Topic: How the hell does bitcoin-otc work? - page 2. (Read 3025 times)

You will want to generate a new address and private key you use to register/auth every time to Gribble, but not receive BTC at. Go to bitaddress.org and save what the first page shows. Then go to http://brainwallet.org/#sign - input the private key from bitaddress, paste the message from Gribble, sign it, and paste the signature back to Gribble.

Hi,

I'm noob

I've been following this walkthrough to register: http://wiki.bitcoin-otc.com/wiki/Bitcoin_address_authentication

Now I'm stuck halfway through....

I have a response from gribble but my client is Multibit, and it's making the following instruction impossible I think:

"On the 'Receive coins' tab of the bitcoin client, select the signing address, and click the 'Sign message' button. Copy and paste the challenge string, click "Sign message", copy the signed message with the "Copy to clipboard" button, then give the result to the bot with the 'bcverify' command, as follows:"

I can't see anything like a receive coins tab in MultiBit.

Can I finish my verification on another bit of software or is it better to start over?


Thanks in anticipation,
ManS

Thank you. I'll add the caveat that I haven't taken the time to do OTC myself, but I use the same software to keep my email private that OTC uses for authentication and used some IRC before.

Thanks, got the .1.
I'm still confused as of where you are though - are you registered yet? (via PGP in the #bitcoin-otc database)
The hardest part IMO is the registering part - you'll have to figure out the PGP stuff first. Honestly, it's easier if you use a GUI based client like Cryptophane which simplifies the PGP part. Get it here: http://code.google.com/p/cryptophane/

Ok ok.

Thanks to john for the step by step. Honestly, I was still lost after I read it.

But then...

Artuk came with the explanation for simpletons (i.e. me) and now the step by step makes a bit more sense.

Anyway, thank you to you both. I sent .1 BTC to each of you.

Thanks again. I'm gonna try my hand at this.

It's an IRC chat channel. I know that makes it sound something like a chatroom, but it is more like a news discussion from the pre-September era of the internet. The bitcoin-otc channel isn't the big concern right now, it will take some time lurking on there to see how it really works and get the feel for the pace that transactions happen.

The important part is getting registered with an OTC web of trust rating.

• Start by getting GPG set up, this page has a good detailed guide, but if you are on Windows or Mac use one of the third party guides it links to http://wiki.bitcoin-otc.com/wiki/GPG_authentication
• This page has instructions on what you will be doing on the web of trust http://wiki.bitcoin-otc.com/wiki/OTC_Rating_System
• Here's where I found the links to those pages http://bitcoin-otc.com/trust.php

Getting this all set up is a hassle, but it is secure. It keeps people from hijacking your reputation.  The catch is that reputation takes a while to build and most people don't use OTC anyways. OTC isn't for most people though. It's for the whales and people who aspire to be whales, seeing you post history it looks like this might be awfully appropriate for you as you seem to be in that latter category.

Edit: It looks like I got beat to the punch on the mechanics of WOT as I was writing this.

Commands for use after you've registered:

http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc#Order_book_guide
http://wiki.bitcoin-otc.com/wiki/Using_bitcoin-otc#Trading

Go get a good PGP client and generate your own PGP key first. Try Kleopatra or Cryptophane (that's what I use on Windows)

Then (skip to 5 if you're using a GUI based client like Cryptophane):
(copy and pasted from an old guide I had laying around to teach newbies)

Bitcoin-otc quickstart guide
Here's how to get quickly up and trading on bitcoin-otc on Ubuntu.

1) First off, connect to the IRC channel here. Choose a username.

2) Start a private chat with the gribble bot, in the IRC window, so you don't flood the channel messing about. All future IRC commands are to be entered into this private chat with gribble.

/msg gribble ;;help

3) Generate a gpg key (if you don't already have one). See here for details. At a command prompt, type:

gpg --gen-key

4) Publish your key.

gpg --list-keys --keyid-format long

Look for something like:

pub 4096R/46ED38A2A668A578 2011-02-18

Take the 16 digits following the slash, that's the KeyID. Now push:

gpg --send-keys --keyserver pgp.surfnet.nl 46ED38A2A668A578
gpg --send-keys --keyserver pgp.mit.edu 46ED38A2A668A578


5) Register with gribble, back in the IRC chat window with gribble:

;;gpg eregister Nick KeyID

After registering, use eauth to authenticate


;;gpg eauth BobJones


6) Gribble will spit back a http:// url. Copy that and run (if you're using commandline):
wget -O - http://bitcoin-otc.com/otps/46ED38A2A668A578 | gpg --decrypt

else(using GUI):
Navigate to that site and copy the text. Paste in the 'Message' tab and decrypt it.

7) Now take the output and verify with gribble:

;;gpg everify freenode:#bitcoin-otc:6132ffd1c3c4468e40303d844f3e30661bc34617054f7cc5e3fa03c8b41c376e

You should now be authenticated! Happy trading! Some useful gribble commands:

See the current exchange rate:

;;bc,mtgox

See orders for canadian dollars:

;;book cad

Privately message someone online:

/msg BobJones

Leave a message for someone offline:

;;later tell BobJones Hey there big guy!


edit: added GUI stuff.

I feel kind of goofy because everyone on here refers to their "web of trust" rating on bitcoin-otc, yet I cannot even figure out how to use it.

I registered on there and I want to utilize it but I'm just freaking confused.

Is it just a chat room and open order book?

I read the wiki on it but I still dont get it. How to I contact buyers and sellers to set up transactions? I see no contact info there and that chat room sucks.

Someone explain please. I will donate 0.1 BTC to whomever helps me understand best.