Looking for people to store some of the forum's money - page 16.

MPOE-PR

hero member

Activity: 756

Merit: 522

Quote from: theymos on February 05, 2013, 10:12:14 PM

I am holding too much money for the forum. This is contrary to the forum's otherwise decentralized structure. I'd like to get some extremely trustworthy people to hold smaller chunks of the forum's money (maybe 250-500 BTC per person).

- You probably need to have been active in the Bitcoin community for at least a year.
- You probably need a very high OTC rating.
- You need to have dealt with far more BTC at one time than what you'll be holding for the forum.
- The list of "treasurers" and how much money they're holding will be public.
- The contract will be quite complex (I haven't finished writing it yet), as this is the forum's money, not mine, so you'll have to know what "the forum" is and in exactly which circumstances you can release the money.
- Full reserve is not a requirement, but you will be responsible for returning the money within a few weeks of a legitimate request no matter what.

If you're interested, post here with how much you would charge for this service and what your reserve policy would be.

If you deposit 1000 BTC you get a[n extremely rare] free MPEx account, whatever gpg you wish to use for it (yours, forum's, w/e). You can either keep it in there (in which case it'll just sit around and wait) or trade on it, in which case your risks are whatever you make them.

Withdrawals are processed within 48 hours (tho usually it's instant if you ping MP).

TECSHARE

legendary

Activity: 3318

Merit: 2008

First Exclusion Ever

I am willing to hold a partial key.

Matthew N. Wright

hero member

Activity: 588

Merit: 500

Hero VIP ultra official trusted super staff puppet

I agree the sentiment on split-keys and find it silly that it wouldn't be done that way first and foremost.

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Quote from: sublime5447 on February 06, 2013, 01:37:18 AM

What if one of the members die? the funds are just lost?

This is precisely why the 2of3 scheme would be optimal. What if theymos died right now? Surely we'd rather distribute therefore minimize our losses.

sublime5447

legendary

Activity: 966

Merit: 1000

What if one of the members die? the funds are just lost?

JoelKatz

legendary

Activity: 1596

Merit: 1012

Democracy is vulnerable to a 51% attack.

I think you should try for a 100% reserve scheme where the holding addresses are publicly known. Only switch to a different scheme if you can't find enough people willing to help run a 100% reserve system. Using a 2-of-3 or similar key splitting scheme is a good idea too.

Garr255

legendary

Activity: 938

Merit: 1000

What's a GPU?

Quote from: casascius on February 05, 2013, 11:23:09 PM

I would be willing to help with this but would prefer to orchestrate a scheme where I don't have any access to take the money, but rather, have a partial key that I am trusted to release under some certain condition(s). The ideal scheme allows one or more of the participants to disappear without impacting access to the funds.

Why not do a 2-of-3 scheme where you, someone like me, and one other person has a keypart, and two people need to cooperate in order to release the funds. I have an escrow utility that does that now, it's based on EC multiplication. Any similar facility such as in Armory would be equally acceptable (especially if interested in m-of-n where m,n != 2,3).

I would not charge a fee, unless charging a fee were an essential element to make it kosher, in which case it would be 1 BTC/year.

Write me down for the same exact thing.

sounds

full member

Activity: 140

Merit: 100

1221iZanNi5igK7oAA7AWmYjpsyjsRbLLZ

I don't meet the requirements but I want to voice my support of a multi-sig m-of-n type setup.

sublime5447

legendary

Activity: 966

Merit: 1000

Sure I will hold 500 btc in storage with out a full reserve requirement. I think you need 100% reserve but can be held in any accepted currencies in predetermined ratios.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

I would be willing to hold a partial key. Honestly I think this is almost a textbook perfect example of where either on protocol multi-sig or off protocol key sharing should be used.

Narydu

donator

Activity: 743

Merit: 510

I could help! No problem with handling in my personal information. I'm trusted local trader. Prefer handling an access as cassasius prompted with a partial key, kept in an offline safe (bank). No charges unless needed.

casascius

vip

Activity: 1386

Merit: 1140

The Casascius 1oz 10BTC Silver Round (w/ Gold B)

I would be willing to help with this but would prefer to orchestrate a scheme where I don't have any access to take the money, but rather, have a partial key that I am trusted to release under some certain condition(s). The ideal scheme allows one or more of the participants to disappear without impacting access to the funds.

Why not do a 2-of-3 scheme where you, someone like me, and one other person has a keypart, and two people need to cooperate in order to release the funds. I have an escrow utility that does that now, it's based on EC multiplication. Any similar facility such as in Armory would be equally acceptable (especially if interested in m-of-n where m,n != 2,3).

I would not charge a fee, unless charging a fee were an essential element to make it kosher, in which case it would be 1 BTC/year.

fcmatt

legendary

Activity: 2072

Merit: 1001

Are all the other admins not trust worthy enough to help? Serious question.

Ryland R. Taylor-Almanza

legendary

Activity: 882

Merit: 1001

Quote from: theymos on February 05, 2013, 10:12:14 PM

I am holding too much money for the forum. This is contrary to the forum's otherwise decentralized structure. I'd like to get some extremely trustworthy people to hold smaller chunks of the forum's money (maybe 250-500 BTC per person).

- You probably need to have been active in the Bitcoin community for at least a year.
- You probably need a very high OTC rating.
- You need to have dealt with far more BTC at one time than what you'll be holding for the forum.
- The list of "treasurers" and how much money they're holding will be public.
- The contract will be quite complex (I haven't finished writing it yet), as this is the forum's money, not mine, so you'll have to know what "the forum" is and in exactly which circumstances you can release the money.
- Full reserve is not a requirement, but you will be responsible for returning the money within a few weeks of a legitimate request no matter what.

If you're interested, post here with how much you would charge for this service and what your reserve policy would be.

While I can't say I've dealt with anywhere near 750,000 BTC, I've completed a lot of successful small trades on these forums and have never scammed anyone (I usually buy with paypal, so I definitely had a lot of chances,) and I obviously don't plan to in the future. I think my biggest selling point is that I have no problem giving out my personal information. I've used my real first and last name since I registered almost two years ago (and more recently, my middle initial,) and I'm perfectly willing to give my address and phone number through PM if you'd like to talk more about it.

I would also have multiple encrypted wallet copies on multiple computers. I would almost always be able to return the BTC within a few hours.

I'm not really sure how much a service like this is worth, but 1 BTC/month sounds fine to me. Full reserve.

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: LoweryCBS on February 05, 2013, 11:04:45 PM

Fascinating! But, would not a better idea would be some type of split-key trust?

Now that Bitcoin supports multisig address it would be a shame if the most prominent Bitcoin forum didn't use them when the ideal use case presented itself.

LoweryCBS

sr. member

Activity: 364

Merit: 250

firstbits 1LoCBS

Fascinating! But, would not a better idea would be some type of split-key trust?

Kinda like: https://bitcointalksearch.org/topic/2-of-3-paper-wallets-139625

eleuthria

legendary

Activity: 1750

Merit: 1007

I would be more than happy to help theymos. Registered member for almost 2 years, and I have had ~750,000 BTC pass through BTC Guild since inception (exact records from before the pool changed to PPS aren't available to give a concrete BTC generated amount).

100% reserve available, multiple backup encrypted wallet file stored offline, and available for being returned in a short time frame (generally under 12 hours unless requested on the rare occasion where I don't have physical access to my storage for a few days). Only restriction would be I would need a very clear writeup on how requests for returning the money would be handled/authorized to ensure they don't go where they're not supposed to. Available at no charge, or a nominal amount like 1 BTC/month you want it to be a clear business arrangement.

Also, my personal information is readily available, I make no attempts to hide it [points to real name under his avatar]. And while the BTC Guild whois information is registered through a proxy, other domains [tradewithcoins.com, infocircuit.com, thoseoldgames.com] are not.

theymos

administrator

Activity: 5222

Merit: 13032

Quote from: justusranvier on February 05, 2013, 10:35:48 PM

Quote from: theymos on February 05, 2013, 10:12:14 PM

Full reserve is not a requirement

If I was one of the donators I'd be very interested in knowing the rationale for that part.

Allowing partial reserves is a reasonable alternative to paying storage fees.

justusranvier

legendary

Activity: 1400

Merit: 1013

Quote from: theymos on February 05, 2013, 10:12:14 PM

Full reserve is not a requirement

If I was one of the donators I'd be very interested in knowing the rationale for that part.

theymos

administrator

Activity: 5222

Merit: 13032

I am holding too much money for the forum. This is contrary to the forum's otherwise decentralized structure. I'd like to get some extremely trustworthy people to hold smaller chunks of the forum's money (maybe 250-500 BTC per person).

- You probably need to have been active in the Bitcoin community for at least a year.
- You probably need a very high OTC rating.
- You need to have dealt with far more BTC at one time than what you'll be holding for the forum.
- The list of "treasurers" and how much money they're holding will be public.
- The contract will be quite complex (I haven't finished writing it yet), as this is the forum's money, not mine, so you'll have to know what "the forum" is and in exactly which circumstances you can release the money.
- Full reserve is not a requirement, but you will be responsible for returning the money within a few weeks of a legitimate request no matter what.

If you're interested, post here with how much you would charge for this service and what your reserve policy would be.

Topic: Looking for people to store some of the forum's money - page 16. (Read 35711 times)