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Since this amounts to handing over the password to a wallet, what guarantee does the recipient of the wallet have that they are now the exclusive holder of that
by jameshart 5y ago
Since this amounts to handing over the password to a wallet, what guarantee does the recipient of the wallet have that they are now the exclusive holder of that password?
You could easily have retained access yourself, so after you walk away you can yank the funds out of it.
Or you could hand out access to the same wallet to a half dozen people.
Without actually transferring the funds to a wallet you know you exclusively control, you have no way to know that you've actually received anything of value.
- throwaway413 5y agoVery true - this is elaborated on in the rest of this thread. Basically, the holder would have to be locked out of the private key from creation of the wallet, and there would have to be trust placed in a centralized regulatory body to issue and redeem these wallets.
- DarylZero 5y agoThe holder of the QR code can't be locked out of having the QR code.
- throwaway413 5y agoI am not sure I buy into your statement here. I believe there is a way.
- DarylZero 5y agoThe blockchain itself is literally the way. That's why it's there. If you take it out, double spends.