I think it's a silly expenditure, and we already have the bitcoin-otc trust web, so I think that need is served.
Topic: Trusting sellers of LARGE amounts of Bitcoins - page 2. (Read 2918 times)
Some people would prefer it though. Just because you don't like something doesn't mean others wouldn't
I think it's a silly expenditure, and we already have the bitcoin-otc trust web, so I think that need is served.
I think it's a silly expenditure, and we already have the bitcoin-otc trust web, so I think that need is served.
I dislike the idea of using the courts to enforce claim.
I was thinking that one of the biggest obstacles to people getting very much money into the Bitcoin economy is having to trust a total stranger...
you can either send lots of cash to somebody you've never heard of, or to a website you've never heard of... it would turn a lot of people off for large dollar amounts.
I would like to present an idea of a trustworthy way to clinch a large Bitcoin deal, in a manner that leaves the buyer with good legal recourse assuming the seller didn't deliver. It's crypto-based, but also something that is likely to be recognized by the courts since they use this themselves: good old Adobe PDF.
Specifically, digitally signed using PDF's built in facilities (which requires getting a third party to issue you a certificate and key). When you buy a key, you don't even get to see the private key. It's generated and delivered on a USB hardware crypto token which does the signing for you. This makes signed PDF's airtight against the defense, "someone hacked my machine and stole my private key".
So, someone would still be sending lots of USD to someone they've never heard of, but they'd have a pretty decent shot at suing them if they were to be ripped off. That would make the sort of person with lots of money to buy BTC much more comfortable.
Anyone who is willing to pay about $450 for an Adobe-recognized USB digital certificate (in addition to buying the full blown Adobe Acrobat) can issue Certified PDF's that will be recognized as such from within the free Adobe Reader. Would be a good expense for someone who sold big BTC regularly.
Here is an example certified PDF.
The fact that Adobe Certified PDF natively supports third party crypto-based time stamps is a nice plus. It's built in and automatic as long as you have an internet connection when you sign a document.
https://casascius.com/AgreementToDeliverBitcoins.pdf
Comments Requested.
EDIT: to update URL since I no longer have the static IP in prior revisions of the post.
you can either send lots of cash to somebody you've never heard of, or to a website you've never heard of... it would turn a lot of people off for large dollar amounts.
I would like to present an idea of a trustworthy way to clinch a large Bitcoin deal, in a manner that leaves the buyer with good legal recourse assuming the seller didn't deliver. It's crypto-based, but also something that is likely to be recognized by the courts since they use this themselves: good old Adobe PDF.
Specifically, digitally signed using PDF's built in facilities (which requires getting a third party to issue you a certificate and key). When you buy a key, you don't even get to see the private key. It's generated and delivered on a USB hardware crypto token which does the signing for you. This makes signed PDF's airtight against the defense, "someone hacked my machine and stole my private key".
So, someone would still be sending lots of USD to someone they've never heard of, but they'd have a pretty decent shot at suing them if they were to be ripped off. That would make the sort of person with lots of money to buy BTC much more comfortable.
Anyone who is willing to pay about $450 for an Adobe-recognized USB digital certificate (in addition to buying the full blown Adobe Acrobat) can issue Certified PDF's that will be recognized as such from within the free Adobe Reader. Would be a good expense for someone who sold big BTC regularly.
Here is an example certified PDF.
The fact that Adobe Certified PDF natively supports third party crypto-based time stamps is a nice plus. It's built in and automatic as long as you have an internet connection when you sign a document.
https://casascius.com/AgreementToDeliverBitcoins.pdf
Comments Requested.
EDIT: to update URL since I no longer have the static IP in prior revisions of the post.
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