Are you trying to promote something?
The problem with sending btc to wrong addresses will continue forever,but there's a solution.
It's called "double checking the address before sending any BTC".
It's genius,isn't it.
Topic: What can be done to stop loss sending to wrong bitcoin address - page 4. (Read 558 times)
December 10, 2019, 03:20:09 AM
What's that suspicious link that was removed from your post,OP
Are you trying to promote something?
The problem with sending btc to wrong addresses will continue forever,but there's a solution.
It's called "double checking the address before sending any BTC".
It's genius,isn't it.
Are you trying to promote something?
The problem with sending btc to wrong addresses will continue forever,but there's a solution.
It's called "double checking the address before sending any BTC".
It's genius,isn't it.
December 10, 2019, 03:14:40 AM
most of the ways that users could send to a wrong address involve having a malware on their computer, in which case these users are also susceptible to a lot of different attacks and can lose their money in much easier ways than simply sending to a wrong unintended address. your solution is also not going to solve anything, the same malware can intercept the communication between A and B and change the address to its own.
other ways that involve user typing in a wrong address are already protected by the checksum that each address has in place which means they won't be able to pay to a wrong address because of typos.
other ways that involve user typing in a wrong address are already protected by the checksum that each address has in place which means they won't be able to pay to a wrong address because of typos.
December 10, 2019, 02:53:51 AM
A 2 way check system can be this way,
I- Mr A about to send Bitcoin to Mr B using protocol safe
II- Mr B opens a allow protocol safe using either senders address or generates an option notifying incoming bitcoin to his wallet and amount
III- Mr A Sends bitcoin to Mr B
III- Mr A protocol checks to see if Mr B's protocol is expecting and if Yes, [Suspicious link removed]ives Mr B, if not bitcoin goes back to Mr A.
Lets say the copy and paste malware attacked and changed address while Mr A paste to the system then btc will be returned and no harm.
I- Mr A about to send Bitcoin to Mr B using protocol safe
II- Mr B opens a allow protocol safe using either senders address or generates an option notifying incoming bitcoin to his wallet and amount
III- Mr A Sends bitcoin to Mr B
III- Mr A protocol checks to see if Mr B's protocol is expecting and if Yes, [Suspicious link removed]ives Mr B, if not bitcoin goes back to Mr A.
Lets say the copy and paste malware attacked and changed address while Mr A paste to the system then btc will be returned and no harm.
I may have missed something however, it's not clear how this could help.
Clearly Mr B will not spend time checking if money is about to come and allow it, it would be a huge overload for shops, for example.
So an automation will have to be done in a way or another. And this makes all that workflow useless.
But, for the sake of discussion, let's say the automation is not done.
What stops the sender be careless twice when sending out the money?
December 10, 2019, 02:41:22 AM
Never supported banks/Financial Institution although it's cut from an easy cloth then ruled by people known as the government, track and trace us like we are some courier shipment but then again the one perfect thing they have is the ability to see the other end via communication, able to retrieve wrong transfers or sent to wrong account which is something that does not happen often in the banking system.
There should be a way to actually create a stop send if the receiving address does not exist or does not actually belong to the intended recipient, bitcoin is built better and it's ability to prevent charge backs makes it even more perfect and we all own control to our address except for those that decides to give the power over to exchangers by storing their coins there.
A step should be taken to make it easy for bitcoin to become acceptable everywhere by everyone old and young, there should be a safeguard because right now those of us that use cryptos know to some extent how to walk around the system, what the wallet is, what a btc address is, private keys and public keys but there are millions out there that do not want to get involved for the fear that they will lose their money, their coins, either to scammers, hackers or clumsiness, we all heard the story of people losing their computer and bitcoin along with it, others forgetting their passwords, this makes bitcoin scary to lots of people and because of the news they never want to get involved.
We should be working a system that makes this easy for this new comers, with too many recent technology coming out the days and very much advanced from finger print phone system to free phone cloud system dedicated free to phone owners we should work out a way to safe guard bitcoin better than it is right now, a system in the cloud that calls back bitcoin from anywhere using more than a finger print, a system that will be able to search and locate your bitcoin using certain protocol regardless if your phone is lost computer damaged, password forgotten without having the knowledge of private keys, public keys and many others, a way for a working mom to see through and get her bitcoin back without needing tech support, this is not all.
Bitcoin sent to wrong address because of the copy and past malware can be avoided, maybe a system that checks two ways to see that the btc is being sent to the intended recipient and if the address happens not to be existing and yet the bitcoin manages to enter the network instead of being lost forever or taking unspecified time to return back to the sender address there should somehow be a way to have a force push back to the senders address maybe within 3 working days at most, this will at least give people rest of mind when dealing with btc, sending to the wrong address right now means btc lost forever and this thought scares lots of people and this is one of the major reasons lot's of less computer skilled people tend to avoid bitcoin at all cost.
A 2 way check system can be this way,
I- Mr A about to send Bitcoin to Mr B using protocol safe
II- Mr B opens a allow protocol safe using either senders address or generates an option notifying incoming bitcoin to his wallet and amount
III- Mr A Sends bitcoin to Mr B
III- Mr A protocol checks to see if Mr B's protocol is expecting and if Yes, [Suspicious link removed]ives Mr B, if not bitcoin goes back to Mr A.
Lets say the copy and paste malware attacked and changed address while Mr A paste to the system then btc will be returned and no harm.
This goes the same to for sending to the wrong address, there can also be an option to notify the address owner that bitcoin was wrongly sent to you, reply or return at least we won't have to say maybe the owner of the wallet did not realize someone sent his btc mistakenly.
This are just examples and there is much more, but my reason for getting this to our attention is because this is a real issue, if bitcoin is to be the currency our kids will use it too, our grand mothers will too, they will have to buy grocery with it someday, pay for taxi rides, buy houses and more, so it is time we start thinking on how to make it easy so even our young kids in High school and below will be able to buy lunch in school using bitcoin and not losing access to their bitcoin or losing the family entire savings because a hacker got access to the kids phone and wiped the whole family our of their precious money, that will be very bad publicity for the image of bitcoin.
Please share your thoughts, i have a'lot to say but i figured an easy read is better and we all get our head together to make this work, it will also be a multi million idea for someone who has the resources to do such a system,i for one don't have that kind of resources to make this work but many users on this forum do have that kind of resources and i encourage that they think deeper more than i have to create something better than banks so that bitcoin will be accepted faster and everyone will feel safe around it.
There should be a way to actually create a stop send if the receiving address does not exist or does not actually belong to the intended recipient, bitcoin is built better and it's ability to prevent charge backs makes it even more perfect and we all own control to our address except for those that decides to give the power over to exchangers by storing their coins there.
A step should be taken to make it easy for bitcoin to become acceptable everywhere by everyone old and young, there should be a safeguard because right now those of us that use cryptos know to some extent how to walk around the system, what the wallet is, what a btc address is, private keys and public keys but there are millions out there that do not want to get involved for the fear that they will lose their money, their coins, either to scammers, hackers or clumsiness, we all heard the story of people losing their computer and bitcoin along with it, others forgetting their passwords, this makes bitcoin scary to lots of people and because of the news they never want to get involved.
We should be working a system that makes this easy for this new comers, with too many recent technology coming out the days and very much advanced from finger print phone system to free phone cloud system dedicated free to phone owners we should work out a way to safe guard bitcoin better than it is right now, a system in the cloud that calls back bitcoin from anywhere using more than a finger print, a system that will be able to search and locate your bitcoin using certain protocol regardless if your phone is lost computer damaged, password forgotten without having the knowledge of private keys, public keys and many others, a way for a working mom to see through and get her bitcoin back without needing tech support, this is not all.
Bitcoin sent to wrong address because of the copy and past malware can be avoided, maybe a system that checks two ways to see that the btc is being sent to the intended recipient and if the address happens not to be existing and yet the bitcoin manages to enter the network instead of being lost forever or taking unspecified time to return back to the sender address there should somehow be a way to have a force push back to the senders address maybe within 3 working days at most, this will at least give people rest of mind when dealing with btc, sending to the wrong address right now means btc lost forever and this thought scares lots of people and this is one of the major reasons lot's of less computer skilled people tend to avoid bitcoin at all cost.
A 2 way check system can be this way,
I- Mr A about to send Bitcoin to Mr B using protocol safe
II- Mr B opens a allow protocol safe using either senders address or generates an option notifying incoming bitcoin to his wallet and amount
III- Mr A Sends bitcoin to Mr B
III- Mr A protocol checks to see if Mr B's protocol is expecting and if Yes, [Suspicious link removed]ives Mr B, if not bitcoin goes back to Mr A.
Lets say the copy and paste malware attacked and changed address while Mr A paste to the system then btc will be returned and no harm.
This goes the same to for sending to the wrong address, there can also be an option to notify the address owner that bitcoin was wrongly sent to you, reply or return at least we won't have to say maybe the owner of the wallet did not realize someone sent his btc mistakenly.
This are just examples and there is much more, but my reason for getting this to our attention is because this is a real issue, if bitcoin is to be the currency our kids will use it too, our grand mothers will too, they will have to buy grocery with it someday, pay for taxi rides, buy houses and more, so it is time we start thinking on how to make it easy so even our young kids in High school and below will be able to buy lunch in school using bitcoin and not losing access to their bitcoin or losing the family entire savings because a hacker got access to the kids phone and wiped the whole family our of their precious money, that will be very bad publicity for the image of bitcoin.
Please share your thoughts, i have a'lot to say but i figured an easy read is better and we all get our head together to make this work, it will also be a multi million idea for someone who has the resources to do such a system,i for one don't have that kind of resources to make this work but many users on this forum do have that kind of resources and i encourage that they think deeper more than i have to create something better than banks so that bitcoin will be accepted faster and everyone will feel safe around it.
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