What's a "shared adress"? | Bitcointalksearch.org

melisande

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Quote from: ranochigo on August 22, 2014, 08:38:19 AM

Quote from: montello on August 22, 2014, 07:09:25 AM

I am not really bothered by such stuff because i do not visit such sites no matter the offer on ground.

You have to visit one of those site no matter what. Every single casino and exchanges give you an address to deposit but not a private key(obviously). When using such services, you have to deposit your coins into the account first and the wallet is usually shared. The database would update automatically whenever a deposit, bet and withdrawal is made so the coins would be sent to a shared wallet first. When you request a withdrawal, the system would then send your withdrawal from a shared address. A good idea would be putting small amounts into the service or placing the BTC there for a short term. This migrates much of the risk.

If you say it's worth it, i will certainly check it out.

ranochigo

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Quote from: montello on August 22, 2014, 07:09:25 AM

I am not really bothered by such stuff because i do not visit such sites no matter the offer on ground.

You have to visit one of those site no matter what. Every single casino and exchanges give you an address to deposit but not a private key(obviously). When using such services, you have to deposit your coins into the account first and the wallet is usually shared. The database would update automatically whenever a deposit, bet and withdrawal is made so the coins would be sent to a shared wallet first. When you request a withdrawal, the system would then send your withdrawal from a shared address. A good idea would be putting small amounts into the service or placing the BTC there for a short term. This migrates much of the risk.

abora

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The main issue here is the risk involved which i am particularly not ready to take.

Yuki1988

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Quote from: montello on August 22, 2014, 07:09:25 AM

I am not really bothered by such stuff because i do not visit such sites no matter the offer on ground.

The problem does not confined to the use of mixer.
The major issue of shared addresses and shared wallets is that the users don't have the private keys. So when the exchange or casino goes down, the users will lose their bitcoin.

montello

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I am not really bothered by such stuff because i do not visit such sites no matter the offer on ground.

ranochigo

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Quote from: Chemistry1988 on July 20, 2014, 01:44:58 AM

Quote from: ranochigo on July 20, 2014, 01:42:24 AM

Shared address are address which are shared among some users. They can be from a online wallet, exchange or other gaming platforms, they are not controlled by you and if you win, the system may send it back to the address which you do not control and the amount will not be credited to your exchange or wallet account.

Exactly.

But isn't bitcoinfog a mixer? Why couldn't the user send bitcoin from the mixer to his/her deposit address of an exchange or gambling site?

My guess is that if any verification is needed, the user may have to sign the address to prove that he own the address.

Rusk1

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Thank you ranochigo. I don't use any of that so i should be fine

Chemistry1988

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Quote from: ranochigo on July 20, 2014, 01:42:24 AM

Shared address are address which are shared among some users. They can be from a online wallet, exchange or other gaming platforms, they are not controlled by you and if you win, the system may send it back to the address which you do not control and the amount will not be credited to your exchange or wallet account.

Exactly.

But isn't bitcoinfog a mixer? Why couldn't the user send bitcoin from the mixer to his/her deposit address of an exchange or gambling site?

ranochigo

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Crypto Swap Exchange

Shared address are address which are shared among some users. They can be from a online wallet, exchange or other gaming platforms, they are not controlled by you and if you win, the system may send it back to the address which you do not control and the amount will not be credited to your exchange or wallet account.

Rusk1

newbie

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Yes, a stupid newbie question for sure, but i don't know what it means

For example, i want to use BitCoinFog and it says "Do not send money directly from the Fog to shared addresses".

I want to make sure i'm not doing something wrong.

Many thanks!

Topic: What's a "shared adress"? (Read 1180 times)