Return-Path: Received: from smtp2.osuosl.org (smtp2.osuosl.org [IPv6:2605:bc80:3010::133]) by lists.linuxfoundation.org (Postfix) with ESMTP id 59D25C000E for ; Sat, 10 Jul 2021 01:49:39 +0000 (UTC) Received: from localhost (localhost [127.0.0.1]) by smtp2.osuosl.org (Postfix) with ESMTP id 3C2D4402AB for ; Sat, 10 Jul 2021 01:49:39 +0000 (UTC) X-Virus-Scanned: amavisd-new at osuosl.org X-Spam-Flag: NO X-Spam-Score: -1.9 X-Spam-Level: X-Spam-Status: No, score=-1.9 tagged_above=-999 required=5 tests=[BAYES_00=-1.9, DKIM_SIGNED=0.1, DKIM_VALID=-0.1, RCVD_IN_DNSWL_NONE=-0.0001] autolearn=ham autolearn_force=no Authentication-Results: smtp2.osuosl.org (amavisd-new); dkim=pass (2048-bit key) header.d=voskuil-org.20150623.gappssmtp.com Received: from smtp2.osuosl.org ([127.0.0.1]) by localhost (smtp2.osuosl.org [127.0.0.1]) (amavisd-new, port 10024) with ESMTP id SKUWqaZtW8Cl for ; Sat, 10 Jul 2021 01:49:38 +0000 (UTC) X-Greylist: whitelisted by SQLgrey-1.8.0 Received: from mail-pj1-x1035.google.com (mail-pj1-x1035.google.com [IPv6:2607:f8b0:4864:20::1035]) by smtp2.osuosl.org (Postfix) with ESMTPS id B487A400CC for ; Sat, 10 Jul 2021 01:49:38 +0000 (UTC) Received: by mail-pj1-x1035.google.com with SMTP id b8-20020a17090a4888b02901725eedd346so7042113pjh.4 for ; Fri, 09 Jul 2021 18:49:38 -0700 (PDT) DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=voskuil-org.20150623.gappssmtp.com; s=20150623; h=from:to:cc:references:in-reply-to:subject:date:message-id :mime-version:content-transfer-encoding:thread-index :content-language; bh=ZwjX/4U1dZBzWUJ5peWXC7J1ndEhQ/I61g0mUNl5ttc=; b=WHjpOWiOYrOvWNejh4f9KSoJccrpcGUtvxw6p1ldyctyr9rTDIvH7qnjKskAj5+lwk U1Uo6OrtcEnvR2g8scyfc5BaHl/8LEr2kFE7ioMwMz1veaiDlk8YKTAgcu5MJtWN/O8h huAaU61v8XduSE0WPyZtwXAluFqB1wCaYo8tXuu/OVU+X+VGxNCWML1MdG8SCshslksc Czdd/Ag5iY3opFttF+PFnoRPmNak5UeLhv8iWsGhUbt1FVy9u1V/0u2was0OPxDOmP2s UTZWrrAzuX0OIyzD8/sTgnuc5pSo9YZUuK3rmbNoowUjvFbtKbhIq+s87/OKCNpRGvNp kCAQ== X-Google-DKIM-Signature: v=1; a=rsa-sha256; c=relaxed/relaxed; d=1e100.net; s=20161025; h=x-gm-message-state:from:to:cc:references:in-reply-to:subject:date :message-id:mime-version:content-transfer-encoding:thread-index :content-language; bh=ZwjX/4U1dZBzWUJ5peWXC7J1ndEhQ/I61g0mUNl5ttc=; b=YCnuZbDKGvq8IbzCR6x3zb+XruLPg7euovm2XSQp4tKmGS6OHsdiH15sd0dPRQIsGE cnxeFwpcxcEO5M2UeYT+gmIes2LOhKhDZwfxnh/hvTGnZ+AjmvKe7v6FpGP+wr4yI7la rNALQivjXLWZLEH+Mj8G4SyuVn4zqZ+yMa5FJ1vZJF0pe4GHPRE8/vxOazDhv9jd1+Cm zLlZjv2Qv5F10K9GHoZbr50CMWTyHuKoDbd2ghQeyRmYIXLxRagLrVZ3kDDDXFRDh0vY 3zJn1tbPc9J9Rpi35dfBKybNN92OCb2PGO+1vX3SyRpiErcS27xX4bOyr5GpiZ/JtT3G lgZw== X-Gm-Message-State: AOAM531qWLKjLuf8hPaI1BiKhAK2memJKD+eyif/7BPFSKB2MkfFZaC4 FZRrcBLTxtS+IGU5nZubJ58gxQ== X-Google-Smtp-Source: ABdhPJyvj3JMslfIcJbcCYqEGuNwEYPyVNDGx7lZXzspBoKIGxt+6KI47+/nsSuv99gd5qYEsnPQGA== X-Received: by 2002:a17:90b:1995:: with SMTP id mv21mr1769773pjb.186.1625881777945; Fri, 09 Jul 2021 18:49:37 -0700 (PDT) Received: from ERICDESKTOP ([2601:600:9c00:1d0::cccf]) by smtp.gmail.com with ESMTPSA id 10sm7539872pjc.41.2021.07.09.18.49.37 (version=TLS1_2 cipher=ECDHE-ECDSA-AES128-GCM-SHA256 bits=128/128); Fri, 09 Jul 2021 18:49:37 -0700 (PDT) From: To: "'ZmnSCPxj'" References: <00e201d77518$b8ed8e00$2ac8aa00$@voskuil.org> <00fb01d77525$7e9913c0$7bcb3b40$@voskuil.org> In-Reply-To: Date: Fri, 9 Jul 2021 18:49:37 -0700 Message-ID: <010201d7752d$d78f7480$86ae5d80$@voskuil.org> MIME-Version: 1.0 Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable X-Mailer: Microsoft Outlook 16.0 Thread-Index: AQJUZ/TNyto1vPqYi1vmX7jHk2R5NgIRlp6GAW5tfHcBo0dHWQHbD7oNqgmYp7A= Content-Language: en-us Cc: 'Bitcoin Protocol Discussion' , 'Billy Tetrud' Subject: Re: [bitcoin-dev] Proof of reserves - recording X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.15 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Sat, 10 Jul 2021 01:49:39 -0000 All reasonable. e > Okay, it seems to me that what you are saying is something like this: >=20 > > Proof-of-reserves would (partially) work for a "pure" warehousing = service > (i.e. user pays some fee, service keeps money and provides proofs that > money is kept). > > However, "pure" warehousing is not what a typical exchange does = (else > the explicit fees in their exchanges would be higher), as it takes on = risk due > to having to deal with non-Bitcoin monopoly money (by definition, = since they > are *exchanges*). > > Further, with Bitcoin you can be your own warehouse (including = Green-like > multisig schemes where you own your own keys that are part of the > scheme), which is an alternative choice to hiring a "pure warehouse" = (i.e. > Safe Deposit). >=20 > Would that be a fair (if somewhat rough and undetailed) restatement? >=20 > Regards, > ZmnSCPxj