Post
Topic
Board Scam Accusations
Re: Mybitcoin is a scam!
by
mouse
on 12/07/2011, 09:15:04 UTC
A solution to this kind of problem is for wallet services to offer 'signed receipts' for all transactions, and only carry out transactions for which the customer first signed a request.

Then in the case of a dispute a customer can simply present as evidence their receipt (which has the account balance on it), with their digital signature and the wallet providers signature. Whoever has the most recent receipt 'wins' the argument (because everyones signature is on it).

https://github.com/FellowTraveler/Open-Transactions/wiki/Triple-Signed-Receipts
http://iang.org/papers/triple_entry.html
http://truledger.com/


Is a receipt enough? Won't you also need to show that you never withdrew the coins in order to prove you were actually stolen from?

You get a signed recepit for everything. deposits, withdraws, transfers. There is no action involving your bitcoins that doesn't include you signing something. If they can't produce a signed (by you and them) receipt showing you withdrew the funds, but you can show a receipt showing they have x balance, then you 'win' the argument.

If anyone is confused about how or why this actually works, I encourage you to read through the links above. It's a good read.