Post
Topic
Board Service Announcements
Re: Bitcoin Wallet Recovery Services - for forgotten wallet password
by
walletrecoveryservices
on 21/02/2016, 02:31:58 UTC
@Dave: I've always wondered: how do you make sure you get your cut in case someone used the method where he doesn't share the keys?
Hi Molecular.
As you know, the method of producing 'limited' wallet information from a bitcoin-core wallet has been proven to be 'safe' for the owner of the wallet. By this, I mean that if someone sends me the limited wallet information, there is literally no way for me to take possession of the coins.
So, in answer to your question... I have no way of being sure of my cut in this situation. In practise, I have been very pleasantly surprised by the number of people who are honest enough to send me my success fee when I have helped them recover their money. I would say that fewer than 15% have reneged on their part of the deal. Given that most people that contact me remain anonymous, that is surprisingly low. I guess that when you are looking at losing the entire amount of bitcoins, then to receive typically 80% of them back is pretty pleasing, and most do pay me the fee.
To add to this explanation, in fact most people these days just send me their wallet.dat file directly. I guess that I've been around long enough, and gained enough trust for people to feel comfortable doing that.
Plus other wallet formats (like armory, BitGo, airbitz, BIP38, Eth-pre-sale, etc) do not even have the ability to send 'trustless', limited wallet information, so those people just send me their wallet file.
I am well aware that my business model relies heavily upon trust and my reputation, so I ensure that I act honestly at all times with my clients (who now number over 900).
Cheers
Dave