&nbsp; me-or-you.&nbsp; If
    the person who is receiving it wants it, they have to sign for it by
    sending it to one of their own single-sig addresses.&nbsp; Otherwise, you
    can return it to yourself at some point in the future.<br>
    <br>
    I don't totally understand the goal, and how/if these solutions
    actually achieve such goal.&nbsp; But it does add a way for transactions
    to exist a non-final state for some amount of time.&nbsp; But in both
    cases, accessibility is still binary:&nbsp; you have complete access to
    it, until you don't.&nbsp;&nbsp; Which might be seen as the point of
    irrevocable transfer.<br>
    <br>
    -Alan<br>
    <br>
    <br>
    <br>
    <div class="moz-cite-prefix">On 06/05/2013 08:19 PM, Peter Vessenes
      wrote:<br>
    </div>
    <blockquote
cite="mid:CAMGNxUv7wkiUYZ2nZjOP0mEW7bgR0a+CXKyDPq38joU-fMMQ9Q@mail.gmail.com"
      type="cite">
      <div dir="ltr">So, this <a moz-do-not-send="true"
href="http://www.americanbanker.com/bankthink/the-last-straw-for-bitcoin-1059608-1.html?pg=1">http://www.americanbanker.com/bankthink/the-last-straw-for-bitcoin-1059608-1.html?pg=1</a>
        &nbsp;article got posted today, noting that FinCEN thinks irrevocable
        payments are money laundering tools.&nbsp;
        <div>
          <br>
        </div>
        <div>I will hold my thoughts about the net social good of
          rent-seeking large corporations taking money from consumers
          over fraudulent reversals. Actually, I won't, I just said it.<br>
          <div><br>
          </div>
          <div>At any rate, it got me thinking, can we layer on
            revocability somehow without any protocol change, as an
            opt-in?</div>
          <div><br>
          </div>
          <div>My initial scheme is a trusted (hah) escrow service that
            issues time promises for signing. If it doesn't receive a
            cancel message, it will sign at the end of the time.&nbsp;</div>
          <div><br>
          </div>
          <div>The addresses would be listed by the escrow service, or
            in an open registry, so you could see if you were going to
            have a delay period when you saw a transaction go out.</div>
          <div><br>
          </div>
          <div>This seems sort of poor to me, it imagines that mythical
            thing, a trusted escrow service, and is vulnerable to
            griefing, but I thought I'd see if some of the brighter
            minds than me can come up with a layer-on approach here.</div>
          <div><br>
          </div>
          <div style="">When I think about it, I can imagine that I
            would put a good number of my coins in a one day reversible
            system, because I would have warning if someone wanted to
            try and spend them, and could do something about it. I'm not
            sure if it gets me anything over a standard escrow
            arrangement, though.</div>
          <div style=""><br>
          </div>
          <div>Peter<br clear="all">
            <div><br>
            </div>
            -- <br>
            <div dir="ltr"><br>
              <hr
                style="font-family:Times;font-size:medium;border-right-width:0px;border-bottom-width:0px;border-left-width:0px;border-top-style:solid;border-top-color:rgb(204,204,204);margin:10px
                0px">
              <p
style="font-size:medium;font-family:Helvetica,sans-serif;line-height:1em"><span
                  style="color:rgb(50,90,135);text-transform:uppercase"><img
                    moz-do-not-send="true"
                    src="http://coinlab.com/static/images/email_logo.jpg"
                    alt="CoinLab Logo" width="130" align="right">PETER&nbsp;<span
                    style="font-weight:bold">VESSENES&nbsp;</span><br>
                  <span style="color:rgb(96,58,23);font-size:0.8em">CEO</span></span></p>
              <p
style="font-size:medium;font-family:Helvetica,sans-serif;line-height:1em"><span
                  style="color:rgb(96,58,23);font-size:0.9em"><strong><a
                      moz-do-not-send="true"
                      href="mailto:peter@coinlab.com"
                      style="text-decoration:none;color:rgb(96,58,23)"
                      target="_blank">peter@coinlab.com</a>&nbsp;</strong>&nbsp;/&nbsp;&nbsp;206.486.6856
                  &nbsp;/&nbsp;<span
                    style="font-size:0.7em;text-transform:uppercase">SKYPE:</span>&nbsp;vessenes&nbsp;</span><br>
                <span
                  style="color:rgb(96,58,23);font-size:0.7em;text-transform:uppercase">71
                  COLUMBIA ST / SUITE 300 &nbsp;/&nbsp; SEATTLE, WA 98104</span></p>
            </div>
          </div>
        </div>
      </div>
      <br>
      <fieldset class="mimeAttachmentHeader"></fieldset>
      <br>
      <pre wrap="">------------------------------------------------------------------------------
How ServiceNow helps IT people transform IT departments:
1. A cloud service to automate IT design, transition and operations
2. Dashboards that offer high-level views of enterprise services
3. A single system of record for all IT processes
<a class="moz-txt-link-freetext" href="http://p.sf.net/sfu/servicenow-d2d-j">http://p.sf.net/sfu/servicenow-d2d-j</a></pre>
      <br>
      <fieldset class="mimeAttachmentHeader"></fieldset>
      <br>
      <pre wrap="">_______________________________________________
Bitcoin-development mailing list
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