CoinValidation , will it work? The way to "sanitize" bitcoin !
I need to update this:
I DON'T SUPPORT THE FOLLOWING SCENARIO!
It's just a topic where you can debate if it viable , or if it's gonna be embraced.
Hold your carrots!
It all started with :
http://www.forbes.com/sites/kashmirhill/2013/11/13/sanitizing-bitcoin-coin-validation/
And next moment we have the reactions :
https://bitcointalk.org/index.php?topic=332918.0
Well , I went to :
https://coinvalidation.com/ , downloaded the pdf, for users , saw page with 3 rows and 100 words and nothing solid.
I think that we're got the wrong impression here. I saw the word "addresses" to many times in the forbes article and then this paragraph in the pdf files:
"We have developed tools and relationships that provide Bitcoin businesses with a full know your customer compliance suite. "
From my point of view I think the word Coin is misleading. My opinion is that the project is aimed at the addresses.
And I see a way it might actually work , but first let's assume those guys have a plan , and they have an ace in their hand.
Something like a big company wanting to start accepting bitcoins but concerned about the mess around it.
So , Walmart is announcing:
"We accept bitcoins""From cointrusted addresses only"
Most of the people will jump in ,and how can I get and use a cointrusted address?
It's simple ,
1) Go to any trusted exchangers , verify your identity and buy bitcoins which will be sent to a new address you specify
The address has to have a 0 balance and no previous history.
2) Now , you can go to Walmart and buy with bitcoins , from that address , because Walmart has a white list common with those exchangers and only people on that list can make purchases.
Nothing new from "we only accept Visa and Mastercard , not AE"
The results will be something like:
-Walmart knows that you are a verified customers (they can have your id)
-People when exchanging bitcoins know that this guy has some verified papers.
-You know that you actually have some kind of ownership on that address and can prove in court that "You John , on 11/1/12013 sent to Michael 245 Bitcoins"
And on the surface everybody is happy , right?
People who don't want to enroll , are (
) not forced to enroll.
And I have that BIGGGG feeling I'm missing something right?
I DON'T SUPPORT THE FOLLOWING SCENARIO!
It's just a topic where you can debate if it viable , or if it's gonna be embraced.
Hold your carrots!
It all started with :
http://www.forbes.com/sites/kashmirhill/2013/11/13/sanitizing-bitcoin-coin-validation/
And next moment we have the reactions :
https://bitcointalk.org/index.php?topic=332918.0
Well , I went to :
https://coinvalidation.com/ , downloaded the pdf, for users , saw page with 3 rows and 100 words and nothing solid.
I think that we're got the wrong impression here. I saw the word "addresses" to many times in the forbes article and then this paragraph in the pdf files:
"We have developed tools and relationships that provide Bitcoin businesses with a full know your customer compliance suite. "
From my point of view I think the word Coin is misleading. My opinion is that the project is aimed at the addresses.
And I see a way it might actually work , but first let's assume those guys have a plan , and they have an ace in their hand.
Something like a big company wanting to start accepting bitcoins but concerned about the mess around it.
So , Walmart is announcing:
"We accept bitcoins""From cointrusted addresses only"
Most of the people will jump in ,and how can I get and use a cointrusted address?
It's simple ,
1) Go to any trusted exchangers , verify your identity and buy bitcoins which will be sent to a new address you specify
The address has to have a 0 balance and no previous history.
2) Now , you can go to Walmart and buy with bitcoins , from that address , because Walmart has a white list common with those exchangers and only people on that list can make purchases.
Nothing new from "we only accept Visa and Mastercard , not AE"
The results will be something like:
-Walmart knows that you are a verified customers (they can have your id)
-People when exchanging bitcoins know that this guy has some verified papers.
-You know that you actually have some kind of ownership on that address and can prove in court that "You John , on 11/1/12013 sent to Michael 245 Bitcoins"
And on the surface everybody is happy , right?
People who don't want to enroll , are (
) not forced to enroll.And I have that BIGGGG feeling I'm missing something right?