Can the funds/and or account on Mymonero.com be locked or removed/destroyed by Mymonero.com Admin? If indeed I created the account there.
You guys may see where I'm going with this but maybe not.
no they cant. they have your viewkey which means they are able to see your transactions.
but they cant "destroy" or steal your funds as they never have your spent-key (just like blockchain.info)
I have a question about MyMonero.com:
There is no way for me to get my coins from an account created there unless I send them from that account correct?
Yes, correct. As of today, If you created your account there, then you can only access your funds using MyMonero. At some point you may be able to import your keys from MyMonero in simplewallet, but that's not possible today.
On the other hand, what you can do right now is create a new wallet with simplewallet, login to MyMonero with your seed from simplewallet. Tell MyMonero to NOT import your previous transactions. Login to your original MyMonero account and transfer your funds to your new account created with simplewallet seed. That way you'll be able to use that new wallet with either MyMonero or simplewallet or any of the available GUI wallets (that rely on simplewallet).
Thank you, I wanted to make sure before I followed the line of thinking I was on. Now my second question is:
Can the funds/and or account on Mymonero.com be locked or removed/destroyed by Mymonero.com Admin? If indeed I created the account there.
You guys may see where I'm going with this but maybe not.
I have a question about MyMonero.com:
There is no way for me to get my coins from an account created there unless I send them from that account correct?
Yes, correct. As of today, If you created your account there, then you can only access your funds using MyMonero. At some point you may be able to import your keys from MyMonero in simplewallet, but that's not possible today.
On the other hand, what you can do right now is create a new wallet with simplewallet, login to MyMonero with your seed from simplewallet. Tell MyMonero to NOT import your previous transactions. Login to your original MyMonero account and transfer your funds to your new account created with simplewallet seed. That way you'll be able to use that new wallet with either MyMonero or simplewallet or any of the available GUI wallets (that rely on simplewallet).
Thank you, I wanted to make sure before I followed the line of thinking I was on. Now my second question is:
Can the funds/and or account on Mymonero.com be locked or removed/destroyed by Mymonero.com Admin? If indeed I created the account there.
You guys may see where I'm going with this but maybe not.
They can't touch your funds. But if for any reason MyMonero becomes unavailable and you created your account over there, then you wouldn't be able to access your funds until someone implements a way to import your keys from MyMonero into simplewallet, or until MyMonero comes back online. That wouldn't be the case if you login with a seed from simplewallet into MyMonero.
This is untrue. If you use MyMonero, just backup your viewkey and spendkey, and you will always be able to recover your funds.
This is untrue. If you use MyMonero, just backup your viewkey and spendkey, and you will always be able to recover your funds.
They can't touch your funds. But if for any reason MyMonero becomes unavailable and you created your account over there, then you wouldn't be able to access your funds until someone implements a way to import your keys from MyMonero into simplewallet, or until MyMonero comes back online. That wouldn't be the case if you login with a seed from simplewallet into MyMonero.
AND this here is the Crux on my question. MyMonero can Lock or remove access to those funds that were created with the key on their site. Now while some may think this is compromising of a trust-less system (it is) By generating a Key with the simple wallet first will bypass this as you guys have affirmed.
So now that this has all been fleshed out in my mind, here is my thought.
MyMonero can be used as an Escrow system where the Funds can be locked. Correct?
Create a wallet and a second login user for depositor (Site would have to guarantee wallet was created through site).
Second user added by wallet creator allowed to release (this would be the depositor)
Wallet funded by added second account (which has no clue of seed) only a unlock passphrase
User releases Lock when goods received.
A semi trustless system as the MyMonero admin is trusted in this case. No different than using Admin (Fluffy right?) as an escrow only his involvement will not be needed except to handle disputes.
