Make sure the message you have them sign is descriptive enough that they can't trick others into signing the message.
Examples:
Don't ask for a signature of the following message: "I have control of this address"
Instead ask for a signature of the following message: "I am providing a signature of this message to prove control of more than 1000 BTC which will be used in a future transaction with jimbursch. Here is the list of addresses that will be used to sign the message: 1myfirstaddress, 1mysecondaddress, 1mythirdaddress, etc"
Topic: How do I verify 1000 BTC balance? - page 2. (Read 2200 times)
He can sign messages with addresses containing the bitcoins
Have the other party sign a message with the addresses that contain (significant parts) of his balance. You can then verify that he controls the addresses and use Blockchain.info to look up the balances.
This.
Have the other party sign a message with the addresses that contain (significant parts) of his balance. You can then verify that he controls the addresses and use Blockchain.info to look up the balances.
At this point we don't need to execute a 1000 BTC transaction -- I just want to verify that this person is honest in his claim to have 1000 BTC. Sort of like a credit check.
He can sign messages with addresses containing the bitcoins
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I am considering doing business with someone who claims to have 1000 BTC. What would be the simplest/easiest way to verify that this person indeed has 1000 BTC?
Here's my idea on how to do it:
Step 1: He gives me an address that shows a 1000BTC incoming transaction that is verified in the block chain.
Step 2: He then sends me a small transaction amount from that address to prove that he owns the address.
I think step 1 could be problematic. He probably doesn't have 1000BTC in one transaction -- he probably doesn't have 1000 BTC in one wallet.
Is there a simpler/easier way?
Here's my idea on how to do it:
Step 1: He gives me an address that shows a 1000BTC incoming transaction that is verified in the block chain.
Step 2: He then sends me a small transaction amount from that address to prove that he owns the address.
I think step 1 could be problematic. He probably doesn't have 1000BTC in one transaction -- he probably doesn't have 1000 BTC in one wallet.
Is there a simpler/easier way?
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