... the "Virtual Casascius" concept angle is interesting.
Topic: Never seen private key trade system/ Virtual Casascius/ self-escrow-coin SEC - page 2. (Read 2774 times)
April 30, 2013, 08:19:44 PM
Holy grail if you could figure it out .... been grinding the old grey matter on this one for over 2 years now
... the "Virtual Casascius" concept angle is interesting.
... the "Virtual Casascius" concept angle is interesting.
April 30, 2013, 08:01:49 PM
infact....this may be a problem for BITCOIN as miners would not be needed....or very rarely needed....
Even if most "general" tx's were to be handled offline like this am sure SD and its like will be keeping the miners busy.
April 30, 2013, 07:57:23 PM
so I send you a private key that I can prove I have never seen and you can verify this, and you can choose to send on or open, then use as normal
I am not sure how you can *prove* you have never seen the private key but if you assume some sort of tamper proof covering can be trusted then the other part (being sure it will work) could be handled as a signed message for the public key which can be made visible to all.
but if we could do this, it would take all the pressure of the blockchain, miners, I could just email you my SEC and you can confrim yourself everything is good!
infact....this may be a problem for BITCOIN as miners would not be needed....or very rarely needed....
April 30, 2013, 07:52:48 PM
so I send you a private key that I can prove I have never seen and you can verify this, and you can choose to send on or open, then use as normal
I am not sure how you can *prove* you have never seen the private key but if you assume some sort of tamper proof covering can be trusted then the other part (being sure it will work) could be handled as a signed message for the public key which can be made visible to all.
April 30, 2013, 07:47:05 PM
no, not like zero coin...
its more of a virtual Cassius that never has to interact with the blockchain, until opened.
so I send you a private key that I can prove I have never seen and you can verify this, and you can choose to send on or open, then use as normal
April 30, 2013, 06:22:46 AM
Could a system arise where people trade private key containing bit coins, where you can prove that private key has never been seen but will work. Thus rather than having to transact through the blockchain with the time and cost that takes, once the address it loaded up with say 1 BTC you trade the private key in its virtual Chinese box, and continue trading that box until it is opened,
then no one would accept it anymore, and everyone could determine that it had been opened, and it reverts to normal trade as the person who opened it must now send through the normal transaction.
So sort of like a virtual Casascius
Edit
Actually this system could take over from bitcoin....or be an alternate CC system
then no one would accept it anymore, and everyone could determine that it had been opened, and it reverts to normal trade as the person who opened it must now send through the normal transaction.
So sort of like a virtual Casascius
Edit
Actually this system could take over from bitcoin....or be an alternate CC system
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