I always use coin control. All escrows should, or something like it. (Separate physical wallets or separate wallet files also works.)
I've been having a think about this in another thread - this is talking abut a third party generating a vanity wallet, however, it's application for the transfer of funds or goods has application. (If the Escrow is set up to do this)
Had a think about the farming work out for week(s) at a time work: You ( shorena ) are contacted by a person wanting work that will take one or more weeks to solve. You contact me to see if I am interested and I send you a
Part Public key of mine which you generate a key with the prefix (something memorable ) for example...
1TL2o67 or
12o67TL (the latter I estimate to take about
15 mins at 11MKeys/sec to reach 50% mark) You advise the person requesting work of this wallet address and they pay the
full amount into that wallet.
You advise me of the wallet address and I confirm payment via
http://blockchain.info/address/12o67TLetcETC and begin mining with the details provided using the third parties
Part Public Key. When I find the required solution, I send the found
Part Private Key to you ( shorena ), you forward to the client who confirms it's validity.
You then send me the part Part Private Key for the
1TL2o67 / 12o67TL wallet and from those funds I then send you a small token agreed to previously.
for example...
You have reinvented escrow, very nice!
One suggestion though: get a shorter prefix, like 1Time. It's 30 times faster to find, you don't want it to take hours if the 15 minutes for 50% turns out to be unlucky.
for example...
You have reinvented escrow, very nice!
One suggestion though: get a shorter prefix, like 1Time. It's 30 times faster to find, you don't want it to take hours if the 15 minutes for 50% turns out to be unlucky.
True
was instantaneous even with the Part Public Key I used - I thought for the example I'd use something a little more identifiable with my own account instead of just
12345 or
1234567
1abcd
1abcdef
With a random generator I could have said
1TX4s4
1HGYti
1htbLL
19meDb
1bHcXM
1Wxn8J
17vYSO
which would leave the client clueless as to who was doing the actual mining. I feel with a shortened moniker this would allay any concerns about a self escrowing scam being committed...
To transpose this into the transfer of crypto to fiat, Regardless of which one is contacting the Escrow , the escrow either asks the seller or buyer for a Part Public Key depending on who is receiving what...
(and PayPal is a reversible method of payment)
small token agreed to previously
means the escrow can request a fee or donation for doing this.
Thanks for reading...
Or what can be reached with it. What the advantage against multisig would be, for example. The things to do sound similar time intensive like multisig. Three parties involved, all three parties have to do something. And would it cost something to mine for such vanity keys or is it practically free now?
