This addresses some of the limitations of Bitcoin compared to classical payment networks— the lack of reversibility, even where you want it. I found the site super easy to use.
Show HN: Bitrated – Bitcoin m-of-n arbitrated transactions
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Re: Show HN: Bitrated – Bitcoin m-of-n arbitrated transactions
#12Hey, I'm the creator. I'd love to hear any feedback/questions/suggestions you have, but specifically on the security model [1] I implemented, design/ux (my design skills are terrible, thank god for Bootstrap for making it look half decent :) and the marketing/texts (I'm not a native English speaker, so any corrections are much appreciated). If you don't know what multisig/m-of-n means, check out the FAQ: https://www.…
Are you going to be offering ways for arbitrators to tie in other social identity sites as a way for arbitrators to present credentials?
Re: Show HN: Bitrated – Bitcoin m-of-n arbitrated transactions
#13Re: Show HN: Bitrated – Bitcoin m-of-n arbitrated transactions
#14Second, on the FAQ page:
> Help, I lost my private key! Can you recover it for me?
> No. The private key only exists in your browser as part of the URL and in-memory while the service is used, and is never uploaded to our servers. If you lost your access to the URL, it cannot be recovered by any means.
If my private key is in the URL, won't that necessarily be sent to your severs as part of the HTTP request?
Also, your bug bounty's USD to BTC rate could use an update ;)
Re: Show HN: Bitrated – Bitcoin m-of-n arbitrated transactions
#15Hey, I'm the creator. I'd love to hear any feedback/questions/suggestions you have, but specifically on the security model [1] I implemented, design/ux (my design skills are terrible, thank god for Bootstrap for making it look half decent :) and the marketing/texts (I'm not a native English speaker, so any corrections are much appreciated). If you don't know what multisig/m-of-n means, check out the FAQ: https://www.…
Libertarian legal scholar, design nerd and native English speaker here. There's a few basic errors I notice right away like: >Give your customers a peace of mind. There should be no 'a' and just be 'give your customers peace of mind'. The homepage really isn't that great in presentation but the secondary pages are very "squashed": https://www.bitrated.com/faq.html#is-this-an-escrow- You need to add some spacing/paddi…
Re: Show HN: Bitrated – Bitcoin m-of-n arbitrated transactions
#16First off, this seems incredibly useful! Nice work! Second, on the FAQ page: > Help, I lost my private key! Can you recover it for me? > No. The private key only exists in your browser as part of the URL and in-memory while the service is used, and is never uploaded to our servers. If you lost your access to the URL, it cannot be recovered by any means. If my private key is in the URL, won't that necessarily be sent…
> The arbitration data is stored in the hash portion of the URL, which is not sent to the server during http requests and is only accessible to you and people you choose to share URLs with.
And yeah - its hard to keep up with the USD/BTC rate :) I'll update that in a moment.
Re: Show HN: Bitrated – Bitcoin m-of-n arbitrated transactions
#17First off, this seems incredibly useful! Nice work! Second, on the FAQ page: > Help, I lost my private key! Can you recover it for me? > No. The private key only exists in your browser as part of the URL and in-memory while the service is used, and is never uploaded to our servers. If you lost your access to the URL, it cannot be recovered by any means. If my private key is in the URL, won't that necessarily be sent…
Re: Show HN: Bitrated – Bitcoin m-of-n arbitrated transactions
#18First off, this seems incredibly useful! Nice work! Second, on the FAQ page: > Help, I lost my private key! Can you recover it for me? > No. The private key only exists in your browser as part of the URL and in-memory while the service is used, and is never uploaded to our servers. If you lost your access to the URL, it cannot be recovered by any means. If my private key is in the URL, won't that necessarily be sent…
Re: Show HN: Bitrated – Bitcoin m-of-n arbitrated transactions
#19Re: Show HN: Bitrated – Bitcoin m-of-n arbitrated transactions
#20That is interesting. I have some doubts about their claim that this escapes regulation of escrow services (it sounds good, but their argument may not hold sway with regulators). But it seems like a very practical and useful system that shows the kind of thing that could ONLY be done with Bitcoin, and NOT with traditional money.
Well, one of the general elements of this approach WRT regulatory regimes is that there really is much less _justification_ for heavy regulation. With a normal escrow the escrow must be trusted to hold all your money! With this approach they can only release with the consent and cooperation of one of the parties. The lower trust means such a thing would be fundamentally more difficult to regulate too, since it can co…