📅 Original date posted:2013-06-05
📝 Original message:So, this
http://www.americanbanker.com/bankthink/the-last-straw-for-bitcoin-1059608-1.html?pg=1
article got posted today, noting that FinCEN thinks irrevocable
payments
are money laundering tools.
I will hold my thoughts about the net social good of rent-seeking large
corporations taking money from consumers over fraudulent reversals.
Actually, I won't, I just said it.
At any rate, it got me thinking, can we layer on revocability somehow
without any protocol change, as an opt-in?
My initial scheme is a trusted (hah) escrow service that issues time
promises for signing. If it doesn't receive a cancel message, it will sign
at the end of the time.
The addresses would be listed by the escrow service, or in an open
registry, so you could see if you were going to have a delay period when
you saw a transaction go out.
This seems sort of poor to me, it imagines that mythical thing, a trusted
escrow service, and is vulnerable to griefing, but I thought I'd see if
some of the brighter minds than me can come up with a layer-on approach
here.
When I think about it, I can imagine that I would put a good number of my
coins in a one day reversible system, because I would have warning if
someone wanted to try and spend them, and could do something about it. I'm
not sure if it gets me anything over a standard escrow arrangement, though.
Peter
--
------------------------------
[image: CoinLab Logo]PETER VESSENES
CEO
*peter at coinlab.com * / 206.486.6856 / SKYPE: vessenes
71 COLUMBIA ST / SUITE 300 / SEATTLE, WA 98104
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Peter Vessenes [ARCHIVE] /
npub1ez…6r8pt
2023-06-07 15:02:48
in reply to nevent1q…6m5k
Author Public Key
npub1ezg54d03a7unwu0fckmlugxulukrg06x7jzx4engngxfg79sfcqsn6r8ptPublished at
2023-06-07 15:02:48Event JSON
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"created_at": 1686150168,
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"content": "📅 Original date posted:2013-06-05\n📝 Original message:So, this\nhttp://www.americanbanker.com/bankthink/the-last-straw-for-bitcoin-1059608-1.html?pg=1\narticle got posted today, noting that FinCEN thinks irrevocable\npayments\nare money laundering tools.\n\nI will hold my thoughts about the net social good of rent-seeking large\ncorporations taking money from consumers over fraudulent reversals.\nActually, I won't, I just said it.\n\nAt any rate, it got me thinking, can we layer on revocability somehow\nwithout any protocol change, as an opt-in?\n\nMy initial scheme is a trusted (hah) escrow service that issues time\npromises for signing. If it doesn't receive a cancel message, it will sign\nat the end of the time.\n\nThe addresses would be listed by the escrow service, or in an open\nregistry, so you could see if you were going to have a delay period when\nyou saw a transaction go out.\n\nThis seems sort of poor to me, it imagines that mythical thing, a trusted\nescrow service, and is vulnerable to griefing, but I thought I'd see if\nsome of the brighter minds than me can come up with a layer-on approach\nhere.\n\nWhen I think about it, I can imagine that I would put a good number of my\ncoins in a one day reversible system, because I would have warning if\nsomeone wanted to try and spend them, and could do something about it. I'm\nnot sure if it gets me anything over a standard escrow arrangement, though.\n\nPeter\n\n-- \n\n------------------------------\n\n[image: CoinLab Logo]PETER VESSENES\nCEO\n\n*peter at coinlab.com * / 206.486.6856 / SKYPE: vessenes\n71 COLUMBIA ST / SUITE 300 / SEATTLE, WA 98104\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20130605/a980c720/attachment.html\u003e",
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}