Re: [Bitcoin-development] Sending Bitcoins using RSA keys

2013-04-27 Thread Melvin Carvalho
On 24 April 2013 16:46, Craig B Agricola cr...@theagricolas.org wrote:

 Maybe I'm missing something crucial, but what benefit does this dance give
 over
 the slightly more obvious mechanism of simply:
 1) Alice generates a new address with her bitcoin client and sends the BTC
 to
this new address
 2) Alice exports the private key for that address (there is a well
 supported
format for that)
 3) Alice writes a nice email to Bob, including that exported private key
 4) Alice encrypts the email with Bob's public key using GPG and sends it
 to him
by email
 5) Bob decrypts the email
 6) Bob imports the private key into his wallet


Yes this works too.

However is it dependent on the bitcoin client address generation algorithm?

I think what I'm trying to describe is something more akin to the way a
shared secret is generated by TLS.

Agree, that the wallet is also shared, ive not yet worked out a way to
'blind' one side of the wallet, but nor have a proved it's impossible, so
still working onthat :)



 There's no need for sending a whole wallet; just the one key is needed.
  Every
 bit of infrastructure needed above already exists.  And of course, the
 above
 has the same issue as your proposal; this is a way for two trusting
 parties to
 send BTC without using the Bitcoin network, but it's not a payment
 mechanism.
 They now share control of an address; whoever spends that BTC first wins,
 so
 until Bob uses the Bitcoin network to spend that BTC to another address
 that
 only he controls, it's still in joint custody.  And if ensuring that he has
 control of the BTC is the last (implicit) step in the procedure above, as
 well
 as yours, then they might as well have simply used the Bitcoin network to
 do
 the transfer in the first place.

 Did I miss the point entirely?


Perhaps I've not described the problem statement as clearly as I could,
I'll work on it.  Essentially it's an automated way to bootstrap the RSA
key community together with bitcoin.  e.g. 99% of GPG users probably dont
have a bitcion wallet or address or client.  I think maybe a user story
will help.



  -Craig

 PS. Re-reading, I realize that the above might come off sounding snarky or
 dismissive; it's not intended that way.  I'm wondering if I'm missing
 the
 big picture.


Not snarky at all!  Appreciate the feedback...



 On Wed, Apr 24, 2013 at 04:18:38PM +0200, Melvin Carvalho wrote:
  So there's a slight world divide in digital payments with bitcoin using
  ECDSA and GPG, payswarm / webid etc using largely RSA
 
  Here's how to bring the two worlds together and enable bitcoins be sent
  over webid or payswarm
 
 
  Problem: Alice and Bob have RSA key pairs, but no public bitcoin
  addresses.  Alice wants to send 1 BTC to Bob.
 
  1. Alice takes Bob's WebID and encrpyts it with her private key (to
 create
  entropy) ...
 
  2. Alice uses that message as the seed to produce btc address (as per
  http://brainwallet.org ) with ECDSA key pair
 
  3. Alice sends coins to this address
 
  4. Alice and then encrypts the seed again with Bob's public key
 
  5. Bob decrypts the seed using his private key
 
  6. Bob can now use the seed to recreate the wallet and spend the coins
 
  Unless I've made an error, I believe this unites the web paradigm and
  crypto currency paradigm into one potentially giant eco system ...

 
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[Bitcoin-development] Sending Bitcoins using RSA keys

2013-04-24 Thread Melvin Carvalho
So there's a slight world divide in digital payments with bitcoin using
ECDSA and GPG, payswarm / webid etc using largely RSA

Here's how to bring the two worlds together and enable bitcoins be sent
over webid or payswarm


Problem: Alice and Bob have RSA key pairs, but no public bitcoin
addresses.  Alice wants to send 1 BTC to Bob.

1. Alice takes Bob's WebID and encrpyts it with her private key (to create
entropy) ...

2. Alice uses that message as the seed to produce btc address (as per
http://brainwallet.org ) with ECDSA key pair

3. Alice sends coins to this address

4. Alice and then encrypts the seed again with Bob's public key

5. Bob decrypts the seed using his private key

6. Bob can now use the seed to recreate the wallet and spend the coins

Unless I've made an error, I believe this unites the web paradigm and
crypto currency paradigm into one potentially giant eco system ...
--
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New Relic is the only SaaS-based application performance monitoring service 
that delivers powerful full stack analytics. Optimize and monitor your
browser, app,  servers with just a few lines of code. Try New Relic
and get this awesome Nerd Life shirt! http://p.sf.net/sfu/newrelic_d2d_apr___
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Re: [Bitcoin-development] Sending Bitcoins using RSA keys

2013-04-24 Thread Craig B Agricola
Maybe I'm missing something crucial, but what benefit does this dance give over
the slightly more obvious mechanism of simply:
1) Alice generates a new address with her bitcoin client and sends the BTC to
   this new address
2) Alice exports the private key for that address (there is a well supported
   format for that)
3) Alice writes a nice email to Bob, including that exported private key
4) Alice encrypts the email with Bob's public key using GPG and sends it to him
   by email
5) Bob decrypts the email
6) Bob imports the private key into his wallet

There's no need for sending a whole wallet; just the one key is needed.  Every
bit of infrastructure needed above already exists.  And of course, the above
has the same issue as your proposal; this is a way for two trusting parties to
send BTC without using the Bitcoin network, but it's not a payment mechanism.
They now share control of an address; whoever spends that BTC first wins, so
until Bob uses the Bitcoin network to spend that BTC to another address that
only he controls, it's still in joint custody.  And if ensuring that he has
control of the BTC is the last (implicit) step in the procedure above, as well
as yours, then they might as well have simply used the Bitcoin network to do
the transfer in the first place.

Did I miss the point entirely?

 -Craig

PS. Re-reading, I realize that the above might come off sounding snarky or
dismissive; it's not intended that way.  I'm wondering if I'm missing the
big picture.

On Wed, Apr 24, 2013 at 04:18:38PM +0200, Melvin Carvalho wrote:
 So there's a slight world divide in digital payments with bitcoin using
 ECDSA and GPG, payswarm / webid etc using largely RSA
 
 Here's how to bring the two worlds together and enable bitcoins be sent
 over webid or payswarm
 
 
 Problem: Alice and Bob have RSA key pairs, but no public bitcoin
 addresses.  Alice wants to send 1 BTC to Bob.
 
 1. Alice takes Bob's WebID and encrpyts it with her private key (to create
 entropy) ...
 
 2. Alice uses that message as the seed to produce btc address (as per
 http://brainwallet.org ) with ECDSA key pair
 
 3. Alice sends coins to this address
 
 4. Alice and then encrypts the seed again with Bob's public key
 
 5. Bob decrypts the seed using his private key
 
 6. Bob can now use the seed to recreate the wallet and spend the coins
 
 Unless I've made an error, I believe this unites the web paradigm and
 crypto currency paradigm into one potentially giant eco system ...

 --
 Try New Relic Now  We'll Send You this Cool Shirt
 New Relic is the only SaaS-based application performance monitoring service 
 that delivers powerful full stack analytics. Optimize and monitor your
 browser, app,  servers with just a few lines of code. Try New Relic
 and get this awesome Nerd Life shirt! http://p.sf.net/sfu/newrelic_d2d_apr

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