Post
Topic
Board Development & Technical Discussion
Wikileaks fixed spend time retractability suggestion
by
QuantumMechanic
on 22/06/2011, 21:12:35 UTC
Wikileaks recently tweeted a reply (http://www.twitlonger.com/show/b8qli4) to a news article spreading FUD about Bitcoin.  In it they suggested Bitcoin "be augmented with a sub currency that has fixed time spend retractability if it is to be successful as a safe storage (as well as exchange) currency for the average person".

I was thinking the purposes of this could be accomplished by the client putting a fixed time delay on sends.  Of course, the user could always have the option to force transactions immediately.

If the recipient needs proof that the sender indeed has the necessary funds to send in the meantime, a message could be signed using the private key associated with an address containing them.

This would also provide some protection against "fat finger trades".

Am I understanding their concerns correctly?  Does this address them, effectively?

Edit: I guess part of their concern is theft.  Hopefully this can just be sufficiently mitigated by better security features in the client.