-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 On 01/20/2015 03:46 PM, Peter Todd wrote: > But ultimately we're not going to know until court cases start > happening. In the meantime probably the best advice - other than > getting out of the wallet business! - is to do everything you can > to prevent losses through malicious auto-updates. Create systems > where as many people as possible have to sign off and review an > update before it has the opportunity to spend user funds. Not > having auto-updates at all is a (legally) safe way to achieve that > goal; if you do have them make sure the process by which an update > happens is controlled by more than one person and there are > mechanisms in place to create good audit logs of how exactly an > update happened. > > Finally keep in mind that one of the consequences of a custodial > relationship is that some legal authority might try to *force* you > to seize user funds. StrongCoin made it 100% clear to authorities > that they and sites like them are able to seize funds at will - I > won't be surprised if authorities use that power in the future. The > more automatic and less transparent an update is, the higher the > chance some authority will lean on you to seize funds. So don't > make it easy for yourself to meet those demands.
One suggestion you didn't mention was jurisdictional arbitrage - don't be located in the same country as the majority of your users. Or, from the other perspective, users should be strongly encouraged to get their wallet software from companies/organizations not located in the same country as them. - -- Justus Ranvier | Monetas <http://monetas.net/> <mailto:jus...@monetas.net> | Public key ID : C3F7BB2638450DB5 | BM-2cTepVtZ6AyJAs2Y8LpcvZB8KbdaWLwKqc -----BEGIN PGP SIGNATURE----- iQIcBAEBAgAGBQJUvpSqAAoJECpf2nDq2eYj0oQQAI62vLPzFrkLZoRw3bIw5GWt 6L8dpLUviRS7ZaQlNB49TT4L4Ky+MJ1PxaHwb4YPxrVcCWDLiJb51CtODduF/9rR 8N4xoQuf/6DhsBHWJE8NDwP+9JUOlY23xdSe/BlLz9N1Ql/EV0HTCu28A9xbhK1L QHgwX3p5/ZCJo7PCARF3o+EZOif5MsA4MdQ11HhyFWN/fgww9AVOIg/0m+tIqkjR yoOzFww4AejC7nxi+Q+elljpvp2Q/Nv8cVOVlp9l4+f9P7sg0em9YUCE+iAxoZTT 7b9soUXFUjWlxFITR5RnjlDUnmra9QhBIhogBQbLelt/vdoRInz+kXxroR2x3uKh EJoet2czRB1oiRKHE4iSAv+1pnavQJDVo5/mUMzeM15zCnQ16Mfu9aOpqvijK0cw u67E4IAPJ2PmUy4sPPJ/4H4FPLmJrSUkLxxzq/4prmLLmeZZvPwjavnULHir4jyG aaxFqMkbeJSeK3hLk7hnlrwpQRAEq7om+EpQ7fAx1lmEoA3eOHaeclh7/XzDwIB4 AK/jX+1ylhGvfuKNzwTQVX8dEzaHRwLAfLfHUNnP80WhBzH5ODicwcOwwOanL6/A qgqwDSSB/Q5aj3VsThQ+PR81u/wA5t/Av9+Wn/g+AEMyzCnJcnHxDe41ZEn4UzYY +RAX1P8yzF/M2ZQUeMLh =G0GE -----END PGP SIGNATURE-----
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