Post
Topic
Board Project Development
Re: [Pre-Announce] OpenPay, use your bitcoins at any merchant that takes Visa!
by
marcus_of_augustus
on 19/06/2012, 23:54:16 UTC
Multi-sig transactions and/or two-factor authentication can remove most of the risk of a 'Bitcoin card' ... so that the irreversibility is not a problem, except in an infinitesimally small number of cases, an acceptable level of risk.

I haven't taken multisig into account, just two factor.  That's mostly because it's a new concept I'm not sure I fully understand.  Is there a really good explanation of how that would work in the Bitcoin system?  It might be I could incorporate it into this design, or rework the whole concept to leverage it properly.

https://en.bitcoin.it/wiki/BIP_0010

https://en.bitcoin.it/wiki/BIP_0011

It is at dev stage, afaik, but Gavin has done a lot of work/testing on it and he is the lead dev. so it is probably not that far away ...